Common use of Duration and Effect Clause in Contracts

Duration and Effect. This Pledge Agreement shall remain and continue in full force and effect (notwithstanding, without limitation, the death, incompetency or dissolution of the Assignor or the Borrower) from the date hereof until all of the Obligations have been fully and completely paid, satisfied and discharged. Thereupon, this Pledge Agreement shall terminate and the Bank shall release any Collateral still held by it which has not been sold or otherwise disposed of in accordance with Section 6 hereof and applied toward the satisfaction of the Obligations hereunder, and the Bank shall deliver any such Collateral to the Assignor, together with any necessary stock powers or assignment executed by the Bank in blank, at the Assignor's expense. The Assignor acknowledges that this Pledge Agreement is and shall be effective upon execution by the Assignor and delivery to and acceptance hereof by the Bank and it shall not be necessary for the Bank to execute any acceptance hereof or otherwise to signify or express its acceptance hereof to the Assignor.

Duration and Effect. This Pledge Agreement shall remain and --------------------- continue in full force and effect (notwithstanding, without limitation, the death, incompetency or dissolution of the Assignor or the Borrower) from the date hereof until all of the Obligations have been fully and completely paid, satisfied and discharged. Thereupon, this Pledge Agreement shall terminate and the Bank shall release any Collateral still held by it which has not been sold or otherwise disposed of in accordance with Section 6 hereof and applied toward the satisfaction of the Obligations hereunder, and the Bank shall deliver delivery any such Collateral to the Assignor, together with any necessary stock powers or assignment executed by the Bank in blank, at the Assignor's expense. The Assignor acknowledges that this Pledge Agreement is and shall be effective upon execution by the Assignor and delivery to and acceptance hereof by the Bank and it shall not be necessary for the Bank to execute any acceptance hereof or otherwise to signify or express its acceptance hereof to the Assignor.

Duration and Effect. This Pledge Agreement shall remain and continue in full force and effect (notwithstanding, without limitation, the death, incompetency or dissolution of the Assignor or the Borrower) from the date hereof until all of the Obligations have been fully and completely paid, satisfied and discharged. Thereupon, this Pledge Agreement shall terminate and the Bank shall release any Collateral still held by it which has not been sold or otherwise disposed of in accordance with Section 6 7 hereof and applied toward the satisfaction of the Obligations hereunder, and the Bank shall deliver any such Collateral to the Assignor, together with any necessary stock powers or assignment executed by the Bank in blank, at the Assignor's expense. The Assignor acknowledges that this Pledge Agreement is and shall be effective upon execution by the Assignor and delivery to and acceptance hereof by the Bank and the execution by the Assignor, and the Bank's trust department of the acknowledgement attached hereto as Exhibit "A", and it shall not be necessary for the Bank to execute any acceptance hereof or otherwise to signify or express its acceptance hereof to the Assignor.