Preservation of Security. 6.1. It is hereby agreed and declared that:
6.1.1. the security created by this Charge shall be held by the Chargee as a continuing security for the payment and discharge of the Secured Obligations and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations;
6.1.2. the security created by this Charge is in addition to and independent of and shall not prejudice or merge with any other security (or any right of set-off) which the Chargee may hold at any time for the Secured Obligations or any of them;
6.1.3. the Chargee shall not be bound to seek to recover any amounts due from the Chargor or any other person, exercise any rights against the Chargor or any other person or enforce any other security before enforcing the security created by this Charge;
6.1.4. no delay or omission on the part of the Chargee in exercising any right, power or remedy under this Charge shall impair such right, power or remedy or be construed as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies herein provided are cumulative and not exclusive of any rights, powers and remedies provided by law and may be exercised from time to time and as often as the Chargee may deem expedient; and
6.1.5. any waiver by the Chargee of any terms of this Charge shall only be effective if given in writing and then only against the Chargee and for the purpose and upon the terms for which it is given.
6.2. Where any discharge is made in whole or in part or any arrangement is made on the faith of any payment, security or other disposition which is avoided or must be repaid on bankruptcy, liquidation, by virtue of Section 1001 of the Taxes Consolidation Act 1997 or otherwise without limitation, this Charge shall continue in force as if there had been no such discharge or arrangement. The Chargee shall be entitled to concede or compromise in good faith any claim that any such payment, security or other disposition is liable to avoidance or repayment.
6.3. Until the Secured Obligations have been unconditionally and irrevocably satisfied and discharged in full to the satisfaction of the Chargee or as otherwise provided in the Credit Agreement or the Security Agreement, the Chargee may at any time keep in a separate account or accounts (without liability to pay interest ther...
Preservation of Security. (a) The security constituted by this Assignment shall be continuing and will extend to the ultimate balance of the Secured Obligations, regardless of any intermediate payment or discharge in part (whether in respect of this Assignment, any other security or otherwise).
(b) Subject to Clause 15, the obligations of the Assignor hereunder shall not be affected by any act, omission or circumstances which, but for this provision, might operate to release or otherwise exonerate the Assignor from its obligations hereunder or affect such obligations including without limitation and whether or not known to the Assignor or the Assignee:
(i) any time, waiver or concession granted to or composition with the Assignor or any other party to the Loan Documents;
(ii) the taking, variation, extension, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any terms of the Loan Documents or any rights or remedies against, or securities granted by the Assignor or by any party to the Loan Documents;
(iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor or any party to the Loan Documents or any present or future law or order of any government or authority (whether of right or in fact) purporting to reduce or otherwise affect any of such obligations to the intent that the Assignor’s obligations under this Assignment and this security shall remain in full force and this Assignment shall be construed accordingly as if there were no such irregularity, unenforceability, invalidity, law or order; and
(iv) any legal limitation, disability, incapacity or other circumstances, including bankruptcy, insolvency, liquidation, administrative or other receivership, relating to the Assignor or any party to the Loan Documents or any other person or any amendment to or variation of the terms of the Loan Documents or any other document or security.
(c) Provided an Enforcement Event has occurred and is continuing, the Assignor waives (i) its right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to enforce and realise the Receivables subject of this Assignment and (ii) any right it may have of first requiring the Collateral Agent to enforce any guarantee, pledge or other security before enforcing and realising this Agreement.
(d) This Assignment shall be cumulative, independent of, separate from, in addition to and shall not in any way be prejudiced by any other assignment or other securit...
Preservation of Security. 4 Section 4.1. CONTINUING SECURITY........................................................................4 Section 4.2. WAIVER OF DEFENSES.........................................................................4 Section 4.3. IMMEDIATE RECOURSE.........................................................................5 Section 4.4.
Preservation of Security. The security constituted by this Deed shall be a continuing security and shall not be satisfied by any intermediate payment or satisfaction of the whole or any part of the Obligations but shall secure the ultimate balance of the Obligations. If for any reason this security ceases to be a continuing security, the Secured Party may open a new account with or continue any existing account with the Chargor and the liability of the Chargor in respect of the Obligations at the date of such cessation shall remain regardless of any payments into or out of any such account. The security constituted by this Deed shall be in addition to and shall not be affected by any other security now or subsequently held by the Secured Party for all or any of the Obligations.
Preservation of Security. (a) The Issuer shall execute and cause to be executed by the other Obligors, the Security Documents and validly create and perfect, and cause to be created and perfected by the other Obligors, the Security in favour of the Debenture Trustee for the benefit of the Debenture Holders in accordance with and within the timelines mentioned in Section 4.
(b) The Issuer shall take, and cause to be taken by the other Obligors, all actions required to maintain and preserve the Security Interest under the Security Documents including the priority and pari passu nature thereof in accordance with Section 4. The Issuer shall from time to time execute, or cause to be executed by the other Obligors, any and all further instruments and register and record such instruments in all public and other offices in order to create, perfect, preserve and maintain valid, perfected and enforceable Security Interest of the ranking and priority mentioned in Section 4 over the properties secured and/or to be secured in favour of or for the benefit of the Debenture Holders and the Debenture Trustee pursuant to the Security Documents.
Preservation of Security. If for any reason any Security Interest intended to be created by this Deed ceases to be continuing security, such Security Interest shall remain effective as security in respect of the Secured Liabilities at the date of such cessation, regardless of any subsequent increase or reduction in the amounts of any sums constituting Secured Liabilities.
Preservation of Security. To sign and deliver to Lender such documents, instruments, assignments and other writings, and to do such other acts necessary or desirable to preserve and protect the collateral at any time securing or intended to secure the Note, as Lender may require.
Preservation of Security. In the event that Seller has provided a Letter of Credit under the terms of this Agreement, Seller will preserve the Letter of Credit in place until all payments due under this Agreement for which the Letter of Credit has been provided have been made in full. SALE AND PURCHASE OF AECS
Preservation of Security. The Borrower shall observe and perform all of its obligations and all matters and things necessary or expedient to be done, observed or performed by virtue of any law, decree, regulation or similar enactment for the purpose of creating, maintaining and keeping maintained the liens created by the Security granted by the Borrower as a valid and effective security interest in favour of the Lender or its assigns upon the property, assets and undertaking charged or intended to be charged thereby and performing the obligations therein contained. The Borrower shall file, register, enter or record the Security, all modifications thereto and all other instruments of further assurance in respect thereof without delay wherever in the opinion of the Lender it would be of material advantage in preserving and protecting the liens created by the Security and shall renew such filings, registrations, entries or recordings from time to time as and when required, including as required by the Lender acting reasonably, and to fully and effectively maintain and keep maintained the Security as a valid and effective security interest upon the property, assets and undertaking charged or intended to be charged thereby.
Preservation of Security. All reasonable costs incurred by the Lender after an Event of Default has occurred in connection with preservation of the Borrower’s assets (whether now or hereafter existing) or Security or collection of amounts due under the Loan Agreement (including these General Conditions) shall be charged to the Borrower and reimbursed as the Lender shall specify.
