Common use of Original Security Agreement Clause in Contracts

Original Security Agreement. This Agreement amends and restates the Original Security Agreement. The Obligations of the Pledgors under the Original Security Agreement and the grant of security interest in the Pledged Collateral by the Pledgors under the Original Security Agreement shall continue under this Agreement, and shall not in any event be terminated, extinguished or annulled or constitute an extinctive novation of the Obligations of the Pledgors under the Original Security Agreement, but shall hereafter be governed by this Agreement. All references to the term “Security Agreement” in any Loan Document (other than this Security Agreement) or other document or instrument delivered in connection therewith shall be deemed to refer to this Agreement and the provisions hereof. It is understood and agreed that the Original Security Agreement is being amended and restated by entry into this Agreement on the date hereof.