Common use of Right of Set-Off; Adjustments Clause in Contracts

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.

Appears in 17 contracts

Samples: Credit Agreement (Highwoods Realty LTD Partnership), Credit Agreement (Benihana Inc), Credit and Guaranty Agreement (Amerigroup Corp)

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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.

Appears in 8 contracts

Samples: Credit Agreement (Healthtronics Surgical Services Inc), Credit Agreement (U S Restaurant Properties Inc), Credit Agreement (Healthtronics Surgical Services Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party Borrower against any and all of the obligations of such Person any Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the applicable Borrower 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 11.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 7 contracts

Samples: Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 12.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 5 contracts

Samples: Credit Agreement (Kellwood Co), Security Agreement (Ameristeel Finance Inc), Credit Agreement (Rexall Sundown Inc)

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 Revolving Notes, if any, 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.

Appears in 4 contracts

Samples: Pledge Agreement (Lincare Holdings Inc), Pledge Agreement (Lincare Holdings Inc), Pledge Agreement (Lincare Holdings Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 4 contracts

Samples: Credit Agreement (CentraCore Properties Trust), Credit Agreement (Correctional Properties Trust), Security Agreement (Ameristeel Corp)

Right of Set-Off; Adjustments. (a) 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 the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower after any such set-off and application made by such Lender; providedPROVIDED, howeverHOWEVER, 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 section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 3 contracts

Samples: Credit Agreement (Golf Trust of America Inc), Credit Agreement (Golf Trust of America Inc), Credit Agreement (Golf Trust of America Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower after any such set-off and application made by such Lender; providedPROVIDED, howeverHOWEVER, 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 SECTION 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 3 contracts

Samples: Credit Agreement (Gencorp Inc), Credit Agreement (Correctional Properties Trust), Credit Agreement (Omnova Solutions Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of DefaultDefault under Section 9.1(a), 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, other than payroll or trust accounts) 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 then due and owing under this Credit Agreement, under the Notes, Agreement or under any other Credit Document or otherwiseDocument, irrespective of whether such Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmaturedthereunder. Each Lender agrees promptly to notify in writing any affected Credit Party after any such set-off and application made by such Lender; providedPROVIDED, howeverHOWEVER, 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.

Appears in 3 contracts

Samples: Credit Agreement (Mg Waldbaum Co), Credit Agreement (Mg Waldbaum Co), Credit Agreement (Michael Foods Inc /Mn)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) 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-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.

Appears in 3 contracts

Samples: Credit Agreement (Snyder Communications Inc), Credit Agreement (Ventiv Health Inc), Credit Agreement (Friedmans Inc)

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 (subject to the terms and conditions of the Intercreditor Agreement) 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.

Appears in 2 contracts

Samples: Credit Agreement (U S Restaurant Properties Inc), Term Loan Credit Agreement (U S Restaurant Properties Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its domestic 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 domestic 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.

Appears in 2 contracts

Samples: Credit Agreement (Take Two Interactive Software Inc), Credit Agreement (Take Two Interactive Software Inc)

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 Loan 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 10.23 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 2 contracts

Samples: Security Agreement (Renal Care Group Inc), Security Agreement (Renal Care Group Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of DefaultDefault under Section 9.1(a), 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, other than payroll or trust accounts) 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 then due and owing under this Credit Agreement, under the Notes, Agreement or under any other Credit Document or otherwiseDocument, irrespective of whether such Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmaturedthereunder. Each Lender agrees promptly to notify in writing 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.

Appears in 2 contracts

Samples: Credit Agreement (Birds Eye Foods, Inc.), Credit Agreement (Agrilink Foods Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each the 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 the 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 the Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmatured. Each The Lender agrees promptly to notify any affected Credit Party after any such set-off and application made by such the 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 the Lender under this Section 11.2 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such the Lender may have.

Appears in 2 contracts

Samples: Credit Agreement (PRG Schultz International Inc), Credit Agreement (PRG Schultz International Inc)

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; providedPROVIDED, howeverHOWEVER, 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.

Appears in 2 contracts

Samples: Credit Agreement (Tractor Supply Co /De/), Credit Agreement (Simonds Industries Inc)

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 Revolving 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.each

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

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 104 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; providedPROVIDED, howeverHOWEVER, 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.

Appears in 1 contract

Samples: Credit Agreement (Insight Health Services Corp)

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 Revolving 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.

Appears in 1 contract

Samples: Credit Agreement (Resortquest International Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this S-103 110 Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Uti Corp)

Right of Set-Off; Adjustments. (a) 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 the Company against any and all of the obligations of such Person the Company now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document Note or otherwiseNotes held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note or Notes and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Company 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 10.1 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Revolving Credit Agreement (Take Two Interactive Software Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrowers against any and all of the obligations of such Person the Borrowers now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although the payment of such obligations may be unmaturednot have been accelerated. Each Lender agrees promptly to notify any affected Credit Party the Borrowers 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.

Appears in 1 contract

Samples: Credit Agreement (Breed Technologies Inc)

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 Revolving 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.

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNotes held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Notes and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 11.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (V F Corp)

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, if any, 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.

