Common use of Continuing Security Interest: Assignments under Credit Agreement Clause in Contracts

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the Term Commitment has terminated and the Secured Obligations have been paid in full, (b) be binding upon the Borrower and its successors and assigns and (c) inure, together with the rights and remedies of the Bank hereunder, to the benefit of the Bank and its successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), the Bank may assign or otherwise transfer any or all of its rights and obligations under the Credit Agreement to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to the Bank herein or otherwise. Upon the termination of the Term Commitment and the payment in full of the Secured Obligations, the security interest granted hereby shall terminate, and all rights to the Collateral shall revert to the Borrower. Upon any such termination, the Bank will execute and deliver to the Borrower, at its expense, such documents as the Borrower may reasonably request to evidence such termination.

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a1) remain in full force and effect until the Term Commitment has terminated later of the payment in full of the Obligations and the Secured Obligations have been paid in full, all other amounts payable under this Agreement; (b2) be binding upon the Borrower and Grantor, its successors and assigns assigns; and (c3) inure, together with the rights and remedies of the Bank hereunder, inure to the benefit of of, and be enforceable by, the Bank and its successors, transferees transferees, and assigns. Without limiting the generality of the foregoing clause (c3), the Bank may assign or otherwise transfer all or any or all portion of its rights and obligations under the Credit Agreement to any other Personperson or entity, and such other Person person or entity shall thereupon become vested with all of the benefits in respect thereof granted to the Bank herein or otherwise. Upon the termination later of the Term Commitment and the payment in full of the Secured ObligationsObligations and all other amounts payable under this Agreement, the security interest granted hereby shall terminate, terminate and all rights to the Collateral shall revert to the BorrowerGrantor. Upon any such termination, the Bank will will, at the Grantor's expense, execute and deliver to the Borrower, at its expense, Grantor such documents as the Borrower may Grantor shall reasonably request to evidence such termination.

Continuing Security Interest: Assignments under Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a1) remain in full force and effect until the Term Commitment has terminated later of the payment in full of the Obligations and the Secured Obligations have been paid in full, all other amounts payable under this Agreement; (b2) be binding upon the Borrower and Borrower, its successors and assigns assigns; and (c3) inure, together with the rights and remedies of the Bank hereunder, inure to the benefit of of, and be enforceable by, the Bank and its successors, transferees transferees, and assigns. Without limiting the generality of the foregoing clause (c3), the Bank may assign or otherwise transfer all or any or all portion of its rights and obligations under the Credit Agreement to any other Personperson or entity, and such other Person person or entity shall thereupon become vested with all of the benefits in respect thereof granted to the Bank herein or otherwise. Upon the termination later of the Term Commitment and the payment in full of the Secured ObligationsObligations and all other amounts payable under this Agreement, the security interest granted hereby shall terminate, terminate and all rights to the Collateral shall revert to the Borrower. Upon any such termination, the Bank will will, at the Borrower's expense, execute and deliver to the Borrower, at its expense, Borrower such documents as the Borrower may shall reasonably request to evidence such termination.