Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 13 contracts
Sources: Credit Agreement (Jumbosports Inc), Credit Agreement (Riddell Sports Inc), Credit Agreement (Dispatch Management Services Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Borrower or its Subsidiaries against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 10 contracts
Sources: Term Loan Agreement (Brandywine Operating Partnership, L.P.), Term Loan Agreement (Brandywine Operating Partnership, L.P.), Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwiselaw, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 9 contracts
Sources: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 9 contracts
Sources: Credit Agreement (Navigant International Inc), Credit Agreement (Personnel Group of America Inc), Credit Agreement (Just for Feet Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 9 contracts
Sources: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 8 contracts
Sources: 364 Day Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, hereunder or under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans Advances and the Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 8 contracts
Sources: Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 7 contracts
Sources: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 6 contracts
Sources: Credit Agreement (DCP Midstream Partners, LP), Bridge Credit Agreement (DCP Midstream Partners, LP), Credit Agreement (Spectra Energy Partners, LP)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party a Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 5 contracts
Sources: 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 5 contracts
Sources: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 5 contracts
Sources: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 5 contracts
Sources: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any a Credit Party against obligations and liabilities of such a Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each Credit Parties Party hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c14.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Wolverine Tube Inc), Credit Agreement (Wolverine Tube Inc), Credit Agreement (Wolverine Tube Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, the Administrative Agent, each Lender and each L/C Issuer is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by the Administrative Agent, such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) or such L/C Issuer to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, Borrower Obligations irrespective of whether the Administrative Agent Agent, the L/C Issuers or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claimsBorrower Obligations, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Oglethorpe Power Corp), Credit Agreement (Oglethorpe Power Corp), Credit Agreement (Oglethorpe Power Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.7(b) may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 3 contracts
Sources: Term Loan Credit Agreement (Brandywine Operating Partnership Lp /Pa), Term Loan Credit Agreement (Brandywine Operating Partnership Lp /Pa), Term Loan Credit Agreement (Brandywine Realty Trust)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.02, each Lender Lender, to the extent permitted by law, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such each Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.09 or 11.03(e) or 3.8 may exercise all rights of set-off with respect to its participation interest Participation Interest as fully as if such Person were a Lender hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc), 364 Day Credit Agreement (Baker Hughes Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Revolving Loan Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Wisconsin Public Service Corp), Credit Agreement (WPS Resources Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness Indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Canada Holdings Inc), Credit Agreement (Chattem Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (WPS Resources Corp), Credit Agreement (WPS Resources Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Airgas Inc), Credit Agreement (Airgas Inc)
Right of Set-off. In addition to any rights add▇▇▇▇▇ ▇▇ ▇▇▇ ▇ights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: 364 Day Credit Agreement (Universal Corp /Va/), Credit Agreement (Universal Corp /Va/)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwiseEach of the Administrative Agent, each Lender, and not by way of limitation each Affiliate (including each branch office thereof) of any such rightsof them is hereby authorized, upon the occurrence without notice or demand (each of an Event of Default and the commencement of remedies described in Section 9.2which is hereby waived by each Credit Party), each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice time during the continuance of any kind (all Event of which rights being hereby expressly waived)Default and to the fullest extent permitted by Applicable Law, to set-set off and to appropriate and apply any and all deposits (whether general or special, time or demand, provisional or final) and any other indebtedness at any time held and other Indebtedness, claims or other obligations at any time owing by the Administrative Agent, such Lender (including, without limitation, branches, agencies or any of their respective Affiliates of such Lender wherever located) to or for the credit or the account of the Borrowers or any other Credit Party against any Obligation of any Credit Party against obligations now or hereafter existing, whether or not any demand was made under any Loan Document with respect to such Obligation and liabilities even though such Obligation may be unmatured. No Lender shall exercise any such right of such Credit Party to setoff without the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective prior consent of whether the Administrative Agent or the Lenders Required Lenders. Each of the Administrative Agent and each Lender agrees promptly to notify the Borrowers and the Administrative Agent after any such setoff and application made by such Lender or its Affiliates; provided, however, that the failure to give such notice shall have made not affect the validity of such setoff and application. The rights under this Section 12.2 are in addition to any demand hereunder other rights and although such obligationsremedies (including other rights of setoff) that the Administrative Agent, liabilities or claimsthe Lenders, or any of themtheir Affiliates and the other Secured Parties, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhave.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Stone Point Credit Corp), Revolving Credit Agreement (Stone Point Credit Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waivedwaived to the extent permitted by law), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. Following the exercise of its rights under this Section 11.2, such Lender shall make reasonable efforts to promptly notify the Borrower and/or the relevant Credit Party.
Appears in 2 contracts
Sources: Credit Agreement (Pca International Inc), Credit Agreement (Pca International Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (PNM Resources Inc), Term Loan Credit Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each New Credit Agreement Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such New Credit Agreement Lender (including, without limitation, limitation branches, agencies or Affiliates of such New Credit Agreement Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the New Credit Agreement Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the New Credit Agreement Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a New Credit Agreement Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party or any of its Subsidiaries against obligations and liabilities the Credit Party Obligations of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwiseParty, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, Credit Party Obligations may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: 364 Day Credit Agreement (Pulte Corp), Credit Agreement (Pulte Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any the Credit Party Parties against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Central Parking Corp), Credit Agreement (Central Parking Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (Texas New Mexico Power Co), Term Loan Credit Agreement (Texas New Mexico Power Co)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts.
Appears in 2 contracts
Sources: 364 Day Credit Agreement (United Dominion Realty Trust Inc), Credit Agreement (United Dominion Realty Trust Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) ), 3.7 or 3.8 3.15 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.
Appears in 2 contracts
Sources: Credit Agreement (Knoll Inc), Credit Agreement (Knoll Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Texas New Mexico Power Co), Credit Agreement (Texas New Mexico Power Co)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Inex Corp), Credit Agreement (Speedway Motorsports Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. Following the exercise of its rights under this Section 11.2, such Lender shall make reasonable efforts to notify the Borrower and/or the relevant Credit Party.
Appears in 2 contracts
Sources: Credit Agreement (Pca International Inc), Credit Agreement (Pca International Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.02, each Lender Lender, to the extent permitted by law, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such each Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.09 or 11.03(e) or 3.8 may exercise all rights of set-off with respect to its participation interest Participation Interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (PNM Resources Inc), Credit Agreement (Texas New Mexico Power Co)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Three Year Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 Section 3.14 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Genicom Corp), Credit Agreement (Genicom Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Amerisource Distribution Corp), Credit Agreement (Amerisource Distribution Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender Bank is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender Bank (including, without limitation, branches, agencies or Affiliates of such Lender Bank wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Bank hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Bank subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender Bank hereunder.
Appears in 2 contracts
Sources: Loan Agreement (Genesco Inc), Loan Agreement (Genesco Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and during the commencement of remedies described in Section 9.2continuation thereof, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Ivex Packaging Corp /De/), Credit Agreement (Ivex Packaging Corp /De/)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates affiliates of such Lender which are at least 50% owned by such Lender or its parent company wherever located) to or for the credit or the account of any Credit Party either Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Section 3.12 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Promus Hotel Corp), Credit Agreement (Promus Hotel Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an any Event of Default and Default, to the commencement of remedies described in Section 9.2fullest extent permitted by law, each Lender is hereby authorized by the Obligors at any time and or from time to time, without presentmentwith notice to the Obligors and to each other Lender, demandthe Board, protest or other notice of any kind (all of which rights being hereby expressly waived)the Agent, the Collateral Agent and the Loan Administrator, to set-set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness Indebtedness at any time held or owing by such that Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Obligor against and on account of the obligations and liabilities of such Credit Party Obligor to that Lender under this Agreement, the Lenders hereunderSecond Lien Guaranty, under the Notes and the other Loan Documents, including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement, the Second Lien Guaranty, the Notes, the or any other Credit Documents or otherwiseLoan Document, irrespective of whether the Administrative Agent or the Lenders not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the Loan or any other amounts due hereunder shall have become due and payable pursuant to Section 7.2 and although such obligations, liabilities or claimssaid obligations and liabilities, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Loan Agreement (Us Airways Group Inc), Loan Agreement (Us Airways Group Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Bridge Credit Agreement (Navigant International Inc), Liquidity Facility Credit Agreement (Amerisource Distribution Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply (subject to Section 3.13) any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts or transfer agent accounts which represent obligations to third parties.
