Common use of Continuing Security Clause in Contracts

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 9 contracts

Samples: Loan Facility Agreement, Stolt Comex (Stolt Offshore S A), Loan Facility Agreement (Teekay LNG Partners L.P.)

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Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings Insurances or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 6 contracts

Samples: Loan Facility Agreement (Gulfmark Offshore Inc), First Supplemental Agreement (Gulfmark Offshore Inc), Facility Agreement (Gulfmark Offshore Inc)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of neither the Finance Parties Banks nor the Agent shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 4 contracts

Samples: Loan Agreement (Mc Shipping Inc), Loan Agreement (Mc Shipping Inc), Agreement (Usg Corp)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Lender Finance Parties shall be under any further actual or contingent liability to any third party in relation to the VesselsVessel, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 4 contracts

Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Charters, Charter Guarantees, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 2 contracts

Samples: Agreement (Teekay LNG Partners L.P.), www.lw.com

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall not be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Arlington Tankers Ltd.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the VesselsVessels and/or the ROVs, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Facility Agreement (Stolt Comex Seaway S A)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of neither the Finance Parties Banks nor the Agent shall be under any no further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Qualifying Contracts, the Qualifying Contract Proceeds, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Facility Agreement (Teekay Shipping Corp)

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Continuing Security. The security constituted by the Security Documents and the Guarantee shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security DocumentsDocuments or the Guarantee.

Appears in 1 contract

Samples: Agreement (Teekay LNG Partners L.P.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of neither the Finance Parties Banks nor the Agent shall be under any no further actual or contingent liability to any third party in relation to the VesselsVessel, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of neither the Finance Parties Agent nor the Issuers shall be under any no further actual or contingent liability to any third party in relation to the VesselsVessel, the Insurances, Earnings or Requisition Compulsory Acquisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Agreement (NCL CORP Ltd.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness and the Hedging Liabilities shall have been repaid in full and none of the Finance Parties Lender shall not be under any further actual or contingent liability to any third party in relation to the VesselsVessel, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (DHT Holdings, Inc.)

Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings Insurances or Requisition Compensation or any other matter referred to in the Security Documents.

Appears in 1 contract

Samples: Gulfmark Offshore Inc

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