{"component": "clause", "props": {"groups": [{"snippet": "9.1 The security constituted by this Deed shall be held by the Secured Party as a continuing security for the payment and discharge of the Secured Obligations and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations including wheresoever such payment or satisfaction is made pursuant to the insolvency or bankruptcy of the Chargor and shall be binding until all the Secured Obligations have been unconditionally and irrevocably paid and discharged in full.\n9.2 The Chargor waives any right he or she may have of requiring the Secured Party (or any Receiver, or trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any other person before claiming under or enforcing the security granted or taken under this Deed.\n9.3 No failure, delay or omission by the Secured Party or any receiver in exercising any right, power or remedy under this Deed shall impair such right, power or remedy or be construed as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy.\n9.4 Any waiver by the Secured Party of any of the terms of this Deed or any consent or approval given by the Secured Party shall only be effective if given in writing and then only for the purpose and upon the terms and conditions for which it is given.\n9.5 Any settlement, release or discharge under this Deed or the Share Purchase Agreement shall be conditional upon no security or payment to the Secured Party being avoided or set aside or ordered to be refunded or reduced by virtue of any provision or enactment relating to insolvency, administration or liquidation for the time being in force or for any other reason and, if such condition is not satisfied, the Secured Party shall be entitled to receive from the Chargor on demand the value of such security or the amount of any such payment as if such settlement, release or discharge had not occurred.\n9.6 The Secured Party shall not be concerned to see or investigate the powers or authorities of the Chargor and moneys obtained or Secured Obligations incurred in the purported exercise of such powers or authorities or by any person purporting to be acting for or on behalf of the Chargor shall be deemed to form a part of the Secured Obligations, and \"Secured Obligations\" shall be construed accordingly.\n9.7 The Chargor agrees that, upon the occurrence of an Event of Default, the Secured Party shall be free to pursue all available remedies as the Secured Party in its absolute discretion considers appropriate in relation to the Charged Property without objection, opposition or interference from the Chargor, and that any rights to stay, enjoin, or which could otherwise delay or impede the remedies of the Secured Party against the Charged Property are hereby waived and released by the Chargor.\n9.8 The collateral constituted by this Deed shall be cumulative, in addition to and independent of every other security which the Secured Party may at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No prior security held by the Secured Party over the whole or any part of the Charged Property shall merge into the collateral constituted by this Deed.\n9.9 Until the Secured Obligations have been unconditionally and irrevocably satisfied and discharged in full to the satisfaction of the Secured Party, the Chargor shall not by virtue of any payment made hereunder on account of the Secured Obligations or by virtue of any enforcement by the Secured Party of its rights under, or the security constituted by, this Charge or by virtue of any relationship between or transaction involving, the Chargor and the Company (whether such relationship or transaction shall constitute the Chargor a creditor of the Company, a guarantor of the obligations of the Company or a party subrogated to the rights of others against the Company or otherwise howsoever and whether or not such relationship or transaction shall be related to, or in connection with, the subject matter of this Charge):\n(a) exercise any rights of subrogation in relation to any rights, security or moneys held or received or receivable by the Secured Party or any person;\n(b) exercise any right of contribution from any co-surety liable in respect of such moneys and liabilities under any other guarantee, security or agreement;\n(c) exercise any right of set-off or counterclaim against the Company or any such co-surety;\n(d) receive, claim or have the benefit of any payment, distribution, security or indemnity from the Company or any such co-surety; or\n(e) unless so directed by the Secured Party (when the Chargor will prove in accordance with such directions), claim as creditor of the Company or any such co-surety in competition with the Secured Party. The Chargor shall hold in trust for the Secured Party and forthwith pay or transfer (as appropriate) to the Secured Party any such payment (including an amount equal to any such set-off), distribution or benefit of such security, indemnity or claim in fact received by the Chargor.