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

Continuing Security Interest; Transfer of Note. This Security Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect until payment in full of the Secured Indebtedness, (ii) bind Debtor, its successors and assigns, and (iii) inure to the benefit of Secured Party and its successors, transferees and assigns. Upon the payment in full of the Secured Indebtedness, the security interest granted hereby shall terminate and all rights of Secured Party in and to the Collateral shall revert to Debtor. Upon any such termination, Secured Party shall execute and deliver to Debtor such documents as Debtor shall reasonably request to evidence such termination. This Security Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Secured Indebtedness is rescinded or must otherwise be returned by Secured Party upon the insolvency, bankruptcy or reorganization of Debtor or otherwise, all as though such payment had not been made.

Continuing Security Interest; Transfer of Note. This Security Agreement shall create a continuing security interest in the Collateral and shall shall: (i) remain in full force and effect until payment in full of the Secured Indebtedness, Obligations; (ii) bind Debtorbe binding upon Borrower, its successors and assigns, ; and (iii) inure to the benefit of the Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (iii), the Secured Party may assign the Note or any portion thereof held by it to any other person or entity, and such other person or entity shall thereupon become vested, ratably, with all the benefits in respect thereof granted to the Secured Party herein or otherwise. Upon the payment in full of the Secured IndebtednessObligations, the security interest granted hereby shall terminate and all rights of Secured Party in and to the Collateral shall revert to DebtorBorrower. Upon any such termination, the Secured Party shall will, at its expense, execute and deliver to Debtor Borrower such documents as Debtor Borrower shall reasonably request to evidence such termination. This Security Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Secured Indebtedness is rescinded or must otherwise be returned by Secured Party upon the insolvency, bankruptcy or reorganization of Debtor or otherwise, all as though such payment had not been made.