Common use of Effectiveness of Security Clause in Contracts

Effectiveness of Security. The Pledge shall be a first ranking continuing security and shall not be considered as satisfied or discharged or prejudiced by any intermediate payment or by the settlement of any part of the Secured Obligations and shall remain in full force and effect until it has been released in accordance with the terms of this Agreement.

Effectiveness of Security. The Pledge shall be a first continuing, first-ranking continuing security and shall not be considered as satisfied or discharged or prejudiced by any intermediate payment payment, satisfaction or by the settlement of any part of the Secured Obligations and shall remain in full force and effect until it has been released payment and discharge in accordance with full of all the terms of this AgreementSecured Obligations.