Common use of Independent Security Clause in Contracts

Independent Security. The security provided for in this Agreement shall be in addition to and shall be independent of every other security which the Collateral Agent may at any time hold for any of the Secured Obligations hereby secured, whether or not under the Senior Security Documents. The execution of any other Senior Security Document shall not modify or supersede the security interest or any rights or obligations contained in this Agreement and shall not in any way affect, impair or invalidate the effectiveness and validity of this Agreement or any term or condition hereof. The Pledgor hereby waives its rights to plead or claim in any court that the execution of any other Senior Security Document is a cause for extinguishing, invalidating, impairing or modifying the effectiveness and validity of this Agreement or any term or condition contained herein. The Collateral Agent shall be at liberty to accept further security from the Pledgor or from any third party and/or release such security without notifying the Pledgor and without affecting in any way the obligations of the Pledgor under the Senior Security Documents or the other Financing Documents. The Collateral Agent, upon directions from (x) the Intercreditor Agent acting pursuant to the Intercreditor Agreement or (y) the Senior Secured Parties acting pursuant to Section 7.15 of the Intercreditor Agreement, or as otherwise expressly provided herein, shall determine if any security conferred upon the Collateral Agent under the Senior Security Documents shall be enforced by the Collateral Agent, as well as the sequence of securities to be so enforced.

Independent Security. The security provided for in this Agreement shall be in addition to and shall be independent of every other security which the Collateral Agent Senior Secured Parties may at any time hold for any of the Secured Obligations hereby secured, whether or not under the Senior Security Documents. The execution of any other Senior Security Document shall not modify or supersede the security interest or any rights or obligations contained in this Agreement and shall not in any way affect, impair or invalidate the effectiveness and validity of this Agreement or any term or condition hereof. The Pledgor hereby waives its rights right to plead or claim in any court that the execution of any other Senior Security Document is a cause for extinguishing, invalidating, impairing or modifying the effectiveness and validity of this Agreement or any term or condition contained herein. The Collateral Agent shall be at liberty to accept further security from the Pledgor or from any third party and/or release such security without notifying the Pledgor and without affecting in any way the obligations of the Pledgor under the Senior Security Documents or the other Financing Documents. The Collateral Agent, upon directions from (x) the Intercreditor Agent acting pursuant to the Intercreditor Agreement or (y) the Senior Secured Parties acting pursuant to Section 7.15 of the Intercreditor Agreement, or as otherwise expressly provided herein, shall determine if any security conferred con- ferred upon the Collateral Agent Senior Secured Parties under the Senior Security Documents shall be enforced by the Collateral Agent, as well as the sequence of securities to be so enforced.

Independent Security. The security provided for in this Agreement shall be in addition to and shall be independent of every other security which the Collateral Agent Senior Secured Parties may at any time hold for any of the Secured Obligations hereby secured, whether or not under the Senior Security Documents. The execution of any other Senior Security Document shall not modify or supersede the security interest or any rights or obligations contained in this Agreement and shall not in any way affect, impair or invalidate the effectiveness and validity of this Agreement or any term or condition hereof. The Pledgor hereby waives its rights right to plead or claim in any court that the execution of any other Senior Security Document is a cause for extinguishing, invalidating, impairing or modifying the effectiveness and validity of this Agreement or any term or condition contained herein. The Collateral Agent shall be at liberty to accept further security from the Pledgor or from any third party and/or release such security without notifying the Pledgor and without affecting in any way the obligations of the Pledgor under the Senior Security Documents or the other Financing Documents. The Collateral Agent, upon directions from (x) the Intercreditor Agent acting pursuant to the Intercreditor Agreement or (y) the Senior Secured Parties acting pursuant to Section 7.15 of the Intercreditor Agreement, or as otherwise expressly provided herein, shall determine if any security conferred upon the Collateral Agent under the Senior Security Documents shall be enforced by the Collateral Agent, as well as the sequence of securities to be so enforced.

Independent Security. The security provided for in this Agreement shall be in addition to and shall be independent of every other security which the Collateral Agent or the other Senior Secured Parties may at any time hold for any of the Senior Secured Obligations hereby secured, whether or not under the Senior Security Documents. The execution of any other Senior Security Document shall not modify or supersede the security interest or any rights or obligations contained in this Agreement and shall not in any way affect, impair or invalidate the effectiveness and validity of this Agreement or any term or condition hereof. The Pledgor Grantor hereby waives its rights right to plead or claim in any court that the execution of any other Senior Security Document is a cause for extinguishing, invalidating, impairing or modifying the effectiveness and validity of this Agreement or any term or condition contained herein. The Collateral Agent shall be at liberty to accept further security from the Pledgor Grantor or from any third party and/or release such security without notifying the Pledgor Grantor and without affecting in any way the obligations of the Pledgor Grantor under the Senior Security Documents or the other Financing Documents. The Collateral Agent, upon directions from (x) the Intercreditor Agent acting pursuant to the Intercreditor Agreement or (y) the Senior Secured Parties acting pursuant to Section SECTION 7.15 of the Intercreditor Agreement, or as otherwise expressly provided herein, shall determine if any security conferred upon the Collateral Agent and the other Senior Secured Parties under the Senior Security Documents shall be enforced by the Collateral Agent, as well as the sequence of securities to be so enforced.

Independent Security. The security provided for in this Agreement shall be in addition to and shall be independent of every other security which the Collateral Agent or the other Senior Secured Parties may at any time hold for any of the Senior Secured Obligations hereby secured, whether or not under the Senior Security Documents. The execution of any other Senior Security Document shall not modify or supersede the security interest or any rights or obligations contained in this Agreement and shall not in any way affect, impair or invalidate the effectiveness and validity of this Agreement or any term or condition hereof. The Pledgor Grantor hereby waives its rights right to plead or claim in any court that the execution of any other Senior Security Document is a cause for extinguishing, invalidating, impairing or modifying the effectiveness and validity of this Agreement or any term or condition contained herein. The Collateral Agent shall be at liberty to accept further security from the Pledgor Grantor or from any third party and/or release such security without notifying the Pledgor Grantor and without affecting in any way the obligations of the Pledgor Grantor under the Senior Security Documents or the other Financing Documents. The Collateral Agent, upon directions from (x) the Intercreditor Agent acting pursuant to the Intercreditor Agreement or (y) the Senior Secured Parties acting pursuant to Section 7.15 of the Intercreditor Agreement, or as otherwise expressly provided herein, shall determine if any security conferred upon the Collateral Agent or the other Senior Secured Parties under the Senior Security Documents shall be enforced by the Collateral Agent, as well as the sequence of securities to be so enforced.