Common use of Set-Off Generally Clause in Contracts

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, each of Administrative Agent, each 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 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. Administrative Agent and each Lender agree promptly to notify 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 Administrative Agent, each Lender and each of their Affiliates under this Section 4.04 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have. Notwithstanding the provisions of this Section 4.04, if at any time the Administrative Agent, any Lender or any of their respective Affiliates maintains one or more deposit accounts for any Obligor into which Medicare and/or Medicaid receivables are deposited, such Person shall waive the right of setoff set forth herein.

Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default, each of the Administrative Agent, each Lender 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, in whatever currency) at any time held and other indebtedness obligations (in whatever currency) at any time owing owing, by the Administrative Agent, any such Lender and or any of their Affiliates Affiliates, to or for the credit or the account of any Obligor against any and all of the ObligationsObligations now or hereafter existing under this Agreement or any other Loan Document to the Administrative Agent, such Lender or any of their Affiliates, whether or not such Person shall have made any demand and although such obligations may be unmaturedcontingent or unmatured or are owed to an Affiliate different from the Affiliate holding such deposit or obligated on such indebtedness. Administrative Agent and each Lender agree Any Person exercising rights of set-off hereunder agrees 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, each Lender and each of their Affiliates under this Section 4.04 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have. Notwithstanding the provisions of this Section 4.04, if at any time the Administrative Agent, any Lender or any of their respective Affiliates maintains one or more deposit accounts for any Obligor into which Medicare and/or Medicaid receivables are deposited, such Person shall waive the right of setoff set forth herein.