Common use of Continuous Security Clause in Contracts

Continuous Security. The hypothecs created hereby are continuous security and shall subsist notwithstanding any fluctuation of the amounts hereby secured. Any future obligation hereby secured shall be deemed to be one in respect of which the Borrower has once again obligated itself hereunder according to the provisions of article 2797 of the Civil Code of Québec. Any future obligation under a subsequent contract of credit entered into between the Borrower and the Lender will be secured by the hypothecs granted by the Borrower under this Contract, subject to the Borrower’s consent. HYPOTHEC ON RENTS