Collateral Purpose. (a) The security interests created under this Agreement serve to secure the Secured Obligations. (b) In addition, the Pledges and any assignment created by this Agreement are made as continuing security in order to secure the prompt, full and final discharge of all Secured Obligations. The Pledges and any assignment contained in this Agreement shall also cover any future extension, prolongation or increase of the Secured Obligations. The Issuer hereby expressly agrees that the provisions of section 1210 paragraph 1 sentence 2 of the BGB shall not apply to this Agreement. The Issuer hereby expressly declares its consent to any assumption (Schuldübernahme) of any of the Secured Obligations by any third party debtor pursuant to section 418 paragraph 1 sentence 3 of the BGB.
Appears in 5 contracts
Samples: Collateral Trust Agreement, Collateral Trust Agreement, Collateral Trust Agreement
