Common use of Right of Set-off Clause in Contracts

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 13 contracts

Samples: Credit Agreement (Highwoods Properties Inc), Credit Agreement (Maxim Group Inc /), Credit Agreement (Brandywine Realty Trust)

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Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Borrower or its Subsidiaries against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 10 contracts

Samples: Term Loan C Agreement (Brandywine Operating Partnership, L.P.), Term Loan C Agreement (Brandywine Operating Partnership, L.P.), Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 9 contracts

Samples: Credit Agreement (Navigant International Inc), Credit Agreement (Correctional Services Corp), Credit Agreement (Navigant International Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 9 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwiselaw, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 9 contracts

Samples: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, hereunder or under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans Advances and the Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 8 contracts

Samples: Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 8 contracts

Samples: Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 7 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc), Bridge Credit Agreement (Quest Diagnostics Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 5 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party a Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 5 contracts

Samples: Day Credit Agreement (Duke Energy Field Services LLC), Day Credit Agreement (Duke Energy Field Services LLC), Credit Agreement (Duke Energy Field Services Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 5 contracts

Samples: Credit Agreement (DCP Midstream Partners, LP), Bridge Credit Agreement (DCP Midstream Partners, LP), Credit Agreement (DCP Midstream Partners, LP)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 5 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 5 contracts

Samples: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any a Credit Party against obligations and liabilities of such a Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each Credit Parties Party hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c14.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 4 contracts

Samples: Credit Agreement (Cott Corp /Cn/), Credit Agreement (Wolverine Tube Inc), Credit Agreement (Wolverine Tube Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Revolving Loan Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (WPS Resources Corp), Credit Agreement (Wisconsin Public Service Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.02, each Lender Lender, to the extent permitted by law, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such each Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.09 or 11.03(e) or 3.8 may exercise all rights of set-off with respect to its participation interest Participation Interest as fully as if such Person were a Lender hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc), Day Credit Agreement (Baker Hughes Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.7(b) may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Brandywine Realty Trust), Term Loan Credit Agreement (Brandywine Operating Partnership Lp /Pa), Term Loan Credit Agreement (Brandywine Operating Partnership Lp /Pa)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness Indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Chattem Canada Holdings Inc), Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)

Right of Set-off. (a) In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.27.02, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c8.05(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Davel Communications Inc), Credit Agreement (Phonetel Technologies Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party or any of its Subsidiaries against obligations and liabilities the Credit Party Obligations of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwiseParty, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, Credit Party Obligations may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Pulte Corp), Credit Agreement (Pulte Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an any Event of Default and Default, to the commencement of remedies described in Section 9.2fullest extent permitted by law, each Lender is hereby authorized by the Obligors at any time and or from time to time, without presentmentwith notice to the Obligors and to each other Lender, demandthe Board, protest or other notice of any kind (all of which rights being hereby expressly waived)the Agent, the Collateral Agent and the Loan Administrator, to set-set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness Indebtedness at any time held or owing by such that Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Obligor against and on account of the obligations and liabilities of such Credit Party Obligor to that Lender under this Agreement, the Lenders hereunderSecond Lien Guaranty, under the Notes and the other Loan Documents, including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement, the Second Lien Guaranty, the Notes, the or any other Credit Documents or otherwiseLoan Document, irrespective of whether the Administrative Agent or the Lenders not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the Loan or any other amounts due hereunder shall have become due and payable pursuant to Section 7.2 and although such obligations, liabilities or claimssaid obligations and liabilities, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Loan Agreement (Us Airways Group Inc), Loan Agreement (Us Airways Group Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. Following the exercise of its rights under this Section 11.2, such Lender shall make reasonable efforts to notify the Borrower and/or the relevant Credit Party.

Appears in 2 contracts

Samples: Credit Agreement (Pca International Inc), Credit Agreement (Pca International Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.12 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Staff Leasing Inc), Credit Agreement (Staff Leasing Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Year Revolving Credit Agreement (Nucor Corp), Day Revolving Credit Agreement (Nucor Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an and during the continuance of any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held by or owing by such to the Lender (including, without limitation, limitation branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against the obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the Notes, the other Credit Documents Note or otherwise, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that Lender agrees to notify the Borrower subsequent to any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of such set-off with respect to its participation interest as fully as if such Person were a Lender hereunderor application.

