Common use of Overdrafts; Set-off Clause in Contracts

Overdrafts; Set-off. Navigant may, but shall not be obligated to, complete any transaction in connection with providing the Services if there are insufficient available funds in Member’s Account(s) to complete the transaction. In the event any actions by Member result in an overdraft in any of Member’s Deposit Accounts, including but not limited to Member’s failure to maintain sufficient balances in any of Member’s Deposit Accounts, Member shall be responsible for repaying the overdraft immediately and without notice or demand. Navigant has the right, in addition to all other rights and remedies available to it, to set-off the unpaid balance of any amount owed it in connection with the Services against any debt owing to Member by Navigant, including, without limitation, any obligation under a repurchase agreement or any funds held at any time by Navigant, whether collected or in the process of collection, or in any other Account maintained by Member at or evidenced by any certificate of deposit issued by Navigant. If any of Member’s Deposit Accounts become overdrawn, under-funded or for any reason contain a negative balance, then Navigant shall have the right of set-off against all of Member’s Deposit Accounts and other property or Accounts maintained at Navigant, and Navigant shall have the right to enforce its interests in collateral held by it to secure debts of Member to Navigant arising from notes or other indebtedness now or hereafter owing or existing under this Agreement, whether or not matured or liquidated.