Common use of Set Off and Sharing of Payments Clause in Contracts

Set Off and Sharing of Payments. In addition to any rights now or hereafter granted under any Applicable Law and not by way of limitation of any such rights, during the continuance of any Event of Default, upon one (1) Business Day’s prior written notice to the Borrowers, the Purchaser is hereby authorized by the Borrowers at any time or from time to time, with reasonably prompt subsequent notice to the Borrowers (any prior or contemporaneous notice to the Borrowers being hereby expressly waived) to set off and to appropriate and to apply any and all (a) balances held by the Purchaser at its offices for the account of any Borrower (regardless of whether such balances are then due to such Borrower), and (b) other property at any time held or owing by the Purchaser or any Affiliate thereof to or for the credit or for the account of any Borrower, against and on account of any of the Obligations.

Set Off and Sharing of Payments. In addition to any rights now or hereafter granted under any Applicable Law applicable law and not by way of limitation of any such rights, upon the occurrence and during the continuance of any Event of Default, upon one (1) Business Day’s prior written notice to the Borrowers, the Purchaser each Lender is hereby authorized by the Borrowers Borrower at any time or from time to time, with reasonably prompt subsequent notice to the Borrowers Borrower or to any other Person (any prior or contemporaneous notice to the Borrowers being hereby expressly waived) to set off and to appropriate and to apply any and all (aA) balances held by the Purchaser such Lender or such holder at any of its offices for the account of Borrower or any Borrower of its Subsidiaries (regardless of whether such balances are then due to such BorrowerBorrower or its Subsidiaries), and (bB) other property at any time held or owing by the Purchaser such Lender or any Affiliate thereof such holder to or for the credit or for the account of any Borrower, against and on account of Borrower or any of the Obligations.its Subsidiaries against and

Set Off and Sharing of Payments. In addition to any rights now or ------------------------------- hereafter granted under any Applicable Law applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, upon one (1) Business Day’s prior written notice to the Borrowers, the Purchaser Lender is hereby authorized by the Borrowers Borrower at any time or from time to time, with reasonably prompt subsequent notice to the Borrowers Borrower (any prior or contemporaneous notice to the Borrowers being hereby expressly waived) to set off and to appropriate and to apply any and all (aA) balances held by the Purchaser Lender at any of its offices for the account of any Borrower (regardless of whether such balances are then due to such Borrower), and (bB) other property at any time held or owing by the Purchaser or any Affiliate thereof Lender to or for the credit or for the account of any Borrower, against and on account of any of the Obligations.