Common use of Continuing security and other matters Clause in Contracts

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Finance Parties or any of them by each Borrower and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral instrument, right or remedy held by or available to the Security Agent or any of the Finance Parties; and 2.6.3 not be in any way prejudiced or affected by the existence of any such Collateral Instrument, rights or remedies or by the same becoming wholly or in part void, voidable or unenforceable on any ground whatsoever or by the Security Agent or any of the Finance Parties dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Finance Parties Secured Creditors or any of them by each the Borrower and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral instrumentInstrument, right or remedy held by or available to the Security Agent or any of the Finance PartiesSecured Creditors; and 2.6.3 not be in any way prejudiced or affected by the existence of any such Collateral Instrument, rights or remedies or by the same becoming wholly or in part void, voidable or unenforceable on any ground whatsoever or by the Security Agent or any of the Finance Parties Secured Creditors dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Continuing security and other matters. This Guarantee shall: 2.6.1 secure the ultimate balance from time to time owing to the Finance Parties or any of them by each Borrower and shall be a continuing security, notwithstanding any settlement of account or other matter whatsoever; 2.6.2 be in addition to any present or future Collateral instrumentInstrument, right or remedy held by or available to the Security Agent or any of the Finance Parties; and 2.6.3 not be in any way prejudiced or affected by the existence of any such Collateral Instrument, rights or remedies or by the same becoming wholly or in part void, voidable or unenforceable on any ground whatsoever or by the Security Agent or any of the Finance Parties dealing with, exchanging, varying or failing to perfect or enforce any of the same or giving time for payment or indulgence or compounding with any other person liable.

Appears in 1 contract

Sources: On Delivery Facility Agreement (Paragon Shipping Inc.)