Appears in 2 contracts

Samples: Loan Agreement (RFS Hotel Investors Inc), Loan Agreement (RFS Hotel Investors Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 Section 3.14 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Genicom Corp), Credit Agreement (Genicom Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, Notes the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Amerisource Distribution Corp), Credit Agreement (Amerisource Distribution Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each New Credit Agreement Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such New Credit Agreement Lender (including, without limitation, limitation branches, agencies or Affiliates of such New Credit Agreement Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the New Credit Agreement Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the New Credit Agreement Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a New Credit Agreement Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Revolving Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Three Year Credit Agreement (Wisconsin Energy Corp), Credit Agreement (Wisconsin Energy Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Gorges Quik to Fix Foods Inc), Credit Agreement (Anchor Holdings Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) ), 3.7 or 3.8 3.15 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.

Appears in 2 contracts

Samples: Credit Agreement (Knoll Inc), Credit Agreement (Knoll Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any the Credit Party Parties against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Central Parking Corp), Credit Agreement (Central Parking Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply (subject to Section 3.13) any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts or transfer agent accounts which represent obligations to third parties.

Appears in 2 contracts

Samples: Credit Agreement (United Dominion Realty Trust Inc), Credit Agreement (United Dominion Realty Trust Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.02, each Lender Lender, to the extent permitted by law, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such each Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.09 or 11.03(e) or 3.8 may exercise all rights of set-off with respect to its participation interest Participation Interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Airgas Inc), Credit Agreement (Airgas Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (Texas New Mexico Power Co)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (PNM Resources Inc), Term Loan Credit Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, the Administrative Agent, each Lender and each L/C Issuer is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by the Administrative Agent, such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) or such L/C Issuer to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, Borrower Obligations irrespective of whether the Administrative Agent Agent, the L/C Issuers or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claimsBorrower Obligations, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Oglethorpe Power Corp), Credit Agreement (Oglethorpe Power Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an any Event of Default and Default, to the commencement of remedies described in Section 9.2fullest extent permitted by law, each Lender is hereby authorized by the Obligors at any time and or from time to time, without presentmentwith notice to the Obligors and to each other Lender, demandthe Board, protest or other notice of any kind (all of which rights being hereby expressly waived)the Agent, the Collateral Agent and the Loan Administrator, to set-set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness Indebtedness at any time held or owing by such that Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party Obligor against and on account of the obligations and liabilities of such Credit Party Obligor to that Lender under this Agreement, the Lenders hereunderFirst Lien Guaranty, under the Notes and the other Loan Documents, including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement, the First Lien Guaranty, the Notes, the or any other Credit Documents or otherwiseLoan Document, irrespective of whether the Administrative Agent or the Lenders not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the Loan or any other amounts due hereunder shall have become due and payable pursuant to Section 7.2 and although such obligations, liabilities or claimssaid obligations and liabilities, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Loan Agreement (Us Airways Group Inc), Loan Agreement (Us Airways Group Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.28.2 hereof, each Lender Bank is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender Bank (including, without limitation, limitation branches, agencies or Affiliates of such Lender Bank wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Bank hereunder, under the Revolving Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Bank subsequent thereto. Amounts received by a Bank pursuant to an exercise of rights under this Section are subject to the sharing provisions of Section 2.17. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(c10.3(c) or 3.8 Section 2.17 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender Bank hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Cottontops Inc), Credit Agreement (Anvil Holdings Inc)

