Lien and Right of Setoff. Borrower grants to CNB a continuing lien for all Obligations of Borrower to CNB upon any and all moneys, securities and other property of Borrower and the proceeds thereof, now or hereafter held or received by or in transit to CNB from or for Borrower, whether for safekeeping, custody, pledge, transmission, collection or otherwise, and also upon any and all deposits (general or special) and credits of Borrower with, and any and all claims of Borrower against CNB at any time existing. Upon the occurrence of any Event of Default, CNB is authorized at any time and from time to time, without notice to Borrower or any other Person, to setoff, appropriate and apply any or all items hereinabove referred to against all Obligations of Borrower whether under this Agreement or otherwise, and whether now existing or hereafter arising.
Lien and Right of Setoff. The Borrower hereby gives the Lender a lien and right of setoff for all liabilities arising hereunder upon and against all the deposits, credits and property of Borrower now or hereafter in the possession, custody, safekeeping or control of the Lender or in transit to it. Lender may, upon the occurrence of an Event of Default@ without notice and without first resorting to any collateral which may now or hereafter secure this Note, apply or set off the same, or any part thereof, to any liability of the Borrower, even though unmatured.
Lien and Right of Setoff. Each Obligor hereby grants to Lender a lien, security interest and right of setoff as security for all liabilities and obligations to Lender or any other lender under the Loan and Security Agreement, whether now existing or hereafter arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Lender or any entity under common control with Lender, or in transit to any of them. At any time, without demand or notice, Lender may, if an event which constitutes or which with notice or lapse of time, or both, would constitute an Event of Default under this Note, the Loan and Security Agreement or any of the other Loan Documents has occurred and is continuing, set off the same or any part thereof and apply the same to any liability or obligation of any Obligor to Lender or any other lender under the Loan and Security Agreement even though unmatured and regardless of the adequacy of any other collateral securing the Loans. ANY AND ALL RIGHTS TO REQUIRE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE LOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY OBLIGOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.
Lien and Right of Setoff. Each Obligor hereby grants to Lender, Manufacturers and Traders Trust Company and any other Participant (as defined in the Loan and Security Agreement, a lien, security interest and right of setoff as security for all liabilities and obligations to Lender, Manufacturers and Traders Trust Company or any other Participant, whether now existing or hereafter arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Lender, Manufacturers and Traders Trust Company or any other Participant or any entity under common control with such party, or in transit to any of them. At any time, without demand or notice, Lender, Manufacturers and Traders Trust Company or any other Participant may, if an event which constitutes or which with notice or lapse of time, or both, would constitute an Event of Default under this Note, the Loan and Security Agreement or any of the other Loan Documents (as defined in the Loan and Security Agreement) has occurred, set off the same or any part thereof and apply the same to any liability or obligation of any Obligor even though unmatured and regardless of the adequacy of any other collateral securing the Loan. ANY AND ALL RIGHTS TO REQUIRE LENDER, MANUFACTURERS AND TRADERS TRUST COMPANY OR ANY OTHER PARTICIPANT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE LOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY OBLIGOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. The Obligors acknowledge that Manufacturers and Traders Trust Company is purchasing a participation interest in the Loans and the provisions of this paragraph are for the benefit of Manufacturers and Traders Trust Company, and as an inducement to Manufacturers and Traders Trust Company to purchase such participation interest.
Lien and Right of Setoff. Borrower hereby grants to Lender a continuing lien for all Obligations of Borrower to Lender upon any and all Open Accounts and the proceeds thereof, now or hereafter held or received by or in transit to Lender from or for Borrower, whether for safekeeping, custody, pledge, transmission, collection or otherwise, and also upon any and all deposits (general or special) and credits of Borrower with, and any and all claims of Borrower against Lender at any time existing. Upon the occurrence of any Event of Default, Lender is hereby authorized at any time and from time to time, without notice to Borrower or any other person, to setoff, appropriate and apply any or all items hereinabove referred to against all Obligations of Borrower whether under this Agreement or otherwise, and whether now existing or hereafter arising.
Lien and Right of Setoff. In addition to all liens upon, and right of setoff against the moneys, securities or other property of Guarantor given to Bank by law, Bank shall have a lien upon and right to setoff against all moneys, securities and other property of Guarantor now or hereafter in the possession of or on deposit with Bank, whether held in a general or special account or deposit, or for safekeeping or otherwise; and every such lien and right of setoff may be exercised without demand upon or notice to Guarantor. No lien or right to setoff shall be deemed to have been waived by any act or conduct on the part of Bank, or by any neglect to exercise such right of setoff or to enforce such lien, or by any delay in so doing; and every right of setoff and lien shall continue in full force and effect until such right of setoff or lien is specifically waived or released by an instrument in writing executed by Bank.
Lien and Right of Setoff. Borrower grants to CNB a continuing lien for all Obligations of Borrower to CNB upon any and all moneys, securities and other property of Borrower and the proceeds thereof, now or hereafter held or received by or in transit to CNB from or for Borrower, whether for safekeeping, custody, pledge, transmission, collection or otherwise, and also upon any and all deposits (general or special) and credits of Borrower with, and any and all claims of Borrower against CNB at any time existing; provided that any funds received, transmitted or held by Borrower or any Subsidiary on behalf of, or for the benefit of, any governmental agency, or for the benefit of any other person, pursuant to a service or payment processing agreement shall not constitute Collateral and Borrower does not grant, and CNB shall not assert, any lien or interest therein. Upon the occurrence of any Event of Default, CNB is authorized at any time and from time to time, without notice to Borrower or any other Person, to setoff, appropriate and apply any or all items hereinabove referred to against all Obligations of Borrower whether under this Agreement or otherwise, and whether now existing or hereafter arising.
Lien and Right of Setoff. Mortgagor hereby gives the Mortgagee a lien and right of setoff for all of Mortgagor's liabilities hereunder upon and against all deposits, credits, and property of Mortgagor and Mortgagor's endorsers or guarantors other than the Premises and any other collateral of Mortgagor now or hereafter in possession or control of Mortgagee or in transit to it. Mortgagee may, at any time after an Event of Default has occurred and continued beyond any applicable notice and cure period, apply the same or any part thereof to any liability of Mortgagor to Mortgagee even though un-matured.
Lien and Right of Setoff. Borrower hereby grants to CNB a continuing lien for all Obligations of Borrower to CNB upon any and all moneys, securities and other property of Borrower
