Common use of Right of Set Clause in Contracts

Right of Set. off. Each Obligor agrees that, in addition to (and without limitation of) any right of set-off, banker's lien or counterclaim Lender may otherwise have, Lender shall be entitled, at Lender's option (to the fullest extent permitted by law), to set off and apply any deposit (general or special, time or demand, provisional or final), or other indebtedness, held by Lender for the credit or account of such Obligor at any of its offices, in Dollars or in any other currency, against any principal of or interest on any of the Loan or any other amount payable to Lender hereunder, that is not paid by the due date and the expiration of any applicable cure period (regardless of whether such deposit or other indebtedness is then due to such Obligor), in which case Lender shall promptly notify such Obligor thereof, provided that Lender's failure to give such notice shall not affect the validity thereof.

Right of Set. off. Each Obligor agrees that, in addition to (and without limitation of) any right of set-off, banker's bankers' lien or counterclaim a Lender may otherwise have, each Lender shall have the right and be entitled, at Lender's option (to the fullest extent permitted by law)its option, to set off and apply any deposit offset (general or special, time or demand, provisional or final), or other indebtedness, i) balances held by Lender it for the credit or account of such Obligor or any Subsidiary at any of its offices, in Dollars or in any other currency, and (ii) amounts due and payable to such Lender under any Hedging Agreement, against any principal of or interest on any of the Loan such Lender's Loans, or any other amount due and payable to such Lender hereunder, that which is not paid by the when due date and the expiration of any applicable cure period (regardless of whether such deposit or other indebtedness is balances are then due to such ObligorPerson), in which case Lender it shall promptly notify such Obligor the Borrower and the Administrative Agent thereof, provided that such Lender's failure to give such notice or to so consult shall not affect the validity thereof.

Right of Set. off. Each Obligor agrees that, in addition to (and without limitation of) any right of set-off, banker's lien or counterclaim a Lender may otherwise have, each Lender shall be entitled, at Lender's its option (to the fullest extent permitted by law), to set off and apply any deposit (general or special, time or demand, provisional or final), or other indebtedness, held by Lender it for the credit or account of such Obligor at any of its offices, in Dollars or in any other currency, against any principal of or interest on any of the Loan such Lender's Loans, Reimbursement Obligations or any other amount payable to such Lender hereunder, that is not paid by the due date and the expiration of any applicable cure period (regardless of whether such deposit or other indebtedness is then due to such Obligor), in which case Lender it shall promptly notify such Obligor and the Administrative Agent thereof, provided that such Lender's failure to give such notice shall not affect the validity thereof.