Common use of Offsets, Counterclaims and Defenses Clause in Contracts

Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 3 contracts

Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (Gladstone Commercial Corp)

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Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, agents or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall will take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall will be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.)

Offsets, Counterclaims and Defenses. Borrower hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it Borrower by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsLender. Any assignee of Lender’s interest in and to the Loan Documents or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Documents which Borrower may otherwise have against any assignor of such documentsthe Loan Documents, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 3 contracts

Samples: Pledge and Security Agreement (TNP Strategic Retail Trust, Inc.), Loan and Security Agreement (NNN 2003 Value Fund LLC), Loan and Security Agreement (NNN 2003 Value Fund LLC)

Offsets, Counterclaims and Defenses. Each Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses that are unrelated to the Loan Documents which any Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by any Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by each Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses that are unrelated to the Loan Documents which Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 2 contracts

Samples: Loan Agreement (United Investors Realty Trust), Loan Agreement (Fac Realty Trust Inc)

Offsets, Counterclaims and Defenses. Borrower Indemnitor hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it Indemnitor by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsIndemnitee. Any assignee of Lender’s interest in and to the Loan Documents or any successor of Indemnitee shall take the same free and clear of all offsets, counterclaims or defenses which Borrower are unrelated to the Loan Documents which Indemnitor may otherwise have against any assignor of such documentsthe Loan Documents, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower Indemnitor in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerIndemnitor.

Appears in 2 contracts

Samples: Environmental Indemnity Agreement (NNN 2003 Value Fund LLC), Environmental Indemnity Agreement (NNN 2003 Value Fund LLC)

Offsets, Counterclaims and Defenses. Borrower Pledgor hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it Pledgor by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsLender. Any assignee of Lender’s interest in and to the Loan Documents or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which Borrower are unrelated to the Loan Documents which Pledgor may otherwise have against any assignor of such documentsthe Loan Documents, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower Pledgor in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerPledgor.

Appears in 2 contracts

Samples: Pledge and Security Agreement (NNN 2003 Value Fund LLC), Pledge and Security Agreement (NNN 2003 Value Fund LLC)

Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it Borrower by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

Offsets, Counterclaims and Defenses. Borrower hereby unconditionally and irrevocably waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Agent or any Lender or its agents, including Servicer, their agents or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of any Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Varian Medical Systems Inc)

Offsets, Counterclaims and Defenses. Each of Owner and Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses that are unrelated to the Loan Documents which Owner or Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by Owner or Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Owner or Borrower.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Administrative Agent, any Lender or its their agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of a Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 1 contract

Samples: Loan Agreement (GTJ REIT, Inc.)

Offsets, Counterclaims and Defenses. Each Borrower hereby waives the right to assert a counterclaim, other than a mandatory or compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which any Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by any Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Offsets, Counterclaims and Defenses. Each Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all unrelated offsets, counterclaims or defenses which a Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by any Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by each Borrower.

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

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Offsets, Counterclaims and Defenses. Borrower and Indemnitor each hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it either of them by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsLender. Any assignee of Lender’s interest in and to the Loan Documents Document or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Document which Borrower or Indemnitor may otherwise have against any assignor of such documentsthe Loan Document, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower or Indemnitor in any action or proceeding brought by any such assignee upon such documents, and any the Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerBorrower and Indemnitor.

Appears in 1 contract

Samples: Wilshire Oil Co of Texas

Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 1 contract

Samples: Loan Agreement (GTJ REIT, Inc.)

Offsets, Counterclaims and Defenses. Borrower and Indemnitor each hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it either of them by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsTrustee. Any assignee of Lender’s interest in and to the Loan Documents Document ox xxx successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Document which Borrower or Indemnitor may otherwise have against any assignor of such documentsthe Loan Document, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower or Indemnitor in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerBorrower and Indemnitor.

Appears in 1 contract

Samples: Wilshire Oil Co of Texas

Offsets, Counterclaims and Defenses. Borrower hereby waives ----------------------------------- the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. Any assignee of Lender’s 's interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses that are unrelated to the Loan Documents which Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 1 contract

Samples: Loan Agreement (Saul Centers Inc)

Offsets, Counterclaims and Defenses. Borrower and Indemnitor each hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it either of them by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsTrustee. Any assignee of Lender’s interest in and to the Loan Documents Document or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Document which Borrower or Indemnitor may otherwise have against any assignor of such documentsthe Loan Document, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower or Indemnitor in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerBorrower and Indemnitor.

Appears in 1 contract

Samples: Wilshire Oil Co of Texas

Offsets, Counterclaims and Defenses. Borrower hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsLender. Any assignee of Lender’s interest in and to the Loan Documents or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Documents which Borrower may otherwise have against any assignor of such documentsthe Loan Documents, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower.

Appears in 1 contract

Samples: NNN 2003 Value Fund LLC

Offsets, Counterclaims and Defenses. The Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender the Trustee or its agents, including Servicer, or otherwise offset any obligations the Bondholder with respect to make payments required under the a Loan DocumentsPayment. Any assignee of LenderBondholder’s interest in and to the Loan Bond Documents shall take the same free and clear of all offsets, counterclaims or defenses that are unrelated to the Bond Documents which the Borrower may otherwise have against any assignor of such documents, and no such unrelated offset, counterclaim or defense shall be interposed or asserted by the Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by the Borrower.

Appears in 1 contract

Samples: Loan Agreement

Offsets, Counterclaims and Defenses. Borrower and Indemnitor each hereby knowingly waives the right to assert a any counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it either of them by Lender Xxxxxx or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan DocumentsTrustee. Any assignee of Lender’s interest in and to the Loan Documents Document or any successor of Lender shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to the Loan Document which Borrower or Indemnitor may otherwise have against any assignor of such documentsthe Loan Document, and no such offset, unrelated counterclaim or defense shall be interposed or asserted by Borrower or Indemnitor in any action or proceeding brought by any such assignee upon under such documents, and any Loan Document. Any such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by BorrowerBorrower and Indemnitor.

Appears in 1 contract

Samples: Wilshire Oil Co of Texas

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