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 Bank has or subsequently obtains by agreement, operation of law or otherwise a security interest in any Designated Account, the Bank hereby agrees that such security interest shall be subordinate to that of the Secured Parties. The funds deposited into any Designated 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 Parties (except that the Bank may set off (i) all amounts due to the Bank in respect of its customary fees and expenses for the routine maintenance and operation of the Designated Accounts, including overdraft fees, and (ii) the face amount of any checks or other items which have been credited to any Designated Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Bank has or subsequently obtains by agreement, operation of law or otherwise a security interest in any Designated Account, the Bank hereby agrees that such security interest shall be subordinate to that of the Secured Parties. The funds deposited into any Designated 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 Parties (except that the Bank may set off (i) all amounts due to the Bank in respect of its customary fees and expenses for the routine maintenance and operation of the Designated Accounts, including overdraft fees, and (ii) the face amount of any checks or other items which have been credited to any Designated Account but are subsequently returned unpaid because of uncollected or insufficient funds).

Subordination of Lien; Waiver of Set-Off. In the event that the Bank has or subsequently obtains by agreement, operation of law or otherwise a security interest in any Designated Account, the Bank hereby agrees that such security interest shall be subordinate to that of the Secured Parties. The funds deposited into any Designated 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 Parties (except that the Bank may set off (i) all amounts due to the Bank in respect of its customary fees and expenses for the routine maintenance and operation of the Designated Accounts, including overdraft fees, and (ii) the face amount of any checks cheques or other items which have been credited to any Designated Account but are subsequently returned unpaid because of uncollected or insufficient funds).

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

Subordination of Lien; Waiver of Set-Off. In the event that the Bank has or subsequently obtains by agreement, operation of law or otherwise a security interest in any Designated Account, the Bank hereby agrees that such security interest shall be subordinate to that of the Secured Parties. The funds deposited into any Designated 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 Parties (except that the Bank may set off (i) all amounts due to the Bank in respect of its customary fees and expenses for the routine maintenance and operation of the Designated Accounts, including overdraft fees, and (ii) the face amount of any checks cheques or other items which have been credited to any Designated Account but are subsequently returned unpaid because of uncollected or insufficient funds).

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

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

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