Common use of Continuing Security Interest; Further Actions Clause in Contracts

Continuing Security Interest; Further Actions. This Agreement shall create a continuing priority lien and security interest in the Collateral and shall: (i) subject to Section 16 hereof, remain in full force and effect until payment and performance in full of the Secured Obligations; (ii) be binding upon the Debtor and its respective successors and assigns, and (iii) inure to the benefit of the Secured Party and its respective successors, transferees and assigns; provided that a Debtor may not assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Security Agreement (DPW Holdings, Inc.)

Continuing Security Interest; Further Actions. This Pledge Agreement shall create a continuing first priority lien and security interest in the Collateral and shall: shall (ia) subject to Section 16 hereof18, remain in full force and effect until payment and performance in full of the Secured Obligations; , (iib) be binding upon the Debtor and Pledgor, its respective successors and assigns, and (iiic) inure to the benefit of the Secured Party and its respective successors, transferees and assigns; provided that a Debtor the Pledgor may not assign or otherwise transfer any of its rights or obligations under this Pledge Agreement without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Membership Interest Pledge Agreement (Northann Corp.)

Continuing Security Interest; Further Actions. This Agreement shall create a continuing priority lien and security interest in the Collateral and shall: shall (ia) subject to Section 16 hereof18, remain in full force and effect until payment and performance in full of the Secured Obligations; , (iib) be binding upon the Debtor and Pledgor, its respective successors and assigns, and (iiic) inure to the benefit of the Secured Party and its respective successors, transferees and assigns; provided that a Debtor neither the Pledgor nor the Secured Party may not assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the Secured Partyother party.

Appears in 1 contract

Sources: Stock Pledge Agreement (Timios National Corp)

Continuing Security Interest; Further Actions. This Agreement shall create a continuing priority lien and security interest in the Collateral and shall: shall (ia) subject to Section 16 hereof, remain in full force and effect until payment and performance in full of the Borrower's current or future obligations to Secured Obligations; Party, (iib) be binding upon the Debtor and Borrower, its respective successors and assigns, and (iiic) inure to the benefit of the Secured Party and its respective successors, transferees and assigns; provided that a Debtor the Borrower may not assign or otherwise transfer any of its rights or obligations under this Agreement or the Related Documents without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Stock Pledge and Security Agreement (Ames National Corp)

Continuing Security Interest; Further Actions. This Agreement shall create a continuing first priority lien and security interest in the Collateral and shall: shall (ia) subject to Section 16 hereof815, remain in full force and effect until payment and performance in full of the Secured Obligations; , (iib) be binding upon the Debtor and each Pledgor, his or its respective successors and assigns, and (iiic) inure to the benefit of the Secured Party and its respective successors, transferees transferees, and assigns; provided that a Debtor no Pledgor may not assign or otherwise transfer any of his or its rights or obligations under this Agreement without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Stock and Membership Interests Pledge Agreement (JanOne Inc.)