Common use of Security cumulative Clause in Contracts

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 15 contracts

Samples: www.lw.com, First Supplemental Agreement (Gulfmark Offshore Inc), Loan Facility Agreement (Gulfmark Offshore Inc)

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Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties Banks or any of them by the Agent for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance PartiesBanks or the Agent, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 4 contracts

Samples: Loan Agreement (Mc Shipping Inc), Loan Agreement (Mc Shipping Inc), Agreement (Usg Corp)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Lender Finance Parties or any of them for or in respect of all or any part of the Lender Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Lender Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 4 contracts

Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx Acx 0000 and xnd all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.. \P1\3522333.10

Appears in 2 contracts

Samples: Loan Facility Agreement (Teekay Shipping Corp), Loan Facility Agreement (Teekay LNG Partners L.P.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them Lender, for or in respect of all or any part of the IndebtednessIndebtedness and the Hedging Liabilities, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance PartiesLender, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent Lender considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (DHT Holdings, Inc.)

Security cumulative. The security constituted by the Security Documents and the Guarantee shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 Act 1925 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Agreement (Teekay LNG Partners L.P.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 Act 1925 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Gulfmark Offshore Inc

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.. \P1\3522333.10

Appears in 1 contract

Samples: Loan Facility Agreement

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 Act 1925 and all provisions which provxxxxxx xhich the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Guarantee Facility Agreement (Stolt Offshore S A)

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Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties Banks or any of them by the Agent for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance PartiesBanks or the Agent, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.. 19.13

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Arlington Tankers Ltd.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties Issuers or any of them the Agent for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance PartiesIssuers or the Agent, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx Axx 0000 and all provisions which the Issuers or the Agent considers consider analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Agreement (NCL CORP Ltd.)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties or any of them for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance Parties, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 Act 1925 and all provisions which the Agent considers analogous thereto anxxxxxxx xxxxxxx under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Loan Facility Agreement (Stolt Offshore S A)

Security cumulative. The security constituted by the Security Documents shall be in addition to any other security now or in the future held by the Finance Parties Banks or any of them by the Agent for or in respect of all or any part of the Indebtedness, and shall not merge with or prejudice or be prejudiced by any such security or any other contractual or legal rights of any of the Finance PartiesBanks or the Agent, nor affected by any irregularity, defect or informality, or by any release, exchange or variation of any such security. Section 93 of the Law of Property Xxx 0000 Act 1925 and all provisions which the Agent considers analogous thereto under the law of any other relevant jurisdiction shall not apply to the security constituted by the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

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