Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any Partner may be subject under this Agreement, the Partnership shall have (and each Partner hereby grants to the Partnership) a security interest in all funds distributable to said Partner to the extent of the amount of such obligation.
Security Interest and Right of Set-Off. As security for any withholding tax or other liability or obligation to which the Company may be subject as a result of any act or status of any Unitholder, or to which the Company may become subject with respect to the interest of any Unitholder, the Company shall have (and each Unitholder hereby grants to the Company) a security interest in all Distributable Assets distributable to such Unitholder to the extent of the amount of such withholding tax or other liability or obligation. The Company shall have a right of setoff against such distributions of Distributable Assets in the amount of such withholding tax or other liability or obligation. The Company may withhold distributions or portions thereof if it is required to do so by the Code or any other provision of federal, state or local tax or other law. Any amount withheld pursuant to the Code or any other provision of federal, state or local tax or other law with respect to any distribution to a Unitholder shall be treated as an amount distributed to such Unitholder for all purposes under this Agreement.
Security Interest and Right of Set-Off. As security for any withholding tax or other liability or obligation to which the Company may be subject as a result of any act or status of any Unitholder, or to which the Company may become subject with respect to the interest of any Unitholder, the Company shall have (and each Unitholder hereby grants to the Company) a security interest in all Distributable Assets distributable to such Unitholder to the extent of the amount of such withholding tax or other liability or obligation. The Company shall have a right of setoff against such distributions of Distributable Assets in the amount of such withholding tax or other liability or obligation, subject to the proviso in the first sentence of Section 4.3(f). The Company may withhold distributions or portions thereof if it is required to do so by the Code or any other provision of federal, state or local tax or other law. Any amount withheld pursuant to the Code or any other provision of federal, state or local tax or other law with respect to any distribution to a Unitholder shall be treated as an amount distributed to such Unitholder for all purposes under this Agreement.
Security Interest and Right of Set-Off. As security for any liability or obligation to which the Company may be subject as a result of any act or status of any Unitholder, or to which the Company may become subject with respect to the interest of any Unitholder, the Company shall have (and each Unitholder hereby grants to the Company) a security interest in all Distributable Assets distributable to such Unitholder to the extent of the amount of such liability or obligation. Whenever the Company is to pay any sum to any Unitholder or any Affiliate or related Person thereof pursuant to the terms of this Agreement, any amounts that such Unitholder or such Affiliate or related Person owes to the Company may be deducted from that sum before payment.
Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the General Partnership shall have (and each General Partner hereby grants to the Partnership) a security interest in their respective Interests of such General Partner in all funds distributable to said General Partner to the extent of the amount of such obligation.
Security Interest and Right of Set-Off. Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers hereunder against, all funds which either Borrower may maintain on deposit with Bank (with the exception of funds deposited in Borrowers' accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx accounts and All Saver Certificates), and Bank shall have a lien upon and a security interest in all property of either Borrower in Bank's possession or control which shall secure the Indebtedness of Borrowers.
Security Interest and Right of Set-Off. As security for any withholding tax or other liability or obligation to which the Partnership may be subject as a result of any act or status of any Limited Partner, or to which the Partnership may become subject with respect to the Interest of any Limited Partner, the Partnership shall have (and each Limited Partner hereby grants to the Partnership) a security interest in all Distributable Cash distributable to such Limited Partner to the extent of the amount of such withholding tax or other liability or obligation. The Partnership shall have a right of set-off against such distributions of Distributable Cash in the amount of such withholding tax or other liability or obligation. Any amount withheld pursuant to the Code or any other provision of federal, state or local tax or other law with respect to any distribution to a Partner shall be treated as an amount distributed to such Partner for all purposes under this Agreement.
Security Interest and Right of Set-Off. The Lender shall have a continuing security interest in, as well as the right to set-off the obligations of the Borrower hereunder against, all funds which the Borrower may maintain on deposit with the Bank (with the exception of funds deposited in the Borrower's accounts in trust for third parties or funds deposited in pension accounts, IRA's, Keogh accounts and All Saver Certificates), and the Lender shall have x xxxn upon and a security interest in all property of the Borrower in the Lender's possession or control which shall secure the Indebtedness of the Borrower to the Lender under this Agreement and the Revolving Note.
Security Interest and Right of Set-Off. IB hereby grants to FIMAT a security interest and lien in all monies, securities, futures contracts or other property which FIMAT may at any time be carrying for IB for any reason to offset and discharge IB’s liability to FIMAT pursuant to this Agreement.
Security Interest and Right of Set-Off. You agree to grant us a security interest in and a right of set off against any of your monies, deposit accounts, securities and other property now or hereafter held or received by us as security for all amounts that you may owe to us under this Agreement.
