Common use of CONTINUOUS INTEREST Clause in Contracts

CONTINUOUS INTEREST. The Security Interest hereby created is a continuing charge, and shall secure all Indebtedness notwithstanding that the Indebtedness may be fluctuating and even may from time to time and at any time be reduced to a nil balance, and notwithstanding that monies advanced may be repaid and future advances may be made to or to the order of the Debtor or in respect of which the Debtor is liable. The Security Interest maintains priority for all Indebtedness secured hereby whether incurred or arising before or after the creation or registration of any Encumbrance (as hereinafter defined) and notwithstanding that at any time there may not be any Indebtedness then outstanding.

CONTINUOUS INTEREST. The Security Interest hereby created is shall be a continuing charge, and shall secure all Indebtedness continuous charge notwithstanding that the Indebtedness may be fluctuating and even may from time to time time, and at any time time, be reduced to a nil balance, balance and notwithstanding that monies advanced may be repaid and future advances may be made to or to the order of the Debtor or in respect of which the Debtor is liable. The Security Interest maintains obtains priority for all Indebtedness advances and obligations secured hereby whether incurred or arising before or any such advances and obligations are made after the registration or creation or registration of any Encumbrance (as hereinafter defined) and notwithstanding that at any time there may not be any Indebtedness then outstanding.