Cross-Collateralization; Right of Set-Off Sample Clauses

Cross-Collateralization; Right of Set-Off. Except to the extent otherwise agreed with you in writing, any loans, charges, service or analysis charges, overdrafts or other obligations or other indebtedness now or hereafter owed to us by you may be charged in whole or in part to the Account, to any other account(s) in your name, or to accounts of co-owners and of certain individuals, to the extent permitted by law. You grant us a security interest in the balance in the Account and in any other account(s) in your name, to pay all loans, charges, service or analysis charges, overdrafts or other obligations or other indebtedness now or hereafter owed to us by you. In addition, we may exercise our right of set off without advance notice to you and without regard to any other right that we may have against you or any other party. Such set off shall be effective immediately upon the occurrence of the event giving rise to the set off rights even though we may enter the set off on our books at a later date. Our security interest and right of set off shall prevail and take priority over any adverse claim, change of ownership, pledge, attachment, garnishment, levy, court order or other legal process of any kind whatsoever. Should one of these events occur, we may take any action permitted or required by law.
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Cross-Collateralization; Right of Set-Off. Buyer may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets of Seller held by Buyer or any Affiliate under any agreement and shall have a right of set-off against any amounts owed by Buyer or any Affiliate to Seller under any agreement. In addition, the parties agree that Buyer may, in its sole discretion upon the occurrence and during the continuation of an event of default under any other agreement to which Seller and Buyer or any of its Affiliates are parties, proceed against any assets held by Buyer hereunder and shall have a right of set-off against any amounts owed by Buyer to Seller.
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Cross-Collateralization; Right of Set-Off. If an Event of ----------------------------------------- Default has occurred and either is continuing or has led to an acceleration under Section 10.01, or if any amount payable hereunder or under any of the other Note Documents on the Termination Date (or any earlier Maturity Date) is not paid as and when due, the Agent and each of the Purchasers and the Noteholders may each, in its sole discretion, proceed, without prior notice to the Note Issuer (any such notice being expressly waived by the Note Issuer to the extent permitted by applicable law) against any assets held by it under this Note Purchase Agreement or any other agreement between it and the Note Issuer and shall have a right of set-off against, and a right to appropriate and apply, such amount any and all monies and other property of the Note Issuer, including any and all deposits (general or special, time or demand, provisional or final), in any currency, and any and all other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, and in each case at any time held or owing by the Agent, such Purchaser or Noteholder. Each of the Agent and each Purchaser and Noteholder agrees promptly to notify the Note Issuer after any such set-off and application made by it; provided that the failure to give such notice shall not affect the validity of such set-off and application. In addition, the Agent may, in its sole discretion upon the occurrence and during the continuation of an event of default under any other agreement giving rise to Secured Obligations, proceed against any Collateral and each of the Agent, the Purchasers and the Noteholders shall have a right to set-off against any Secured Obligations any amounts (including, without limitation, any rebate of Facility Fee) owed by it to the Note Issuer under this Note Purchase Agreement.
Sample 1
