Common use of Continuing Rights and Obligations Clause in Contracts

Continuing Rights and Obligations. Agent’s and Letter of Credit Issuing Bank’s rights hereunder shall continue unimpaired, and each Letter of Credit Account Party shall be and remain obligated in accordance with the terms and provisions hereof, notwithstanding the release and/or substitution of any property which may be held as Collateral at any time(s), or of any rights or interest therein. No delay, extension of time, renewal, compromise or other indulgence which may occur or be granted by Agent and/or Letter of Credit Issuing Bank shall impair Agent’s and/or Letter of Credit Issuing Bank’s rights or powers hereunder.

Continuing Rights and Obligations. Agent’s 's and Letter of Credit Issuing Bank’s 's rights hereunder shall continue unimpaired, and each Letter of Credit Account Party shall be and remain obligated in accordance with the terms and provisions hereof, notwithstanding the release and/or substitution of any property which may be held as Collateral at any time(s), or of any rights or interest therein. No delay, extension of time, renewal, compromise or other indulgence which may occur or be granted by Agent and/or Letter of Credit Issuing Bank shall impair Agent’s 's and/or Letter of Credit Issuing Bank’s 's rights or powers hereunder.