Common use of No Merger or Novation Clause in Contracts

No Merger or Novation. The taking of any judgment or the exercise of any power of seizure or sale shall not operate to extinguish the liability of the Debtor to perform its obligations hereunder or to pay the Obligations hereby secured, shall not operate as a merger of any covenant herein contained or affect the right of the Vendors to interest in effect from time to time hereunder and the acceptance of any payment or other security shall not constitute or create any novation. The execution and delivery of this Security Agreement or of any instruments or documents supplemental hereto shall not operate as a merger of any representation, warranty, term, condition or other provision contained in any other obligation or indebtedness of the Debtor to the Vendors.

No Merger or Novation. The taking of any judgment or the exercise of any power of seizure or sale shall not operate to extinguish the liability of the Debtor Company to perform its obligations hereunder or to pay the Obligations moneys hereby secured, shall not operate as a merger of any covenant herein contained or affect the right of the Vendors Roynat to interest at the Loan Rate in effect from time to time hereunder hereunder, and the acceptance of any payment or other security shall not constitute or create any novation. The execution and delivery of this Security Agreement Debenture or of any instruments or documents supplemental hereto shall not operate as a merger of any representation, warranty, term, condition or other provision contained in any other obligation or indebtedness of the Debtor Company to the VendorsRoynat or under any Offer of Finance.