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 Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Pledgor and the successors and assigns thereof, and shall inure to the benefit of the Collateral Trustee and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Secured Obligations (other than any contingent indemnity obligations not then due) under the Credit Documents shall have been satisfied by payment in full, and the Commitments shall be terminated, notwithstanding that from time to time during the term of the Credit Agreement and any Designated Hedge Agreement the Credit Parties may be free from any Secured Obligations.

Appears in 3 contracts

Samples: Collateral Trust Agreement (MRC Global Inc.), Term Loan Pledge Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.)

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Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Pledgor and the successors and assigns thereof, and shall inure to the benefit of the Collateral Trustee Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Secured Obligations (other than any contingent indemnity obligations not then due) under the Credit Documents shall have been satisfied by payment in full, full and the Commitments shall be terminated, notwithstanding that from time to time during the term of the Credit Agreement and any Designated Secured Hedge Agreement the Credit Parties may be free from any Secured Obligations.

Appears in 2 contracts

Samples: Pledge Agreement (Dollar General Corp), Pledge Agreement (Dollar General Corp)

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

Appears in 1 contract

Samples: Term Loan Pledge Agreement (McJunkin Red Man Holding Corp)

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 Pledgor Grantor and the successors and assigns thereof, thereof and shall inure to the benefit of the Collateral Trustee Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Secured Obligations (other than any contingent indemnity obligations not then due) under the Credit Documents and the obligations of each Grantor under this Security Agreement shall have been satisfied by payment in full, and the Commitments shall be terminatedterminated and no Letters of Credit shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement and any Designated Hedge Agreement the Credit Parties may be free from any Secured Obligations.

Appears in 1 contract

Samples: Security Agreement (Rockwood Specialties Group Inc)

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Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Pledge Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each the Pledgor and the successors and assigns thereof, and shall inure to the benefit of the Collateral Trustee Administrative Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Secured Obligations (other than any contingent indemnity obligations not then due) under the Credit Documents shall have been satisfied by payment in full, and the Commitments shall be terminatedterminated and no Letters of Credit shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement and any Designated Hedge Agreement the Credit Parties may be free from any Secured Obligations.

Appears in 1 contract

Samples: Security Agreement (Rockwood Specialties Group Inc)

Continuing Security Interest; Assignments Under the Credit Agreement; Release. (a) This Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Pledgor and the successors and assigns thereof, and shall inure to the benefit of the Collateral Trustee Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all the Secured Obligations (other than any contingent indemnity obligations not then due) under the Credit Documents shall have been satisfied by payment in full, and the Commitments shall be terminated, notwithstanding that from time to time during the term of the Credit Agreement and any Designated Hedge Agreement the Credit Parties Borrower may be free from any Secured Obligationsobligations.

Appears in 1 contract

Samples: Term Loan Pledge Agreement (McJunkin Red Man Holding Corp)

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