Common use of Security Interest, Etc Clause in Contracts

Security Interest, Etc. The pledge and security interests herein created and provided for stand as direct and primary security for all of the Obligations. No application of any sums received by Hawker in respect of the Collateral or any disposition thereof to the reduction of the Obligations or any part thereof shall in any manner entitle Sefton to any right, title or interest in or to the Obligations or any collateral security therefor unless and until all Obligations have been fully paid and satisfied. Sefton acknowledges and agrees that the pledge and security interests hereby created are absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever of Hawker or any other holder of any of the Obligations (other than their gross negligence or willful misconduct), and without limiting the generality of the foregoing, the pledge and security hereof shall not be impaired by any acceptance by Hawker or any other holder of any of the Obligations of any other security for or guarantors upon any of the Obligations or by any failure, neglect or omission on the part of Hawker or any other holder of any of the Obligations to realize upon or protect any of the Obligations (except as otherwise provided herein) or any collateral security therefor (except as provided herein or in any other agreement with respect to any such collateral security). The pledge and security hereof shall not in any manner be impaired or affected by (and Hawker, without notice to anyone is hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any of the Obligations, or of any collateral security therefor, or of any guarantee thereof, or of any loan agreement executed in connection therewith; provided, however, that nothing herein shall result in or effectuate an increase in the amount of the Obligations for which Sefton shall be responsible beyond which is contemplated by this Agreement and the Note.

Security Interest, Etc. The pledge and security interests herein created and provided for stand as direct and primary security for all of the Obligations. No application of any sums received by Hawker Bank in respect of the Collateral or any disposition thereof to the reduction of the Obligations or any part thereof shall in any manner entitle Sefton Pledgor to any right, title or interest in or to the Obligations or any collateral security therefor unless and until all Obligations have been fully paid and satisfied. Sefton Pledgor acknowledges and agrees that the pledge and security interests hereby created are absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever of Hawker Bank or any other holder of any of the Obligations (other than their gross negligence or willful misconduct)Obligations, and without limiting the generality of the foregoing, the pledge and security hereof interests hereby created shall not be impaired by any acceptance by Hawker Bank or any other holder of any of the Obligations of any other security for or guarantors upon any of the Obligations or by any failure, neglect or omission on the part of Hawker Bank or any other holder of any of the Obligations to realize upon or protect any of the Obligations (except as otherwise provided herein) or any collateral security therefor (except as provided herein or in any other agreement with respect to any such collateral security)therefor. The pledge and security hereof interests hereby created shall not in any manner be impaired or affected by (and HawkerBank, without notice to anyone is any Person are hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any of the Obligations, or of any collateral security therefor, or of any guarantee guaranty thereof, or of any loan agreement executed in connection therewith; provided, however, that nothing herein shall result in or effectuate an increase in the amount of the Obligations for which Sefton shall be responsible beyond which is contemplated by this Agreement and the Note.

Security Interest, Etc. 10.1 The pledge Pledge and security interests herein created and provided for stand as direct and primary security for all of the ObligationsLiabilities. No application of any sums received by Hawker Pledgee in respect of the Collateral or any disposition thereof to the reduction of the Obligations Liabilities or any part thereof shall in any manner entitle Sefton Pledgor to any right, title or interest in or to the Obligations or Liabilities of any collateral Collateral security therefor unless and until all Obligations Liabilities have been fully paid and satisfied. Sefton Pledgor acknowledges and agrees that the pledge and security interests interest hereby created are absolute and unconditional and shall not in any manner be affected effected or impaired by any acts or omissions whatsoever of Hawker Pledgee or any other holder of any of the Obligations (other than their gross negligence or willful misconduct)Liabilities, and without limiting the generality of the foregoing, the pledge and security hereof shall not be impaired by any acceptance by Hawker Pledgee or any other holder of any of the Obligations Liabilities of any other security for or guarantors upon any of the Obligations Liabilities or by any failure, neglect or omission on the part of Hawker Pledgee or any other holder of any of the Obligations Liabilities to realize upon or protect any of the Obligations (except as otherwise provided herein) Liabilities, or of any collateral Collateral security therefor (except as provided herein or in any other agreement with respect to any such collateral security)therefor. The pledge Pledge and security hereof shall not in any manner be impaired or affected by (and Hawkerand, Pledgee, without notice to anyone any one is hereby authorized to make from time to time-to-time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any of the ObligationsLiabilities, or of any collateral security therefor, or of any guarantee guaranty thereof, or of any loan agreement executed in connection therewith; provided, however, that nothing herein shall result in or effectuate an increase in the amount of the Obligations for which Sefton shall be responsible beyond which is contemplated by this Agreement and the Noteherewith.

Security Interest, Etc. 10.1 The pledge Pledge and security interests herein created and provided for stand as direct and primary security for all of the ObligationsLiabilities. No application of any sums received by Hawker Pledgee in respect of the Collateral or any disposition thereof to the reduction of the Obligations Liabilities or any part thereof shall in any manner entitle Sefton Pledgor to any right, title or interest in or to the Obligations or Liabilities of any collateral Collateral security therefor unless and until all Obligations Liabilities have been fully paid and satisfied. Sefton Pledgor acknowledges and agrees that the pledge and security interests interest hereby created are absolute and unconditional and shall not in any manner be affected effected or impaired by any acts or omissions whatsoever of Hawker Pledgee or any other holder of any of the Obligations (other than their gross negligence or willful misconduct)Liabilities, and without limiting the generality of the foregoing, the pledge and security hereof shall not be impaired by any acceptance by Hawker Pledgee or any other holder of any of the Obligations Liabilities of any other security for or guarantors upon any of the Obligations Liabilities or by any failure, neglect or omission on the part of Hawker Pledgee or any other holder of any of the Obligations to realize upon Liabilities, or protect of any of the Obligations (except as otherwise provided herein) or any collateral Collateral security therefor (except as provided herein or in any other agreement with respect to any such collateral security). therefor; The pledge Pledge and security hereof shall not in any manner be impaired or affected by (and Hawkerand, Pledgee, without notice to anyone any one is hereby authorized to make from time to time-to-time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any of the ObligationsLiabilities, or of any collateral security therefor, or of any guarantee guaranty thereof, or of any loan agreement executed in connection therewith; provided, however, that nothing herein shall result in or effectuate an increase in the amount of the Obligations for which Sefton shall be responsible beyond which is contemplated by this Agreement and the Noteherewith.