Continuing Security Sample Clauses
The Continuing Security clause establishes that the security interest or collateral provided under an agreement remains in effect until all obligations are fully satisfied. In practice, this means that even if some debts are repaid or the agreement is amended, the security continues to cover any outstanding or future obligations that may arise under the contract. This clause ensures that the lender or secured party retains protection against default until the borrower has met all their commitments, thereby reducing the risk of unsecured exposure.
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Continuing Security. 9.1 The security constituted by this Deed shall be held by the Secured Party as a continuing security for the payment and discharge of the Secured Obligations and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations including wheresoever such payment or satisfaction is made pursuant to the insolvency or bankruptcy of the Chargor and shall be binding until all the Secured Obligations have been unconditionally and irrevocably paid and discharged in full.
9.2 The Chargor waives any right he or she may have of requiring the Secured Party (or any Receiver, or trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any other person before claiming under or enforcing the security granted or taken under this Deed.
9.3 No failure, delay or omission by the Secured Party or any receiver in exercising any right, power or remedy under this Deed shall impair such right, power or remedy or be construed as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy.
9.4 Any waiver by the Secured Party of any of the terms of this Deed or any consent or approval given by the Secured Party shall only be effective if given in writing and then only for the purpose and upon the terms and conditions for which it is given.
9.5 Any settlement, release or discharge under this Deed or the Share Purchase Agreement shall be conditional upon no security or payment to the Secured Party being avoided or set aside or ordered to be refunded or reduced by virtue of any provision or enactment relating to insolvency, administration or liquidation for the time being in force or for any other reason and, if such condition is not satisfied, the Secured Party shall be entitled to receive from the Chargor on demand the value of such security or the amount of any such payment as if such settlement, release or discharge had not occurred.
9.6 The Secured Party shall not be concerned to see or investigate the powers or authorities of the Chargor and moneys obtained or Secured Obligations incurred in the purported exercise of such powers or authorities or by any person purporting to be acting for or on behalf of the Chargor shall be deemed to form a part of the Secured Obligations, and "Secured Obligations" shall be construed accordingly.
9.7 The Cha...
Continuing Security. This Security is a continuing security and will extend to the ultimate balance of the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.
Continuing Security. The security created by the Mortgage and this Deed shall:
5.1.1 be held by the Mortgagee as a continuing security for the payment of the Outstanding Indebtedness and the performance and observance of and compliance by the Owner with all of the covenants, terms and conditions contained in the Security Documents to which the Owner is or is to be a party, express or implied and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the amount hereby and thereby secured (or by any settlement of accounts between the Owner or any other person who may be liable to the Mortgagee in respect of the Outstanding Indebtedness or any part thereof and the Mortgagee);
5.1.2 be in addition to, and shall not in any way prejudice or affect, and may be enforced by the Mortgagee without prior recourse to, the security created by any other of the Security Documents or by any present or future Collateral Instruments, right or remedy held by or available to the Mortgagee or any right or remedy of the Mortgagee thereunder; and
5.1.3 not be in any way prejudiced or affected by the existence of any of the other Security Documents or any such Collateral Instrument, rights or remedies or by the same becoming wholly or in part void, voidable or unenforceable on any ground whatsoever or by the Mortgagee dealing with, exchanging, varying or failing to perfect or enforce any of the same, or giving time for payment or performance or indulgence or compounding with any other person liable.
Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.
Continuing Security. Each item or part of the Security shall for all purposes be treated as a separate and continuing collateral security and shall be deemed to have been given in addition to and not in place of any other item or part of the Security or any other security now held or hereafter acquired by the Agent or the Lenders. No item or part of the Security shall be merged or be deemed to have been merged in or by this Agreement or any documents, instruments or acknowledgements delivered hereunder, or any simple contract debt or any judgment, and any realization of or steps taken under or pursuant to any security, instrument or agreement shall be independent of and not create a merger with any other right available to the Lenders or the Agent under any security, instruments or agreements held by it or at law or in equity.
Continuing Security. The security created by this Agreement and each of the other Security Documents shall be held by the Trustee and/or the Agent and/or the Lenders and/or the Hermes Agent as a continuing security for the repayment of the Outstanding Indebtedness and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the amount hereby or thereby secured or by any amendment of this Agreement or any of the other Security Documents. Such security shall be in addition to and shall not in any way be prejudiced or affected by any collateral or other security now or hereafter held by the Trustee, the Agent, the Lenders, the Hermes Agent or any of them for all or any part of the amount hereby or thereby secured or any other right or remedy of the Trustee, the Agent, the Lenders or the Hermes Agent or any of them under this Agreement or any of the other Security Documents, by operation of law or otherwise howsoever arising. All the powers arising from such security may be exercised from time to time as the Trustee and/or the Agent and/or the Hermes Agent may deem expedient.
Continuing Security. The security constituted by this Deed is continuing and will extend to the ultimate balance of all the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.
Continuing Security. Each Security Interest under this Agreement and any Collateral Document continues to apply even if payments are made during the Term.
Continuing Security. The security constituted by this deed shall remain in full force and effect as a continuing security for the Secured Liabilities, despite any settlement of account, or intermediate payment, or other matter or thing, unless and until the Security Trustee discharges this deed in writing.
Continuing Security. Each Pledge is a continuing security and will extend to the final performance of the Relevant Secured Liabilities to Eurex Clearing AG by the Pledgor, regardless of any intermediate payment or discharge in whole or in part. No change, novation or amendment whatsoever in and to the liabilities and to any document related to the Relevant Secured Liabilities shall affect the validity and the scope of this Schedule 2.