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 Administrative Agent, shall (i) remain in full force and effect until the occurrence of Security Termination, (ii) be binding upon each Grantor and its successors, transferees and assigns, and (iii) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of and be binding upon, each Secured Party and each of its successors, transferees, and assigns, to the extent such successor, transferee, and assign is also a Secured Party. 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 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 Lender under this Security 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 Security 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 Administrative Agent, and shall (ia) remain in full force and effect until indefeasible payment in full and termination of the occurrence of Security TerminationSecured Obligations, (iib) be binding upon each Grantor the Debtor, the Secured Party, the Credit Parties and its their respective successors, transferees and assigns, and (iiic) inure, together with the rights and remedies of the Administrative Agent Secured Party hereunder, to the benefit of of, and be binding upon, each the Secured Party Party, the Credit Parties, and each of its their respective successors, transferees, and assigns, to the extent such successor, transferee, and assign is also a Secured Party. Without limiting the generality of the foregoing clause, when any Lender Credit Party 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 Lender Credit Party under this Security Agreement. FurthermoreUpon the indefeasible payment in full and termination of the Secured Obligations, when any Swap Counterparty assigns the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Debtor to the extent such Collateral shall not have been sold or otherwise transfers any interest held by it under a Hedge Contract to any other Person applied pursuant to the terms of hereof. Upon any such agreementtermination, that the Secured Party, at the Debtor's expense, will execute and deliver to the Debtor such UCC statements and other Person documentation as the Debtor shall thereupon become vested with all reasonably request and take any other actions reasonably requested by the benefits held by Debtor to evidence or effect such Secured Party under this Security Agreement only if such Person is also then a Lender or an Affiliate of a Lendertermination.

Continuing Security Interest; Transfer of Interest. This Unless earlier terminated according to Section 4.3 hereof, this Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Administrative Agent, and shall (ia) remain in full force and effect until indefeasible payment in full and termination of the occurrence of Security TerminationSecured Obligations, (iib) be binding upon each Grantor the Debtor, the Collateral Agent, the Term Secured Parties and its their respective successors, transferees and assigns, and (iiic) inure, together with the rights and remedies of the Administrative Collateral Agent hereunder, to the benefit of of, and be binding upon, each the Collateral Agent, the Term Secured Party Parties, and each of its their respective successors, transferees, and assigns, to the extent such successor, transferee, and assign is also a Secured Party. Without limiting the generality of the foregoing clause, when any Lender Term Secured Party assigns or otherwise transfers any interest held by it under the Credit Term Loan Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Term Loan Agreement or such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Lender Term Secured Party under this Security Agreement. FurthermoreUpon the indefeasible payment in full and termination of the Secured Obligations, when any Swap Counterparty assigns the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Debtor to the extent such Collateral shall not have been sold or otherwise transfers any interest held by it under a Hedge Contract to any other Person applied 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 Security Agreement only if such Person is also then a Lender or an Affiliate of a Lenderhereof.

Continuing Security Interest; Transfer of Interest. This Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Administrative Agent, and shall (ia) remain in full force and effect until indefeasible payment in full and termination of the occurrence of Security TerminationSecured Obligations (other than indemnification obligations), (iib) be binding upon each Grantor the Debtor, the Secured Party, the Noteholders and its their respective successors, transferees and assigns, and (iiic) inure, together with the rights and remedies of the Administrative Agent Secured Party hereunder, to the benefit of of, and be binding upon, each the Secured Party Party, the Noteholders, and each of its their respective successors, transferees, and assigns, to the extent such successor, transferee, and assign is also a Secured Party. Without limiting the generality of the foregoing clause, when any Lender Noteholder assigns or otherwise transfers any interest held by it under the Credit Note Purchase Agreement or other Credit Document to any other Person pursuant to the terms of the Credit Note Purchase Agreement or such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Lender Noteholder under this Security Agreement. FurthermoreUpon the indefeasible payment in full and termination of the Secured Obligations, when any Swap Counterparty assigns the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Debtor to the extent such Collateral shall not have been sold or otherwise transfers any interest held by it under a Hedge Contract to any other Person applied 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 Security Agreement only if such Person is also then a Lender or an Affiliate of a Lenderhereof.

Continuing Security Interest; Transfer of Interest. This Unless earlier terminated according to Section 4.3 hereof, this Security Agreement shall create a continuing security interest in the Collateral and, unless expressly released by the Administrative Agent, and shall (ia) remain in full force and effect until indefeasible payment in full and termination of the occurrence of Security TerminationSecured Obligations, (iib) be binding upon each Grantor the Debtor, the Collateral Agent, the Finance Parties and its their respective successors, transferees and assigns, and (iiic) inure, together with the rights and remedies of the Administrative Collateral Agent hereunder, to the benefit of of, and be binding upon, each Secured Party the Collateral Agent, the Finance Parties, and each of its their respective successors, transferees, and assigns, to the extent such successor, transferee, and assign is also a Secured Party. Without limiting the generality of the foregoing clause, when any Lender Secured Party assigns or otherwise transfers any interest held by it under the Revolving Credit Agreement or other Credit Document to any other Person pursuant to the terms of the Revolving Credit Agreement or such other Credit Document, that other Person shall thereupon become vested with all the benefits held by such Lender under this Security 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 Security Agreement only if Agreement. Upon the indefeasible payment in full and termination of the Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Debtor to the extent such Person is also then a Lender Collateral shall not have been sold or an Affiliate of a Lenderotherwise applied pursuant to the terms hereof.