Common use of Right of Set-off Clause in Contracts

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 172 contracts

Samples: Loan and Security Agreement (Syros Pharmaceuticals, Inc.), Loan and Security Agreement (Pliant Therapeutics, Inc.), Loan and Security Agreement (Verona Pharma PLC)

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Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 65 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement, Waiver and First Loan Modification Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliateor Lender Affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 21 contracts

Samples: Credit and Security Agreement (STRATA Skin Sciences, Inc.), Credit and Security Agreement (Recursion Pharmaceuticals, Inc.), Credit and Security Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 20 contracts

Samples: Loan and Security Agreement (Celcuity Inc.), Loan and Security Agreement (Rockwell Medical, Inc.), Loan and Security Agreement (MDxHealth SA)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 14 contracts

Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Tetraphase Pharmaceuticals Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 12 contracts

Samples: Loan Modification Agreement (Aspen Aerogels Inc), Loan Modification Agreement (Aspen Aerogels Inc), Loan Modification Agreement (Meru Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 11 contracts

Samples: Subordinated Business Loan and Security Agreement (Loop Media, Inc.), Subordinated Business Loan and Security Agreement (Perfect Moment Ltd.), Subordinated Business Loan and Security Agreement (Perfect Moment Ltd.)

Right of Set-off. In consideration of Bank’s agreement to enter into this EXIM Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 10 contracts

Samples: Export Import Bank (Stereotaxis, Inc.), Export Import Bank Fifth Loan Modification Agreement (Stereotaxis, Inc.), Export Import Bank Third Loan Modification Agreement (Stereotaxis, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Security Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 10 contracts

Samples: Loan and Security Agreement (Neuronetics, Inc.), Loan and Security Agreement (Neuronetics, Inc.), Loan and Security Agreement (Neuronetics, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders Lender (including a Collateral Agent affiliateLender subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 7 contracts

Samples: Loan and Security Agreement (Enphase Energy, Inc.), Loan and Security Agreement (Enphase Energy, Inc.), Loan and Security Agreement (Real Goods Solar, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower Borrower, even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 7 contracts

Samples: Waiver and Fourth Loan Modification Agreement, Ninth Loan Modification Agreement (Satcon Technology Corp), Eighth Loan Modification Agreement (Satcon Technology Corp)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 6 contracts

Samples: Loan Modification Agreement (A123 Systems, Inc.), Term Loan and Security Agreement (A123 Systems Inc), Loan Modification Agreement (A123 Systems, Inc.)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Accounts Receivable Financing Agreement (Visual Networks Inc), Loan Modification Agreement (Speechworks International Inc), Loan and Security Agreement (Visual Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 5 contracts

Samples: Loan and Security Agreement (Ardelyx, Inc.), Loan and Security Agreement (Rubius Therapeutics, Inc.), Loan and Security Agreement (Ardelyx, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Subordinated Loan and Security Agreement (Mavenir Systems Inc), Senior Loan and Security Agreement (Mavenir Systems Inc), Subordinated Loan and Security Agreement (Mavenir Systems Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender such Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders such Lender or any entity under the control of Collateral Agent or the Lenders such Lender (including a Collateral Agent affiliatesubsidiary of Lender) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders a Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (TorreyPines Therapeutics, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Loan Modification Agreement, Loan and Security Agreement (GAIN Capital Holdings, Inc.), Loan Modification Agreement (Meru Networks Inc)

Right of Set-off. Borrower Issuer and each Guarantor hereby grants grant to Collateral Agent and to each LenderPurchaser, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Issuer even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ISSUER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY ISSUER AND EACH GUARANTOR.

Appears in 5 contracts

Samples: Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Bank hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan and Security Agreement (Equinix Inc), Loan and Security Agreement (Ikanos Communications), Loan and Security Agreement (Ikanos Communications)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan and Security Agreement (Peregrine Pharmaceuticals Inc), Loan and Security Agreement (Peregrine Pharmaceuticals Inc), Loan and Security Agreement (Cryocor Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral the Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan and Security Agreement (Acclarent Inc), Loan and Security Agreement (3PAR Inc.), Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF OR SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAVED.

