Common use of CONTINUING AND ADDITIONAL SECURITY Clause in Contracts

CONTINUING AND ADDITIONAL SECURITY.  8.1 This Deed of Guarantee and Indemnity is a continuing security and shall remain in full force and effect until all the Guaranteed Obligations and the indemnity obligations have been discharged or satisfied in full notwithstanding any intermediate payment or discharge by the Guarantor of the Guaranteed Obligations or the liquidation or other incapacity or any change in the constitution or name of the Charterer or of the Guarantor or any settlement of account or other matter or thing whatsoever.  8.2 This Deed of Guarantee and Indemnity is in addition to and shall not merge with or otherwise prejudice or affect or be prejudiced by any other right, remedy, guarantee, indemnity or security and may be enforced without first having recourse to the same or any other ▇▇▇▇, note, mortgage, charge, pledge or lien now or hereafter held by or available to the Beneficiary. 

Appears in 1 contract

Sources: Deed of Guarantee and Indemnity (Vaalco Energy Inc /De/)

CONTINUING AND ADDITIONAL SECURITY.  8.1 This Deed of Guarantee and Indemnity is a continuing security and shall remain in full force and effect until all the Guaranteed Obligations and the indemnity obligations have been discharged or satisfied in full notwithstanding . any intermediate payment or discharge by the Guarantor of the Guaranteed Obligations or the liquidation or other incapacity or any change in the constitution or name of the Charterer or of the Guarantor or any settlement of account or other matter or thing whatsoever.  8.2 This Deed of Guarantee and Indemnity is in addition to and shall not merge with or otherwise prejudice or affect or be prejudiced by any other right, remedy, guarantee, indemnity or security and may be enforced without first having recourse to the same or any other b▇▇▇, note, mortgage, charge, pledge or lien now or hereafter held by or available to the Beneficiary. 

Appears in 1 contract

Sources: Deed of Guarantee and Indemnity (Vaalco Energy Inc /De/)

CONTINUING AND ADDITIONAL SECURITY.  8.1 This Deed of Guarantee and Indemnity is a continuing security and shall remain in full force and effect until all the Guaranteed Obligations and the indemnity obligations have been discharged or satisfied in full notwithstanding any intermediate payment or discharge by the Guarantor of the Guaranteed Obligations or the liquidation or other incapacity or any change in the constitution or name of the Charterer Contractor or of the Guarantor or any settlement of account or other matter or thing whatsoever. . 8.2 This Deed of Guarantee and Indemnity is in addition to and shall not merge with or otherwise prejudice or affect or be prejudiced by any other right, remedy, guarantee, indemnity or security and may be enforced without first having recourse to the same or any other ▇▇▇▇, note, mortgage, charge, pledge or lien now or hereafter held by or available to the Beneficiary. .

Appears in 1 contract

Sources: Subsea Construction and Installation Services Agreement (Vaalco Energy Inc /De/)