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

Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations and (ii) the Termination Date, (b) be binding upon Borrower, its successors and assigns and (c) inure, together with the rights and remedies of the Lender hereunder, to the benefit of the Lender and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitment, the advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lender herein or otherwise.

Appears in 1 contract

Samples: Security and Pledge Agreement (Verity Corp.)

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Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest later of (i) the payment in full in cash of the Secured Obligations and (ii) the Termination Datetermination of the Credit Agreement, (b) be binding upon Borrowereach Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Lender Agent hereunder, to the benefit of the Lender Banks and its their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), Lender any Bank may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitment, the advances Loan owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lender such Bank herein or otherwise, in each case as provided in Section 17 of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Allbritton Communications Co)

Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations and (ii) the Termination Date, (b) be binding upon BorrowerGrantor, its successors and assigns and (c) inure, together with the rights and remedies of the Lender hereunder, to the benefit of the Lender and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitment, the advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lender herein or otherwise.

Appears in 1 contract

Samples: Verity Corp. Security Agreement Verity Farms (Verity Corp.)

Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations and (ii) the Termination Date, (b) be binding upon Borrowereach Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Lender hereunder, to the benefit of the Lender and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitment, the advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lender herein or otherwise.

Appears in 1 contract

Samples: Subsidiary Security Agreement (Verity Corp.)

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Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations and (ii) the Termination DateObligations, (b) be binding upon Borrowereach Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Lender Collateral Agent hereunder, to the benefit of the Lender Collateral Agent, the Secured Parties and its their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitment, the advances Term Advances owing to it and the Term Note or Notes, Term Notes (if any, ) held by it) it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Icg Communications Inc /De/)

Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the indefeasible payment in full in cash of the Secured Obligations and (ii) the Termination DateObligations, (b) be binding upon Borrowereach Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Lender Administrative Agent hereunder, to the benefit of the Administrative Agent, the Lender Parties and its their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its commitmentCommitment, the advances Advances owing to it and the Note or Notes, if any, Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise., in each case as provided in Section 11.7

Appears in 1 contract

Samples: Security Agreement (Inphynet South Broward Inc)

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