Bank's Right of Set-Off Sample Clauses

Bank's Right of Set-Off. Upon the occurrence of any Event of Default, Bank shall have the right to apply any or all of Borrower's and any Obligor's bank accounts or any other Property held by Bank against any Indebtedness of Borrower to Bank.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Bank's Right of Set-Off. Upon the occurrence of an Event of Default or of any condition, event or act which, with notice or lapse of time, or both, would constitute such an Event of Default, the Bank is hereby authorized at any time or from time to time, without notice to the Company, any Subsidiary or any other Person, any such notice being hereby expressly waived, to set off and to appropriate and apply any and all deposits (generally or special) and any other Indebtedness or property at any time held or owing by the Bank to or for the credit or the account of the Company or any Subsidiary, whether or not related to this Agreement or any transaction or occurrence hereunder, against and on account of any and all obligations and liabilities of the Company or any Subsidiary to the Bank, including (without limitation) all claims of any nature or description arising out of or connected with this Agreement and/or either of the Notes held by the Bank, irrespective of whether or not the Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, shall be contingent or unmatured. In addition, as security for any and all Indebtedness and other liabilities of the Company or any Subsidiary to the Bank, whether direct or contingent, now existing or hereafter arising, the Bank is hereby granted a lien and security interest in all property of the Company or any Subsidiary held by the Bank, including, without limitation, all property of every description, now or hereafter in the possession or custody of or in transit to the Bank for any purpose, including safekeeping, collection or pledge, for the account of the Company or any Subsidiary, or as to which the Company or any Subsidiary may have any right or power. The rights and/or remedies granted to the Bank under this Section 9.11 shall be in addition to, and not in substitution for, any rights of set-off and banker's lien, to which the Bank may otherwise be entitled.
Sample 1
Bank's Right of Set-Off. (a) To the fullest extent permitted by law, upon the occurrence and during the continuance of any Event of Default, the Bank is hereby authorized at any time and from time to time, without notice to the Guarantors (any such notice being expressly waived by the Guarantors), to set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by the Bank to or for the credit or the account of the Guarantors, or either of them, against any of the obligations of the Guarantors now or hereafter existing under this Guaranty Agreement, irrespective of whether the Bank shall have made any demand hereunder or thereunder and although such obligations may be unmatured.
Sample 1
Bank's Right of Set-Off. Upon the acceleration of the maturity of the Bonds or the occurrence of any Event of Default, the Bank is hereby irrevocably authorized, at any time and from time to time without notice to the Guarantor, any such notice being expressly waived, to set off, appropriate and apply any amount, including any deposit or claim, whether or not matured, owing by the Bank to or for the account of the Guarantor, or any part thereof, against the obligations of the Guarantor to the Bank hereunder. The rights of the Bank under this Section are in addition to any other rights and remedies that the Bank may have.
Sample 1
Bank's Right of Set-Off. If an Event of Default shall occur, the Bank shall have the right, in addition to all other rights and remedies available to it, to setoff against and to appropriate and apply to the unpaid balance of the Guaranteed Obligations any debt owing to, and any other funds held in any manner for the account of, any Guarantor by the Bank, including without limitation all funds in all deposit accounts (general or special) now or hereafter maintained by any Guarantor with the Bank. Such right shall exist whether or not the Bank shall have made any demand under this Guaranty or any other Loan Document and whether or not the Guaranteed Obligations or such participation are matured or unmatured. Each Guarantor hereby confirms the foregoing arrangements and the Bank's right of banker's lien and set-off and nothing in this Guaranty or any other Loan Document shall be deemed any waiver or prohibition of the Bank's right of banker's lien or setoff.
Sample 1
Bank's Right of Set-Off. The Borrower hereby grants to the Bank a lien on, and a Security Interest in, the deposit balances, accounts, items, trusts (as permitted by law), certificates of deposit and monies of the Borrower in the possession of or on deposit with the Bank, or any of its Affiliates to secure, and as collateral for, the payment and performance of the obligations. The Bank may at any time and from time to time, upon any Event of Default, without demand or notice, appropriate and set-off against and apply the same to the Obligations when and as due and payable.
Sample 1
Bank's Right of Set-Off. The Borrower agrees that any deposits or other sums at any time credited by or due from the Bank to the Borrower, or to any obligor or guarantor of any Obligations of the Borrower in the possession of the Bank, may at all times be held and treated as Collateral for any Obligations of the Borrower or any such obligor or guarantor to the Bank. The Bank may apply or set-off such deposits or other sums against said Obligations at any time after an event of default.
Sample 1
AutoNDA by SimpleDocs
Bank's Right of Set-Off. 11. The Bank shall be entitled to set-off any payment due from the Bank to the Customer against any amount due from the Customer to the Bank. The Customer authorises UOB to debit the Customer’s Accounts to pay the amount due and owing by the Customer to the Bank.
Sample 1

Related to Bank's Right of Set-Off

  • Right of Set-off Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01, each Lender and each of its 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) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender 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 each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have.

  • No Right of Set-Off The Trustee waives any right of set-off or any right, title, interest or claim of any kind that the Trustee may have against the Property held in the Trust Account. In the event the Trustee has a claim against the Company under this Agreement, including, without limitation, under Section 3(b), the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

  • Waiver of Right of Set-Off The Custodian hereby waives and relinquishes all contractual and common law rights of set-off to which it may now or hereafter be or become entitled with respect to any obligations of the Funds to the Custodian arising under this Agreement.

  • Right of Setoff If an Event of Default shall have occurred and be continuing, each Lender and each of its 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) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.

  • No Right of Setoff Neither party hereto nor any affiliate thereof may deduct from, set off, holdback or otherwise reduce in any manner whatsoever against any amounts such Persons may owe to the other party hereto or any of it affiliates any amounts owed by such other party or its affiliates to the first party or its affiliates.

  • Right to Set-Off If your Account balance becomes and remains negative, we can use the funds in any of your accounts with us to repay the negative balance in your Account without any further notice to or demand on you. Moreover, we have the right to set-off any liability, direct or contingent, past, present or future that you owe against any account you have with us. Further, you grant us a lien on and security interest in the funds on deposit in each of your account(s) as security for all of your liabilities and obligations to us, now or in the future.

  • Security Interest and Right of Set-Off As security for the performance of the respective obligations to which any Partner may be subject under this Agreement, the Partnership shall have (and each Partner hereby grants to the Partnership) a security interest in all funds distributable to said Partner to the extent of the amount of such obligation.

  • No Right to Set-Off The Company shall not be entitled to set off against amounts payable to the Executive hereunder any amounts earned by the Executive in other employment, or otherwise, after termination of his employment with the Company, or any amounts which might have been earned by the Executive in other employment had he sought such other employment.

  • Waiver of Set Off Each of the parties hereto hereby waives any right of setoff it may have or to which it may be entitled under this Agreement from time to time against the Administrative Agent, the Lenders, the Lender Agents or their respective assets.

  • Right of Set-Off; Adjustments Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its 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) at any time held and other indebtedness at any time owing by such Lender (or any of its Affiliates) to or for the credit or the account of any Credit Party against any and all of the obligations of such Person now or hereafter existing under this Credit Agreement, under the Notes, under any other Credit Document or otherwise, irrespective of whether such Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party after any such set-off and application made by such Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender under this Section 11.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Time is Money Join Law Insider Premium to draft better contracts faster.