Common use of Preservation of Security Clause in Contracts

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 security or guarantee as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.

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 1516, 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 Secured Assets 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 security or guarantee as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.

Preservation of Security. (a) The security constituted by this Assignment Pledge 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 AssignmentPledge, any other security or otherwise). (b) Subject to Clause 1518, the obligations of the Assignor Pledgor 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 Pledgor from its obligations hereunder or affect such obligations including without limitation and whether or not known to the Assignor Pledgor or the AssigneeCollateral Agent: (i) any time, waiver or concession granted to or composition with the Assignor Pledgor 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 Pledgor or by any party to the Loan Documents; (iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor Pledgor 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 AssignorPledgor’s obligations under this Assignment Pledge and this security shall remain in full force and this Assignment Pledge 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, circumstances including bankruptcy, insolvency, liquidation, administrative or other receivership, receivership relating to the Assignor Pledgor 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 Pledgor waives (i) its right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to enforce and realise the Receivables Shares subject of this Assignment Pledge and (ii) any right it may have of first requiring the Collateral Agent of the Secured Parties to enforce any guarantee, pledge or other security before enforcing and realising this Agreement. (d) This Assignment Pledge shall be cumulative, independent of, separate from, in addition to and shall not in any way be prejudiced by any other assignment pledge or other security or guarantee as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.

Preservation of Security. (a) The security constituted by this Assignment IP Pledge 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 AssignmentPledge, any other security or otherwise). (b) Subject to Clause 15, the obligations of the Assignor Pledgor 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 Pledgor from its obligations hereunder or affect such obligations including without limitation and whether or not known to the Assignor Pledgor or to the AssigneePledgee: (i) any time, waiver or concession granted to or composition with the Assignor Pledgor 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 Pledgor or by any party to the Loan Documents; (iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor Pledgor 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 AssignorPledgor’s obligations under this Assignment Pledge and this security shall remain in full force and this Assignment Pledge 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, circumstances including bankruptcy, insolvency, liquidation, administrative or other receivership, receivership relating to the Assignor Pledgor 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 Pledgor waives (i) its right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to enforce and realise the Receivables IP Rights subject of this Assignment Pledge 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 AgreementPledge. (d) This Assignment IP Pledge shall be cumulative, independent of, separate from, in addition to and shall not in any way be prejudiced by any other assignment pledge or other security or guarantee as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.

Preservation of Security. (a) The security constituted by this Assignment Charge shall be continuing and will extend to not satisfied by an intermediate payment or satisfaction of the whole or any part of the Secured Obligations but shall secure the ultimate balance of the Secured Obligations, regardless of any intermediate payment or discharge . The security hereby given shall be in part (whether in respect of this Assignment, addition to any other security Lien now or otherwise)hereafter held by the Secured Party for all or any of the Secured Obligations, and the Secured Party's rights under this Charge shall not be postponed, lessened or otherwise prejudicially affected or merged in any other such security. (b) Subject to Clause 15, the The obligations of the Assignor Chargor hereunder and the security constituted by this Charge shall not be affected by any act, omission or circumstances which, which but for this provision, provision might operate to release or otherwise exonerate the Assignor Chargor from its obligations hereunder or affect such obligations including without limitation and whether or not known to either of the Assignor Chargor or the AssigneeSecured Party: (i) any time, waiver time or concession indulgence granted to any person, including any Company, or composition with the Assignor or any other party to the Loan DocumentsChargor; (ii) the taking, variation, extension, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up perfect or enforce, 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;this Charge; and (iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor or any party to the Loan Documents Secured Obligations 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 Secured Obligations which 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 Where any discharge (i) its right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to enforce and realise the Receivables subject whether in respect of this Assignment and (ii) Charge, 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 security or guarantee as otherwise) 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 or otherwise without limitation, this security and the liability of the Effective Date Chargor under this Charge shall continue as if there had been no such discharge or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreementarrangement.

