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, unless expressly released by the Secured Party, shall (a) remain in full force and effect until the indefeasible payment in full in cash of the Secured Obligations (including all Letter of Credit Obligations), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Banks and the Banks in respect of Letters of Credit, the termination of all Interest Rate Contracts and the termination of all obligations of the Banks in respect of Interest Rate Contracts, and the termination or expiration of the Commitments, (b) be binding upon each Grantor and its successors, tranferees and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of and be binding upon, the Secured Party, the Issuing Banks, and the Banks and their respective successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap Counterparties, and each of their respective successors, transferees, and assigns to the extent such successors, transferees, and assigns of a Swap Counterparty is a Bank or an Affiliate of a Bank. 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 such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Secured PartyAdministrative Agent, shall (ai) remain in full force and effect until the indefeasible payment in full in cash of the Secured Obligations (including all Letter of Credit Obligations), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Banks Bank and the Banks Lenders in respect of Letters of Credit, Credit other than if such Letters of Credit are collateralized in the termination of all Interest Rate Contracts and manner permitted by the termination of all obligations of the Banks in respect of Interest Rate ContractsCredit Agreement, and the termination or expiration of the Revolving Commitments, (bii) be binding upon each Grantor and its successors, tranferees transferees and assigns, and (ciii) inure, together with the rights and remedies of the Secured Party Administrative Agent hereunder, to the benefit of and be binding upon, the Secured PartyAdministrative Agent, the Issuing BanksBank, and the Banks Lenders and their respective successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap Counterparties, and each of their respective successors, transferees, and assigns to the extent such successors, transferees, and assigns of a Swap Counterparty is a Bank Lender or an Affiliate of a BankLender. Without limiting the generality of the foregoing clause, when any Bank Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Loan Document to any other Person pursuant to the terms of the Credit Agreement or such other Credit Loan Document, that other Person shall thereupon become vested with all the benefits held by such Bank Lender under this Security Agreement.

Continuing Security Interest; Transfer of Interest. (a) This Security Pledge Agreement shall create a continuing security interest in the Pledged Collateral and, unless expressly released by the Secured PartyAdministrative Agent, shall (ai) remain in full force and effect until the indefeasible payment in full in cash of the Secured Obligations Pledge Termination (including all Letter of Credit Obligationsas defined below), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Banks and the Banks in respect of Letters of Credit, the termination of all Interest Rate Contracts and the termination of all obligations of the Banks in respect of Interest Rate Contracts, and the termination or expiration of the Commitments, (bii) be binding upon each Grantor Pledgor and its successors, tranferees transferees and assigns, and (ciii) inure, together with the rights and remedies of the Secured Party Administrative Agent hereunder, to the benefit of and be binding upon, each Secured Party (other than the Secured Party, the Issuing Banks, Swap Counterparties) and the Banks and their respective each of its successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap CounterpartiesCounterparties and each successor, transferee, and each assign of their respective successors, transferees, and assigns the Swap Counterparties to the extent such successorssuccessor, transfereestransferee, and assigns of a Swap Counterparty assign is a Bank Lender or an Affiliate of a BankLender. Without limiting the generality of the foregoing clause, when any Bank Lender assigns or otherwise transfers any interest held by it under the Credit Agreement or other Credit Loan Document to any other Person pursuant to the terms of the Credit Agreement or such other Credit Loan Document, that other Person shall thereupon become vested with all the benefits held by such Bank Lender under this Security Pledge Agreement. Furthermore, when any Swap Counterparty assigns or otherwise transfers any interest held by it under a Hedge Contract to any other Person pursuant to the terms of such agreement, that other Person shall thereupon become vested with all the benefits held by such Secured Party under this Pledge Agreement only if such Person is also then a Lender or an Affiliate of a Lender.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Secured Party, shall (a) remain in full force and effect until the indefeasible payment in full in cash of the Secured Obligations (including all Letter of Credit Obligations), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Banks and the Banks Lenders in respect of Letters of Credit, the termination of all Interest Rate Contracts Lender Hedging Agreements and the termination of all obligations of the Banks Swap Counterparties in respect of Interest Rate Contractsthe Lender Hedging Agreements, and the termination or expiration of the Commitments, (b) be binding upon each Grantor and its successors, tranferees and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of and be binding upon, the Secured Party, the Issuing Banks, and the Banks Lenders and their respective successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap Counterparties, and each of their respective successors, transferees, and assigns to the extent such successors, transferees, and assigns of a Swap Counterparty is a Bank Lender or an Affiliate of a BankLender. Without limiting the generality of the foregoing clause, when any Bank Lender 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 such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank Lender under this Security Agreement.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Secured Party, shall (a) remain in full force and effect until the indefeasible payment in full in cash of the Secured Obligations (including all Letter of Credit Obligations), the termination or expiration of all Letters of Credit and the termination of all obligations of the Issuing Banks and the Banks in respect of Letters of Credit, the termination of all Interest Rate Contracts and the termination of all obligations of the Banks in respect of Interest Rate Contracts, and the termination or expiration of the Commitments, (b) be binding upon each Grantor and its successors, tranferees and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of and be binding upon, the Secured Party, the Issuing Banks, and the Banks and their respective successors, transferees, and assigns, and to the benefit of and be binding upon, the Swap Counterparties, and each of their respective successors, transferees, and assigns to the extent such successors, transferees, and assigns of a Swap Counterparty is a Bank or an Affiliate of a Bank. 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 such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Bank under this Security Agreement.