Appears in 4 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement (Meru Networks Inc), Loan Modification Agreement (Meru Networks Inc)

Right of Set-off. Borrower Each Loan Party hereby grants to Collateral Agent and to each Lender, subject to the sentence immediately following, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty of any Loan Party, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliate) Affiliate), or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, any Secured Party may, with the prior written consent of the Collateral Agent or the Lenders may Agent, set off the same or any part thereof and apply the same to any liability or obligation of Borrower any Loan Party even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ANY LOAN PARTY ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY EACH LOAN PARTY.

Appears in 4 contracts

Samples: Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an any Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even event though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement (Meru Networks Inc), Loan Modification Agreement (Meru Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a an Affiliate of Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 4 contracts

Samples: Loan and Security Agreement (Spectrum Pharmaceuticals Inc), Loan and Security Agreement (Rezolute, Inc.), Loan and Security Agreement (SOC Telemed, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders Lender (including a Collateral Agent Lender affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 3 contracts

Samples: Loan and Security Agreement (Rigetti Computing, Inc.), Loan and Security Agreement (Growth Capital Acquisition Corp.), Loan and Security Agreement (Supernova Partners Acquisition Co II, Ltd.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Third Loan Modification Agreement (NMS Communications Corp), Accounts Receivable Financing Agreement (Visual Networks Inc), Loan and Security Agreement (Visual Networks Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan Modification Agreement (Netscout Systems Inc), Loan Modification Agreement (Critical Therapeutics Inc), Loan Modification Agreement (Netscout Systems Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all of the rights, titles and interests of such Borrower in deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.)

Right of Set-off. The Borrower and each Guarantor hereby grants to Collateral Agent and to each Lender, Lender a liencontinuing Lien, security interest interest, and right of set off setoff as security for all liabilities and obligations to such Lender (including the Obligations to Collateral Agent and each Lender hereunderthe Guaranteed Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and propertyProperty, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders such Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower and the Guarantors), Collateral Agent or the Lenders each Lender may set off the same setoff them or any part thereof and apply the same them to any liability or obligation of the Borrower and/or any Guarantor (including the Obligations and/or the Guaranteed Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations or the Guaranteed Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER AND/OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Export Prepayment Finance Agreement (Adecoagro S.A.), Export Prepayment Facility Agreement (Adecoagro S.A.), Export Prepayment Finance Agreement (Adecoagro S.A.)

Right of Set-off. In consideration of Lenders’ agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each Lenderfor the benefit of the Lenders, a lien, security interest and right of set off as security for all Obligations owed to Collateral Agent and each Lender hereunderthe Lenders, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders any Lender (including a Collateral Agent affiliateSubsidiary thereof) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligations of Borrower even though unmatured and then due regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Third Loan Modification Agreement, Third Loan Modification Agreement (Vericel Corp), Second Loan Modification Agreement (Vericel Corp)

Right of Set-off. Borrower Each Grantor hereby grants to the Collateral Agent and to each Lender, for the benefit of the New Secured Parties a lien, security interest and right of set off setoff as security for all New Debenture Obligations to Collateral Agent and each Lender hereunderthe New Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Collateral Agent or the Lenders or any entity under the control of the Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of themAgent. At any time after the occurrence and during the continuance of an Event of DefaultDefault (as defined in the New Debentures), without demand or notice, the Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Grantors and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE THE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GRANTORS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Exchange Applications Inc), Security Agreement (Insight Venture Partners Iv Lp), Security Agreement (Kruttschnitt Theodore H Iii)

Right of Set-off. In consideration of Bank's agreement to enter into this ---------------- Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Third Loan Modification Agreement (LTX Corp), First Loan Modification Agreement (Seachange International Inc), Third Loan Modification Agreement (Seachange International Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Waiver Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Waiver Agreement (Stereotaxis, Inc.), Waiver Agreement (Stereotaxis, Inc.)

