Common use of Additional Security; Right to Set-Off Clause in Contracts

Additional Security; Right to Set-Off. Any deposits or other sums at any time credited or due from Lenders and any Project Revenues, securities or other property of Borrower or any Subsidiary Guarantor in the possession of the Collateral Agent may at all times be treated as collateral security for the payment of the Loans and the Notes and all other obligations of Borrower to the Lenders under this Agreement and the other Financing Documents, and Borrower hereby pledges to the Collateral Agent for the benefit of the Lenders and grants the Collateral Agent a security interest and Lien in and to all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, the Collateral Agent and only the Collateral Agent, may execute or realize on the Lenders' security interest in any such deposits or other sums credited by or due from the Lenders to Borrower, and may apply any such deposits or other sums to or set them off against Borrower's obligations to Lenders under the Notes and this Agreement at any time after the occurrence and during the continuance of any Event of Default. 12.3

Appears in 1 contract

Samples: Financing Agreement (Central Vermont Public Service Corp)

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Additional Security; Right to Set-Off. Any deposits or other sums at any time credited or due from Lenders Lender and any Project Revenuessums, securities or other property of Borrower or any Subsidiary Guarantor in the possession of the Collateral Agent Lender may at all times be treated as collateral security for the payment of the Loans Term Loan and the Notes Note and all other obligations of Borrower to the Lenders Lender under this Agreement and the other Financing Documents, and Borrower hereby pledges to the Collateral Agent Lender for the benefit of the Lenders Lender and grants the Collateral Agent Lender a security interest and Lien in and to all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, the Collateral Agent Lender and only the Collateral AgentLender, may execute or realize on the Lenders' Lender’ security interest in any such deposits or other sums credited by or due from the Lenders Lender to Borrower, and may apply any such deposits or other sums to or set them off against Borrower's ’s obligations to Lenders Lender under the Notes Note and this Agreement at any time after the occurrence and during the continuance of any Event of Default. 12.3.

Appears in 1 contract

Samples: Loan Agreement (Solarcity Corp)

Additional Security; Right to Set-Off. Any deposits or other sums at any time credited or due from Lenders Lender and any Project Revenues, securities or other property of Borrower or any Subsidiary Guarantor in the possession of the Collateral Agent Lender may at all times be treated as collateral security for the payment of amounts due with respect to the Loans Loan Facility and the Notes Note and all other obligations of Borrower to the Lenders Lender under this Agreement and the other Financing Credit Documents, and Borrower hereby pledges to the Collateral Agent Lender for the benefit of the Lenders Lender and grants the Collateral Agent Lender a security interest and Lien in and to all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, the Collateral Agent Lender and only the Collateral AgentONLY Lender, may execute or realize on the Lenders' Lender's security interest in any such deposits or other sums credited by or due from the Lenders Lender to Borrower, and may apply any such deposits or other sums to or set them off against Borrower's obligations to Lenders Lender under the Notes Note and this Agreement at any time after the occurrence and during the continuance of any Event of Default. 12.3.

Appears in 1 contract

Samples: Credit Agreement (GST Telecommunications Inc)

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Additional Security; Right to Set-Off. Any deposits or other sums at any time credited to or due from Lenders and any Project Revenues, securities or other property of Borrower or any Subsidiary Guarantor an Obligor in the possession of the Collateral any Agent or any Lender may at all times be treated as collateral security for the payment of the Loans, LC Loans and the Notes and all other obligations of Borrower the Obligors to the Lenders under this Credit Agreement and the other Financing Credit Documents, and Borrower each Obligor hereby pledges to the Collateral Administrative Agent for the benefit of the Lenders and grants the Collateral Administrative Agent a security interest and Lien in and to all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, the Collateral Administrative Agent and only the Collateral Administrative Agent, may execute or realize on the Lenders' security interest in any such deposits or other sums credited by to or due from the Lenders to Borroweran Obligor, and may apply any such deposits or other sums to or set them off against Borrower's such Obligor’s obligations to Lenders under the Notes and this Credit Agreement at any time after the occurrence and during the continuance of any Event of Default. 12.3Default following instruction from the Majority Lenders.

Appears in 1 contract

Samples: Management Services Agreement (Macquarie Infrastructure Corp)

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