Common use of CONTINUING SECURITY INTEREST; TRANSFER OF LOANS Clause in Contracts

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to Pledgor. Upon any such termination Secured 486 Party will, at Pledgor's expense, execute and deliver to Pledgor such documents as Pledgor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all the Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and Commitments, the cancellation or expiration of all outstanding Letters of Credit Credit, and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon PledgorGrantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to PledgorGrantor. Upon any such termination Secured 486 (Credit Agreement) 301 Party will, at PledgorGrantor's expense, execute and deliver to Pledgor Grantor such documents as Pledgor Grantor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereoftermination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain 507 in full force and effect until (i) the indefeasible payment in full of all the Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon PledgorGrantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to PledgorGrantor. Upon any such termination Secured 486 Party will, at PledgorGrantor's expense, execute and deliver to Pledgor Grantor such documents as Pledgor Grantor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereoftermination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and Commitments, the cancellation or expiration of all outstanding Letters of Credit Credit, and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to Pledgor. Upon any such termination Secured 486 Party will, at Pledgor's expense, execute and deliver to Pledgor such documents as Pledgor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents indemnification obligations that survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments Revolving Commitment and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration (or cancellation backstop or cash collateralization of all Interest Rate Agreementsoutstanding Letters of Credit in amounts and on terms reasonably acceptable to Issuing Bank), or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party the Collateral Agent hereunder, to the benefit of Secured Party the Collateral Agent and its their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c)foregoing, but subject to the provisions of subsection 11.1 terms of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents indemnification obligations that survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, Revolving Commitment and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration (or cancellation backstop or cash collateralization of all Interest Rate Agreements, or (ii) the release outstanding Letters of the Liens Credit in amounts and on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreementreasonably acceptable to Issuing Bank), the security interest granted hereby shall automatically terminate hereunder and of record and all rights to the Pledged Collateral shall revert to Pledgor. Upon any such termination Secured 486 Party willthe Collateral Agent shall, at Pledgor's ’s expense, execute and deliver to Pledgor such documents as Pledgor shall reasonably request to evidence such termination termination. Upon any disposition of property permitted by this Agreement or the Credit Agreement, the Liens granted herein shall be deemed to be released with no further action on the part of any Person. The Collateral Agent shall, at the Pledgor’s expense, execute and deliver such documents as Pledgor shall be entitled reasonably request to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of evidence such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereofrelease. ARTICLE X STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all the Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon PledgorGrantor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation 382 of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate AgreementsAgreement, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to PledgorGrantor. Upon any such termination Secured 486 Party will, at PledgorGrantor's expense, execute and deliver to Pledgor Grantor such documents as Pledgor Grantor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereoftermination.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, (b) be binding upon Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit Agreement, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to Pledgor. Upon any such termination Secured 486 Party will, at Pledgor's expense, execute and deliver to Pledgor such documents as Pledgor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof.

CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. This Agreement shall create a continuing security interest in the Pledged Collateral and shall (a) remain in full force and effect until (i) the indefeasible payment in full of all the Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Collateral Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit AgreementCredit, (b) be binding upon Pledgor, its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 11.1 of the Credit Agreement, any Lender may assign or otherwise transfer any Loans held by any of them it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise and any Interest Rate Exchanger may assign or otherwise transfer any Interest Rate Obligations owing to it to another Lender or an Affiliate of such Lender or another Lender, and such other Lender or Affiliate shall thereupon become vested with all the benefits in respect thereof granted to such Interest Rate Exchanger herein or otherwise. Upon (i) the indefeasible payment in full of all Secured Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the provisions of the Credit Agreement, Interest Rate Agreements, Letters of Credit or the Loan Collateral Documents survive the termination of the Credit Agreement, the repayment of the Secured Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), the cancellation or termination of the Commitments, Commitments and the cancellation or expiration of all outstanding Letters of Credit and the termination, expiration or cancellation of all Interest Rate Agreements, or (ii) the release of the Liens on the Pledged Collateral by Secured Party in writing in accordance with the terms of subsection 6.11 of the Credit AgreementCredit, the security interest granted hereby shall terminate and all rights to the Pledged Collateral shall revert to Pledgor. Upon any such (Credit Agreement) 266 termination Secured 486 Party willshall, at Pledgor's expense, execute and deliver to Pledgor such documents as Pledgor shall reasonably request to evidence such termination and Pledgor shall be entitled to the return, upon its request and at its expense, against receipt and without recourse to Secured Party, of such of the Pledged Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof.