The below error message occurs following clicking Connect within the Create New Connection screen:
"System.TypeLoadException
Could not load type 'System.Security.Claims.ClaimsIdentity' from assembly 'mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77..."
RESOLUTION
Upgrade the computer where Toad for DB2 is installed to .NET 4.5 (minimum).
The full list of system requirements can be found through this link.
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