SECURITY; SET-OFF. Regardless of the adequacy of any Collateral, during the continuance of any Event of Default, any deposits (general or specific, time or demand, provisional or final, regardless of currency, maturity, or the branch of where such deposits are held) or other sums credited by or due from any of the Lenders to any of the Guarantors and any securities or other property of the Guarantors in the possession of such Lender may be applied to or set off against the payment of Liabilities and any and all other liabilities, direct, or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, of the Guarantors to the Lenders. Each Lender, by its acceptance of this Guaranty, hereby agrees that any payment received by Lender hereunder shall be subject to the terms and conditions set forth in Section 16-12 of the Loan Agreement.
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SECURITY; SET-OFF. Regardless of the adequacy of any Collateral, during the continuance of any Event of Default, any deposits (general or specific, time or demand, provisional or final, regardless of currency, maturity, or the branch of where such deposits are held) or other sums credited by or due from any of the Lenders to any of the Guarantors and any securities or other property of the Guarantors in the possession of such Lender may be applied to or set off against the payment of Liabilities and any and all other liabilities, direct, or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, of the Guarantors to the Lenders. Each Lender, by its acceptance of this Guaranty, hereby agrees that any payment received by Lender hereunder shall be subject to the terms and conditions set forth in Section 1612-12 11 of the Loan Agreement.
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