Common use of Security Effective Notwithstanding Date of Advance Clause in Contracts

Security Effective Notwithstanding Date of Advance. The Security Interests constituted by any of the Security or required to be created hereby or thereby shall be effective, and the undertakings as to Security Interests herein or in any Security shall be continuing, whether the monies hereby or thereby secured or any part thereof shall be advanced before or after or at the same time as the creation of any such Security Interest or before or after or upon the date of execution of this Agreement, and shall not be affected by the Secured Obligations fluctuating from time to time or the accounts established by the Administrative Agent or any Lender ceasing to be in debit balance.

Appears in 2 contracts

Samples: Credit Agreement (Sundial Growers Inc.), Credit Agreement (Sundial Growers Inc.)

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Security Effective Notwithstanding Date of Advance. The Security Interests constituted by any of the Security or required to be created hereby or thereby shall be effective, and the undertakings as to Security Interests herein or in any Security shall be continuing, whether the monies hereby or thereby secured or any part thereof shall be advanced before or after or at the same time as the creation of any such Security Interest or before or after or upon the date of execution of this Agreement, and shall not be affected by any fluctuation in the amount of Secured Obligations fluctuating from time to time or the accounts established by the Administrative Agent or any Secured Lender ceasing to be in debit balance.

Appears in 1 contract

Samples: Credit Agreement (Precision Diversified Oilfield Services Corp.)

Security Effective Notwithstanding Date of Advance. The Security Interests constituted by any of the Security or required to be created hereby or thereby shall be effective, and the undertakings as to Security Interests herein or in any Security shall be continuing, whether the monies hereby or thereby secured or any part thereof shall be advanced before or after or at the same time as the creation of any such Security Interest or before or after or upon the date of execution of this Agreement, and shall not be affected by any fluctuation in the amount of Secured Obligations fluctuating from time to time or the accounts established by the Administrative Agent or any Secured Lender ceasing to be in debit balancebalance .

Appears in 1 contract

Samples: Credit Agreement (PRECISION DRILLING Corp)

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Security Effective Notwithstanding Date of Advance. The Security Interests constituted by any of the Security or required to be created hereby or thereby shall be effective, and the undertakings as to Security Interests herein or in any Security shall be continuing, whether the monies hereby or thereby secured or any part thereof shall be advanced before or after or at the same time as the creation of any such Security Interest or before or after or upon the date of execution of this Agreement, and shall not be affected by the Secured Obligations fluctuating from time to time or the accounts established by the Administrative Agent or any Lender Creditor ceasing to be in debit balance.

Appears in 1 contract

Samples: Securities Restructuring Agreement (Sundial Growers Inc.)

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