Continuing Security Interest; Termination. (a) This Pledge Agreement shall create a continuing security interest in and to the Collateral and shall, unless otherwise provided in the Indenture or in this Pledge Agreement, remain in full force and effect until the Termination Date. This Pledge Agreement shall be binding upon the parties hereto and their respective transferees, successors and assigns, and shall inure, together with the rights and remedies of the Trustee and the Collateral Agent hereunder, to the benefit of the Trustee, the Collateral Agent, the Pledgor, the Holders and their respective successors, transferees and assigns.
Continuing Security Interest; Termination. This Section shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written request and at Borrowers’ expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s expenses in connection therewith.
Continuing Security Interest; Termination. (a) This Agreement shall create a continuing security interest in the Collateral in favor of the Issuing Lender and shall remain in full force and effect in accordance with its terms until all of the Secured Obligations are paid or satisfied in full.
Continuing Security Interest; Termination. This Section 2.15 shall create a continuing pledge of and security interest in the Account Collateral and shall remain in full force and effect until payment in full by Borrower of the Indebtedness. Upon payment in full by Borrower of the Indebtedness, Lender shall return to Borrower such of the Account Collateral as shall not have been applied pursuant to the terms hereof, and shall execute such instruments and documents as may be reasonably requested by Borrower to evidence such termination and the release of the pledge and lien hereof.
Continuing Security Interest; Termination. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations and termination of Obligee's obligations to lend and extend credit under the Secured Agreement, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of Collateral Agent and Obligee hereunder, to the benefit of Collateral Agent and Obligee and the successors, transferees and assigns of each. Without limiting the generality of the foregoing clause (c), Obligee may, subject to the provisions of the Secured Agreement, assign or otherwise transfer the Note, or portion thereof, or any other obligations secured hereby and any agreements or instruments executed in connection therewith to any other person or entity, and such other person or entity shall thereupon become vested with all the benefits in respect thereof granted to Obligee herein or otherwise. Upon the indefeasible payment in full of the Secured Obligations and termination of Obligee's obligations to lend or extend credit under the Secured Agreement, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Grantors. Upon any such termination, Collateral Agent will, at the Grantors' expense, execute and deliver to the Grantors, against receipt and without recourse to or warranty by Collateral Agent, such documents as the Grantors shall reasonably request to evidence such termination.
Continuing Security Interest; Termination. This Agreement shall create a continuing security interest in the Pledged Collateral and shall remain in full force and effect until the indefeasible payment in full of the Obligations. Upon the indefeasible payment in full of the Obligations, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to the Pledgors. Upon any such termination, the Agent shall, at such Pledgors’ expense, return, pro-rata, to the Pledgors such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to such Pledgors such documents as such Pledgors shall reasonably request to evidence such termination.
Continuing Security Interest; Termination. (a) Except as provided in Section 25(b), this Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect until the later of the payment or satisfaction in full of the Obligations (other than contingent indemnity obligations) and the termination of the Credit Agreement, (ii) be binding upon Grantor, its successors and assigns and (iii) except to the extent that the rights of any transferor or assignor are limited by the terms of the Credit Agreement, inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Administrative Agent and any of the Holders of Secured Obligations. Nothing set forth herein or in any other Loan Document is intended or shall be construed to give any other Person any right, remedy or claim under, to or in respect of this Agreement or any other Loan Document or any Collateral. Grantor's successors and assigns shall include, without limitation, a receiver, trustee or debtor-in-possession thereof or therefor.
Continuing Security Interest; Termination. (a) This Escrow Agreement shall create a continuing security interest in and to the Collateral and shall, unless otherwise provided in this Escrow Agreement, remain in full force and effect until the payment in full in cash of the Obligations. This Escrow Agreement shall be binding upon the Issuer, its transferees, successors and assigns, and shall inure, together with the rights and remedies of the Escrow Agent hereunder, to the benefit of the Escrow Agent, the Holders of the Preferred Securities and their respective successors, transferees and assigns.
Continuing Security Interest; Termination. This Agreement shall create a continuing security interest in the Pledged Collateral and shall apply to all past, present and future Secured Obligations, including Secured Obligations that arise under transactions that continue any Secured Obligation, increase or decrease any Secured Obligation, or from time to time create new Secured Obligations after all or any prior Secured Obligations have been satisfied. This Agreement and the security interest shall terminate when all of the Obligations (as defined in the Credit Agreement) shall have been paid in full (other than contingent indemnification obligations) in accordance with the terms of the Credit Agreement, the Aggregate Commitments have been terminated and all Letters of Credit that remain outstanding have been Cash Collateralized or with respect to which other arrangements satisfactory to the L/C Issuer have been made; provided, however, that the obligations of the Debtors under Sections 11(f) and 14 shall survive such termination. In addition, (x) in the event that any Subsidiary ceases to be a Subsidiary of a Debtor (including another Debtor) as a result of a transaction permitted by the Credit Agreement, then such Subsidiary shall automatically be fully and finally released from its obligations hereunder without any further action of the Administrative Agent, the Lenders, or the L/C Issuer, and (y) the security interest and Liens granted herein shall be deemed to be released automatically without any further action of the Administrative Agent, the Lenders, or the L/C Issuer as to any Pledged Collateral upon the sale, transfer or other disposition of such Pledged Collateral to a Person that is not a Debtor pursuant to a Disposition permitted by the Credit Agreement or any other Loan Document, and in each instance, the Administrative Agent shall promptly upon written request from (and at the expense of) the Borrower take all necessary action to document the full and final release of such Debtor or Pledged Collateral, as applicable, under this Agreement.
Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in the Collateral and shall terminate upon Debtor’s payment in full to the Secured Party of the Payment Obligation. Upon such termination, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens on, and the security interest in, the Collateral.