Preservation of Security. (a) The security constituted by this Assignment pledge: (i) shall be a continuing and will extend to security, shall only be satisfied by the ultimate balance satisfaction of the Secured Obligations, regardless of Liabilities in accordance with the Amended and Restated EBRD Credit Agreement and shall not be satisfied by any intermediate payment by the Company to the Pledgee or discharge satisfaction of any part of the Secured Liabilities; (ii) shall be in part (whether in respect of this Assignment, addition to and shall not be affected by any other security now or otherwise)subsequently held by the Pledgee for all or any of the Secured Liabilities; and (iii) shall remain in force during any reorganisation, liquidation or insolvency (bankruptcy) of the Pledgor or the Company. (b) Subject to Clause 15, the The obligations of the Assignor hereunder Pledgor under the security constituted by this Agreement shall not be affected by any act, omission or circumstances which, but for this provision, might operate to release or otherwise exonerate the Assignor Pledgor from its obligations hereunder under this Agreement or affect such obligations obligations, including (but without limitation limitation) and whether or not known to the Assignor Pledgor or the Assignee: Pledgee: (i) any time, waiver time or concession indulgence granted to or composition with the Assignor Company or any other party to the Loan Documents; person; (ii) the taking, variation, extension, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up perfect or enforce, any terms of any of the Loan Documents Financing Agreements or any rights or remedies against, or securities any security granted by by, the Assignor Company or by any party to the Loan Documents; other person; (iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor or Company under any party to of the Loan Documents Financing Agreements or any present or future law or order of any government or authority (whether of right or in fact) purporting to reduce or <PAGE> 11 otherwise affect any of such obligations to with the intent result that the Assignor’s Pledgor's obligations under this Assignment Agreement and this security shall remain in full force and this Assignment Agreement shall be construed accordingly as if there were no such irregularity, unenforceability, invalidity, law or order; and or (iv) any legal limitation, disability, incapacity or other circumstances, including bankruptcy, insolvency, liquidation, administrative or other receivership, circumstances relating to the Assignor or any party to the Loan Documents Company or any other person or any amendment to or variation of the terms of any of the Loan Documents Financing Agreements or any other document or security. (c) Provided an Enforcement Event has occurred and is continuing, the Assignor The Pledgor waives (i) its any right of objection pursuant to Art. 41 SchKG it may at any time have or acquire of first requiring the Collateral Agent Pledgee to enforce and realise proceed against or claim payment from the Receivables subject of this Assignment and (ii) any right it may have of first requiring the Collateral Agent to Company or enforce any guarantee, pledge or other security before enforcing and realising this Agreement. (d) This Assignment The Pledgor shall not by virtue of any payment made, or security realised, hereunder: (i) be entitled or claim to rank as creditor in the bankruptcy, liquidation or dissolution of the Company in competition with the Pledgee; or (ii) receive, claim or have the benefit of any payment or distribution from or on account of the Company or exercise any right of set-off as against the Company or claim the benefit of any security or monies held by or for the account of the Pledgee and the Pledgee shall be cumulative, independent of, separate from, in addition entitled to apply such security and shall not in any way be prejudiced by any other assignment or other security or guarantee monies as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreementit sees fit.

