Common use of Charging of Payments Clause in Contracts

Charging of Payments. A Bank may, after the occurrence of an Event of Default, at its option, set-off and apply to the Obligations and otherwise exercise its rights of recoupment as to any and all (i) balances and deposits of Borrower held by such Bank, (ii) indebtedness and other obligations at any time owing to or for the credit or the account of Borrower by such Bank and by any of such Bank’s Affiliates. A Bank may, after notice to Borrower at its option, also charge all payments required to be made on any of the Obligations against the Revolving Facility. If a Bank charges the aforementioned payments against the Revolving Facility, the same shall be deemed an Advance thereunder and the amount of the Advance shall thereafter accrue interest at the interest rate applicable from time to time to Advances; and if a Bank charges payments as aforesaid, such Bank may, in its discretion, limit, declare a moratorium on and terminate Borrower’s right under this Agreement to receive additional Advances, after notice to Borrower and each other Bank, and a Bank’s decision to do one of the foregoing does not prevent it from later doing any one or more of the others.

Charging of Payments. A Bank may, after the occurrence of an Event of Default, Default at its option, set-off and apply to the Obligations and otherwise exercise its rights of recoupment as to any and all (i) balances and deposits of Borrower held by such Bank, (ii) indebtedness and other obligations at any time owing to or for the credit or the account of Borrower by such Bank and by any of such Bank’s Affiliates. A Bank may, after notice to Borrower at its option, also charge all payments required to be made on any of the Obligations against the Committed Revolving FacilityLine. If a Bank charges the aforementioned payments against the Committed Revolving FacilityLine, the same shall be deemed an Advance thereunder and the amount of the Advance shall thereafter accrue interest at the interest rate applicable from time to time to Advances; and if a Bank charges payments as aforesaid, such Bank may, in its discretion, limit, declare a moratorium on and terminate Borrower’s right under this Agreement to receive additional Advances, after notice to Borrower and each other Bank, and a Bank’s decision to do one of the foregoing does not prevent it from later doing any one or more of the others.

Charging of Payments. A Bank may, after the occurrence of an Event of Default, at its option, set-off and apply to the Obligations and otherwise exercise its rights of recoupment as to any and all (i) balances and deposits of Borrower held by such Bank, (ii) indebtedness and other obligations at any time owing to or for the credit or the account of Borrower by such Bank and by any of such Bank’s Affiliates. A Bank may, after notice to Borrower at its option, also charge all payments required to be made on any of the Obligations against the Committed Revolving FacilityLine. If a Bank charges the aforementioned payments against the Committed Revolving FacilityLine, the same shall be deemed an Advance thereunder and the amount of the Advance shall thereafter accrue interest at the interest rate applicable from time to time to Advances; and if a Bank charges payments as aforesaid, such Bank may, in its discretion, limit, declare a moratorium on and terminate Borrower’s right under this Agreement to receive additional Advances, after notice to Borrower and each other Bank, and a Bank’s decision to do one of the foregoing does not prevent it from later doing any one or more of the others.

Charging of Payments. A Bank may, after During the occurrence continuance of an Event of Default, Bank may, at its option, set-off and apply to the Obligations and otherwise exercise its rights of recoupment as to any and all (i) balances and deposits of Borrower held by such Bank, (ii) indebtedness and other obligations at any time owing to or for the credit or the account of Borrower by such Bank and by any of such Bank’s Affiliates. A During the continuance of an Event of Default, Bank may, after notice to Borrower at its option, also charge all payments required to be made on any of the Obligations against the Committed Revolving FacilityLine. If a Bank charges the aforementioned payments against the Committed Revolving FacilityLine, the same shall be deemed an Advance thereunder and the amount of the Advance shall thereafter accrue interest at the interest rate applicable from time to time to Advances; and if a Bank charges payments as aforesaid, such Bank may, in its discretion, limit, declare a moratorium on and terminate Borrower’s right under this Agreement to receive additional Advances, after all without prior notice to Borrower Borrower, unless notice is otherwise specifically required under this Agreement – and each other Bank, and a Bank’s decision to do one of the foregoing does not prevent it from later doing any one or more of the others.

Charging of Payments. A Bank may, after Upon the occurrence and during the continuation of an Event of DefaultDefault hereunder, Bank may, at its option, set-off and apply to the Obligations and otherwise exercise its rights of recoupment as to any and all (i) balances and deposits of Borrower held by such Bank, ; and (ii) indebtedness and other obligations at any time owing to or for the credit or the account of Borrower by such Bank and by any of such Bank’s Affiliates. A Bank may, after notice to Borrower at its option, upon the occurrence and during the continuation of an Event of Default, also charge all payments required to be made on any of the Obligations against the Revolving Facility. If a Bank charges the aforementioned payments against the Revolving Facility, the same shall be deemed an Advance thereunder and the amount of the Advance shall thereafter accrue interest at the interest rate applicable from time to time to Advances; and if a Bank charges payments as aforesaid, such Bank may, in its discretion, limit, declare a moratorium on and terminate Borrower’s right under this Agreement to receive additional Advances, after all without prior notice to Borrower Borrower, unless notice is otherwise specifically required under this Agreement – and each other Bank, and a Bank’s decision to do one of the foregoing does not prevent it from later doing any one or more of the others.