Right of Set-off. In addition to any rights addxxxxx xx xxx xights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Universal Corp /Va/), Day Credit Agreement (Universal Corp /Va/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an any Event of Default and the commencement of remedies described in Section 9.2, each Lender is hereby authorized by each Credit Party at any time and or from time to time, without presentmentnotice to any Credit Party, demand, protest or other any such notice of any kind (all of which rights being hereby expressly waived), to set-set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts or accounts identified as payroll accounts) and any other indebtedness Indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against and on account of the obligations and liabilities of such any Credit Party to the Lenders hereunder, such Lender hereunder and under the Notes, the other Credit Documents Documents, including all claims of any nature or otherwisedescription arising out of or connected hereto or thereto, irrespective of whether the Administrative Agent or the Lenders not (a) such Lender shall have made any demand hereunder or (b) the principal of or the interest on the Loans or any other amounts due hereunder shall have become due and payable and although such obligations, liabilities or claimsobligations and liabilities, or any of them, may be contingent or unmatured, and . Each Lender agrees to notify the Collateral Agent promptly after any such set-off and application; provided that the failure to give such notice shall be deemed to have been made immediately upon not affect the occurrence of an Event of Default even though such charge is made or entered on the books validity of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderand application.

Appears in 2 contracts

Samples: Agreement (Navistar International Corp), Credit Agreement (Navistar International Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender Bank is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender Bank (including, without limitation, branches, agencies or Affiliates of such Lender Bank wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Bank hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Bank shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Bank subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender Bank hereunder.

Appears in 2 contracts

Samples: Loan Agreement (Genesco Inc), And Modified Loan Agreement (Genesco Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates affiliates of such Lender which are at least 50% owned by such Lender or its parent company wherever located) to or for the credit or the account of any Credit Party either Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Section 3.12 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Promus Hotel Corp), Credit Agreement (Promus Hotel Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts.

Appears in 2 contracts

Samples: Credit Agreement (United Dominion Realty Trust Inc), Credit Agreement (United Dominion Realty Trust Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each the Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such the Lender (including, without limitation, branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the NotesNote, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 11.3 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a the Lender hereunder.

Appears in 2 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Texas New Mexico Power Co), Term Loan Credit Agreement (Texas New Mexico Power Co)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Inex Corp), Credit Agreement (Speedway Motorsports Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Amerisource Distribution Corp), Bridge Credit Agreement (Navigant International Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Texas New Mexico Power Co), Credit Agreement (Texas New Mexico Power Co)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waivedwaived to the extent permitted by law), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. Following the exercise of its rights under this Section 11.2, such Lender shall make reasonable efforts to promptly notify the Borrower and/or the relevant Credit Party.

Appears in 2 contracts

Samples: Credit Agreement (Pca International Inc), Credit Agreement (Pca International Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and during the commencement of remedies described in Section 9.2continuation thereof, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Ivex Packaging Corp /De/), Credit Agreement (Ivex Packaging Corp /De/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender Lender, and each Affiliate of such Lender, is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender or its Affiliates (including, without limitation, branches, branches or agencies or Affiliates of such Lender or its Affiliates wherever located) to or for the credit or the account of any Credit Party or any of its Subsidiaries against obligations and liabilities the Credit Party Obligations of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwiseParty, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, Credit Party Obligations may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Pulte Homes Inc/Mi/), Credit Agreement (Pulte Homes Inc/Mi/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, the Administrative Agent, each Lender and each L/C Issuer is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by the Administrative Agent, such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) or such L/C Issuer to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, Borrower Obligations irrespective of whether the Administrative Agent Agent, the L/C Issuers or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claimsBorrower Obligations, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.. (b)

