Collateral Cumulative Clause Samples
The 'Collateral Cumulative' clause establishes that the obligations or requirements related to collateral under an agreement are cumulative, meaning they add up over time and are not replaced or diminished by subsequent collateral requirements. In practice, this means that if a party is required to provide additional collateral at different times, each new requirement is in addition to any previous collateral already posted, rather than substituting for it. This clause ensures that the total amount of collateral held reflects all outstanding obligations, thereby providing greater security to the party receiving the collateral and reducing the risk of under-collateralization.
Collateral Cumulative. The collateral constituted by this Charge and the Collateral Rights shall be cumulative, in addition to and independent of every other security which Secured Party may at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No prior security held by the Secured Party over the whole or any part of the Charged Portfolio shall merge into the collateral constituted by this Charge.
Collateral Cumulative. The collateral constituted by this Agreement and the Collateral Rights shall be cumulative, in addition to and independent of every other security which the Security Trustee or any other Secured Party may at any time hold for the Secured UK Obligations or any rights, powers and remedies provided by law. No prior security held by the Security Trustee or any other Secured Party over the whole or any part of the Charged Portfolio shall merge into the collateral constituted by this Agreement.
Collateral Cumulative. The collateral constituted by this Agreement and the Collateral Rights shall be cumulative, in addition to and independent of every other security which Funding 2 may at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No prior security held by Funding 2 over the whole or any part of the Security Assets shall merge into the collateral constituted by this Agreement.
Collateral Cumulative. The collateral constituted by this Agreement and the Collateral Rights shall be cumulative, in addition to and independent of every other security which the Chargee may at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No prior security held by the Chargee over the whole or any part of the Charged Portfolio shall merge into the collateral constituted by this Agreement.