Common use of Continuing Security Interest; Assignment Clause in Contracts

Continuing Security Interest; Assignment. This Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and the other Secured Parties and each of their respective successors, transferees and assigns. No other Persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject however, to the provisions of the Credit Agreement and any applicable Hedging Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

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Continuing Security Interest; Assignment. This ---------------------------------------- Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and the other Secured Parties and each of their respective successors, transferees and assigns. No other Persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject however, to the provisions of the Credit Agreement and any applicable Hedging Interest Rate Protection Agreement.

Appears in 2 contracts

Samples: Security Agreement (Applied Power Inc), Security Agreement (Applied Power Inc)

Continuing Security Interest; Assignment. This Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and for the other benefit of the Secured Parties and each of their respective successors, transferees and assigns. No other Persons persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Personperson, and such other Person person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Ionics Inc), Credit Agreement (SFBC International Inc)

Continuing Security Interest; Assignment. This Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and for the other benefit of the Secured Parties and each of their respective successors, transferees and assigns. No other Persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging Agreement.

Appears in 1 contract

Samples: Security Agreement (Norcraft Companies, Inc.)

Continuing Security Interest; Assignment. This Mortgage Agreement shall create a continuing Lien on and security interest in the Mortgaged Property Collateral and shall (ia) be binding upon the MortgagorGrantor, its respective successors and assigns assigns, and (iib) inure, together with the rights and remedies of the Mortgagee Trustee hereunder, to the benefit of the Mortgagee Trustee (and, to the extent provided herein, any other trustee under the Deed of Trust) and the other Secured Parties and each of their respective successors, transferees and assigns. No ; and no other Persons (including, including without limitation, limitation any other creditor creditors of any Loan PartyGrantor) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (iib), any Lender Secured Party may assign or otherwise transfer any indebtedness security or guarantee held by it secured by this Mortgage Agreement to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such LenderSecured Party, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging AgreementIndenture.

Appears in 1 contract

Samples: Security Agreement (Riviera Black Hawk Inc)

Continuing Security Interest; Assignment. This Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and for the other benefit of the Secured Parties and each of their respective successors, transferees and assigns. No other Persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing forego- ing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging Agreement.

Appears in 1 contract

Samples: Credit Agreement (Ionics Inc)

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Continuing Security Interest; Assignment. This Mortgage Agreement shall create a continuing Lien on and security interest in the Mortgaged Property Collateral and shall (ia) be binding upon the MortgagorGrantor, its respective successors and assigns assigns, and (iib) inure, together with the rights and remedies of the Mortgagee Trustee hereunder, to the benefit of the Mortgagee Trustee (and, to the extent provided herein, any other trustee under the Deed of Trust) and the other Secured Parties and each of their respective successors, transferees and assigns. No ; and no other Persons (including, including without limitation, any other creditor creditors of any Loan PartyGrantor) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (iib), any Lender Secured Party may assign or otherwise transfer any indebtedness security or guarantee held by it secured by this Mortgage Agreement to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such LenderSecured Party, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging AgreementIndenture.

Appears in 1 contract

Samples: Security Agreement (Riviera Holdings Corp)

Continuing Security Interest; Assignment. This Mortgage shall create a continuing Lien on and security interest in the Mortgaged Property and shall (i) be binding upon the Mortgagor, its respective successors and assigns and (ii) inure, together with the rights and remedies of the Mortgagee hereunder, to the benefit of the Mortgagee and for the other benefit of the LEGAL_US_3 # 107097238.2 Secured Parties and each of their respective successors, transferees and assigns. No other Persons (including, without limitation, any other creditor of any Loan Party) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Lender may assign or otherwise transfer any indebtedness held by it secured by this Mortgage to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender, herein or otherwise, subject subject, however, to the provisions of the Credit Agreement and any applicable Hedging Agreement.

Appears in 1 contract

Samples: Credit Agreement (Norcraft Companies, Inc.)

Continuing Security Interest; Assignment. This Mortgage Agreement shall create a continuing Lien on and security interest in the Mortgaged Property Pledged Collateral and shall (iI) remain in full force and effect until the undefeasible payment in full in cash of all Secured Obligations, (II) be binding upon the MortgagorDebtor, its respective successors and assigns assigns, and (iiIII) inure, together with the rights and remedies of the Mortgagee Secured Party hereunder, to the benefit of the Mortgagee Secured Party and the other Secured Parties and each of their respective its successors, transferees and assigns. No ; no other Persons (including, without limitation, any other creditor of any Loan Partythe Debtor) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (iiiii), any Lender the Secured Party may assign or otherwise transfer any indebtedness held by it and secured by this Mortgage Agreement to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such LenderSecured Party, herein or otherwise, subject however, to the provisions of the Credit Agreement and any applicable Hedging AgreementNote.

Appears in 1 contract

Samples: Security Agreement (Locateplus Holdings Corp)

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