Absolute Interest Clause Samples
An Absolute Interest clause establishes that a party holds a complete and unconditional ownership right in a particular asset or property, free from any limitations, conditions, or future contingencies. In practice, this means the holder can use, transfer, or dispose of the asset as they see fit, without needing approval from others or being subject to reversionary interests. This clause is commonly used in property transfers or trust arrangements to ensure that the recipient's rights are not subject to challenge or reduction, thereby providing certainty and security of ownership.
Absolute Interest. (a) All rights of the Secured Party hereunder, and all obligations of the Pledgor hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any provision of the Loan Agreement or any other Loan Document, any agreement with respect to the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, increase in the amount or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Loan Agreement or any other agreement or instrument, (iii) any exchange, release or non-perfection of any Collateral or any other security for or Collateral securing the Secured Obligations, or any release or amendment or waiver of or any consent to or departure from any guarantee or any other security, for all or any of the Secured Obligations, or (iv) any other circumstance which might constitute a defense available to, or a discharge of, the Pledgor in respect of the Secured Obligations or this Agreement.
(b) The Secured Party is hereby subrogated to all of the Pledgor’s interests, rights and remedies in respect to the Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsements thereof and with respect thereto.
Absolute Interest. (a) All rights of the Collateral Agent hereunder, and all obligations of the Debtor hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any agreement with respect to the Indebtedness; (ii) any change in the time, manner or place of payment of or in any other term of, any payment required hereby or by any promissory note evidencing the Indebtedness or any part thereof, or any other amendment or waiver of or any consent to any departure from any agreement or instrument; (iii) any exchange, release or non-perfection of any Collateral, or any release or amendment or waiver of or any consent to or departure from, any guarantee for all or part of the Obligation; (iv) any other circumstance which might constitute a defense available to, or a discharge of, the Debtor or the Debtor in respect of the Indebtedness or any part thereof or this Pledge and Security Agreement.
(b) This Pledge and Security Agreement shall not be construed as relieving the Debtor from full liability on the Obligations and for any deficiency thereon.
(c) The Collateral Agent is hereby subrogated to all of the Debtor's interests, rights and remedies in respect to the Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsement thereof and with respect thereto, but only to the extent necessary to satisfy the Obligations in accordance with the terms of this Pledge and Security Agreement.
Absolute Interest. (a) All rights of the Agent hereunder, and all obligations of the Pledgor hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any provision of the Credit Agreement, any agreement with respect to the Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement or any other agreement or instrument, (iii) any exchange, release or non-perfection of any Pledged Collateral, or any release or amendment or waiver of or any consent to or departure from any guarantee, for all or any of the Obligations or (iv) any other circumstance which might constitute a defense available to, or a discharge of, the Pledgor in respect of the Obligations or this Pledge Agreement.
(b) The Agent is hereby subrogated to all of the Pledgor's interests, rights and remedies in respect to the Pledged Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsements thereof and with respect thereto.
Absolute Interest. A. All rights of the Pledgee hereunder, and all obligations of the Pledgor hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any provision of the Note, any agreement with respect to the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the, (iii) any exchange, release or non-perfection of any Collateral or any other security for or Collateral securing the Secured Obligations, or any release or amendment or waiver of or any consent to or departure from any guarantee or any other security, for all or any of the Secured Obligations or (iv) any other circumstance which might constitute a defense available to, or a discharge of, the Pledgor in respect of the Secured Obligations or this Agreement.
B. The Pledgee is hereby subrogated to all of the Pledgor's interests, rights and remedies in respect to the Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsements thereof and with respect thereto.
Absolute Interest. (a) So long as any Obligations are unsatisfied, all rights of Agent hereunder, and all obligations of Pledgor hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any provision of the Credit Agreement, any agreement with respect to the Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement or any other agreement or instrument, (iii) any exchange, release or non-perfection of any Pledged Collateral, or any release or amendment or waiver of or any consent to or departure from any guarantee, for all or any of the Obligations or (iv) any other circumstance which might constitute
(b) This Pledge Agreement shall not be construed as relieving Pledgor from full liability on the Obligations and any and all future and other indebtedness secured hereby and for any deficiency thereon.
(c) Agent is hereby subrogated to all of Pledgor's interests, rights and remedies in respect to the Pledged Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsements thereof and with respect thereto.
Absolute Interest. (a) All rights of the Secured Party hereunder, and all obligations of the Pledgor hereunder, shall be absolute and unconditional irrespective of (i) any change in the time, manner or place of payment of or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Note or any other agreement or instrument to which Pledgor is or may be a party, (iii) any exchange, release or nonperfection of any Collateral, or any release or amendment or waiver of or any consent to or departure from any guarantee, for all or any of the Obligations or (iv) any other circumstance which might constitute a defense available to, or a discharge of, the Pledgor in respect of the Obligations or this Pledge and Security Agreement.
(b) This Pledge and Security Agreement shall not be construed as relieving Pledgor from full liability on the Obligations and any and all future and other indebtedness secured hereby and for any deficiency thereon.
(c) All powers, authorizations and agencies herein contained with respect to the Collateral are irrevocable and coupled with an interest.
Absolute Interest. Pledgor acknowledges and agrees that the security interest and assignment herein provided for shall be absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever, and, without limiting the generality of the foregoing, shall not be impaired by any acceptance by MCC of any other collateral for or guarantors upon any of the indebtedness secured hereby, or any by failure or neglect or omission on the part of MCC to realize upon, collect or protect any indebtedness secured hereby or any collateral security therefor. The security interest and assignment herein provided for shall not in any manner be affected or impaired by (and MCC, without notice to anyone is hereby authorized to make from time to time without the consent of Pledgor) any sale, pledge, surrender, compromise, settlement, release or renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any or of the indebtedness secured hereby or of any of the collateral security therefor, or of any guaranty thereof. In order to sell, dispose of or otherwise realize upon the security interest and assignment herein granted and provided for, and exercise the rights granted MCC hereunder and under applicable law, there shall be no obligation on the part of MCC at any time to first resort for payment to the Pledgor or to my guaranty of the indebtedness secured hereby or any part thereof or to resort to any other collateral security, property, liens or other rights or remedies whatsoever, and MCC shall have the right to enforce the security interest and assignment herein granted and provided for irrespective of whether or not other proceedings or steps are pending seeking resort to or realization upon or from any of the foregoing.
Absolute Interest. (a) All rights of the Secured Party hereunder, and all obligations of Royal Gold hereunder, shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of any provision of the Loan Agreement or any other Credit Document, any agreement with respect to the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Loan Agreement, any Credit Document, or any other agreement or instrument, (iii) any exchange, release or non-perfection of any Collateral or any other security for or Collateral securing the Secured Obligations, or any release or amendment or waiver of or any consent to or departure from any guarantee or any other security, for all or any of the Secured Obligations, or (iv) any other circumstance which might constitute a defense available to, or a discharge of, Royal Gold in respect of the Secured Obligations or this Agreement, other than tender of payment in full of the Secured Obligations.
(b) Royal Gold is hereby subrogated to all of the Secured Party’s interests, rights and remedies in respect to the Collateral and all security now or hereafter existing with respect thereto and all guaranties and endorsements thereof and with respect thereto.