Common use of Counterclaims Clause in Contracts

Counterclaims. In the event that the City commences any action or proceeding against Funding Recipient for or in connection with any Default or Event of Default on the part of Funding Recipient under this Agreement, Funding Recipient will not interpose any counterclaim of any nature whatever or description in any such action or proceedings unless such counterclaim is of a compulsory nature such that it would as a matter of common law be barred if not raised therein.

Counterclaims. In the event that the City commences any action or proceeding against Funding Recipient for or in connection with any on account of the occurrence of a Default or an Event of Default on under the part terms of Funding Recipient under this Agreement, Funding Recipient will shall not interpose any counterclaim of any nature whatever or description whatsoever in any such action or proceedings proceeding unless such counterclaim is of a compulsory nature such that it would that, as a matter of common law law, it would be barred if not raised therein.therein.‌‌