Common use of Offset and Set-off Rights Clause in Contracts

Offset and Set-off Rights. In the event that (i) CSO is in default under any Credit Enhancement issued in respect of any Loan or (ii) in default under Section 18 hereof, then, without any prior notice to CSO, any such notice being expressly waived by CSO to the extent permitted by applicable law, Lender shall have the right to set-off, offset and apply against any Guarantied Obligations owed by CSO and/or Principal Guarantor to Lender, until paid in full, any and all pledged cash and any other credits, indebtedness or obligations, in each case whether direct or indirect, absolute or contingent, matured or unmatured, owed by Lender to or for the credit or the account of CSO under this Agreement or any other agreement between CSO and Lender; provided that the foregoing set-off, offset and application rights of Lender shall not limit in any manner, and shall be in addition to, any other rights and remedies of Lender provided by this Agreement and by law. Lender agrees promptly to notify CSO after any such set-off, offset and application made by Lender pursuant to the preceding sentence; provided that any failure to give such notice shall not affect the validity of such set-off, offset, appropriation and application.

Offset and Set-off Rights. In the event that (i) CSO is in default under any Credit Enhancement issued in respect of any Loan or (ii) in default under Section 18 hereof, then, without any prior notice to CSO, any such notice being expressly waived by CSO to the extent permitted by applicable law, Lender shall have the right to set-off, offset and apply against any Guarantied Obligations owed by CSO and/or Principal Guarantor to Lender, until paid in full, any and all pledged cash CSO Entitlements and any other credits, indebtedness or obligations, in each case whether direct or indirect, absolute or contingent, matured or unmatured, owed by Lender to or for the credit or the account of CSO under this Agreement or any other agreement between CSO and Lender; provided that the foregoing set-off, offset and application rights of Lender shall not limit in any manner, and shall be in addition to, any other rights and remedies of Lender provided by this Agreement and by law. Lender agrees promptly to notify CSO after any such set-off, offset and application made by Lender pursuant to the preceding sentence; provided that any failure to give such notice shall not affect the validity of such set-set off, offset, appropriation and application.

Offset and Set-off Rights. In the event that (i) CSO is in default under any Credit Enhancement issued in respect of any Loan or (ii) in default under Section 18 hereof, then, without any prior notice to CSO, any such notice being expressly waived by CSO to the extent permitted by applicable law, Lender shall have the right to set-off, offset and apply against any Guarantied Obligations owed by CSO and/or Principal Guarantor to Lenderlender, until paid in In full, any and all pledged cash and any other credits, indebtedness or obligations, in each case whether direct or indirectIndirect, absolute or contingent, matured or unmatured, owed by Lender lender to or for the credit or the account of CSO under this Agreement or any other agreement between CSO and Lender; provided that the foregoing set-off, offset and application rights of Lender shall not limit in any manner, and shall be in addition to, any other rights and remedies of Lender provided by this Agreement and by lawJaw. Lender agrees promptly to notify CSO after any such set-off, offset and application made by Lender pursuant to the preceding sentence; provided that any failure to give such notice shall not affect the validity of such set-off, offset, appropriation and application.

Offset and Set-off Rights. In the event that (i) CSO is in default under any Credit Enhancement issued in respect of any Loan or (ii) in default under Section 18 hereof, then, without any prior notice to CSO, any such notice being expressly waived by CSO to the extent permitted by applicable law, Lender shall have the right to set-off, offset and apply against any Guarantied Obligations owed by CSO and/or Principal Guarantor to Lender, until paid in full, any and all pledged cash and any other credits, indebtedness or obligations, in each case whether direct or indirect, absolute or contingent, matured or unmatured, owed by Lender to or for the credit or the account of CSO under this Agreement or any other agreement between CSO and Lender; provided that the foregoing set-off, offset and application rights of Lender shall not limit in any manner, and shall be in addition to, any other rights and remedies of Lender provided by this Agreement and by law. Lender agrees promptly to notify CSO after no less than FIVE (5) days before any such set-off, offset and application intended to be made by Lender pursuant to the preceding sentence; provided that any failure to give such notice shall not affect the validity of such set-off, offset, appropriation and application.

Offset and Set-off Rights. In the event that (i) CSO is in default under any Credit Enhancement issued in respect of any Loan or (ii) in default under Section 18 hereof, then, without any prior notice to CSO, any such notice being expressly waived by CSO to the extent permitted by applicable law, Lender shall have the right to set-off, offset and apply against any Guarantied Obligations owed by CSO and/or Principal Guarantor to Lender, until paid in full, any and all pledged cash CSO Entitlements and any other credits, indebtedness or obligations, in each case whether direct or indirect, absolute or contingent, matured or unmatured, owed by Lender to or for the credit or the account of CSO under this Agreement or any other agreement between CSO and Lender; provided that the foregoing set-off, offset and application rights of Lender shall not limit in any manner, and shall be in addition to, any other rights and remedies of Lender provided by this Agreement and by law. Lender ▇▇▇▇▇▇ agrees promptly to notify CSO after any such set-off, offset and application made by Lender pursuant to the preceding sentence; provided that any failure to give such notice shall not affect the validity of such set-set off, offset, appropriation and application.