continuing security interest definition

continuing security interest means a security interest that –
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continuing security interest. (the "SECURITY INTEREST"), in all of the Grantor's right, title and interest in, to and under the following, in each case, whether now owned or existing or hereafter acquired, arising or created, and wherever located: (i) all Receivables, (ii) all Documents, (iii) all Equipment, (iv) all General Intangibles, (v) all Inventory, (vi) all Investment Property, (vii) all Contracts and Contract Rights, (viii) all cash collateral accounts and securities accounts established with respect to the Grantor, including, without limitation, the Depositary Accounts and all checking, savings, deposit or other accounts of the Grantor and all monies, cash, securities, investment property, financial assets, insurance policies and instruments deposited, credited or required to be deposited or credited in such cash collateral, securities or other account and all security entitlements with respect thereto, now or at any time hereafter in the possession or under the control of the Grantor or its bailees and any interest therein, (ix) all Governmental Approvals, PROVIDED that any Governmental Approval which by its terms or by operation of law would become void, voidable, terminable or revocable if mortgaged, pledged, charged or assigned hereunder or if a security interest therein were granted hereunder are expressly excepted and excluded from the Lien and the terms of this Funding Company Security Agreement to the extent necessary so as to avoid such voidness, voidability, terminability or revocability, (x) without limiting the generality of the foregoing, all other personal property, goods, Instruments, Chattel Paper, credits, claims, demands, assets, and books and records, customer lists, ledger cards, credit files, print-outs, and other materials and records pertaining to any of the foregoing, of the Grantor, whether now existing or hereafter acquired from time to time, and (xi) any and all additions and accessions to any of the foregoing, all improvements thereto, all substitutions and replacements therefor and all products and Proceeds thereof (all of the above collectively, the "FUNDING COMPANY SECURITY AGREEMENT COLLATERAL"). The Funding Company Security Agreement Collateral hereunder expressly excludes and the Security Interest granted thereupon shall not attach to the amount of the transaction fee paid by the Sponsor to the Grantor and the paid-up share capital of the Grantor, in an initial aggregate amount equal to US$2000.00. Subject to Permitted Liens, such Security In...
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Related to continuing security interest

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Permitted Security Interest means any Security Interest:

  • Prior Security Interest means a valid and enforceable perfected first-priority security interest under the Uniform Commercial Code in the Collateral which is subject only to statutory Liens for taxes not yet due and payable or Purchase Money Security Interests.

  • Existing Security Agreement shall have the meaning set forth in the recitals.

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;