Common use of Security in Addition Clause in Contracts

Security in Addition. The Security Interests do not replace or otherwise affect any existing or future Encumbrance held by the Secured party. Neither the taking of any action, suit or proceedings, judicial or extra- judicial, nor the refraining from so doing, nor any dealing with any other security for any Obligations shall release or affect the Security Interests. Neither the taking of any action, suit or proceedings, judicial or extra-judicial, pursuant to this Security Agreement, nor the refraining from so doing, nor any dealing with any Collateral shall release or affect any of the Secured Party's other security for the payment or performance of any Obligation.