Common use of Primary Obligations Clause in Contracts

Primary Obligations. This Deed and the Assignment constitute original, independent and absolute securities (and not secondary or collateral securities) for the Secured Liabilities.

Appears in 3 contracts

Sources: Accounts Assignment (Chaparral Resources Inc), Accounts Assignment (Chaparral Resources Inc), Accounts Assignment (Chaparral Resources Inc)

Primary Obligations. This Deed and the Assignment Security Interests constituted by this Deed constitute original, independent and absolute securities (and not secondary or collateral securities) for the Secured Liabilities.

Appears in 3 contracts

Sources: Deed of Assignment (Chaparral Resources Inc), Deed of Assignment (Chaparral Resources Inc), Deed of Assignment (Chaparral Resources Inc)