Common use of Continuing Security Interest; Transfer of Interest Clause in Contracts

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until payment in full and termination of the Secured Obligations, (b) be binding upon the Grantor, its successors, and assigns, and (c) inure, together with the rights and remedies of the Agent hereunder, to the benefit of the Agent, the Banks, and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by the Grantor shall revert to the Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Upon any such termination, the Agent will, at the Grantor's expense, execute and deliver to the Grantor such documents as the Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until payment in full and termination of the Secured Obligations, (b) be binding upon the each Grantor, its successors, and assigns, and (c) inure, together with the rights and remedies of the Agent hereunder, to the benefit of the Agent, the Banks, and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by the any Grantor shall revert to the such Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Upon any such termination, the Agent will, at the each Grantor's expense, execute and deliver to the such Grantor such documents as the such Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Pledge Agreement shall create a continuing security interest in the Pledged Collateral and and, unless expressly released by Secured Party, shall (ai) remain in full force and effect until payment in full and termination of the Secured Obligations, (bii) be binding upon Pledgor, Secured Party, the Grantor, its Lenders and their successors, and assigns, and (ciii) inure, together with the rights and remedies of the Agent Secured Party hereunder, to the benefit of the Agentand be binding upon, Secured Party, the Banks, Lenders and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Pledged Collateral pledged by the Grantor shall revert to the Grantor Pledgor to the extent such Pledged Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Without limiting the generality of the foregoing clause, when any Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Loan Document to any other Person pursuant to the terms of the Credit Agreement or other Loan Document, that other Person shall thereupon become vested with all the benefits held by such Lender under this Pledge Agreement. Upon any such termination, the Agent Secured Party will, at the Grantor's Pledgor’s expense, deliver all Pledged Collateral to Pledgor, execute and deliver to the Grantor Pledgor such documents as the Grantor Pledgor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and shall and, unless expressly released by Secured Party, shall: (ai) remain in full force and effect until payment in full and termination of the Secured Obligations, , (bii) be binding upon the Grantor, its Secured Party, the Lenders and their successors, and assigns, and and (ciii) inure, together with the rights and remedies of the Agent Secured Party, hereunder, to the benefit of the AgentSecured Party, the Banks, Lenders and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by the Grantor shall revert to the Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Without limiting the generality of the foregoing clause, when any Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Loan Document to any other Person pursuant to the terms of the Credit Agreement or other Loan Document, that other Person shall thereupon become vested with all the benefits held by such Lender under this Security Agreement. Upon any such termination, the Agent Secured Party will, at the Grantor's ’s expense, execute and deliver to the Grantor such documents as the Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.

Continuing Security Interest; Transfer of Interest. This Second Security Agreement shall create a continuing security interest in the Collateral and shall and, unless expressly released by Secured Party, shall: (ai) remain in full force and effect until payment in full and termination of the Secured Obligations, , (bii) be binding upon the Grantor, its Secured Party, the Lenders and their successors, and assigns, and and (ciii) inure, together with the rights and remedies of the Agent Secured Party, hereunder, to the benefit of the AgentSecured Party, the Banks, Lenders and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing clause, when any Bank assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Agreement or other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement. Upon the payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral pledged by the Grantor shall revert to the Grantor to the extent such Collateral shall not have been sold or otherwise applied pursuant to the terms hereof. Without limiting the generality of the foregoing clause, when any Lender assigns or otherwise transfers any interest held by it under the Subordinated Credit Agreement or other Subordinated Loan Document to any other Person pursuant to the terms of the Subordinated Credit Agreement or other Subordinated Loan Document, that other Person shall thereupon become vested with all the benefits held by such Lender under this Second Security Agreement. Upon any such termination, the Agent Secured Party will, at the Grantor's expense, execute and deliver to the Grantor such documents as the Grantor shall reasonably request and take any other actions reasonably requested to evidence or effect such termination.