Common use of Set-Off Generally Clause in Contracts

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 10 contracts

Samples: Credit Agreement and Guaranty (BioXcel Therapeutics, Inc.), Credit Agreement (Tpi Composites, Inc), Credit Agreement and Guaranty and Revenue Interest Financing Agreement (Impel Pharmaceuticals Inc)

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Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 9 contracts

Samples: Forbearance Agreement (Icagen, Inc.), Forbearance Agreement (Icagen, Inc.), Credit Agreement (Icagen, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 7 contracts

Samples: Term Loan Agreement (Sanara MedTech Inc.), Term Loan Agreement (Alignment Healthcare, Inc.), Loan Agreement (NanoString Technologies Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 5 contracts

Samples: Credit Agreement and Guaranty (Allurion Technologies, Inc.), Credit Agreement and Guaranty (Allurion Technologies Holdings, Inc.), Credit Agreement and Guaranty (Xeris Biopharma Holdings, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 4 contracts

Samples: Term Loan Agreement (Correvio Pharma Corp.), Credit Agreement and Guaranty (Aquestive Therapeutics, Inc.), Term Loan Agreement (Cardiome Pharma Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 4 contracts

Samples: Credit Agreement (Pear Therapeutics, Inc.), Credit Agreement (Pear Therapeutics, Inc.), Credit Agreement (Thimble Point Acquisition Corp.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their respective Affiliates is are hereby authorized at any time and from time to time, to the fullest extent permitted by lawLaw, 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 Indebtedness at any time owing by the Administrative Agent, any Lender and any of their Lenders or such Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person the Lenders shall have made any demand and although such obligations Obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off set‑off and application; , provided that the failure to give such notice shall not affect the validity of such set-off set‑off and application. The rights of the Administrative Agent, the Lenders and each of their respective Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-offset‑off) that such Persons the Lenders and their respective Affiliates may have.

Appears in 3 contracts

Samples: Credit Agreement and Guaranty (Biodesix Inc), Credit Agreement and Guaranty (Biodesix Inc), Credit Agreement (Biodesix Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and or any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations (other than Warrant Obligations), whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; provided that provided, that, the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 2 contracts

Samples: Term Loan Agreement (NeuroPace Inc), Term Loan Agreement (NeuroPace Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.. 164703839 v7

Appears in 1 contract

Samples: Loan Agreement (Dynavax Technologies Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 Indebtedness at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Loan Agreement (Omeros Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 or obligations at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Nevro Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off set‑off and application; provided that the failure to give such notice shall not affect the validity of such set-off set‑off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-offset‑off) that such Persons may have.

Appears in 1 contract

Samples: Term Loan Agreement (Alignment Healthcare, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, each of the Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees The Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Term Loan Agreement (Axogen, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their Affiliates Noteholders is hereby authorized at any time and from time to time, to the fullest extent permitted by lawLaw, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other indebtedness obligations (in whatever currency) at any time owing by the Administrative Agent, any Lender and any of their Affiliates Noteholder to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees to promptly to notify the Borrower Issuer after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates Noteholders under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Notes Purchase Agreement and Guaranty (MeiraGTx Holdings PLC)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 or obligations at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor Loan Party against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 2.14 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (NanoString Technologies Inc)

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Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, each of the Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees The Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.. (b)

Appears in 1 contract

Samples: Term Loan Agreement (Axogen, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 ‎4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Athenex, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by lawLaw, 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 obligations at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set set-off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Apyx Medical Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.. (b)

Appears in 1 contract

Samples: Credit Agreement (Xeris Biopharma Holdings, Inc.)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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, in whatever currency) at any time held and other indebtedness at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmaturedcontingent or unmatured or owed to an Affiliate of such Lender. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Vapotherm Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the 4882-5123-7900 v.12 Borrower after any such set-off and application; provided that the failure to give such notice shall 4882-5123-7900 v.12 not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement (Impel Pharmaceuticals Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the -44- 4882-5123-79004861-6868-3896 v.123 Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Credit Agreement (Impel Pharmaceuticals Inc)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 Indebtedness at any time owing by the Administrative Agent, any Lender 137168310 v21 and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; , provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Loan Agreement (Omeros Corp)

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, the each of Administrative Agent, each of the Lenders Lender and each of their 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 the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees Administrative Agent and each Lender agree promptly to notify the Borrower after any such set-off and application; provided provided, that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders each Lender and each of their Affiliates under this Section 4.03 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

Appears in 1 contract

Samples: Loan Agreement (Treace Medical Concepts, Inc.)

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