Common use of CONTINUING SECURITY INTEREST; TRANSFER OF LOANS Clause in Contracts

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Secured Obligations, (b) be binding upon Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank may assign or otherwise transfer any Loans held by it to any other person, and such other person shall thereupon become vested with all the benefits in respect thereof granted to Banks herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantor. Upon any such termination Secured Party will, at Secured Party’s expense, execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations, (b) be binding upon Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer any Loans Note held by it to any other personPerson, and such other person shall thereupon become vested with all the benefits in respect thereof granted to Banks Lenders herein or otherwise. Upon the indefeasible payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantor. Upon any such termination Secured Party will, at Secured PartyGrantor’s expense, execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations, (b) be binding upon Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer any Loans Note held by it to any other personPerson, and such other person shall thereupon become vested with all the benefits in respect thereof granted to Banks Lenders herein or otherwise. Upon the indefeasible payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantor. Upon any such termination Secured Party will, at Secured Party’s Grantor's expense, execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon GrantorPledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank Without limiting the generality of the foregoing clause (c), but subject to the provisions of Section 2.04 of the Subordinated Note Agreement, any Holder may assign or otherwise transfer any Loans Note held by it to any other personPerson, and such other person Person shall thereupon become vested with all the benefits in respect thereof granted to Banks Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to GrantorPledgor. Upon any such termination Secured Party will, at Secured Party’s Pledgor's expense, execute and deliver to Grantor Pledgor such documents as Grantor Pledgor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Secured Obligations, (b) be binding upon Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank may assign or otherwise transfer any Loans held by it to any other person, and such other person shall thereupon become vested with all the benefits in respect thereof granted to Banks herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantor. Upon any such termination Secured Party will, at Secured Party’s 's expense, execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations, (b) be binding upon Grantorthe Pledgors, its and their respective successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank may assign or otherwise transfer any Loans held by it to any other person, and such other person shall thereupon become vested with all the benefits in respect thereof granted to Banks herein or otherwise. Upon the indefeasible payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantorthe Pledgors. Upon any such termination Secured Party willshall, at Secured Party’s the Pledgors’ expense, execute and deliver to Grantor the Pledgors such documents as Grantor the Pledgors shall reasonably request to evidence such terminationtermination and the Pledgors shall be entitled to the return, upon the request and at the expense of the Pledgors, against receipt and without recourse to Secured Party, of such of the Collateral as shall not have been otherwise applied pursuant to the terms hereof.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Secured Obligations, (b) be binding upon Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Any Bank Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 2.06 of the Indenture, any Holder may assign or otherwise transfer any Loans Notes held by it to any other personPerson, and such other person Person shall thereupon become vested with all the benefits in respect thereof granted to Banks Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantor. Upon any such termination Secured Party will, at Secured Party’s Grantor's expense, execute and deliver to Grantor such documents as Grantor shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) Obligations and shall be binding upon each Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party the Collateral Trustee hereunder, to the benefit of Secured Party the Collateral Trustee and its successors, transferees and assigns. Any Bank Without limiting the generality of the foregoing, but subject to the terms of the Parity Lien Documents, any Secured Party may assign or otherwise transfer any Loans Obligations held by it to any other personPerson, and such other person Person shall thereupon become vested with all the benefits in respect thereof granted to Banks such Secured Party herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral shall revert to GrantorGrantors. Upon any such termination Secured Party willthe Collateral Trustee shall, at Secured Party’s Grantors' expense, execute and deliver to Grantor Grantors such documents as Grantor Grantors shall reasonably request to evidence such termination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and its successors, transferees and assigns, for the benefit and on behalf of the Lenders and Lender Counterparties. Any Bank Without limiting the generality of the foregoing, any Secured Party may assign or otherwise transfer any Loans Secured Obligations held by it to any other personPerson subject to and in compliance with the terms of the Credit Agreement, and such other person Person shall thereupon become vested with all the benefits in respect thereof granted to Banks the Secured Party herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral shall revert to GrantorGrantors. Upon any such termination the Secured Party willshall, at Secured Party’s Grantors’ expense, execute and deliver to Grantor Grantors such documents as Grantor Grantors shall reasonably request to evidence such termination.