Common use of Subordination of Lien; Waiver of Set-Off Clause in Contracts

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law or otherwise a security interest in a Collateral Account or any “security entitlement” or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution Custodian has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral Securities Account or any “security entitlement” or other property entitlement credited thereto, the Financial Institution Custodian hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money Financial Assets and other items credited to any Collateral deposited in each Securities Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution Custodian may set off (i) all amounts due to the Financial Institution Custodian in respect of its customary fees and expenses for the routine maintenance and operation of the Collateral Accounts such Securities Account and (ii) the face amount of any checks which have been credited to any such Collateral Securities Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a any Collateral Account or any “security entitlement” entitlement or other property cash credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the respective Collateral Accounts Account and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution Securities Intermediary has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral the Securities Account or any “security entitlement” or other property entitlement credited thereto, the Financial Institution Securities Intermediary hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money assets and other items credited deposited to any Collateral the Securities Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution Securities Intermediary may set off (i) all amounts due to the Financial Institution it in respect of its customary fees and expenses for the routine maintenance and operation of the Collateral Accounts Securities Account, and (ii) the face amount of any checks which have been credited to any such Collateral the Securities Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution Custodian has or subsequently obtains by agreement, by operation of Law law, or otherwise a security interest in a Collateral the Securities Account or any “security entitlement” or other property entitlement credited thereto, the Financial Institution Custodian hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money Financial Assets and other items credited to any Collateral deposited in the Securities Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution Custodian may set off (i) all amounts due to the Financial Institution Custodian in respect of its customary fees and expenses for the routine maintenance and operation of the Collateral Accounts Securities Account and (ii) the face amount of any checks which have been credited to any such Collateral the Securities Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law or otherwise a security interest in a the Collateral Account or any “security entitlement” or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any the Collateral Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts Account and (ii) the face amount of any checks which have been credited to any such the Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” financial assets, cash or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral Pledged Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Pledged Account and (ii) the face amount of any checks which have been credited to any such Collateral Pledged Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” financial assets, cash or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral Pledged Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party [(except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Pledged Account and (ii) the face amount of any checks which have been credited to any such Collateral Pledged Account but are subsequently returned unpaid because of uncollected or insufficient funds).]

Subordination of Lien; Waiver of Set-Off. In the event that ---------------------------------------- the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” entitlement or other property cash credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral either Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Account and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution Custodian has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral the Securities Account or any “security entitlement” or other property entitlement credited thereto, the Financial Institution Custodian hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money Financial Assets and other items credited to any Collateral deposited in the Securities Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution Custodian may set off (i) all amounts due to the Financial Institution Custodian in respect of its customary fees and expenses for the routine maintenance and operation of the Collateral Accounts Securities Account and (ii) the face amount of any checks which have been credited to any such Collateral the Securities Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law or otherwise a security interest in a Collateral Account or any “"security entitlement” " or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” entitlement or other property cash credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured PartyCollateral Agent. The financial assets, money and other items credited to any Collateral Pledged Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Pledged Account and (ii) the face amount of any checks which have been credited to any such Collateral Pledged Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral the Pledged Account or any “security entitlement” financial assets, cash or other property credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party. The financial assets, money and other items credited to any Collateral the Pledged Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Pledged Account and (ii) the face amount of any checks which have been credited to any such Collateral Pledged Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” entitlement or other property cash credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured PartyAgent. The financial assets, money and other items credited to any Collateral Pledged Account will not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Pledged Account and (ii) the face amount of any checks which have been credited to any such Collateral Pledged Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law law or otherwise a security interest in a Collateral any Pledged Account or any “security entitlement” entitlement or other property cash credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the [each] Secured Party. The financial assets, money and other items credited to any Collateral either Account will not be subject to deduction, set-off, banker’s 's lien, or any other right in favor of any Person person other than the [each] Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of the Collateral Accounts respective Account and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).