Common use of CONTRACTUAL SET Clause in Contracts

CONTRACTUAL SET. OFF Each of the Obligors authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder but unpaid; for this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors Obligor authorises each Bank following the occurrence of an Event of Default to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that such Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder under the Finance Documents but unpaid; for . For this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors Obligor authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that such Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder under any Finance Document but unpaid; for . For this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors Obligor authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that such Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder under the Finance Documents but unpaid; for . For this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors Obligor authorises each Bank Bank, at any time any sum is due and payable hereunder and remains unpaid, to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that such Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder under the Finance Documents but unpaid; for . For this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF off Each of the Obligors authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder but unpaid; for this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF off Each of the Obligors authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder but unpaid; for this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder but unpaid; for this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.the

CONTRACTUAL SET. OFF Each Following an Event of the Obligors Default which is continuing each Obligor authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that such Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder under any Finance Document but unpaid; for . For this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.

CONTRACTUAL SET. OFF Each of the Obligors authorises each Bank to apply and each Bank shall be entitled to set-off any credit balance to which such Obligor is entitled on any account of such Obligor with that Bank in satisfaction of any sum due and payable from such Obligor to such Bank hereunder but unpaid; for this purpose, each Bank is authorised to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary to effect such application.