Common use of Set-Off Generally Clause in Contracts

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing, by the Administrative Agent, such Lender or any of their Affiliates, to or for the credit or the account of any Obligor against any and all of the Obligations now or hereafter existing under this Agreement or any other Loan Document to the Administrative Agent, such Lender or any of their Affiliates, whether or not such Person shall have made any demand and although such obligations may be contingent or unmatured or are owed to an Affiliate different from the Affiliate holding such deposit or obligated on such indebtedness. Any Person exercising rights of set-off hereunder agrees promptly to notify the Borrower after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, each Lender and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Lawlaw, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) indebtedness at any time owing, owing by the Administrative Agent, such any Lender or and any of their Affiliates, Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations now or hereafter existing under this Agreement or any other Loan Document to the Administrative Agent, such Lender or any of their AffiliatesObligations, whether or not such Person shall have made any demand and although such obligations may be contingent or unmatured or are owed to an Affiliate different from the Affiliate holding such deposit or obligated on such indebtednessunmatured. Any Person exercising rights of set-off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; provided, provided that that, the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have. Notwithstanding the provisions of this Section 4.04, if at any time the Administrative Agent, any Lender or any of their respective Affiliates maintains one or more deposit accounts for any Obligor into which Medicare and/or Medicaid receivables are deposited, such Person shall waive the right of setoff set forth herein.