Appears in 2 contracts
Sources: Credit Agreement (United Dominion Realty Trust Inc), Credit Agreement (United Dominion Realty Trust Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.12 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Staff Leasing Inc), Credit Agreement (Staff Leasing Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Revolving Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (PNM Resources), Credit Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.28.2 hereof, each Lender Bank is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender Bank (including, without limitation, limitation branches, agencies or Affiliates of such Lender Bank wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Bank hereunder, under the Revolving Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Bank subsequent thereto. The Credit Parties hereby agree that any Person purchasing Amounts received by a participation in the Loans and Commitments hereunder Bank pursuant to an exercise of rights under this Section 11.3(c) or 3.8 may exercise all rights are subject to the sharing provisions of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.Section
Appears in 2 contracts
Sources: Credit Agreement (Cottontops Inc), Credit Agreement (Anvil Holdings Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender Lender, and each Affiliate of such Lender, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender or its Affiliates (including, without limitation, branches, branches or agencies or Affiliates of such Lender or its Affiliates wherever located) to or for the credit or the account of any Credit Party or any of its Subsidiaries against obligations and liabilities the Credit Party Obligations of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwiseParty, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, Credit Party Obligations may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Pulte Homes Inc/Mi/), Credit Agreement (Pulte Homes Inc/Mi/)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (Public Service Co of New Mexico)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each the Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such the Lender (including, without limitation, branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the NotesNote, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 11.3 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a the Lender hereunder.
Appears in 2 contracts
Sources: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Gorges Quik to Fix Foods Inc), Credit Agreement (Anchor Holdings Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an any Event of Default and Default, to the commencement of remedies described in Section 9.2fullest extent permitted by law, each Lender is hereby authorized by the Obligors at any time and or from time to time, without presentmentwith notice to the Obligors and to each other Lender, demandthe Board, protest or other notice of any kind (all of which rights being hereby expressly waived)the Agent, the Collateral Agent and the Loan Administrator, to set-set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness Indebtedness at any time held or owing by such that Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Obligor against and on account of the obligations and liabilities of such Credit Party Obligor to that Lender under this Agreement, the Lenders hereunderFirst Lien Guaranty, under the Notes and the other Loan Documents, including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement, the First Lien Guaranty, the Notes, the or any other Credit Documents or otherwiseLoan Document, irrespective of whether the Administrative Agent or the Lenders not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the Loan or any other amounts due hereunder shall have become due and payable pursuant to Section 7.2 and although such obligations, liabilities or claimssaid obligations and liabilities, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Loan Agreement (Us Airways Group Inc), Loan Agreement (Us Airways Group Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an and during the continuance of any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held by or owing by such to the Lender (including, without limitation, limitation branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against the obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the Notes, the other Credit Documents Note or otherwise, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that Lender agrees to notify the Borrower subsequent to any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of such set-off with respect to its participation interest as fully as if such Person were a Lender hereunderor application.
Appears in 2 contracts
Sources: Loan Agreement (RFS Hotel Investors Inc), Loan Agreement (RFS Hotel Investors Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 2 contracts
Sources: Multi Year Revolving Credit Agreement (Nucor Corp), 364 Day Revolving Credit Agreement (Nucor Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwiseEach of the Administrative Agent, each Lender, and not by way of limitation each Affiliate (including each branch office thereof) of any such rightsof them is hereby authorized, upon the occurrence without notice or demand (each of an Event of Default and the commencement of remedies described in Section 9.2which is hereby waived by each Credit Party), each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice time during the continuance of any kind (all Event of which rights being hereby expressly waived)Default and to the fullest extent permitted by Applicable Law, to set-set off and to appropriate and apply any and all deposits (whether general or special, time or demand, provisional or final) and any other indebtedness at any time held and other Indebtedness, claims or other obligations at any time owing by the Administrative Agent, such Lender (including, without limitation, branches, agencies or any of their respective Affiliates of such Lender wherever located) to or for the credit or the account of the Borrowers or any other Credit Party against any Obligation of any Credit Party against obligations now or hereafter existing, whether or not any demand was made under any Loan Document with respect to such Obligation and liabilities even though such Obligation may be unmatured. No Lender shall exercise any such right of such Credit Party to setoff without the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective prior consent of whether the Administrative Agent or the Lenders Required Lenders. Each of the Administrative Agent and each L▇▇▇▇▇ agrees promptly to notify the Borrowers and the Administrative Agent after any such setoff and application made by such Lender or its Affiliates; provided, however, that the failure to give such notice shall have made not affect the validity of such setoff and application. The rights under this Section 12.2 are in addition to any demand hereunder other rights and although such obligationsremedies (including other rights of setoff) that the Administrative Agent, liabilities or claimsthe Lenders, or any of themtheir Affiliates and the other Secured Parties, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhave.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Stone Point Credit Corp), Revolving Credit Agreement (Stone Point Credit Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders Lenders, shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender ▇▇▇▇▇▇ subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Term Loan Agreement (Public Service Co of New Mexico)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Revolving Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.such