\n9.10 Until the Secured Obligations have been unconditionally and irrevocably satisfied and discharged in full to the satisfaction of the Secured Party, the Secured Party may at any time keep in a separate interest bearing account or accounts in the name of the Secured Party for as long as it may think fit, any moneys received, recovered or realised under this Charge or under any other guarantee, security or agreement relating in whole or in part to the Secured Obligations without being under any intermediate obligation to apply the same or any part thereof in or towards the discharge of such amount.\n9.11 The Chargor confirms that he is a sophisticated business man and that prior to entering into this Deed, he has taken such advice (including without limitation, legal advice) as to his liabilities and obligations hereunder as he considers necessary.", "size": 44, "snippet_links": [{"key": "the-security", "type": "clause", "offset": [4, 16]}, {"key": "this-deed", "type": "clause", "offset": [32, 41]}, {"key": "discharge-of-the-secured-obligations", "type": "definition", "offset": [122, 158]}, {"key": "satisfaction-of", "type": "clause", "offset": [241, 256]}, {"key": "pursuant-to-the", "type": "definition", "offset": [352, 367]}, {"key": "insolvency-or-bankruptcy", "type": "clause", "offset": [368, 392]}, {"key": "the-chargor", "type": "definition", "offset": [396, 407]}, {"key": "discharged-in-full", "type": "definition", "offset": [514, 532]}, {"key": "other-rights", "type": "clause", "offset": [704, 716]}, {"key": "claim-payment", "type": "clause", "offset": [732, 745]}, {"key": "any-other-person", "type": "definition", "offset": [751, 767]}, {"key": "delay-or-omission", "type": 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Sources LTD /Bermuda)", "score": 18.0, "published": true}, {"hash": "eoY1PFNYcr0", "uri": "/contracts/eoY1PFNYcr0#continuing-security", "label": "Security Agreement (Hill Street Trustees LTD Trustees of the Quan Gung 86 Trust)", "score": 18.0, "published": true}, {"hash": "6c49O9xLdkd", "uri": "/contracts/6c49O9xLdkd#continuing-security", "label": "Agreement for the Sale of Shares (Hill Street Trustees LTD Trustees of the Quan Gung 86 Trust)", "score": 18.0, "published": true}], "hash": "02f4b00227bd9f3b2acdec41c7ccbf36", "id": 1}, {"snippet": "This Security is a continuing security and will extend to the ultimate balance of the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.", "size": 42, "snippet_links": [{"key": "security-and", "type": "clause", "offset": [30, 42]}, {"key": "secured-liabilities", "type": "clause", "offset": [86, 105]}, {"key": "regardless-of-any", "type": "clause", "offset": [107, 124]}], "samples": [{"hash": "3zbMjEO1tzw", "uri": "/contracts/3zbMjEO1tzw#continuing-security", "label": "Debenture Agreement (Diodes Inc /Del/)", "score": 32.0691299438, "published": true}, {"hash": "lHXfYBkJcgB", "uri": "/contracts/lHXfYBkJcgB#continuing-security", "label": "Syndicated Loan Agreement (HeadHunter Group PLC)", "score": 29.2491436005, "published": true}, {"hash": "4NdtmVHeteD", "uri": "/contracts/4NdtmVHeteD#continuing-security", "label": "Syndicated Loan Agreement (HeadHunter Group PLC)", "score": 29.1916503906, "published": true}], "hash": "ceebbbcd35cd686b11fdfa1ef3f7c2ab", "id": 2}, {"snippet": "The security created by the Mortgage and this Deed shall:\n5.1.1 be held by the Mortgagee as a continuing security for the payment of the Outstanding Indebtedness and the performance and observance of and compliance by the Owner with all of the covenants, terms and conditions contained in the Security Documents to which the Owner is or is to be a party, express or implied and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the amount hereby and thereby secured (or by any settlement of accounts between the Owner or any other person who may be liable to the Mortgagee in respect of the Outstanding Indebtedness or any part thereof and the Mortgagee);\n5.1.2 be in addition to, and shall not in any way prejudice or affect, and may be enforced by the Mortgagee without prior recourse to, the security created by any other of the Security Documents or by any present or future Collateral Instruments, right or remedy held by or available to the Mortgagee or any right or remedy of the Mortgagee thereunder; and\n5.1.3 not be in any way prejudiced or affected by the existence of any of the other Security Documents or any such Collateral Instrument, rights or remedies or by the same becoming wholly or in part void, voidable or unenforceable on any ground whatsoever or by the Mortgagee dealing with, exchanging, varying or failing to perfect or enforce any of the same, or giving time for payment or performance or indulgence or compounding with any other person liable.", "size": 39, "snippet_links": [{"key": "created-by", "type": "definition", "offset": [13, 23]}, {"key": "this-deed", "type": "clause", "offset": [41, 50]}, {"key": "the-mortgagee", "type": "clause", "offset": [75, 88]}, {"key": "payment-of-the", "type": "clause", "offset": [122, 