CONTINUING SECURITY INTEREST; HEIRS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until terminated pursuant to Section 16 below, (b) be binding upon each Pledgor, its successors and assigns and (c) inure to the benefit of the Agent, the Purchasers and their respective successors, transferees and assigns provided, however, that no Pledgor shall be permitted to transfer any of its obligations hereunder except as otherwise permitted by the Securities Purchase Agreement.
Appears in 3 contracts
Samples: Security Agreement (Security Devices International Inc.), Subsidiary Pledge Agreement (Nestor Inc), Securities Purchase Agreement (Nestor Inc)
CONTINUING SECURITY INTEREST; HEIRS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until terminated pursuant to Section 16 below, (b) be binding upon each Pledgor, its successors and assigns and (c) inure to the benefit of the Agent, the Purchasers and their respective successors, transferees and assigns provided, however, that no Pledgor shall be permitted to transfer any of its obligations hereunder except as otherwise permitted by the Securities Purchase AgreementAgreements.
Appears in 1 contract
Samples: Security Agreement (Nestor Inc)
CONTINUING SECURITY INTEREST; HEIRS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and shall (ai) remain in full force and effect until terminated pursuant to Section 16 below, (bii) be binding upon each PledgorGrantor, its successors and assigns and (ciii) inure to the benefit of the Collateral Agent, the Purchasers other Secured Parties and their respective successors, transferees and assigns provided, however, that no Pledgor Grantor shall be permitted to transfer any of its obligations hereunder except as otherwise permitted by the Securities Purchase Agreementhereunder.
Appears in 1 contract
CONTINUING SECURITY INTEREST; HEIRS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until terminated pursuant to Section 16 below, (b) be binding upon each Pledgor, its successors and assigns and (c) inure to the benefit of the AgentTrustee, the Purchasers Holders and their respective successors, transferees and assigns provided, however, that no Pledgor shall be permitted to transfer any of its obligations hereunder except as otherwise permitted by the Securities Purchase AgreementTrust Indenture.
Appears in 1 contract
Samples: Security Agreement (Security Devices International Inc.)
