Lender’s Right of Set-Off. Upon the occurrence of an Event of Default, or if Lender shall be served with garnishment process in which Borrower shall be named as defendant, whether or not any Event of Default shall have occurred, Lender may, but shall not be required to, set-off any indebtedness owing by Lender to Borrower against any of the Indebtedness without first resorting to the security hereunder and without prejudice to any other rights or remedies of Lender or its security interest herein.
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Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory and Development Loan and Security Agreement (Silverleaf Resorts Inc)
Lender’s Right of Set-Off. Upon the occurrence of an Event of Default, ------------------------- or if Lender shall be served with garnishment process in which Borrower shall be named as defendant, whether or not any Event of Default shall have occurred, Lender may, but shall not be required to, set-off any indebtedness owing by Lender to Borrower against any of the Indebtedness without first resorting to the security hereunder and without prejudice to any other rights or remedies of Lender or its security interest herein.
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Samples: Loan and Security Agreement (Signature Resorts Inc)
Lender’s Right of Set-Off. Upon the occurrence of an Event of ------------------------- Default, or if Lender shall be served with garnishment process in which Borrower shall be named as defendant, whether or not any Event of Default shall have occurred, Lender may, but shall not be required to, set-off any indebtedness owing by Lender to Borrower against any of the Indebtedness Obligations without first resorting to the security hereunder and without prejudice to any other rights or remedies of Lender or its security interest herein.
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Lender’s Right of Set-Off. Upon the occurrence of an Event of -------------------------- Default, or if Lender shall be served with garnishment process in which Borrower shall be named as defendant, whether or not any Event of Default shall have occurred, Lender may, but shall not be required to, set-off any indebtedness owing by Lender to Borrower against any of the Indebtedness without first resorting to the security hereunder and without prejudice to any other rights or remedies of Lender or its security interest herein.
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