Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Secured Obligations, (b) be binding upon each Grantor, 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 2.06 of the Indenture, any Holder may assign or otherwise transfer any Notes held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantors. Upon any such termination Secured Party will, at Grantors' expense, execute and deliver to Grantors such documents as Grantors shall reasonably request to evidence such termination.
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Samples: Copyright Security Agreement (Zilog Inc), Subsidiary Security Agreement (Zilog Inc)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each GrantorDebtor, its successors and assignsassigns (except to the extent otherwise provided in the Indenture), and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c)foregoing, but subject to the provisions of subsection 2.06 terms of the Indenture, any Holder may assign or otherwise transfer any Notes Note held by it to any other PersonPerson to the extent permitted under the Indenture, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders herein or otherwisethe Holders. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and all rights to the Collateral granted hereunder shall revert to GrantorsDebtors. Upon any such termination the Secured Party willshall, at Grantors' Debtors’ expense, execute and deliver to Grantors Debtors such documents as Grantors Debtors shall reasonably request to evidence such termination.
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Samples: Pledge and Security Agreement (Peninsula Gaming, LLC)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the Secured Obligations, (b) be binding upon each the Grantor, its successors and assigns, assigns and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and its respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 2.06 of the Indenture, any Holder Secured Party may assign or otherwise transfer any the Notes held by it to any other Personperson or entity, and such other Person person or entity shall thereupon become vested with all of the benefits in respect thereof granted to Holders the Secured Party herein or otherwise. Upon the payment in full of all Secured the Obligations, the security interest granted hereby shall terminate terminate, and all rights to the Collateral shall revert to Grantorsthe Grantor. Upon any such termination termination, the Secured Party will, at Grantors' the Grantor's expense, execute and deliver to Grantors the Grantor such documents as Grantors shall the Grantor reasonably request requests to evidence such termination.
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Samples: Security Agreement (National Manufacturing Technologies)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (ai) remain in full force and effect until the payment in full of the Secured Obligations, (bii) be binding upon each the Grantor, its successors and assigns, assigns and (ciii) inure, together with the rights and remedies of Secured Party hereunder, inure to the benefit of Secured Party and its respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (ciii), but subject to the provisions of subsection 2.06 of the Indenture, any Holder SecuredParty may assign or otherwise transfer the Note (or any Notes held by it interest thereunder) to any other Personperson or entity, and such other Person suchother persons or entity shall thereupon become vested with all the benefits in respect thereof granted to Holders Secured Party herein or otherwise. Upon the payment in full of all Secured the Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Grantorsthe Grantor. Upon any such termination termination, Secured Party will, at Grantors' the Grantor's expense, execute and deliver to Grantors the Grantor such documents as Grantors the Grantor shall reasonably request to evidence such termination.
Appears in 1 contract
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each GrantorDebtor, its successors and assignsassigns (except to the extent otherwise provided in the Indenture), 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)foregoing, but subject to the provisions of subsection 2.06 terms of the Indenture, any Holder may assign or otherwise transfer any Notes Note held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral granted hereunder shall revert to GrantorsDebtors. Upon any such termination Secured Party willshall, at GrantorsDebtors' expenseexpense and upon documents provided by it, execute and deliver to Grantors Debtors such documents as Grantors Debtors shall reasonably request to evidence such termination.
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Samples: Pledge and Security Agreement (Majestic Investor Capital Corp)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each GrantorDebtor, its successors and assignsassigns (except to the extent otherwise provided in the Indenture), and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c)foregoing, but subject to the provisions of subsection 2.06 terms of the Indenture, any Holder may assign or otherwise transfer any Notes Note held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral granted hereunder shall revert to GrantorsDebtors. Upon any such termination the Secured Party willshall, at GrantorsDebtors' expense, execute and deliver to Grantors Debtors such documents as Grantors Debtors shall reasonably request to evidence such termination.