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and ----------------------------- during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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-set- off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Roper Industries Inc /De/)

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 the Borrower against any and all of the obligations of such Person the Borrower 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 the Borrower 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 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Nordstrom Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although the payment of such obligations may be unmaturednot have been accelerated. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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.

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

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 Loan Agreement, under the Notes, under any other Credit Loan 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.

Appears in 1 contract

Samples: Loan Agreement (Aaipharma Inc)

Right of Set-Off; Adjustments. (a) 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 the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations obliga- tions may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Golf Trust of America Inc)

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 Revolving Notes, if any, 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.

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of DefaultDefault under Section 8.1(a), 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, other than payroll or trust accounts) 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 the Borrower against any and all of the obligations of such Person now or hereafter existing then due and owing under this Credit Agreement, under the Notes, Agreement or under any other Credit Document or otherwiseDocument, irrespective of whether such Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmaturedthereunder. Each Lender agrees promptly to notify any affected Credit Party in writing the Borrower 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 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Birds Eye Foods, Inc.)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of DefaultDefault under Section 9.1(a), 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.

Appears in 1 contract

Samples: Credit Agreement (Vestar Sheridan Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrowers against any and all of the obligations of such Person the Borrowers now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNotes held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Notes and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrowers 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 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Pepsiamericas Inc)

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Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each the 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 the Lender (or any of its Affiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under the NotesNote, under any other Credit Document or otherwise, irrespective of whether such the Lender shall have made any demand under hereunder or thereunder and although such obligations may be unmaturedunmatured and regardless of the adequacy of any other collateral securing the Obligations. Each Credit Party hereby irrevocably waives any obligation that the Lender may have to any set-off based on the failure of the Lender to exercise any rights that it may have with respect to any other collateral prior to the exercise of any set-off. The Lender agrees promptly to notify any affected Credit Party the Borrower after any such set-off and application made by such the 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 the Lender under this Section 11.2 12.2 are in addition to other rights and remedies (including, without limitation, including other rights of set-off) that such the Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne Inc)

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 Tender Loan 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.

Appears in 1 contract

Samples: Credit Agreement (Vestar Sheridan Inc)

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-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.

Appears in 1 contract

Samples: Credit Agreement (National Equipment Services Inc)

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; providedPROVIDED, howeverHOWEVER, that the failure to 104 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.

Appears in 1 contract

Samples: Credit Agreement (National Equipment Services Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower in writing 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 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (P F Changs China Bistro Inc)

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.. 83 11.3

Appears in 1 contract

Samples: Credit Agreement (Rockford Corp)

Right of Set-Off; Adjustments. (a) Upon the 92 occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 12.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Catalina Marketing Corp/De)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of the Borrower or any Credit Party Crescent Guarantor 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-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.

Appears in 1 contract

Samples: Credit Agreement (Friedmans Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of DefaultDefault under Section 9.1(a), 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 104 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.

Appears in 1 contract

Samples: Credit Agreement (Cluett Peabody & Co Inc /De)

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.

Appears in 1 contract

Samples: Credit Agreement (Potlatch Corp)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party Borrower against any and all of the obligations of such Person any Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the applicable Borrower 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 12.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

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 NotesNote, 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 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Loan Agreement (Tractor Supply Co /De/)

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.

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

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-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.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Realty LTD Partnership)

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 97 -92- 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 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Westpoint Stevens Inc)

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 Revolving 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-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.

Appears in 1 contract

Samples: Credit Agreement (Delta Woodside Industries Inc /Sc/)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower and Administrative Agent 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 12.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

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.

Appears in 1 contract

Samples: Credit Agreement (Engineered Support Systems Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each Lender of the Lenders and the Collateral Agent (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 or Collateral Agent shall have made any demand under hereunder or thereunder and although such obligations may be unmatured. Each Lender of the Lenders and the Collateral Agent agrees promptly to notify any affected Credit Party after any such set-off and application made by such LenderLender or the Collateral Agent; 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 of the Lenders and the Collateral Agent under this Section 11.2 10.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender or the Collateral Agent may have.

Appears in 1 contract

Samples: Credit Agreement (PRG Schultz International Inc)

Right of Set-Off; Adjustments. Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its AffiliatesAffiliates in connection with Hedging Agreements) 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 AffiliatesAffiliates in connection with Hedging Agreements) 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; providedPROVIDED, howeverHOWEVER, 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.

Appears in 1 contract

Samples: Credit Agreement (Tripoint Global Communications Inc)

Right of Set-Off; Adjustments. (a) Upon the occurrence and during the continuance of any Event of Default, each Lender (and each of its Affiliatesaffiliates) 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 Affiliatesaffiliates) to or for the credit or the account of any Credit Party the Borrower against any and all of the obligations of such Person the Borrower now or hereafter existing under this Credit Agreement, under Agreement and the Notes, under any other Credit Document or otherwiseNote held by such Lender, irrespective of whether such Lender shall have made any demand under hereunder this 105 112 Agreement or thereunder such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify any affected Credit Party the Borrower 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 13.3 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender may have.

Appears in 1 contract

Samples: Credit Agreement (Uti Corp)

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