Common use of Continuing Security Interest: Assignments under Credit Agreement Clause in Contracts

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the later of (i) the payment in full of the Obligations and all other amounts payable under this Agreement and (ii) the expiration or termination of the Commitment, (b) be binding upon the Pledgor, its successors and assigns, and (c) inure to the benefit of, and be enforceable by, the Bank and its successors, transferees and assigns. Upon the later of the payment in full of the Obligations and all other amounts payable under this Agreement and the expiration or termination of the Commitment, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Pledgor. Upon any such termination, the Bank will, at the Borrowers' expense, return to the Pledgor such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination.

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the later of (i) Term Commitment has terminated and the payment Secured Obligations have been paid in full of the Obligations and all other amounts payable under this Agreement and (ii) the expiration or termination of the Commitmentfull, (b) be binding upon the Pledgor, Borrower and its successors and assigns, assigns and (c) inure inure, together with the rights and remedies of the Bank hereunder, to the benefit of, and be enforceable by, of the Bank and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), the Bank may assign or otherwise transfer any or all of its rights and obligations under the Credit Agreement to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to the Bank herein or otherwise. Upon the later termination of the Term Commitment and the payment in full of the Obligations and all other amounts payable under this Agreement and the expiration or termination of the CommitmentSecured Obligations, the security interest granted hereby shall terminate terminate, and all rights to the Collateral shall revert to the PledgorBorrower. Upon any such termination, the Bank will, at the Borrowers' expense, return to the Pledgor such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and will execute and deliver to the Pledgor Borrower, at its expense, such documents as the Pledgor shall Borrower may reasonably request to evidence such termination.

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a1) remain in full force and effect until the later of (i) the payment in full of the Obligations and all other amounts payable under this Agreement and Agreement; (ii) the expiration or termination of the Commitment, (b2) be binding upon the PledgorGrantor, its successors and assigns, ; and (c3) inure to the benefit of, and be enforceable by, the Bank and its successors, transferees transferees, and assigns. Without limiting the generality of the foregoing clause (3), the Bank may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement to any other person or entity, and such other person or entity shall thereupon become vested with all the benefits in respect thereof granted to the Bank herein or otherwise. Upon the later of the payment in full of the Obligations and all other amounts payable under this Agreement and the expiration or termination of the CommitmentAgreement, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the PledgorGrantor. Upon any such termination, the Bank will, at the Borrowers' Grantor's expense, return to the Pledgor such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Pledgor Grantor such documents as the Pledgor Grantor shall reasonably request to evidence such termination.

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a1) remain in full force and effect until the later of (i) the payment in full of the Obligations and all other amounts payable under this Agreement and Agreement; (ii) the expiration or termination of the Commitment, (b2) be binding upon the PledgorBorrower, its successors and assigns, ; and (c3) inure to the benefit of, and be enforceable by, the Bank and its successors, transferees transferees, and assigns. Without limiting the generality of the foregoing clause (3), the Bank may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement to any other person or entity, and such other person or entity shall thereupon become vested with all the benefits in respect thereof granted to the Bank herein or otherwise. Upon the later of the payment in full of the Obligations and all other amounts payable under this Agreement and the expiration or termination of the CommitmentAgreement, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the PledgorBorrower. Upon any such termination, the Bank will, at the Borrowers' Borrower's expense, return to the Pledgor such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Pledgor Borrower such documents as the Pledgor Borrower shall reasonably request to evidence such termination.