Continuing and Independent Security. The Security created under Clause 4.1 of this Deed shall constitute and be continuing security which shall not be released or discharged by any intermediate payment or settlement of the Secured Obligations or any of them, shall continue in full force and effect until the end of the Security Period and 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 Buyer or the Agent may hold at any time for the Secured Obligations or any of them.
Appears in 2 contracts
Sources: Deed of Trust and Charge (Johnsondiversey Inc), Deed of Trust and Charge (Johnsondiversey Holdings Inc)