Common use of Security Interest Absolute, etc Clause in Contracts

Security Interest Absolute, etc. This IP Security Agreement shall in all respects be a continuing, absolute, unconditional and irrevocable grant of security interest, and shall remain in full force and effect until the Termination Date. All rights of the Secured Party and the security interests granted to the Secured Party (for its benefit) hereunder, and all obligations of the Grantor hereunder, shall, in each case, be absolute, unconditional and irrevocable irrespective of: (a) any lack of validity, legality or enforceability of any Finance Document; (b) the failure of the Secured Party (i) to assert any claim or demand or to enforce any right or remedy against any Obligor or any other Person (including any other Grantor) under the provisions of any Finance Document or otherwise, or (ii) to exercise any right or remedy against any guarantor of, or Intellectual Property Collateral or other collateral securing, any Obligations; (c) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Obligations, or any other extension, compromise or renewal of any Obligations; (d) any reduction, limitation, impairment or termination of any Obligations for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to (and the Grantor hereby waives any right to or claim of) any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality, nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Obligations or otherwise; (e) any amendment to, rescission, waiver, or other modification of, or any consent to or departure from, any of the terms of any Finance Document;

Security Interest Absolute, etc. This IP Security Agreement shall in all respects be a continuing, absolute, unconditional and irrevocable grant of security interest, and shall remain in full force and effect until the Termination Dateterminated. All rights of the Secured Party and the security interests Security Interest granted to the Secured Party (for its benefit) hereunder, and all obligations of the Grantor Debtor hereunder, shall, in each case, be absolute, unconditional and irrevocable irrespective of: (a) : any lack of validity, legality or enforceability of this Agreement, the Assignment Agreement or any Finance Document; other Closing Document (b) collectively, the “Transaction Documents”); the failure of the Secured Party (i) to assert any claim or demand or to enforce any right or remedy against any Obligor Debtor or any other Person (including any other Grantor) under the provisions of any Finance Transaction Document or otherwise, or (ii) to exercise any right or remedy against any guarantor of, or Intellectual Property Collateral or other collateral securing, any Obligations; (c) ; any change in the time, manner or place of payment of, or in any other term of, all or any part of the Obligations, or any other extension, compromise or renewal of any Obligations; (d) ; any reduction, limitation, impairment or termination of any Obligations for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to (and the Grantor Debtor hereby waives any right to or claim of) any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality, nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Obligations or otherwise; (e) ; any amendment other circumstance which might otherwise constitute a defense available to, rescission, waiver, or other modification a legal or equitable discharge of, Debtor or any consent to or departure from, any of other Person under the terms provisions of any Finance Transaction Document;.