Cross-Collateralization; Right of Set-Off. The Note Purchaser may, in its sole discretion upon the occurrence of an Event of Default, proceed against any assets held by it or on its behalf under this Agreement or any other agreement between the Note Purchaser and the Company and shall have a right of set-off against any amounts owed by the Note Purchaser to the Company under this Agreement or any other agreement between the Note Purchaser and 52 the Company. In addition, the Note Purchaser may, in its sole discretion upon the occurrence and during the continuation of an event of default under any other agreement between the Note Purchaser and the Company, proceed against any Collateral (or cause it to be proceeded against) and shall have a right of set-off against any amounts owed by the Note Purchaser to the Company under this Agreement.
Sample 1
Cross-Collateralization; Right of Set-Off. SBRC may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets held by it under any agreement with Borrower or Onyx and shall have a right of set-off against any amounts owed by SBRC to Borrower or Onyx under any such agreement. In addition, the parties agree that SBRC may, in its sole discretion upon the occurrence and during the continuation of an event of default under any such agreement, proceed against any assets held by it hereunder and shall have a right of set-off against any amounts owed by SBRC to Borrower hereunder.
Sample 1
Cross-Collateralization; Right of Set-Off. MLMCI may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets held by it or any of its affiliates under any other agreement with Assignor or any of Assignor's subsidiaries (including, without limitation, the Swap Agreement) and shall have a right of set-off against any amounts owed by MLMCI, MLCS or any of their affiliates to Assignor under any other agreement with Assignor or any of Assignor's subsidiaries. In addition, the parties agree that MLMCI may, in its sole discretion upon the occurrence and during the continuation of an event of default under any other agreement with Assignor or any of Assignor's subsidiaries (including, without limitation, the Swap Agreement), proceed against any assets held by it hereunder and shall have a right of set-off against any amount owed by MLMCI to Assignor hereunder.
Sample 1
Cross-Collateralization; Right of Set-Off. MLMCI may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets held by it under the Master Repurchase Agreement and shall have a right of set-off against any amounts owed by MLMCI under the Master Repurchase Agreement. In addition, the parties agree that MLMCI may, in its sole discretion upon the occurrence and during the continuation of an event of default under the Master Repurchase Agreement, proceed against any assets held by it hereunder and shall have a right of set-off against any amount owed by MLMCI to Assignor hereunder.
Sample 1
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Cross-Collateralization; Right of Set-Off. MLMCI may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets held by it or any of its affiliates under any hedging related agreement with Seller and shall have a right of set-off against any amounts owed by MLMCI or any of its affiliates to Seller under any hedging related agreement with Seller. In addition, the parties agree that MLMCI or any of its affiliates may, in its sole discretion upon the occurrence and during the continuation of an event of default under any other agreement with Seller, proceed against any assets held by it hereunder and shall have a right of set-off against any amount owed by MLMCI to Seller hereunder.
Sample 1
Cross-Collateralization; Right of Set-Off. MLMCI may, in its sole discretion upon the occurrence and during the continuation of an Event of Default hereunder, proceed against any assets held by it under the Master Assignment Agreement and shall have a right of set-off against any amounts owed by MLMCI to Seller under the Master Assignment Agreement. In addition, the parties agree that MLMCI may, in its sole discretion upon the occurrence and during the continuation of an event of default under the Master Assignment Agreement, proceed against any assets held by it hereunder and shall have a right of set-off against any amounts owed by MLMCI to Seller hereunder.
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Related to Cross-Collateralization; Right of Set-Off