Right of Set-off. The Borrower hereby grants grant to Collateral Agent and to each Lender, the Lender a continuing lien, security interest interest, and right of set off setoff as security for all Obligations liabilities and obligations owned to Collateral Agent and each the Lender hereunder(including the Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower), Collateral Agent or the Lenders Lender may set off setoff the same or any part thereof and apply the same to any liability or obligation of the Borrower (including the Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Agreement (Navios South American Logistics Inc.), Agreement (Navios South American Logistics Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders Lender (including a Collateral Agent an Lender affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Complete Genomics Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: First Loan Modification Agreement (Ibasis Inc), Second Loan Modification Agreement (Ibasis Inc)

Right of Set-off. Borrower Issuer hereby grants to Collateral Agent and to each LenderPurchaser, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Issuer even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ISSUER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY ISSUER.

Appears in 2 contracts

Samples: Note Purchase Agreement (Senseonics Holdings, Inc.), Note Purchase and Exchange Agreement (Senseonics Holdings, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to for the benefit of each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Transenterix Inc.), Loan and Security Agreement (SafeStitch Medical, Inc.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral Collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers even though unmatured and regardless of the adequacy of any other collateral Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWERS ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Alphatec Holdings, Inc.), Loan and Security Agreement (Alphatec Holdings, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty constituting Collateral, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Visterra, Inc.), Loan and Security Agreement (Visterra, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty constituting Collateral of Borrower (other than accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of a Credit Party or Subsidiary’s employees and identified to Collateral Agent by Borrower as such), now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same such Collateral of Borrower or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Durata Therapeutics, Inc.), Loan and Security Agreement (Durata Therapeutics, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations, provided that Collateral Agent shall use commercially reasonable efforts to promptly notify Borrower in writing of any such set-off. Notwithstanding the foregoing, in no event shall Collateral Agent’s failure to notify Borrower pursuant to the foregoing sentence cause or result in any breach of this Agreement, subject Collateral Agent or any Lender to any liability or in any way limit or restrict any rights or remedies available to Collateral Agent or any Lender pursuant to this Agreement, any other Loan Document or otherwise. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sutro Biopharma Inc), Loan and Security Agreement (Sutro Biopharma Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Angie's List, Inc.), Loan and Security Agreement (Somaxon Pharmaceuticals, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent Agent, for its benefit and for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT OR ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Chimerix Inc), Loan and Security Agreement (Chimerix Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Administrative Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Administrative Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral the Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT AGENTS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp)

Right of Set-off. Borrower hereby grants to Collateral Administrative Agent and to each Lender, and each of their respective Affiliates and Subsidiaries, a continuing lien, security interest and right of set off setoff as security for all Obligations to Collateral Administrative Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Administrative Agent or the Lenders any Lender, or any entity under the control of Collateral Agent their Affiliates or the Lenders (including a Collateral Agent affiliate) Subsidiaries and their respective successors and assigns or in transit to any of them, other than third-party custodial, escrow or other trust accounts maintained by Borrower at Administrative Agent or any Lender or any of their respective Affiliates or Subsidiaries. At any time upon or after the occurrence and during the continuance continuation of an Event of Default, without demand or noticenotice (any such notice being expressly waived by Borrower), Collateral Administrative Agent or the Lenders any Lender or any of their respective Affiliates or Subsidiaries may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Obligations even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT OR ANY LENDER OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL, NON-ESCROW, NON-TRUST DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp), Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp)

Right of Set-off. Borrower Each Loan Parties hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Loan Parties even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Immunocore LTD), Loan and Security Agreement (Immunocore LTD)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Clarus Therapeutics Inc), Loan and Security Agreement (Clarus Therapeutics Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Amendment, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cardiovascular Systems Inc), Loan and Security Agreement (Cardiovascular Systems Inc)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest interest, and right of set set-off as security for all Obligations liabilities and obligations owned to Collateral Agent and each the Lender hereunder(including the Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower), Collateral Agent or the Lenders Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of the Borrower (including the Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER EACH OF THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: www.sec.gov, Navios South American Logistics Inc.

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 12.11 Reserved.