Appears in 2 contracts

Samples: Credit Agreement (Oglethorpe Power Corp), Credit Agreement (Oglethorpe Power Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, The Agent and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is hereby irrevocably authorized at any time and from time to timetime without notice to Holdings, without presentment, demand, protest or other any such notice of any kind (all of which rights being hereby expressly waived)waived by Holdings, to set-set off and to appropriate and apply any and all deposits (general or special) , time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by the Agent or such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of Holdings, or any Credit Party part thereof in such amounts as the Agent or such Lender may elect, against or on account of the obligations and liabilities of such Credit Party Holdings to the Lenders Agent or such Lender hereunder which are then due and payable and claims of every nature and description of the Agent or such Lender against Holdings, in any currency, whether arising hereunder, under the Notes, the any other Credit Documents Document or otherwiseotherwise in connection therewith, irrespective of whether as the Administrative Agent or such Lender may elect, whether or not the Lenders shall have Agent or such Lender has made any demand hereunder and although for payment. The Agent or such obligations, liabilities or claims, or any Lender shall notify Holdings promptly of them, may be contingent or unmatured, and any such set-off and the application made by the Agent or such Lender, as the case may be, of the proceeds thereof; provided that the failure to give such notice shall be deemed to have been made immediately upon not affect the occurrence of an Event of Default even though such charge is made or entered on the books validity of such Lender subsequent theretoset-off and application. The Credit Parties hereby agree that any Person purchasing a participation rights of the Agent and each Lender under this Section are in the Loans addition to other rights and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all remedies (including, without limitation, other rights of set-off with respect to its participation interest as fully as if off) that the Agent or such Person were a Lender hereundermay have.

Appears in 1 contract

Samples: Credit Agreement (Markel Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, Upon (i) the occurrence and not by way of limitation during the continuance of any such rights, upon the occurrence of an Event of Default and (ii) the commencement making of remedies described in the request or the granting of the consent specified by Section 9.27.01 to authorize the Designated Agent to declare the Advances due and payable pursuant to the provisions of Section 7.01, or to demand payment of (or cash collateralization of) all then outstanding Letter of Credit Liability, each Lender is hereby authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived)to the fullest extent permitted by law, to set-set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final, but excluding trust accounts) at any time held and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of the Borrower against any Credit Party against and all of the obligations and liabilities of such Credit Party the Borrower now or hereafter existing under this Agreement (including, to the Lenders hereunderfullest extent permitted by law, under obligations indirectly owed to such Lender by virtue of its purchase of a participation or sub-participation of the NotesLetter of Credit Liability pursuant to Section 3.05), the other Credit Documents whether or otherwise, irrespective of whether the Administrative Agent or the Lenders not such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and under this Agreement. Each Lender agrees promptly to notify the Borrower after any such set-off and application made by such Lender; provided that the failure to give such notice shall be deemed to have been made immediately upon not affect the occurrence of an Event of Default even though such charge is made or entered on the books validity of such Lender subsequent theretosetoff and application. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect each Lender under this Section are in addition to its participation interest as fully as if other rights and remedies (including, without limitation, other rights of setoff) which such Person were a Lender hereundermay have.

Appears in 1 contract

Samples: Credit Agreement (Walt Disney Co/)

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Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.29.2 of the Loan Agreement, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Guarantor against obligations and liabilities of such Credit Party the Guarantor to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Guarantor hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.8 or 11.3(d) or 3.8 of the Loan Agreement may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderthereunder.

Appears in 1 contract

Samples: Term Loan Agreement (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Xxxxxx subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted 110 under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.

Appears in 1 contract

Samples: Credit Agreement (Knoll Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.agree

Appears in 1 contract

Samples: Credit Agreement (Steel Heddle International Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any a Credit Party against obligations and liabilities of such a Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each Credit Parties Party hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c14.3(c) or 3.8 and whose participation has been disclosed to the Borrower may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Nacco Industries Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.212.1 or 12.2, each Lender holder of Notes is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender holder (including, without limitation, branches, agencies or Affiliates of such Lender holder wherever located) to or for the credit or the account of any Credit Party Obligor against obligations and liabilities of such Credit Party Obligor to the Lenders hereunder, holders of the Notes under this Agreement and the Notes, the other Credit Financing Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders holders of Notes shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender holder subsequent thereto. The Credit Parties Each holder of Notes hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect effected pursuant to its participation interest this Section 22.9 shall be subject to the terms of the Intercreditor Agreement and, if the Intercreditor Agreement shall no longer be in effect, shall be shared among all holders of Notes at the time outstanding in proportion, as fully nearly as if such Person were a Lender hereunderpracticable, to the respective unpaid principal amounts thereof not theretofore prepaid.

