Continuing Security. This Security is a continuing security and will extend to the ultimate balance of the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.
Continuing Security. (1) The security hereby created shall continue and be a continuing security notwithstanding any settlement of account or reduction or repayment of the whole or part of the moneys hereinbefore covenanted to be paid or hereby secured or with which the Assigned Property stands charged or any other matter or thing whatsoever and shall be in addition to, and shall not be merged with, or in any way be prejudiced or affected by any collateral or other security which the Mortgagee may now or hereafter hold or judgment or order obtained by the Mortgagee in respect of the whole or part of the moneys hereinbefore covenanted to be paid or hereby secured or with which the Assigned Property stands charged nor shall any such collateral or other security judgement or order or any lien to which the Mortgagee may be otherwise entitled or the liability of the Mortgagor or any others not parties hereto be in any way prejudiced or affected by this Assignment.
(2) The security created by this Assignment shall not be discharged or affected by (i) any time indulgence waiver or consent at any time given to the Mortgagor or any other person, (ii) any amendment to this Assignment or any other security guarantee indemnity or agreement, (iii) the making or absence of any demand on the Mortgagor or any other person for payment, (iv) the enforcement or absence of enforcement of this Assignment or any other security guarantee indemnity or agreement, (v) the taking, existence or release of the mortgage or any other security guarantee indemnity or any liabilities or obligations under any agreement, (vi) the winding-up amalgamation reconstruction or reorganisation of the Mortgagor or any other person (or the commencement of any of the foregoing), (vii) the death insanity or bankruptcy of the Mortgagor, the Purchaser or any other person; (viii) the illegality invalidity or unenforceability of or any defect in any provision of this Assignment or any other security guarantee indemnity or agreement or any of the obligations of any of the parties thereunder, or (ix) any other matter or thing whatsoever.
(3) In the event of the commencement of the winding up of the Mortgagor or of this Assignment ceasing for any reason to be binding on the Mortgagor or if the Mortgagee shall at any time receive notice (either actual or otherwise), of any subsequent mortgage, charge, assignment, hypothecation, pledge, lien or other like interest, matter, event or transaction affecting the Assigned Property or any ...
Continuing Security. It is agreed that the security created by this Deed and the obligations and liabilities of the Shareholder and rights, remedies and powers of the Pledgee hereunder:
9.1.1 shall be held by the Pledgee as a continuing security for the payment of the Outstanding Indebtedness and the performance and observance of and compliance with all of the covenants, terms and conditions contained in the Security Documents, express or implied;
9.1.2 shall be in addition to and shall not prejudice or affect and may be enforced by the Pledgee without prior recourse to, the security created by any other of the Security Documents or by any present or future Collateral Instruments right or remedy held by or available to the Pledgee or the Secured Creditors or any of them or any right or remedy of the Pledgee or the Secured Creditors or any of them thereunder;
9.1.3 may be enforced by the Pledgee without prior recourse to any such security or guarantee as is referred to in clause 9.1.2 and the Shareholder waives all rights it may have of first requiring the Pledgee or the Secured Creditors or any of them to enforce any such security or guarantee or to proceed against or claim payment from the Corporation or any other person;
9.1.4 shall not be satisfied by any intermediate payment or satisfaction of any part of the Outstanding Indebtedness or by any settlement of accounts between the Corporation, the Shareholder or any other person who may be liable to the Pledgee or the Secured Creditors or any of them in respect of the Outstanding Indebtedness or any part thereof and the Pledgee or the Secured Creditors or any of them;
9.1.5 shall not in any way be prejudiced or affected by any time, indulgence or relief being given by the Pledgee or the Secured Creditors or any of them to the Corporation or any other person, by any amendment or supplement to the Loan Agreement, any of the other Security Documents or any other document, by the taking, variation, compromise, renewal or release of, or refusal or neglect to perfect or enforce, any right, remedy or security against the Corporation or any other person or by anything done or omitted which but for this provision might operate to exonerate the Shareholder; and
9.1.6 shall not in any way be prejudiced or affected by any change in the constitution of, or any amalgamation or reconstruction of the Corporation, the Pledgee or any other person or by any legal limitation, disability, incapacity or other circumstances relating to the Corporat...
Continuing Security. The security constituted by the Security Documents shall be continuing and shall not be satisfied by any intermediate payment or satisfaction until the Indebtedness shall have been repaid in full and none of the Finance Parties shall be under any further actual or contingent liability to any third party in relation to the Vessels, the Insurances, Earnings or Requisition Compensation or any other matter referred to in the Security Documents.
Continuing Security. The security created by this Agreement and each of the other Security Documents shall be held by the Trustee and/or the Agent and/or the Lenders and/or the Hermes Agent as a continuing security for the repayment of the Outstanding Indebtedness and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the amount hereby or thereby secured or by any amendment of this Agreement or any of the other Security Documents. Such security shall be in addition to and shall not in any way be prejudiced or affected by any collateral or other security now or hereafter held by the Trustee, the Agent, the Lenders, the Hermes Agent or any of them for all or any part of the amount hereby or thereby secured or any other right or remedy of the Trustee, the Agent, the Lenders or the Hermes Agent or any of them under this Agreement or any of the other Security Documents, by operation of law or otherwise howsoever arising. All the powers arising from such security may be exercised from time to time as the Trustee and/or the Agent and/or the Hermes Agent may deem expedient.
Continuing Security. Each item or part of the Security shall for all purposes be treated as a separate and continuing collateral security and shall be deemed to have been given in addition to and not in place of any other item or part of the Security or any other security now held or hereafter acquired by the Agent or the Lenders. No item or part of the Security shall be merged or be deemed to have been merged in or by this Agreement or any documents, instruments or acknowledgements delivered hereunder, or any simple contract debt or any judgment, and any realization of or steps taken under or pursuant to any security, instrument or agreement shall be independent of and not create a merger with any other right available to the Lenders or the Agent under any security, instruments or agreements held by it or at law or in equity.
Continuing Security. Each Security Interest under this Agreement and any Collateral Document continues to apply even if payments are made during the Term.
Continuing Security. It is declared and agreed that the security created by this Assignment shall be held by the Assignee as a continuing security for the payment of all moneys which may at any time and from time to time be or become payable by the Assignor under the Credit Agreement and that the security so created shall not be satisfied by an intermediate payment or satisfaction of any part of the amount hereby secured and that the security so created shall be in addition to and shall not in any way be prejudiced or affected by any collateral or other security now or hereafter held by the Assignee for all or any part of the moneys hereby secured.
Continuing Security. This Agreement shall create a continuing security which means that no change or amendment whatsoever in any Finance Document or in any document or agreement related thereto shall affect the validity of this Agreement.
Continuing Security. The security constituted by this Deed is continuing and will extend to the ultimate balance of all the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.