Appears in 2 contracts

Samples: Loan and Security Agreement (Regado Biosciences Inc), Loan and Security Agreement (Regado Biosciences Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent (for the benefit of the Secured Parties) and to each LenderPurchaser, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderthe Purchasers, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders and each Purchaser may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Note Purchase Agreement (Global Telecom & Technology, Inc.), Note Purchase Agreement (Global Telecom & Technology, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Third Loan Modification Agreement (Ibasis Inc), Fourth Loan Modification Agreement (Ibasis Inc)

Right of Set-off. Borrower The guarantor hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank of America Corporation and its successors and assigns, or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Defaulttime, without demand or noticenotice (any such notice being expressly waived by the Guarantor), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTES, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Guaranty (Balchem Corp), Balchem Corp

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliate) or in transit to any of them. At Subject to the requirements of Section 9.4, at any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (TRIA Beauty, Inc.), Loan and Security Agreement (TRIA Beauty, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral Collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hyperion Therapeutics Inc), Loan and Security Agreement (Ardea Biosciences, Inc./De)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, Lender a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders Lender (including a Collateral Agent Lender affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Metabasis Therapeutics Inc), Loan and Security Agreement (Metabasis Therapeutics Inc)

Right of Set-off. Borrower Debtor hereby grants to Collateral Agent and to each Lender, the Lender a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured the Borrowers then due and payable and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLIABILITIES, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE DEBTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Security Agreement (Motus GI Holdings, Inc.), Security Agreement (Motus GI Holdings, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a ---------------- lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Switchboard Inc)

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Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderPledgors, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderPledgors, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Pledgors or any entity under the control of Collateral Agent or the Lenders Pledgors (including a Collateral Agent affiliatePledgors subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Pledgors may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT PLEDGORS TO EXERCISE ITS THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS THEIR RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Note and Security Agreement (Braintech Inc)

Right of Set-off. Borrower The Corporate Guarantor hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) FleetBoston Financial Corporation and its successors and assigns, or in transit to any of them. At any time after following the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by the Corporate Guarantor), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Corporate Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTE, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE CORPORATE GUARANTOR OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Security Agreement (Balchem Corp)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, and their respective successors and assigns or in transit to any of them, other than third-party custodial accounts maintained by Borrower at Lender. At any time after the Upon occurrence and during the continuance of an Event of DefaultDefault with respect to the payment of any Obligation or in the performance of any of its duties under the Loan Documents, the Lender may, without Notice to or demand on the Borrower (which Notice or noticedemand the Borrower expressly waives), Collateral Agent set-off, appropriate or apply any property of the Lenders may set off Borrower held at any time by the same Lender, or any part thereof and apply indebtedness at any time owed by the same Lender to any liability or obligation for the account of Borrower even though unmatured and regardless of the adequacy of any other collateral securing a Borrower, against the Obligations, whether or not those Obligations have matured. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Warehouse Loan and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations (other than contingent indemnification obligations for which no claim has been made) to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliateor Lender Affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Credit and Security Agreement (BioNano Genomics, Inc)

Right of Set-off. Borrower Each Loan Party hereby grants to Collateral Administrative Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Administrative Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower or any of the other Loan Parties even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER SUCH LOAN PARTY ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY SUCH LOAN PARTY.

Appears in 1 contract

Samples: Loan and Security Agreement (Harrow Health, Inc.)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (Sonus Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Bank hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even EXECUTION COPY though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Equinix Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations, provided that Collateral Agent shall use commercially reasonable efforts to promptly notify Borrower in writing of any such set- off. Notwithstanding the foregoing, in no event shall Collateral Agent’s failure to notify Borrower pursuant to the foregoing sentence cause or result in any breach of this Agreement, subject Collateral Agent or any Lender to any liability or in any way limit or restrict any rights or remedies available to Collateral Agent or any Lender pursuant to this Agreement, any other Loan Document or otherwise. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Sutro Biopharma, Inc.)

Right of Set-off. Each Co-Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereundersuch Lender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders such Lender or any entity under the control of Collateral Agent or the Lenders such Lender (including a Collateral Agent affiliatesubsidiary of such Lender) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders such Lender may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Co-Borrowers even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER CO-BORROWERS, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Osprey Technology Acquisition Corp.)

