Common use of Continuing Security Interest; Assignments Under the Credit Agreement; Release Clause in Contracts

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns permitted under the Credit Agreement until the date on which all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and have been terminated, all Letters of Credit shall have expired or terminated terminated, and after all Letter of Credit Outstandings shall have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings shall have been Cash Collateralized) (such date, the “Termination Date”), notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all no Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement, Agreement and any Hedge Agreement the Credit Parties may be free from any Obligations. This Pledge Agreement and the security interest granted hereby shall terminate on the first date on which all the Obligations under the Credit Documents shall have been satisfied by payment in full, the Commitments shall be terminated and no Letters of Credit shall be outstanding.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns permitted under the Credit Agreement until the date on which all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and have been terminated, all Letters of Credit shall have expired or terminated terminated, and after all Letter of Credit Outstandings shall have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings shall have been Cash CollateralizedCollateralized in a manner reasonably satisfactory to the applicable Letter of Credit Issuers) (such date, the “Termination Date”), notwithstanding that from time to time during the term of the Credit Agreement, Agreement the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and the obligations of each Pari Passu Grantor under this Security Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all no Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement, Agreement and any Hedge Agreement the Credit Parties may be free from any Obligations. This Security Agreement and the security interest granted hereby shall terminate on the first date on which all the Obligations under the Credit Documents shall have been satisfied by payment in full, the Commitments shall be terminated and no Letters of Credit shall be outstanding.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns until all Obligations permitted under the Credit Documents and each Pari Passu Agreement until the date on which all Obligations (other than, in each case, than (x) any contingent indemnity obligations for which no claim or demand for payment has been made or is not then due, due and (y) any Secured Hedge Obligations or any Secured Cash Management ObligationsObligations that have been collateralized, back-stopped or otherwise provided for) shall have been satisfied by payment in full, the Commitments shall be have been terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings shall have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been zero, Cash Collateralized) , backstopped or otherwise provided for in accordance with the terms of the Credit Agreement (such date, the “Termination Date”), notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns until all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) Collateralized in a manner reasonably satisfactory to the applicable Letter of Credit Issuers), notwithstanding that from time to time during the term of the Credit Agreement, Agreement the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns until all Obligations permitted under the Credit Documents and each Pari Passu Agreement until the date on which all the Obligations (other than, in each case, than (x) any contingent indemnity obligations for which no claim or demand for payment has been made or is not then due, due and (y) any Secured Hedge Obligations or any Secured Cash Management ObligationsObligations that have been collateralized, backstopped or otherwise provided for) shall have been satisfied by payment in full, the Commitments shall be have been terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings shall have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been zero, Cash Collateralized) , backstopped or otherwise provided for in accordance with the terms of the Credit Agreement (such date, the “Termination Date”), notwithstanding that from time to time during the term of the Credit Agreement, Agreement the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns until all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) Collateralized in a manner reasonably satisfactory to the applicable Letter of Credit Issuers), notwithstanding that from time to time during the term of the Credit Agreement, Agreement the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor the Pledgor and the its successors and assigns thereof assigns, and shall inure to the benefit of the Collateral Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all no Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement, Agreement and any Hedge Agreement the Credit Parties may be free from any Obligations. This Pledge Agreement and the security interest granted hereby shall terminate on the first date on which all of the Obligations under the Credit Documents shall have been satisfied by payment in full, the Commitments terminated and no Letters of Credit shall be outstanding.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns permitted under the Credit Agreement until the date on which all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations, any Secured Bank Product Obligations, Secured Bank Product Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated have been terminated, all Letters of Credit shall have expired or terminated, and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings Outstanding shall have been reduced to zero (or all such Letters of Credit and Letter Letters of Credit Outstandings Outstanding shall have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement(such date, the Credit Parties may be free from any Obligations“Termination Date”).

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, than any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) Collateralized or back-stopped in a manner reasonably satisfactory to the applicable Issuing Banks), notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and the obligations of each Pari Passu Grantor under this Security Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all no Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement, Agreement and any Hedge Agreement the Credit Parties may be free from any Obligations. This Security Agreement and the security interest granted hereby shall terminate on the first date on which all of the Obligations under the Credit Documents shall have been satisfied by payment in full, the Commitments shall be terminated and no Letters of Credit shall be outstanding.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns permitted under the Credit Agreement until the date on which all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and have been terminated, all Letters of Credit shall have expired or terminated terminated, and after all Letter of Credit Outstandings shall have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings shall have been Cash Collateralized) (such date, the “Termination Date”), notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations. National Vision Holdings, Inc. has requested confidential treatment of this registration statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns permitted under the Credit Agreement until the date on which all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations, any Secured Bank Product Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated have been terminated, all Letters of Credit shall have expired or terminated, and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings Outstanding shall have been reduced to zero (or all such Letters of Credit and Letter Letters of Credit Outstandings Outstanding shall have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement(such date, the Credit Parties may be free from any Obligations“Termination Date”).

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor Pledgor and the successors and assigns thereof thereof, and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorseesendorsees, transferees and assigns until all the Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, than any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) under the Credit Documents shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) Collateralized or back-stopped in a manner reasonably satisfactory to the applicable Issuing Banks), notwithstanding that from time to time during the term of the Credit Agreement, Agreement the Credit Parties may be free from any Obligations.

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other First Lien Secured Parties and their respective successors, indorsees, transferees and assigns until all First Lien Obligations under the Credit Documents and each Pari Passu any Additional First Lien Agreement (other than, in each case, than any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) and the obligations of each Grantor under this Security Agreement shall have been satisfied by payment in full, the Commitments shall be terminated and all no Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero shall be outstanding (or all such Letters of Credit and Letter of Credit Outstandings shall have been Cash Collateralized) ), notwithstanding that from time to time during the term of the Credit Agreement, any Additional First Lien Agreements and any Secured Cash Management Agreements and Secured Hedge Agreement the Credit Parties may be free from any First Lien Obligations.