Common use of Setoff Ratable Payments Clause in Contracts

Setoff Ratable Payments. 11.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 4 contracts

Samples: Credit Agreement (State Auto Financial Corp), Credit Agreement (State Auto Financial Corp), Credit Agreement (Roadway Corp)

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Setoff Ratable Payments. 11.1 12.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the any Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 2 contracts

Samples: Credit Agreement (Corrpro Companies Inc /Oh/), Credit Agreement (Corrpro Companies Inc /Oh/)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of ------ the Lenders or Issuing Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occursoccurs and is continuing, any and all deposits indebtedness from any Lender or Issuing Lender to any of the Borrowers or Subsidiary Obligors (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, such Issuing Lender and the other Obligations, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 2 contracts

Samples: Credit Agreement (Agribrands International Inc), Long Term Credit Agreement (Agribrands International Inc)

Setoff Ratable Payments. 11.1 10.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 2 contracts

Samples: Assignment Agreement (Duriron Co Inc), Credit Agreement (Pioneer Standard Electronics Inc)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the any Borrower becomes insolvent, however evidenced, or any Default or Unmatured Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the any Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Astec Industries Inc)

Setoff Ratable Payments. 11.1 SETOFFA. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default or Unmatured Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

Setoff Ratable Payments. 11.1 SETOFF11.1. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Secured Obligations owing to such Lender, whether or not the Secured Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Roundys Inc)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Assignment Agreement (Shaw Group Inc)

Setoff Ratable Payments. 11.1 SETOFF50 56 11.1. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Assignment Agreement (Osca Inc)

Setoff Ratable Payments. 11.1 SETOFFSection 10.1. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the a Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the a Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Cincinnati Financial Corp)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the such Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Cooper Cameron Corp)

Setoff Ratable Payments. 11.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender 45 52 or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Roadway Express Inc)

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Setoff Ratable Payments. 11.1 SETOFF9.1 Setoff. In addition to, and without limitation of, any rights of the ------ Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default or Unmatured Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Revolving Credit Agreement (Euronet Services Inc)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the such Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Revolving Credit Agreement (Richardson Electronics LTD/De)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Credit Agreement (Cooper Cameron Corp)

Setoff Ratable Payments. 11.1 12.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due.

Appears in 1 contract

Samples: Assignment Agreement (Firstmerit Corp /Oh/)

Setoff Ratable Payments. 11.1 SETOFF11.1. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default or Unmatured Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereofhereof, shall then be due. 11.2.

Appears in 1 contract

Samples: Term Loan Agreement (Banknorth Group Inc /New/ /De/)

Setoff Ratable Payments. 11.1 SETOFF. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the such Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Day Credit Agreement (Nationwide Financial Services Inc/)

Setoff Ratable Payments. 11.1 SETOFFSetoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.

Appears in 1 contract

Samples: Assignment Agreement (Southwestern Energy Co)

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