Lien and Set Off. (a) The Bank shall have a lien on all assets (movable and immovable) of the Borrower and/or the Security Party deposited with, or in the possession, custody or control of the Bank or its nominee for as long as the Facility remains outstanding and/or are made available to the Borrower. The Bank may exercise any rights in relation to set-off, combination or consolidation of accounts in accordance with the Letter of Offer. (b) Neither the Borrower nor the Security Party may set off or counter claim against the Bank any liability owed by the Bank to the Borrower and/or the Security Party until the Indebtedness is fully paid.
Appears in 5 contracts
Samples: Conventional Property Financing Facility Agreement, Conventional Property Financing Facility Agreement, Conventional Staff Facility Agreement
