Common use of Indirect Holders Clause in Contracts

Indirect Holders. Each Borrower agrees that, if a Default hereunder shall have occurred and is continuing, then any Bank so purchasing such a participation (or direct interest) may exercise all rights of set-off, banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Bank were a direct holder of Loans or other amounts (as the case may be) owing to such Bank in the amount of such participation.

Indirect Holders. Each The Borrower agrees that, if a Default hereunder shall have occurred and is continuing, then any Bank so purchasing such a participation (or direct interest) may exercise all rights of set-off, banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Bank were a direct holder of Loans or other amounts (as the case may be) owing to such Bank in the amount of such participation.

Indirect Holders. Each The Borrower agrees that, if a Default hereunder shall have occurred and is continuing, then any Bank so purchasing such a participation (or direct interest) may exercise all rights of set-off, compensation, banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Bank were a direct holder of Loans or other amounts (as the case may be) owing to such Bank in the amount of such participation.