Common use of No Setoffs or Counterclaims Clause in Contracts

No Setoffs or Counterclaims. Unless otherwise required by --------------------------- applicable law, all payments hereunder and under the other Loan Documents made by or on behalf of FRI-MRD or Borrower shall be made without setoff or counterclaim.

Appears in 1 contract

Sources: Loan and Security Agreement (Prandium Inc)

No Setoffs or Counterclaims. Unless otherwise required by --------------------------- applicable law, all payments hereunder and under the other Loan Documents made by or on behalf of FRI-MRD or Borrower shall be made without setoff or counterclaim.

Appears in 1 contract

Sources: Loan and Security Agreement (Family Restaurants)