Appears in 1 contract

Samples: Note Purchase Agreement (Ryans Family Steakhouses Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (School Specialty Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Xxxxxx subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 3.9 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the any Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 Participation Purchaser may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Bridge Credit Agreement (Southern Co)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, Upon (i) the occurrence and not by way of limitation during the continuance of any such rights, upon the occurrence of an Event of Default and (ii) the commencement making of remedies described in the request or the granting of the consent specified by Section 9.27.01 to authorize the Designated Agent to declare the Advances due and payable pursuant to the provisions of Section 7.01, or to demand payment of (or cash collateralization of) all then outstanding Letter of Credit Liability, each Lender is hereby authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived)to the fullest extent permitted by law, to set-set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final, but excluding trust accounts) at any time held and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of the Borrower against any Credit Party against and all of the obligations and liabilities of such Credit Party the Borrower now or hereafter existing under this Agreement (including, to the Lenders hereunderfullest extent permitted by law, under obligations indirectly owed to such Lender by virtue of its purchase of a participation or sub-participation of the NotesLetter of Credit Liability pursuant to Section 3.05), the other Credit Documents whether or otherwise, irrespective of whether the Administrative Agent or the Lenders not such Lender shall have made any demand hereunder under this Agreement. Each Lender agrees promptly to notify the Borrower and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and the Designated Agent after any such set-off and application made by such Lender; provided that the failure to give such notice shall be deemed to have been made immediately upon not affect the occurrence of an Event of Default even though such charge is made or entered on the books validity of such Lender subsequent theretosetoff and application. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect each Lender under this Section are in addition to its participation interest as fully as if other rights and remedies (including, without limitation, other rights of setoff) which such Person were a Lender hereunder.may have. SECTION 9.06

Appears in 1 contract

Samples: Credit Agreement

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the applicable Borrower against obligations and liabilities of such Credit Party Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrowers hereby agree that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuation of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-set- off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Credit Agreement (Atmos Energy Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.27.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such the Credit Party Parties to the Lenders hereunder, under the Term Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Term Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 9.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Bridge Credit Agreement (Orthodontic Centers of America Inc /De/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be 119 126 contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that to the extent permitted by law any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) ), 2.5, 2.6 or 3.8 2.7 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunderhereunder and any such set-off shall reduce the amount owed by such Credit Party to the Lender.

Appears in 1 contract

Samples: Credit Agreement (Us Can Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way Without constituting a retention of limitation Collateral in satisfaction of any such rightsan obligation within the meaning of Section 9-620 of the UCC, upon the occurrence of an any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is hereby authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived)to the fullest extent permitted by law, to set-set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and any other indebtedness at any time held or owing by such the Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of the Borrower against any Credit Party against and all of the obligations and liabilities of such Credit Party to the Lenders hereunder, now or hereafter existing under the Notesthis Agreement, the Note or any other Credit Documents or otherwiseLoan Document, irrespective of whether or not the Administrative Agent or the Lenders Lender shall have made any demand hereunder or under the Note and although such obligations, liabilities or claims, or any of them, obligation may be contingent or unmatured. The rights of the Lender under this Section 10.4 are in addition to other rights and remedies (including, and any such without limitation, other rights of set-off shall be deemed off) which the Lender may have. Bxxxxxxx agrees, to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree fullest extent it may effectively do so under applicable law, that any Person purchasing holder of a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 any Note may exercise all rights of set-off or counterclaim or other rights with respect to its such participation interest as fully as if such Person holder of a participation were a direct creditor of the Borrower in the amount of such participation. The Lender hereunderagrees to notify the Borrower promptly after it exercises any such right of set-off.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Castellum, Inc.)

