Common use of Effectiveness of Security Clause in Contracts

Effectiveness of Security. 11.1 This Charge Agreement shall be in addition to and shall be independent of every other security which you may at any time hold for any of the Obligations. No prior security held by you over the whole or any part of the Charged Portfolio shall merge in the security hereby constituted. 11.2 This Charge Agreement shall remain in full force and effect as a continuing security unless and until you discharge it. 11.3 Nothing contained in this Charge Agreement is intended to, or shall operate so as to, prejudice or affect any ▇▇▇▇, note, guarantee, mortgage, pledge, charge or other security of any kind whatsoever which you may have for the Obligations or any of them or any right, remedy or privilege of yours thereunder.