Common use of Collateral Cumulative Clause in Contracts

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 the Security Trustee Collateral Agent or any other Secured Party may at any time hold for the Secured UK Obligations Liabilities or any rights, powers and remedies provided by law. No prior security held by the Security Trustee Collateral Agent or any other Secured Party over the whole or any part of the Charged Portfolio shall merge into the collateral constituted by this Agreement.