Common use of Continuation of Security Interest Clause in Contracts

Continuation of Security Interest. This is a continuing agreement and the grant of the security interest and Lien hereunder or any other Loan Document shall remain in full force and effect and all of Our rights, powers and remedies shall continue to exist until the Payment in Full of all Secured Obligations. We shall file a termination statement or discharge document, as applicable, and provide proof of filing to You promptly (and in any event within five (5) Business Days) after the Payment in Full of the Secured Obligations, reassigning to You, without recourse except for Our acts, the Collateral and all rights conveyed hereby and returning possession of the Collateral to You. Our rights, powers and remedies shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein or in any other Loan Document shall not be construed as a waiver of or election of remedies with respect to any of Our other rights, powers and remedies.

Continuation of Security Interest. This is a continuing agreement and the grant of the security interest and Lien a lien hereunder or any other Loan Document shall remain in full force and effect and all of Our rights, powers and remedies shall continue to exist until all the Payment principal, interest, fees, costs or other amounts owed by You to Us are fully and finally paid in Full of all Secured Obligationscash and until We have executed a written termination statement. We shall file a termination statement or discharge document, as applicable, and provide proof of filing to You promptly within thirty (and in any event within five (530) Business Days) days after the Payment full and final payment in Full Cash of all the Secured Obligationsprincipal and interest owed by You to Us hereunder, reassigning to You, without recourse except for Our acts, the Collateral and all rights conveyed hereby and returning possession of the Collateral to You. Our rights, powers and remedies shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein or in any other Loan Document shall not be construed as a waiver of or election of remedies with respect to any of Our other rights, powers and remedies.