Common use of Duration of Security Interest Clause in Contracts

Duration of Security Interest. The Secured Party, and its successors and assigns, shall hold the security interest created hereby pursuant to the terms of this Agreement, and this security interest shall continue until the Secured Obligations are paid in full.

Duration of Security Interest. The Secured Party, and its successors and assigns, shall hold the security interest created hereby pursuant to the terms of this Agreement, and this security interest shall continue until the Pledged Shares are released from the contractual restrictions on transfer set forth in paragraph 2.3 of the Purchase Agreement, unless Secured Obligations Party provides a written notice of Default prior to that date, whereby the security interest shall continue in only in a commercially reasonable number of Pledged Shares as are paid in fullnecessary to satisfy said noticed Default and secured interest shall terminate as to the balance of Pledged Shares, if any.

Duration of Security Interest. The Secured Party, and its successors and assigns, assigns shall have and hold the Collateral forever; provided, always, however, that such security interest created is granted upon the express condition that if the Company or Purchaser shall pay or cause to be paid the Secured Obligations, then these presents and the estate hereby pursuant to the terms of this Agreement, granted and conveyed shall cease and this security interest Security Agreement shall continue until become null and void and the Secured Obligations Party will take such actions to release the lien hereof as are paid set forth in fullSection 6.4 hereof; otherwise to remain in full force and effect.