136]}, {"key": "outstanding-indebtedness", "type": "definition", "offset": [137, 161]}, {"key": "the-performance", "type": "clause", "offset": [166, 181]}, {"key": "by-the-owner", "type": "clause", "offset": [215, 227]}, {"key": "the-covenants", "type": "clause", "offset": [240, 253]}, {"key": "terms-and-conditions", "type": "definition", "offset": [255, 275]}, {"key": "contained-in", "type": "definition", "offset": [276, 288]}, {"key": "the-security-documents", "type": "clause", "offset": [289, 311]}, {"key": "a-party", "type": "clause", "offset": [346, 353]}, {"key": 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No item or part of the Security shall be merged or be deemed to have been merged in or by this Agreement or any documents, instruments or acknowledgements delivered hereunder, or any simple contract debt or any judgment, and any realization of or steps taken under or pursuant to any security, instrument or agreement shall be independent of and not create a merger with any other right available to the Lenders or the Agent under any security, instruments or agreements held by it or at law or in equity.", "size": 26, "snippet_links": [{"key": "the-security", "type": "clause", "offset": [21, 33]}, {"key": "all-purposes", "type": "definition", "offset": [44, 56]}, {"key": "a-separate", "type": "definition", "offset": [71, 81]}, {"key": "security-and", "type": "clause", "offset": [108, 120]}, {"key": "in-addition-to", "type": "clause", "offset": [156, 170]}, {"key": "place-of", "type": "definition", "offset": [182, 190]}, {"key": "other-security", "type": "definition", "offset": [237, 251]}, {"key": "by-the-agent", "type": "clause", "offset": [283, 295]}, {"key": "the-lenders", "type": "clause", "offset": [299, 310]}, {"key": "agreement-or", "type": "definition", "offset": [407, 419]}, {"key": "contract-debt", "type": "clause", "offset": [502, 515]}, {"key": "steps-taken", "type": "clause", "offset": [559, 570]}, {"key": "pursuant-to", "type": "clause", "offset": [580, 591]}, {"key": "available-to", "type": "definition", "offset": [699, 711]}], "samples": [{"hash": "65BjjsHunoA", "uri": "/contracts/65BjjsHunoA#continuing-security", "label": "Credit Agreement (Baytex Energy Corp.)", "score": 36.9753608704, "published": true}, {"hash": "jLuwt8gxXAz", "uri": "/contracts/jLuwt8gxXAz#continuing-security", "label": "Credit Agreement (Baytex Energy Corp.)", "score": 36.6112251282, "published": true}, {"hash": "ga8uABjU9bs", "uri": "/contracts/ga8uABjU9bs#continuing-security", "label": "Credit Agreement (Obsidian Energy Ltd.)", "score": 36.3894577026, "published": true}], "hash": "b0a2cb56b7c48a42d32ba0522150b6ff", "id": 5}, {"snippet": "The security created by this Agreement and each of the other Security Documents shall be held by the Trustee and/or the Agent and/or the Lenders and/or the Hermes Agent as a continuing security for the repayment of the Outstanding Indebtedness and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the amount hereby or thereby secured or by any amendment of this Agreement or any of the other Security Documents. Such security shall be in addition to and shall not in any way be prejudiced or affected by any collateral or other security now or hereafter held by the Trustee, the Agent, the Lenders, the Hermes Agent or any of them for all or any part of the amount hereby or thereby secured or any other right or remedy of the Trustee, the Agent, the Lenders or the Hermes Agent or any of them under this Agreement or any of the other Security Documents, by operation of law or otherwise howsoever arising. All the powers arising from such security may be exercised from time to time as the Trustee and/or the Agent and/or the Hermes Agent may deem expedient.", "size": 22, "snippet_links": [{"key": "the-security", "type": "clause", "offset": [0, 12]}, {"key": "by-this-agreement", "type": "clause", "offset": [21, 38]}, {"key": "other-security-documents", "type": "definition", "offset": [55, 79]}, {"key": "by-the-trustee", "type": "clause", "offset": [94, 108]}, {"key": "the-agent", "type": "clause", "offset": [116, 125]}, {"key": "the-lenders", "type": "clause", "offset": [133, 144]}, {"key": "hermes-agent", "type": "definition", "offset": [156, 168]}, {"key": "repayment-of", "type": "clause", "offset": [202, 214]}, {"key": "outstanding-indebtedness", "type": "definition", "offset": [219, 243]}, {"key": "satisfaction-of", "type": "clause", "offset": [326, 341]}, {"key": "agreement-or", "type": "definition", "offset": [419, 431]}, {"key": "such-security", "type": "definition", "offset": [469, 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In practice, this means that even if some debts are repaid or the agreement is amended, the security continues to cover any outstanding or future obligations that may arise under the contract. This clause ensures that the lender or secured party retains protection against default until the borrower has met all their commitments, thereby reducing the risk of unsecured exposure."}, "json": true, "cursor": ""}}