Common use of Continuing Security Interest; Transfer of Interest Clause in Contracts

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until payment in full and termination of the Secured Obligations, (b) be binding upon each Grantor, its successors, and assigns, and (c) inure, together with the rights and remedies of the Agent hereunder, to the benefit of the Agent, the Banks, and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by any Grantor shall revert to such Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Upon any such termination, the Agent will, at each Grantor's expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until payment in full and termination of the Secured Obligations, (b) be binding upon each the Grantor, its successors, and assigns, and (c) inure, together with the rights and remedies of the Agent hereunder, to the benefit of the Agent, the Banks, and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by any the Grantor shall revert to such the Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Upon any such termination, the Agent will, at each the Grantor's expense, execute and deliver to such the Grantor such documents as such the Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Pledge Agreement shall create a continuing security interest in the Pledged Collateral and and, unless expressly released by Secured Party, shall (ai) remain in full force and effect until payment in full and termination of the Secured Obligations, (bii) be binding upon each GrantorPledgor, its Secured Party, the Lenders and their successors, and assigns, and (ciii) inure, together with the rights and remedies of the Agent Secured Party hereunder, to the benefit of the Agentand be binding upon, Secured Party, the Banks, Lenders and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Pledged Collateral pledged by any Grantor shall revert to such Grantor Pledgor to the extent such Pledged Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Without limiting the generality of the foregoing clause, when any Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Loan Document to any other Person pursuant to the terms of the Credit Agreement or other Loan Document, that other Person shall thereupon become vested with all the benefits held by such Lender under this Pledge Agreement. Upon any such termination, the Agent Secured Party will, at each Grantor's Pledgor’s expense, deliver all Pledged Collateral to Pledgor, execute and deliver to such Grantor Pledgor such documents as such Grantor Pledgor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and and, unless expressly released by the Administrative Agent, shall (ai) remain in full force and effect until the payment in full and termination of the Secured Obligations (including all Letter of Credit Obligations), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Bank and the Lenders in respect of Letters of Credit other than if such Letters of Credit are collateralized in the manner permitted by the Credit Agreement, and the termination or expiration of the Revolving Commitments, (bii) be binding upon each Grantor, Grantor and its successors, transferees and assigns, and (ciii) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of and be binding upon, the Administrative Agent, the BanksIssuing Bank, and the Lenders and their respective successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap Counterparties, and each of their respective successors, transferees, and assigns to the extent such successors, transferees, and assigns of a Swap Counterparty is a Lender or an Affiliate of a Lender. Without limiting the generality of the foregoing clause, when any Bank Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Loan Document to any other Person pursuant to the terms of the Credit Agreement or such other Credit Loan Document, that other Person shall thereupon become vested with all the benefits held by such Bank Lender under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by any Grantor shall revert to such Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Upon any such termination, the Agent will, at each Grantor's expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.