Common use of Postponement of Set-Off Etc Clause in Contracts

Postponement of Set-Off Etc. Until this Agreement has been terminated in accordance with Section 3.4, the Obligor shall not claim any set-off or counterclaim against the Borrower as a result of any liability of the Borrower to the Obligor, or claim or prove in the bankruptcy or insolvency of the Borrower in competition with the Lender.

Appears in 2 contracts

Samples: Guarantee and Indemnity (Yappn Corp.), Guarantee and Indemnity (Yappn Corp.)

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Postponement of Set-Off Etc. Until this Agreement has been terminated in accordance with Section 3.4, the Obligor shall not claim any set-off or counterclaim against the Borrower as a result of any liability of the Borrower to the Obligor, or claim or prove in the bankruptcy or insolvency of the Borrower in competition with the LenderSecured Parties.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

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Postponement of Set-Off Etc. Until this Agreement has been terminated in accordance with Section 3.43.3, the Obligor shall not claim any set-off or counterclaim against the Borrower as a result of any liability of the Borrower to the Obligor, or claim or prove in the bankruptcy or insolvency of the Borrower in competition with the Lender.

Appears in 1 contract

Samples: Secured Promissory Note (Enerkem Inc.)

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