Common use of Continuing Assignment Clause in Contracts

Continuing Assignment. The pledge and assignment embodied in this Agreement (the “Assignment”) shall continue in full force and effect during the term of the Credit Card Agreement and the Visa Card Account and until such time as all outstanding Obligations have been fully paid and satisfied. The Bank is irrevocably authorized, without the consent of or notice to the Pledgor, to extend, renew and redeposit automatically the Collateral at the termination of each time period for such term(s) and under such conditions as the Bank deems appropriate, in its sole discretion, until such time as all Obligations to the Bank are repaid in full.