CONTINUING OBLIGATION OF BORROWERS. The terms, conditions, and covenants set forth herein and in the LOAN DOCUMENTS shall survive CLOSING and shall constitute a continuing obligation of each of the BORROWERS during the course of the transactions contemplated herein. The security interests, liens and other security provided by this AGREEMENT shall remain in effect so long as any OBLIGATION, whether direct or contingent, is outstanding, unpaid or unsatisfied.
Appears in 4 contracts
Samples: Loan and Security Agreement (Avatech Solutions Inc), Loan and Security Agreement (Avatech Solutions Inc), Loan and Security Agreement (Gse Systems Inc)
CONTINUING OBLIGATION OF BORROWERS. The terms, conditions, and covenants set forth herein and in the LOAN DOCUMENTS shall survive CLOSING and shall constitute a continuing obligation of each of the BORROWERS during the course of the transactions contemplated herein. The security interests, liens and other security provided by this AGREEMENT shall remain in effect so long as any OBLIGATION, whether direct or contingent, is outstanding, unpaid unpaid, or unsatisfiedunsatisfied or is being challenged or contested.
Appears in 1 contract
CONTINUING OBLIGATION OF BORROWERS. The terms, ---------------------------------- conditions, and covenants set forth herein and in the LOAN DOCUMENTS Loan Documents shall survive CLOSING closing and shall constitute a continuing obligation of each of the BORROWERS Borrowers during the course of the transactions transaction contemplated herein. The security interests, liens obligations of the Borrowers and other security provided by all Collateral granted under this AGREEMENT Agreement shall remain valid and in effect so long as any OBLIGATION, whether direct or contingent, Obligation is outstanding, unpaid or unsatisfiedunsatisfied between the Borrowers and the Lender.
Appears in 1 contract
Samples: Loan Renewal and Security Agreement (Precision Auto Care Inc)
