Common use of Continuing Security Interest; Further Actions Clause in Contracts

Continuing Security Interest; Further Actions. This Agreement shall create a continuing lien and security interest in the Collateral and shall (a) subject to Section 17, remain in full force and effect until payment and performance in full of the Obligations or termination hereof in accordance with Section 18, (b) be binding upon Borrower, its successors and assigns, and (c) inure to the benefit of the Lender and its successors, transferees and assigns; provided, that Borrower may not assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the Lender. Without limiting the generality of the foregoing clause (c), any assignee of the Lender’s interest in any agreement or document which includes all or any of the Obligations shall, upon assignment in accordance with Section 8.4 of the Credit Agreement, become vested with all the benefits granted to the Lender herein with respect to such Obligations.

Continuing Security Interest; Further Actions. This Agreement shall create a continuing First Priority lien and security interest in the Collateral and shall (a) subject to Section 17‎17, remain in full force and effect until payment and performance in full of the Obligations or termination hereof in accordance with Section 18Obligations, (b) be binding upon Borrowerthe Grantor, its successors and assigns, and (c) inure to the benefit of the Lender and its successors, transferees and assigns; provided, provided that Borrower the Grantor may not assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the Lender. Without limiting the generality of the foregoing clause (c), any assignee of the Lender’s interest in any agreement or document which includes all or any of the Obligations shall, upon assignment in accordance with Section 8.4 9.4 of the Credit Loan Agreement, become vested with all the benefits granted to the Lender herein with respect to such Obligations.