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Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (ai) remain in full force and effect until the payment in full Discharge of the Secured Priority Lien Obligations, (bii) be binding upon each Grantorthe Pledgor, its successors and assigns, and (ciii) inure, together with the rights and remedies of Secured Party the Collateral Trustee hereunder, to the benefit of the Collateral Trustee and each other Priority Lien Secured Party and its each of their respective successors, permitted transferees and permitted assigns; no other persons (including, without limitation, any other creditor of the Pledgor) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (c), but iii) and subject to the provisions of subsection 2.06 of the Indentureapplicable Priority Lien Documents, any Holder Priority Lien Secured Party may assign or otherwise transfer any Notes indebtedness held by it secured by this Agreement to any other Personperson or entity, and such other Person person or entity shall thereupon become vested with all the benefits in respect thereof granted to Holders such Priority Lien Secured Party herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights subject, however, to the Collateral shall revert to Grantors. Upon any such termination Secured Party will, at Grantors' expense, execute and deliver to Grantors such documents as Grantors shall reasonably request to evidence such terminationprovisions of the applicable Priority Lien Documents.
Appears in 1 contract
Samples: Priority Lien Security Agreement (United Air Lines Inc)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each GrantorDebtor, its successors and assignsassigns (except to the extent otherwise provided in the Indenture), 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)foregoing, but subject to the provisions of subsection 2.06 terms of the Indenture, any Holder may assign or otherwise transfer any Notes Note held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral granted hereunder shall revert to GrantorsDebtors. Upon any such termination Secured Party willshall, at GrantorsDebtors' expense, execute and deliver to Grantors Debtors such documents as Grantors Debtors shall reasonably request to evidence such termination.
Appears in 1 contract
Samples: Pledge and Security Agreement (Majestic Investor Capital Corp)
Continuing Security Interest; Transfer of Notes. This ----------------------------------------------- Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations, (b) be binding upon each Grantor, 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 2.06 of the Indenture, ) any Holder may assign or otherwise transfer any Notes held by it to any other PersonPerson in accordance with the Note Purchase Agreement, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders Secured Party herein or otherwise. Upon the indefeasible payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to GrantorsGrantor. Upon any such termination Secured Party will, at Grantors' Grantor's expense, execute and deliver to Grantors Grantor such documents as Grantors Grantor shall reasonably request to evidence such termination.
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Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of the all Secured Obligations, (b) be binding upon each Grantor, its successors and assigns, and (c) inure, together with the rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and its successors, transferees and assigns, for the benefit and on behalf of the Holders. Without limiting the generality of the foregoing clause (c), but subject to the provisions of subsection 2.06 of the Indentureforegoing, any Holder Secured Party may assign or otherwise transfer any Notes Secured Obligations held by it to any other PersonPerson subject to and in compliance with the terms of the Indenture, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders the Secured Party herein or otherwise. Upon the payment in full of all Secured Obligations, the security interest granted hereby shall terminate hereunder and of record and all rights to the Collateral shall revert to Grantors. Upon any such termination the Secured Party willshall, at Grantors' expense, execute and deliver to Grantors such documents as Grantors shall reasonably request to evidence such termination.
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Samples: Pledge and Security Agreement (Atlantic Coast Entertainment Holdings Inc)
Continuing Security Interest; Transfer of Notes. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the indefeasible payment in full of the Secured Obligations, (b) be binding upon each Grantor, 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 CLAUSE (c), but subject to the provisions of subsection 2.06 of the Indenture, any Holder may assign or otherwise transfer any Notes held by it to any other PersonPerson in accordance with the Note Purchase Agreement, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Holders Secured Party herein or otherwise. Upon the indefeasible payment in full of all Secured Obligations, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to GrantorsGrantor. Upon any such termination Secured Party will, at Grantors' Grantor's expense, execute and deliver to Grantors Grantor such documents as Grantors Grantor shall reasonably request to evidence such termination.
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