Continuing and Independent Security. This Charge shall constitute and be continuing security which shall not be released or discharged by any intermediate payment or settlement of all or any of the Secured Obligations, shall continue in full force and effect until the end of the Security Period and is in addition to and independent of, and shall not prejudice or merge with, any other security (or any right of set-off) which the Secured Party may hold at any time for the Secured Obligations or any of them.
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Samples: Consolidated Water Co LTD, Consolidated Water Co LTD, Consolidated Water Co LTD
Continuing and Independent Security. This Charge shall constitute and be continuing security which shall not be released or discharged by any intermediate payment or settlement of all or any of the Secured Obligations, shall continue in full force and effect until the end of the Security Period and is in addition to and independent of, and shall not prejudice or merge with, any other security (or any right of set-off) which the Secured Party Delegate Collateral Agent may hold have at any time for the Secured Obligations or any of them.
Appears in 2 contracts
Samples: Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.)
Continuing and Independent Security. This Charge shall constitute and be continuing security which shall not be released or discharged by any intermediate payment or settlement of any but not all or any of the Secured Obligations, shall continue in full force and effect until the end of the Security Period and is in addition to and independent of, and shall not prejudice or merge with, any other security (or any right of set-off) which the Secured Party Trustee may hold at any time for the Secured Obligations or any of them.
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