Common use of Preservation of Security Clause in Contracts

Preservation of Security. 2.1 The security constituted by this Charge shall be continuing and not satisfied by an intermediate payment or satisfaction of the whole or any part of the Secured Obligations but shall secure the ultimate balance of the Secured Obligations. The security hereby given shall be in addition to any other Lien now or hereafter held by the Collateral Agent for all or any of the Secured Obligations, and the Collateral Agent’s rights under this Charge shall not be postponed, lessened or otherwise prejudicially affected or merged in any other such security.

Preservation of Security. 2.1 The security constituted by this Charge shall be continuing and not satisfied by an intermediate payment or satisfaction of the whole or any part of the Secured Obligations but shall secure the ultimate balance of the Secured Obligations. The security hereby given shall be in addition to any other Lien now or hereafter held by the Collateral Agent for all or any of the Secured Obligations, and the Collateral Agent’s 's rights under this Charge shall not be postponed, lessened or otherwise prejudicially affected or merged in any other such security.

Preservation of Security. 2.1 (a) The security constituted by this Charge shall be continuing and not satisfied by an intermediate payment or satisfaction of the whole or any part of the Secured Obligations but shall secure the ultimate balance of the Secured Obligations. The security hereby given shall be in addition to any other Lien now or hereafter held by the Collateral Agent Secured Party for all or any of the Secured Obligations, and the Collateral Agent’s Secured Party's rights under this Charge shall not be postponed, lessened or otherwise prejudicially affected or merged in any other such security.