Subsequent Encumbrances. If the Lender receives notice (actual or otherwise) of any subsequent Encumbrance, assignment or other disposition affecting the Charged Assets or any interest in the Charged Assets or the proceeds of sale thereof, the Lender shall be deemed to have opened a new account when such notice was received and as from that time all payments in respect of or on account of the Secured Obligations shall be deemed to have been credited to the new account and shall not, as between the Chargor and the Lender, operate to reduce the amount of the Secured Obligations outstanding when such notice was received.
Appears in 6 contracts
Samples: Debenture (Borqs Technologies, Inc.), Debenture (Borqs Technologies, Inc.), Debenture (Borqs Technologies, Inc.)