Right of Set-off. 84 90 In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party a Borrower against obligations and liabilities of a Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Each Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Shorewood Packaging Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Security Agreement (Packaging Dynamics Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Loan Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders Lenders, shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Xxxxxx subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Agreement (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Lease (Public Service Co of New Mexico)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) ), but excluding deposits in an Excluded Deposit Account (as defined in Section 7.18), and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.12 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Personnel Group of America Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off set‑off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the First Mortgage Bonds, the other Credit Documents Documents, the FMB Mortgage or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off set‑off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off set‑off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Texas New Mexico Power Co)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held by or owing by such to the Lender (including, without limitation, limitation branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against the obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the Notes, the other Credit Documents Note or otherwise, irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that Lender agrees to notify the Borrower promptly following to any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of such set-off with respect to its participation interest as fully as if such Person were a Lender hereunderor application.

Appears in 1 contract

Samples: Loan Agreement (Cedar Shopping Centers Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.such

Appears in 1 contract

Samples: Credit Agreement (Brandywine Realty Trust)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply (subject to Section 3.13) any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder. It is specifically acknowledged and agreed that no right of set-off shall be exercised against accounts identified as holding tenant deposit accounts.

Appears in 1 contract

Samples: Day Credit Agreement (United Dominion Realty Trust Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(e) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Davel Communications Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Term Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.14 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Railworks Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of the Borrower to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Revolving Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Day Revolving Credit Agreement (Nucor Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest protest, or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies agencies, or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any the Credit Party Parties against obligations and liabilities of the Credit Parties to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities liabilities, or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Universal Corp /Va/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.28.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Term Loans and Commitments hereunder pursuant to Section 11.3(cSections 3.8 or 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an any Event of Default and Default, the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held by or owing by such to the Lender (including, without limitation, limitation branches, agencies or Affiliates of such the Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against the obligations and liabilities of such Credit Party the Borrower to the Lenders Lender hereunder, under the Notes, the other Credit Documents Note or otherwise, . irrespective of whether the Administrative Agent or the Lenders Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such the Lender subsequent thereto. The Credit Parties hereby agree that Lender agrees to notify the Borrower subsequent to any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of such set-off with respect to its participation interest as fully as if such Person were a Lender hereunderor application.

Appears in 1 contract

Samples: Loan Agreement (Brassie Golf Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law Law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement and continuation of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments Commitment hereunder pursuant to Section 11.3(cSections 3.8 or 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement (PNM Resources Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest protest, or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies agencies, or Affiliates affiliates of such Lender wherever located) to or for the credit or the account of any the Credit Party Parties against obligations and liabilities of the Credit Parties to such Credit Party to the Lenders Lender hereunder, under the Notes, Notes or the other Credit Documents or otherwiseDocuments, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities liabilities, or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans Loan and Commitments hereunder pursuant to Section 11.3(c3.16 or Section 10.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Universal Corp /Va/)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.14 or Section 9.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Railworks Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c3.13 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Access Worldwide Communications Inc)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party Person to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Credit Parties hereby agree that any Any Person purchasing a participation in the Revolving Loans and Commitments hereunder pursuant to Section 11.3(c3.14 or Section 11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Railworks Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2Default, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, limitation branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party against obligations and liabilities of such Credit Party to the Lenders such Lender hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders such Lender shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender subsequent thereto. The Each of the Credit Parties hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Inex Corp)

Right of Set-off. In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence of an Event of Default and the commencement of remedies described in Section 9.2, each Lender is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of which rights being hereby expressly waived), to set-off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender (including, without limitation, branches, agencies or Affiliates of such Lender wherever located) to or for the credit or the account of any Credit Party the Borrower against obligations and liabilities of such Credit Party the Borrower to the Lenders hereunder, under the Notes, the other Credit Documents or otherwise, irrespective of whether the Administrative Agent or the Lenders shall have made any demand hereunder and although such obligations, liabilities or claims, or any of them, may be contingent or unmatured, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Lender Xxxxxx subsequent thereto. The Credit Parties Borrower hereby agree agrees that any Person purchasing a participation in the Loans and Commitments hereunder pursuant to Section 11.3(c11.3(d) or 3.8 may exercise all rights of set-off with respect to its participation interest as fully as if such Person were a Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Quest Diagnostics Inc)

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