Common use of Lien and Set Off Clause in Contracts

Lien and Set Off. (a) The Bank shall have a lien on all assets (movable and immovable) of the Borrower and/or the Security Party deposited with, or in the possession, custody or control of the Bank or its nominee for as long as the Facility remains outstanding and/or are made available to the Borrower. The Bank may exercise any rights in relation to set-off, combination or consolidation of accounts in accordance with the Letter of Offer.