Appears in 1 contract
Right of Set-off. In addition to any rights now or ---------------- hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender (and each of its Affiliates) is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which such rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or specialspecific) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, under the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) 2.05(c), 3.13 or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.10.03
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and acceleration of the commencement of remedies described in Section 9.2Obligations hereunder, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (Pediatric Services of America Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.210.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party or any of its Subsidiaries against obligations and liabilities Credit Party Obligations of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwiseParty, irrespective of whether the an Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, Credit Party Obligations may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c12.3(e) or 3.8 Section 4.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such the Credit Party Parties to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or 77 unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. Each of the Administrative Agent and the Lenders acknowledges that a portion of the deposits and other funds of the Credit Parties and their Subsidiaries held in accounts with the Administrative Agent and the Lenders, if any, may consist of funds owned by one or more Affiliated Practices but held by the Credit Parties and their Subsidiaries on behalf of such Affiliated Practice(s).
Appears in 1 contract
Sources: Credit Agreement (Orthodontic Centers of America Inc /De/)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.2 of the Loan Agreement, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Guarantor against obligations and liabilities of such Credit Party the Guarantor to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Guarantor hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.8 or 11.3(d) or 3.8 of the Loan Agreement may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderthereunder.
Appears in 1 contract
Sources: Term Loan Agreement (Public Service Co of New Mexico)
Right of Set-off. (a) In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.27.02, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.8.05
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, the L/C Issuer and each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by the L/C Issuer or such Lender (including, without limitation, branches, agencies or Affiliates of the L/C Issuer or such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the L/C Issuer and the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent Agent, the L/C Issuer or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-set off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of the L/C Issuer or such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-set off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be 119 126 contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) ), 2.5, 2.6 or 3.8 2.7 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.
Appears in 1 contract
Sources: Credit Agreement (Us Can Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Working Capital Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set- off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Working Capital Lender (including, without limitation, limitation branches, agencies or Affiliates of such Working Capital Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Working Capital Lenders hereunder, under the Working Capital Revolving Notes, the other Working Capital Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Working Capital Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender ▇▇▇▇▇▇ subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Working Capital Revolving Loans and Commitments Working Capital Revolving Loan Committed Amount hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Working Capital Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (Chattem Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement and continuation of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments Commitment hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Term Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition ▇▇ ▇▇▇▇▇▇▇n to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender and the Issuer is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender or the Issuer (including, without limitation, limitation branches, agencies or Affiliates of such Lender or the Issuer wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to such Lender or the Lenders Issuer hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent such Lender or the Lenders Issuer shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender or the Issuer subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.03(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Debt Agreement (Railworks Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the applicable Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (PNM Resources Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Line of Credit Agreement (Cornerstone Realty Income Trust Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, the Borrower agrees that upon the occurrence and during the continuance of an Event of Default and the commencement of the remedies described in Section 9.28.02 hereof, each Lender Bank is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender Bank (including, without limitation, limitation branches, agencies or Affiliates of such Lender Bank wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Bank hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Bank subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.03(c) or 3.8 Section 2.20. may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender Bank hereunder. The Administrative Agent and the Banks agree to give written notice to the appropriate Credit Party of any exercise of set-off, bankers' lien or other similar right; provided, however, that any such notice need not be given in advance of the exercise thereof.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.212.1 or 12.2, each Lender holder of Notes is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender holder (including, without limitation, branches, agencies or Affiliates of such Lender holder wherever located) to or for the credit or the account of any Credit Party Obligor against obligations and liabilities of such Credit Party Obligor to the Lenders hereunder, holders of the Notes under this Agreement and the Notes, the other Credit Financing Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders holders of Notes shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender holder subsequent thereto. The Credit Parties Each holder of Notes hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect effected pursuant to its participation interest this Section 22.9 shall be subject to the terms of the Intercreditor Agreement and, if the Intercreditor Agreement shall no longer be in effect, shall be shared among all holders of Notes at the time outstanding in proportion, as fully nearly as if such Person were a Lender hereunderpracticable, to the respective unpaid principal amounts thereof not theretofore prepaid.
