Common use of Continued Security Interest Clause in Contracts

Continued Security Interest. Borrower acknowledges that Lender shall succeed to SSB's security interest under the Loan Agreement with respect to the Stock Collateral. Borrower further acknowledges that Lender shall undertake to make all necessary filings with state and federal agencies in order to protect such security interest.

Continued Security Interest. Borrower acknowledges that Lender shall succeed succeeded to SSB's security interest under the Loan Agreement with respect to the Stock CollateralCollateral in connection with the Agreement. Borrower further acknowledges that Lender shall undertake to make all necessary filings with state and federal agencies in order to protect perfect such security interest.