Common use of Enforcement of Payment; Collateral; Setoff Clause in Contracts

Enforcement of Payment; Collateral; Setoff. Upon request of the Required Lenders, the Administrative Agent on behalf of the Lenders shall proceed to enforce payment of the Obligations in such manner as it may elect, and to cancel, or instruct the L/C Issuer to cancel, any outstanding Letters of Credit which permit the cancellation thereof and to realize upon any and all rights in the Collateral. The Lenders and their Affiliates may offset and apply toward the payment of the Obligations (and/or toward the curing of any Event of Default) any Indebtedness from the Lenders to the respective Obligors, including any Indebtedness represented by deposits in any account maintained with the Lenders, regardless of the adequacy of any security for the Obligations. The Lenders shall have no duty to determine the adequacy of any such security in connection with any such offset.

Enforcement of Payment; Collateral; Setoff. Upon request of the Required Lenders, the Administrative Agent on behalf of the Lenders shall proceed to enforce payment of the Obligations in such manner as it may elect, and to cancel, or instruct the L/C Issuer to cancel, any outstanding Letters of Credit which permit the cancellation thereof and to realize upon any and all rights in the Collateral. The Lenders and their Affiliates may offset and apply toward the payment of the Obligations (and/or toward the curing of any Event of Default) any Indebtedness from the Lenders to the respective ObligorsLoan Parties, including any Indebtedness represented by deposits in any account maintained with the Lenders, regardless of the adequacy of any security for the Obligations. The Lenders shall have no duty to determine the adequacy of any such security in connection with any such offset.

Enforcement of Payment; Collateral; Setoff. Upon request of the Required Lenders, the The Administrative Agent on behalf of the Lenders shall may (and upon written request of the Required Lenders the Adminis- Table of Contents trative Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, and to cancel, or instruct the L/C Issuer other Letter of Credit Issuers to cancel, any outstanding Letters of Credit which permit the cancellation thereof and to realize upon any and all rights in the Collateral. The Lenders and their Affiliates may offset and apply toward the payment of the Credit Obligations (and/or toward the curing of any Event of Default) any Indebtedness from the Lenders to the respective Obligors, including any Indebtedness represented by deposits in any account maintained with the Lenders, regardless of the adequacy of any security for the Credit Obligations. The Lenders shall have no duty to determine the adequacy of any such security in connection with any such offset.

Enforcement of Payment; Collateral; Setoff. Upon request of the Required Lenders, the The Administrative Agent on behalf of the Lenders shall may (and upon written request of the Required Lenders the Administrative Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, and to cancel, or instruct the L/C Issuer other Letter of Credit Issuers to cancel, any outstanding Letters of Credit which permit the cancellation thereof and to realize upon any and all rights in the Pledged Collateral. The Lenders and their Affiliates may offset and apply toward the payment of the Credit Obligations (and/or toward the curing of any Event of Default) any Indebtedness from the Lenders to the respective Obligors, including any Indebtedness represented by deposits in any account maintained with the Lenders, regardless of the adequacy of any security for the Credit Obligations. The Lenders shall have no duty to determine the adequacy of any such security in connection with any such offset.