Deposits; Set Off. Regardless of the adequacy of any other collateral held by the Bank, any deposits or other sums credited by or due from the Bank to the Borrower will at all times constitute collateral security for all Obligations and may be set off against any and all liabilities, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, to Bank. The rights granted by this paragraph will be in addition to the rights of the Bank under any statutory banker’s lien or right of common law set off.
Deposits; Set Off. If any Event of Default occurs hereunder, Lender may offset and apply any and all monies, balances, accounts and deposits (including certificates of deposit) of the Company at Lender now or at any time hereafter toward the payment of the Note, whether or not the Note, or any part thereof, shall then be due. Promptly upon its charging any account of the Company pursuant to this Section, Lender shall give the Company notice thereof.
Deposits; Set Off. If any Event of Default occurs hereunder, each Bank may offset and apply any such security toward the payment of the Note or Notes held by such Bank, whether or not such Note or Notes, or any part thereof, shall then be due. Promptly upon its charging any account of the Company pursuant to this section, such Bank shall give the Company notice thereof. CONDITIONS OF BORROWING Without limiting any of the other terms of this Agreement, none of the Banks shall be required to make any Loan to the Company hereunder or issue any Letter of Credit unless each of the following conditions has been satisfied:
Deposits; Set Off. If any Event of Default occurs hereunder, each Bank may offset and apply any such security toward the payment of the Note or Notes held by such Bank, whether or not such Note or Notes, or any part thereof, shall then be due. Promptly upon its charging any account of the Company pursuant to this section, such Bank shall give the Company notice thereof.
Deposits; Set Off. Borrower grants Lender, as security for the Obligations, a lien and security interest in any and all monies, balances, accounts and deposits (including certificates of deposit but excluding payroll, trust, fiduciary, escrow and tax withholding accounts) of Borrower at Lender now or at any time hereafter. If any Event of Default occurs and is continuing hereunder or any attachment of any balance of Borrower occurs, Lender may offset and apply any such security toward the payment of the Obligations, whether or not such Obligations, or any part thereof, shall then be due. Promptly upon its charging any account of Borrower pursuant to this Section, Lender shall give Borrower notice thereof.
Deposits; Set Off. The Borrower grants the Lender, as security for the Term Note, a lien and security interest in any and all monies, balances, accounts and deposits (including certificates of deposit) of the Borrower at the Lender now or at any time hereafter, including, but not limited to the Collateral Account. If any Event of Default occurs hereunder or any attachment of any balance of the Borrower occurs, the Lender may offset and apply any such security toward the payment of the Term Note, whether or not such Term Note, or any part thereof, shall then be due. Promptly upon its charging any account of the Borrower pursuant to this Section, the Lender shall give the Borrower notice thereof.
Deposits; Set Off. The Company grants each Bank, as security for the Notes, a lien and security interest in any and all monies, balances, accounts and deposits (including certificates of deposit) of the Company at such Bank now or at any time hereafter. If any Event of Default occurs hereunder or any attachment of any balance of the Company occurs, each Bank may offset and apply any such security toward the payment of the Note or Notes held by such Bank, whether or not such Note or Notes, or any part thereof, shall then be due. Promptly upon its charging any account of the Company pursuant to this section, such Bank shall give the Company notice thereof.
Deposits; Set Off. Any deposits or other sums credited by or due from the Bank or any of its participants, assignees or Affiliates to the Borrower or any of its Subsidiaries shall at all times constitute security for the Obligation of the Borrower to the Bank and, upon the occurrence of an Event of Default, may be set off against any and all liabilities, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, of the Borrower to the Bank, and the Borrower hereby irrevocably authorizes the Bank and any of its participants, assignees or Affiliates to make such setoff. The rights granted by this Section 12.13 are in addition to any other rights of the Bank including, without limitation, any rights of set-off under any statutory bankers' lien and under any of the Loan Papers. Notwithstanding the foregoing, specifically excepted from this Section 12.13 shall be funds managed by, under the custody of or placed in escrow accounts with the trust department of the Bank or its participants, assignees or Affiliates for purposes of providing future delivery of goods, property and services, which funds shall not be subject to set-off pursuant hereto.
Deposits; Set Off. Any deposits or other sums credited by or due from the Agent or any of the Banks or any of their Participants, assignees or Affiliates to the Borrowers or any of the other Subsidiaries shall at all times constitute security for the Obligation and, upon the occurrence of an Event of Default as defined in Section 6.01 of this Agreement, may be set off against any and all liabilities, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, of the Borrowers to the Agent or the Banks, and the Borrowers hereby irrevocably authorize Agent, each of the Banks and any of their Participants, assignees or Affiliates to make such set- off. The rights granted by this Section 7.13 are in addition to any other rights of the Agent and the Banks including, without limitation, any rights of set-off under any statutory bankers' Lien and under any of the Loan Papers. Notwithstanding the foregoing, specifically excepted from this Section 7.13 shall be funds managed by, under the custody of or placed in escrow accounts (identified as such) with any of the Banks or their Participants, assignees or Affiliates for purposes of providing future delivery of goods, property and services, which funds shall not be subject to set-off pursuant hereto.
Deposits; Set Off. The Company grants each Bank, as security for the Notes, a lien and security interest in any and all monies, balances, accounts and deposits (including certificates of deposit) of the Company at such Bank now or at any time hereafter. If any Event of Default occurs hereunder or any attachment of any balance of the Company occurs, each Bank may offset and apply any such security toward the payment of the Note or Notes held by such Bank, whether or not such Note or Notes, or any part thereof, shall then be due.