Preservation of Security. (a) The security constituted by this Assignment pledge: (i) shall be a continuing and will extend to security, shall only be satisfied by the ultimate balance satisfaction of the Secured Obligations, regardless of Liabilities in accordance with the Amended and Restated EBRD Credit Agreement and shall not be satisfied by any intermediate payment by the Company to the Pledgee or discharge satisfaction of any part of the Secured Liabilities; (ii) shall be in part (whether in respect of this Assignment, addition to and shall not be affected by any other security now or otherwise)subsequently held by the Pledgee for all or any of the Secured Liabilities; and (iii) shall remain in force during any reorganisation, liquidation or insolvency (bankruptcy) of the Pledgor or the Company. (b) Subject to Clause 15, the The obligations of the Assignor hereunder Pledgor under the security constituted by this Agreement shall not be affected by any act, omission or circumstances which, but for this provision, might operate to release or otherwise exonerate the Assignor Pledgor from its obligations hereunder under this Agreement or affect such obligations obligations, including (but without limitation limitation) and whether or not known to the Assignor Pledgor or the AssigneePledgee: (i) any time, waiver time or concession indulgence granted to or composition with the Assignor Company or any other party to the Loan Documentsperson; (ii) the taking, variation, extension, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up perfect or enforce, any terms of any of the Loan Documents Financing Agreements or any rights or remedies against, or securities any security granted by by, the Assignor Company or by any party to the Loan Documentsother person; (iii) any irregularity, invalidity or unenforceability of any obligations of the Assignor or Company under any party to of the Loan Documents Financing Agreements 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 with the intent result that the Assignor’s Pledgor's obligations under this Assignment Agreement and this security shall remain in full force and this Assignment Agreement shall be construed accordingly as if there were no such irregularity, unenforceability, invalidity, law or order; andor (iv) any legal limitation, disability, incapacity or other circumstances, including bankruptcy, insolvency, liquidation, administrative or other receivership, circumstances relating to the Assignor or any party to the Loan Documents Company or any other person or any amendment to or variation of the terms of any of the Loan Documents Financing Agreements or any other document or security. (c) Provided an Enforcement Event has occurred and is continuing, the Assignor The Pledgor waives (i) its any right of objection pursuant to Art. 41 SchKG it may at any time have or acquire of first requiring the Collateral Agent Pledgee to enforce and realise proceed against or claim payment from the Receivables subject of this Assignment and (ii) any right it may have of first requiring the Collateral Agent to Company or enforce any guarantee, pledge or other security before enforcing and realising this Agreement. (d) This Assignment The Pledgor shall not by virtue of any payment made, or security realised, hereunder: (i) be entitled or claim to rank as creditor in the bankruptcy, liquidation or dissolution of the Company in competition with the Pledgee; or (ii) receive, claim or have the benefit of any payment or distribution from or on account of the Company or exercise any right of set-off as against the Company or claim the benefit of any security or monies held by or for the account of the Pledgee and the Pledgee shall be cumulative, independent of, separate from, in addition entitled to apply such security and shall not in any way be prejudiced by any other assignment or other security or guarantee monies as of the Effective Date or thereafter held by the Collateral Agent or any other Secured Party with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreementit sees fit.

Preservation of Security. (a) The security constituted by this Assignment Pledge 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 AssignmentPledge, any other security or otherwise). (b) Subject to Clause 15, the The obligations of the Assignor Pledgor 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 Pledgor from its obligations hereunder or affect such obligations including without limitation and whether or not known to the Assignor Pledgor or any of the AssigneePledgees including without limitation: (i) any time, waiver or concession granted to or composition with the Assignor Pledgor 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 any Loan Documents Document or any rights or remedies against, or securities granted by the Assignor Pledgor or by any party to the Loan Documents; (iii) any irregularity, partial invalidity or unenforceability of any obligations of the Assignor Pledgor 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 and the intent that the AssignorPledgor’s obligations under this Assignment Pledge and this security shall remain in full force and this Assignment Pledge 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, circumstances relating to the Assignor Pledgor 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 Pledgor 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 Administrative Agent (acting for itself and for and on behalf of the Secured Parties) to proceed or to take legal action against or claim payment from the Pledgor or any party to the Loan Documents or to enforce any guarantee, pledge or other security before enforcing and realising this AgreementPledge. In particular, the Pledgor waives its right of objection pursuant to art. 41 SchKG of first requiring the Administrative Agent (acting for itself and for and on behalf of the Secured Parties) to enforce and realise the Shares subject of this Pledge. (d) This Assignment Pledge shall be cumulative, independent of, separate from, in addition to and shall not in any way be prejudiced by any other assignment pledge or other security or guarantee as of the Effective Date now or thereafter hereafter held by the Collateral Administrative Agent (acting for itself and for and on behalf of the Pledgees) or any other Secured Party the Pledgees with respect to any Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.