BNPP Insolvency. If the Securities Investor Protection Corporation files an application for a protective decree against BNPP PB, Inc., Customer shall, subject to Applicable Law and any general principles of equity, regardless of whether considered in a proceeding in equity or law, have the contractual right to set-off or net any Obligations owed by Customer to BNPP PB, Inc. against any obligations owed by BNPP PB, Inc. to Customer under this Agreement.
Appears in 7 contracts
Samples: Account Agreement (FS Global Credit Opportunities Fund), Account Agreement (FS Energy Total Return Fund), Pb Agreement (FS Credit Income Fund)
BNPP Insolvency. If the Securities Investor Protection Corporation files an application for a protective decree against BNPP PB, Inc., Customer shall, subject to Applicable Law and any general principles of equity, regardless of whether considered in a proceeding in equity or law, have the contractual right to set-off or net any Obligations owed by Customer to BNPP PB, Inc. PB against any obligations owed by BNPP PB, Inc. PB to Customer under this Agreement.
Appears in 2 contracts
Samples: Account Agreement (FS Multi-Alternative Income Fund), Account Agreement (FS Investment Corp IV)