  • Cross-Collateralization No Mortgage Loan is cross-collateralized or cross-defaulted with any other mortgage loan that is outside the Mortgage Pool, except in the case of a Mortgage Loan that is part of a Whole Loan.

  • Cross-Default; Cross-Collateralization (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Borrower agrees that each of the Loan Documents (including, without limitation, the Security Instruments) are and will be cross collateralized and cross defaulted with each other so that (i) an Event of Default under any of Loan Documents shall constitute an Event of Default under each of the other Loan Documents; (ii) an Event of Default hereunder shall constitute an Event of Default under each Security Instrument; (iii) each Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note; and (iv) such cross collateralization shall in no event be deemed to constitute a fraudulent conveyance and Borrower waives any claims related thereto.

  • Cross Default and Cross Collateralization (a) Cross-Default. As stated under Section 10.1 hereof, an Event of Default under any of the Affiliated Financing Documents shall be an Event of Default under this Agreement. In addition, a Default or Event of Default under any of the Financing Documents shall be a Default under the Affiliated Financing Documents.

  • Cash Collateralization of Letters of Credit If (i) effective immediately, without demand or other notice of any kind, as of any expiration date of a Letter of Credit, such Letter of Credit may for any reason remain outstanding and partially or wholly undrawn, (ii) effective immediately, without demand or other notice of any kind, as of the occurrence of any Event of Default under paragraph (h) or (i) of Section 7.01, or (iii) any Event of Default under paragraph (a) or (b) of Section 7.01 shall occur and be continuing, on the Business Day on which the Revolving Borrowers receive notice from the Administrative Agent, the applicable Issuing Bank or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure representing more than 50% of the aggregate LC Exposure of all Revolving Lenders) demanding the deposit of cash collateral pursuant to this paragraph, the Revolving Borrowers shall deposit in an account with a depositary bank that is a Lender reasonably satisfactory to the Collateral Agent, in the name of the Administrative Agent and for the benefit of the Secured Parties (or in the case of any Letters of Credit that expire later than the fifth (5th) Business Day prior to the Revolving Maturity Date and are cash collateralized on or after the fifth (5th) Business Day prior to the Revolving Maturity Date, for the benefit of the applicable Issuing Bank), an amount of cash in dollars or an Alternative Currency equal to the portions of the LC Exposure attributable to Letters of Credit, as of such date plus any accrued and unpaid interest thereon. The Revolving Borrowers also shall deposit cash collateral pursuant to this paragraph as and to the extent required by Section 2.10(b). Each such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Revolving Borrowers under this Agreement and the other Loan Documents. At any time that there shall exist a Defaulting Lender, if any Defaulting Lender Fronting Exposure remains outstanding (after giving effect to Section 2.21(a)(iv)), then promptly upon the request of the Administrative Agent or the Issuing Bank or the Swingline Lender, the Revolving Borrowers shall deliver to the Administrative Agent cash collateral in an amount sufficient to cover such Defaulting Lender Fronting Exposure (after giving effect to any cash collateral provided by the Defaulting Lender). The Administrative Agent (for the benefit of the Secured Parties) shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent in Cash Equivalents and at the Revolving Borrowers’ risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Notwithstanding anything to the contrary set forth in this Agreement, moneys in such account shall be applied by the Administrative Agent first to reimburse the Issuing Banks for LC Disbursements for which they have not been reimbursed and, to the extent not so applied, the balance shall be held for the satisfaction of the reimbursement obligations of the Revolving Borrowers for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing more than 50% of the aggregate LC Exposure of all the Revolving Lenders), such balance shall be applied to satisfy other obligations of the Revolving Borrowers under this Agreement. If the Revolving Borrowers are required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default or the existence of a Defaulting Lender, such amount (to the extent not applied as aforesaid) shall be returned to the Revolving Borrowers within three Business Days of request for such return after all Events of Default have been cured or waived or after the termination of Defaulting Lender status, as applicable. If the Revolving Borrowers are required to provide an amount of cash collateral hereunder pursuant to Section 2.10(b), such amount (to the extent not applied as aforesaid) shall be returned to the Revolving Borrowers as and to the extent that, after giving effect to such return, the Revolving Borrowers would remain in compliance with Section 2.10(b) and no Event of Default shall have occurred and be continuing.

  • Obligation to Cash Collateralize At any time there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative Agent or the L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

  • Cash Collateralization If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i) of Article VII. Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower's risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived.

  • Indemnity Obligations Secured by Collateral; Survival Any amounts paid by any Indemnitee as to which such Indemnitee has the right to reimbursement shall constitute Obligations secured by the Collateral. The indemnity obligations of each Assignor contained in this Article VIII shall continue in full force and effect notwithstanding the full payment of all of the other Obligations and notwithstanding the full payment of all the Notes issued, and Loans made, under the Credit Agreement, the termination of all Letters of Credit issued under the Credit Agreement, the termination of all Interest Rate Protection Agreements and Other Hedging Agreements entered into with the Other Creditors and the payment of all other Obligations and notwithstanding the discharge thereof and the occurrence of the Termination Date.

  • Certain Cash Collateral Notwithstanding anything in this Agreement or any other Senior Lender Documents or Second Priority Documents to the contrary, collateral consisting of cash and deposit account balances pledged to secure Obligations under the Credit Agreement consisting of reimbursement obligations in respect of letters of credit or otherwise held by the First Lien Agent pursuant to Section 2.05 of the Credit Agreement (or any equivalent successor provision) shall be applied as specified in the Credit Agreement and will not constitute Common Collateral.

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