Not Bound to Advance or Commit Sample Clauses

Not Bound to Advance or Commit. Neither the execution and delivery nor the registration of the Debenture shall for any reason whatsoever obligate or bind the Secured Party to advance any moneys or provide any credit or make any commitment or, having advanced or committed a portion, obligate the Secured Party in any way to advance or commit the balance or any further portion thereof; but nevertheless the Debenture and the mortgages, charges and security interests thereby constituted shall take effect forthwith upon execution of the Debenture and shall operate as security for the Liabilities.