Common use of Bank’s Right of Setoff Clause in Contracts

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower grants to the Bank a security interest in, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities of the Borrower. This right of setoff may be exercised at any time and from time to time, and without prior notice to the Borrower. This security interest and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will not be a waiver of the right to exercise this right of setoff or enforce this security interest. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "Accounts" means any and all accounts and deposits of the Borrower (whether general, special, time, demand, provisional or final) at any time held by the Bank (including all Accounts held jointly with another, but excluding any IRA or Kcogh Account, or any trust Account in which a security interxxx would be prohibited by law); (b) the term "Securities and Other Property" means any and all securities and other property of the Borrower in the custody, possession or control of the Bank (other than property held by the Bank in a fiduciary capacity); and (c) the term "Bank Debt" means all indebtedness at any time owing by the Bank, to or for the credit or account of the Borrower.

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower The Guarantor grants to the Bank a security interest in, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities of the BorrowerBorrower and against all obligations of the Guarantor under this Guaranty. This Subject to applicable law, this security interest and right of setoff may be exercised at any time and from time to time, and without prior notice to the BorrowerGuarantor. This security interest and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will not be a waiver of the right to exercise this right of setoff or enforce this security interestsetoff. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "“Accounts" ” means any and all accounts and deposits of the Borrower Guarantor (whether general, special, time, demand, provisional or final) ), in U.S. dollars or any other currency, regardless of whether such accounts or deposits are then due to the Guarantor, at any time held by the Bank or any Lending Installation (as defined below) (including all Accounts held jointly with another, but excluding any IRA XXX or Kcogh Xxxxx Account, or any trust or other type of Account in which a security interxxx right of setoff would be prohibited by law); (b) the term "“Securities and Other Property" ” means any and all securities and other property of the Borrower Guarantor in the custody, possession or control of the Bank or any Lending Installation (other than property held by the Bank or any Lending Installation in a fiduciary capacity); and (c) the term "“Bank Debt" ” means all indebtedness at any time owing by the Bank, Bank or any Lending Installation to or for the credit or account of the BorrowerGuarantor.

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower Guarantor grants to the Bank a security interest inin the Accounts, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities of the BorrowerBorrower and all obligations of the Guarantor under this Guaranty. This right of setoff may be exercised at any time and from time to time, and without prior notice to the BorrowerGuarantor. This security interest in the Accounts and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will not be a waiver of the right to exercise this right of setoff or enforce this security interestinterest in the Accounts. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "Accounts" means any and all accounts and deposits of the Borrower Guarantor (whether general, special, time, demand, provisional or final) at any time held by the Bank (including all Accounts held jointly with another, but excluding any IRA XXX or Kcogh Xxxxx Account, or any trust Account in which a security interxxx interest would be prohibited by law); (b) the term "Securities and Other Property" means any securities entitlements, securities accounts, investment property, financial assets and all securities and other property of the Borrower Guarantor in the custody, possession or control of the Bank Bank, JPMorgan Chase & Co. and their respective subsidiaries and affiliates (other than property held by the Bank in a fiduciary capacity); and (c) the term "Bank Debt" means all indebtedness at any time owing by the Bank, Bank to or for the credit or account of the BorrowerGuarantor and any claim of the Guarantor (whether individual, joint and several (solidary) or otherwise) against the Bank now or hereafter existing.

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower Guarantor grants to the Bank a security interest inin the Accounts, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities and all obligations of the BorrowerGuarantor under this Guaranty. This right of setoff may be exercised at any time and from time to time, and without prior notice to the BorrowerGuarantor. This security interest in the Accounts and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured or un-matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will shall not be a waiver of the right to exercise this the right of setoff or to enforce this the security interestinterest in the Accounts. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "“Accounts" ” means any and all accounts and deposits of the Borrower Guarantor (whether general, special, time, demand, provisional or final) at any time held by the Bank (including all Accounts held jointly with another, but excluding any IRA XXX or Kcogh Xxxxx Account, or any trust Account in which a security interxxx interest would be prohibited by law); (b) the term "“Securities and Other Property" ” means any securities entitlements, securities accounts, investment property, financial assets and all securities and other property of the Borrower Guarantor in the custody, possession or control of the Bank Bank, JPMorgan Chase & Co. and their respective subsidiaries and affiliates (other than property held by the Bank in a fiduciary capacity); and (c) the term "“Bank Debt" ” means all indebtedness at any time owing by the Bank, Bank to or for the credit or account of the BorrowerGuarantor and any claim of the Guarantor (whether individual, joint and several or otherwise) against the Bank now or hereafter existing.

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower each Guarantor grants to the Bank a security interest inin the Accounts, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities of the BorrowerBorrower and all obligations of such Guarantor under this Guaranty. This right of setoff may be exercised at any time and from time to time, and without prior notice to the Borrowera Guarantor. This security interest in the Accounts and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will not be a waiver of the right to exercise this right of setoff or enforce this security interestinterest in the Accounts. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "“Accounts" ” means any and all accounts and deposits of the Borrower each Guarantor (whether general, special, time, demand, provisional or final) at any time held by the Bank (including all Accounts held jointly with another, but excluding any IRA or Kcogh AccountIRX xr Kexxx Xccount, or any trust Account in which a security interxxx interest would be prohibited by law); (b) the term "“Securities and Other Property" ” means any securities entitlements, securities accounts, investment property, financial assets and all securities and other property of the Borrower each Guarantor in the custody, possession or control of the Bank Bank, JPMorgan Chase & Co. and their respective subsidiaries and affiliates (other than property held by the Bank in a fiduciary capacity); and (c) the term "“Bank Debt" ” means all indebtedness at any time owing by the Bank, Bank to or for the credit or account of each Guarantor and any claim of each Guarantor (whether individual, joint and several or otherwise) against the BorrowerBank now or hereafter existing.

Bank’s Right of Setoff. In addition to the Collateral, if any, the Borrower grants to the Bank a security interest in, and the Bank is authorized to setoff and apply, all Accounts, Securities and Other Property, and Bank Debt against any and all Liabilities of the Borrower. This right of setoff may be exercised at any time and from time to timetime after default by Borrower, and without prior notice to the Borrower. This security interest and right of setoff may be enforced or exercised by the Bank regardless of whether or not the Bank has made any demand under this paragraph or whether the Liabilities are contingent, matured, or unmatured. Any delay, neglect or conduct by the Bank in exercising its rights under this paragraph will not be a waiver of the right to exercise this right of setoff or enforce this security interest. The rights of the Bank under this paragraph are in addition to other rights the Bank may have in the Related Documents or by law. In this paragraph: (a) the term "Accounts" means any and all accounts and deposits of the Borrower (whether general, special, time, demand, provisional or final) at any time held by the Bank (including all Accounts held jointly with another, but excluding any IRA or Kcogh Keogh Account, or any trust Account xxx truxx Xxcount in which a security interxxx interest would be prohibited by law); (b) the term "Securities and Other Property" means any and all securities and other property of the Borrower in the custody, possession or control of the Bank (other than property held by the Bank in a fiduciary capacity); and (c) the term "Bank Debt" means all indebtedness at any time owing by the Bank, to or for the credit or account of the Borrower.