Common use of Enforcement of Payment; Credit Security; Setoff Clause in Contracts

Enforcement of Payment; Credit Security; Setoff. The Agent on behalf of the Lenders may (and upon written request of the Lenders holding at least one-third of the Aggregate Percentage Interests in the Loan the Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, to cancel, or instruct 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 Credit Security. The Lenders 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; Credit Security; Setoff. The Agent on behalf of the Lenders may (and upon written request of the Required Lenders holding at least one-third of the Aggregate Percentage Interests in the Loan the Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, to cancel, or instruct other Letter of Credit Issuers to cancel, any outstanding Letters of Credit which permit the cancellation thereof elect and to realize upon any and all rights in any collateral securing the Credit SecurityObligations. Each Issuing Bank may (and upon written request of Required Lenders each Issuing Bank shall) proceed to cancel any outstanding Letters of Credit issued by such Issuing Bank which permit the cancellation thereof. The Lenders may offset and apply toward the payment of the Credit Obligations (and/or or toward the curing of any Event of Default) any Indebtedness from the Lenders any Lender to the respective Obligors, including any Indebtedness represented by deposits in any account maintained with the Lendersany Lender, 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; Credit Security; Setoff. The Agent on ----------------------------------------------- behalf of the Lenders may (and upon written request of the Required Lenders holding at least one-third of the Aggregate Percentage Interests in the Loan the Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, to cancel, or instruct 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 Credit Security. The Lenders 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; Credit Security; Setoff. The Agent on behalf of the Lenders may (and upon written request of the Required Lenders holding at least one-third of the Aggregate Percentage Interests in the Loan the Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, to cancel, or instruct other Letter of Credit Issuers to cancel, any outstanding Letters of Credit which permit the cancellation thereof elect and to realize upon any and all rights in any collateral securing the Credit SecurityObligations. Each Issuing Bank may (and upon written request of the Required Lenders each Issuing Bank shall) proceed to cancel any outstanding Letters of Credit issued by such Issuing Bank which permit the cancellation thereof. The Lenders may offset and apply toward the payment of the Credit Obligations (and/or or toward the curing of any Event of Default) any Indebtedness from the Lenders any Lender to the respective Obligors, including any Indebtedness represented by deposits in any account maintained with the Lendersany Lender, 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; Credit Security; Setoff. The Managing Agent on behalf of the Lenders may (and upon written request of the Required Lenders holding at least one-third of the Aggregate Percentage Interests in the Loan the Managing Agent shall) proceed to enforce payment of the Credit Obligations in such manner as it may elect, to cancel, or instruct other Letter of Credit Issuers to cancel, any outstanding Letters of Credit which permit the cancellation thereof and and, in cooperation with the Collateral Agent, to realize upon any and all rights in the Credit Security. The Lenders 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.