Common use of Continuing Security Agreement Clause in Contracts

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 of the Code, no action taken or omission to act by Secured Party hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof or any other action taken or inaction --------------- pursuant to Section 6.02 hereof, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect until Secured Party shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(b) hereof. ---------------

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 9.505 of the Code, no action taken or omission to act by Secured Party hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.9 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.2, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and and, subject to Section 6.3, the Obligations shall remain in full force and effect effect, until Secured Party shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (c) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section Sections 9-505 620, 9-621 and 9-624 of the Code, no action taken or omission to act by Secured Party hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.08 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.02, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect effect, until Secured Party shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 9.505 of the Code, no action taken or omission to act by Secured Party or the other Guaranteed Parties hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.6 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.2, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect effect, until Secured Party shall have applied payments (including, without limitation, of collections from Collateral) towards Collateral toward the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 9.505 of the Code, no action taken or omission to act by Secured Party or the Noteholders hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.08 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.02, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect effect, until Secured Party and the Noteholders shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly otherwise provided by applicable pursuant to law (including, without limitation, Section 9-505 9.620 of the Code), no action taken or omission to act by Secured Party Collateral Trustee hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 6.06 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.02, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Secured Obligations or otherwise to be in full satisfaction of the Secured Obligations, and the Secured Obligations shall remain in full force and effect effect, until Secured Party Collateral Trustee shall have applied payments (including, without limitation, collections from Collateral) towards the Secured Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 of the Code, no action taken or omission to act by the Collateral Agent or the Secured Party Parties hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.07 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.02, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect effect, until the Collateral Agent and the Secured Party Parties shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.

Continuing Security Agreement. (a) Except as may be expressly applicable pursuant to Section 9-505 9.505 of the Code, no action taken or omission to act by Secured Party or the Lenders hereunder, including, without limitation, any exercise of voting or consensual rights pursuant to Section 6.06(d) hereof 4.07 or any other action taken or inaction --------------- pursuant to Section 6.02 hereof6.02, shall be deemed to constitute a retention of ------------ the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect effect, until Secured Party and the Lenders shall have applied payments (including, without limitation, collections from Collateral) towards the Obligations in the full amount then outstanding or until such subsequent time as is hereinafter provided in Section 7.06(bsubsection (b) hereof. ---------------below.