Common use of Continuing Security Agreement Clause in Contracts

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 of the Code, no action taken or omission to act by Secured Party or the Lender Group hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 4.04 or any other action taken or inaction pursuant to Section 6.02, shall be deemed to constitute a retention of the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect, until Secured Party and the