Appears in 1 contract
Sources: Note Purchase Agreement (Ryans Family Steakhouses Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement and continuation of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender ▇▇▇▇▇▇ subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments Commitment hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Term Loan Credit Agreement
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2, each the Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such the Lender (including, without limitation, branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders Lender hereunder, under the NotesNote, the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans Loan and Commitments Commitment hereunder pursuant to Section 11.3(c10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Loan Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Term Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Supplemental Credit Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Supplemental Credit Lender (including, without limitation, limitation branches, agencies or Affiliates of such Supplemental Credit Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Supplemental Credit Lenders hereunder, under the Term Loan Notes, the other Supplemental Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Supplemental Credit Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Term Loans and Commitments the Term Loan Committed Amount hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Supplemental Credit Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (Chattem Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (Railworks Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, under the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set off, if made, shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any a Credit Party against obligations and liabilities of such a Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each Credit Parties Party hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c14.3(c) or 3.8 and whose participation has been disclosed to the Borrower may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held by or owing by such to the Lender (including, without limitation, limitation branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against the obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the Notes, the other Credit Documents Note or otherwise, . irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that Lender agrees to notify the Borrower subsequent to any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of such set-off with respect to its participation interest as fully as if such Person were a Lender hereunderor application.
Appears in 1 contract
Sources: Loan Agreement (Brassie Golf Corp)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement and continuation of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments Commitment hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Sources: Credit Agreement (Integrated Living Communities Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) 11.3(d), 3.7 or 3.8 3.15 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.
Appears in 1 contract
Sources: Credit Agreement (Medical Staffing Network Holdings Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any a Credit Party against obligations and liabilities of such a Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto, it being understood, however, that the right of set-off described in this Section 14.2 does not permit set-off against deposits or Indebtedness owing to a Canadian Borrower for obligations or liabilities of a U.S. Borrower. The Each Credit Parties Party hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c14.3(c) or 3.8 and whose participation has been disclosed to the Company may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In Subject to Section 3.12, in addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default which is continuing, unremedied and the commencement of remedies described in Section 9.2unwaived, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Foreign Currency Notes, under the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claimsclaims of such Lender to such Credit Party, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Foreign Currency Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Section 3.12 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, Upon the occurrence and not by way of limitation during the continuance of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender Bank is hereby authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived)to the fullest extent permitted by law, to set-off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies Bank or Affiliates an Affiliate of such Lender wherever located) Bank to or for the credit or the account of the Borrower or any Credit Party of its Subsidiaries against - 113 - 120 any and all of the obligations and liabilities of such Credit Party to the Lenders hereunder, Borrower or any of its Subsidiaries now or hereafter existing hereunder or under the Notes, the other Credit Documents or otherwiseany Collateral Document, irrespective of whether the Administrative Agent or the Lenders not such Bank shall have made any demand hereunder or under any Collateral Document and although such obligations, liabilities or claims, or any of them, obligations may be contingent or unmatured, . Such Bank agrees promptly to notify the Administrative Agent and the Borrower after any such set-off and application made by such Bank; provided, however, that the failure to give such notice shall be deemed to have been made immediately upon not affect the occurrence of an Event of Default even though such charge is made or entered on the books validity of such Lender subsequent theretoset-off and application. The Credit Parties hereby agree rights of the Banks under this Section are in addition to other rights and remedies (including without limitation, other rights of set-off) which the Banks may have. The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Person purchasing holder of a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Notes may exercise all rights of set-off or counterclaim and other rights with respect to its such participation interest as fully as if such Person holder of a participation were a Lender hereunderdirect creditor of the Borrower or any of its Subsidiaries in the amount of such participation.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.210.2 hereof, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of the Borrower or any other Credit Party against obligations and liabilities of such the Borrower or any other Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c12.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Participation Purchaser may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender ▇▇▇▇▇▇ subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply (subject to Section 3.13) any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts.
Appears in 1 contract
Sources: 364 Day Credit Agreement (United Dominion Realty Trust Inc)
Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender ▇▇▇▇▇▇ subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.
Appears in 1 contract