Common use of Continuing security and other matters Clause in Contracts

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Secured Creditors or any of them by the Borrowers or any of them and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral Instrument, right or remedy held by or available to the Security Agent or any of the Secured Creditors; and 2.6.3 not be in any way prejudiced or affected by the existence of 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 Security Agent or any of the Secured Creditors dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 2 contracts

Sources: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Euronav NV)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Secured Creditors Mortgagees or any of them by the Borrowers or any of them and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral Instrument, right or remedy held by or available to any of the Security Agent Mortgagees or any of the Secured Creditorsthem; and 2.6.3 not be in any way prejudiced or affected by the existence of 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 any of the Security Agent Mortgagees or any of the Secured Creditors them dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Security Agent and/or any of the Secured Creditors or any of them by the Borrowers or any either of them and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral Instrument, right or remedy held by or available to the Security Agent and/or the Secured Creditors or any of the Secured Creditorsthem; and 2.6.3 not be in any way prejudiced or affected by the existence of 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 Security Agent or any of the Secured Creditors dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Security Agent and/or any of the Secured Creditors or any of them by the Borrowers or any of them and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral Instrument, right or remedy held by or available to the Security Agent and/or the Secured Creditors or any of the Secured Creditorsthem; and 2.6.3 not be in any way prejudiced or affected by the existence of 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 Security Agent or any of the Secured Creditors dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Secured Creditors or any of them by the Borrowers or any either of them and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral Instrument, right or remedy held by or available to the Security Agent or any of the Secured Creditors; and 2.6.3 not be in any way prejudiced or affected by the existence of 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 Security Agent or any of the Secured Creditors dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: Supplemental Agreement (Diana Shipping Inc.)