Right of Set-off. Borrower hereby grants to Collateral Administrative Agent and to each Lender, and each of their respective Affiliates and Subsidiaries, a continuing lien, security interest and right of set off setoff as security for all Obligations to Collateral Administrative Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Administrative Agent or the Lenders any Lender, or any entity under the control of Collateral Agent their Affiliates or the Lenders (including a Collateral Agent affiliate) Subsidiaries and their respective successors and assigns or in transit to any of them, other than third-party custodial, escrow or other trust accounts maintained by Borrower at Administrative Agent or any Lender or any of their respective Affiliates or Subsidiaries. At any time upon or after the occurrence and during the continuance of an Event of DefaultDefault which has not been waived in writing by the Administrative Agent, without demand or noticenotice (any such notice being expressly waived by Borrower), Collateral Administrative Agent or the Lenders any Lender may set off or any of their respective Affiliates or Subsidiaries setoff the same or any part thereof and apply the same to any liability or obligation of Borrower the Obligations even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT OR ANY LENDER OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Borrower Issuer hereby grants to Collateral Agent and to each LenderPurchaser, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Purchaser hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Purchasers or any entity under the control of Collateral Agent or the Lenders Purchasers (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Purchasers may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Issuer even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ISSUER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Note Purchase Agreement (Invitae Corp)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, and their respective successors and assigns or in transit to any of them, other than third-party custodial accounts maintained by Borrower at Lender. At any time after the Upon occurrence and during the continuance of an Event of DefaultDefault with respect to the payment of any Obligation or in the performance of any of its duties under the Loan Documents, the Lender may, without Notice to or demand on the Borrower (which Notice or noticedemand the Borrower expressly waives), Collateral Agent set-off, appropriate or apply any property of the Lenders may set off Borrower held at any time by the same Lender, or any part thereof and apply indebtedness at any time owed by the same Lender to any liability or obligation for the account of Borrower even though unmatured and regardless of the adequacy of any other collateral securing a Borrower, against the Obligations, whether or not those Obligations have matured. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Borrower hereby grants to Administrative Agent, Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral such Secured Party (including an Affiliate of the Administrative Agent or the Lenders (including a Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE ADMINISTRATIVE AGENT OR COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Loan and Security Agreement (Gamida Cell Ltd.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of a Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Ligand Pharmaceuticals Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender the Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a an Affiliate of Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Loan and Security Agreement (Axcella Health Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each LenderLeader, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (GAIN Capital Holdings, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a an Affiliate of Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.WAIVED BY BORROWER. 45

Appears in 1 contract

Samples: Loan and Security Agreement (Arcutis Biotherapeutics, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Tranzyme Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. CONFIDENTIALITY. Bank may use confidential information for the development of databases, reporting purposes, and market analysis, so long as such confidential information is aggregated and anonymized prior to distribution unless otherwise expressly permitted by Borrower. The provisions of the immediately preceding sentence shall survive the termination of the Loan Agreement.

Appears in 1 contract

Samples: First Loan Modification Agreement (Stereotaxis, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank or in transit to any of them. At any time after the occurrence and during During the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and any guarantor then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Onesource Information Services Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Epresence Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of If an Event of DefaultDefault has occurred and is continuing, without demand or prior notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. Bank will notify Borrower of any such set off, provided that failure to give such notice shall not affect Bank’s rights under this Section 12.10. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Datawatch Corp)

Right of Set-off. Borrower The guarantor hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) FleetBoston Financial Corporation and its successors and assigns, or in transit to any of them. At any time after following the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by the Guarantor), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTES, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Balchem Corp

Right of Set-off. Borrower hereby grants to Collateral the Agent and to each Lender, Lender a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderObligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any Lender, any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) any Lender and its successors and assigns or in transit to any of them. At any time after time, without demand or notice (any such notice being expressly waived, to the extent permitted by law, by Borrower), upon the occurrence of and during the continuance continuation of an Event of Default, without demand or notice, Collateral Agent or Default the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDERS TO EXERCISE ITS THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Five9, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation Obligations of Borrower even though unmatured then due and payable regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Exa Corp)

Right of Set-off. Borrower Guarantor hereby grants to Collateral Agent and to each LenderPurchaser, a lien, security interest and right of set off as security for all Obligations Liabilities to Collateral Agent and each Lender hereunderPurchaser, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Purchaser or any entity under the control of Collateral Agent or the Lenders Purchaser (including a Collateral Agent affiliatePurchaser subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Purchaser may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLiabilities. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT PURCHASER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER GUARANTOR ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, GUARANTOR AND PURCHASER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE NOTE DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

Appears in 1 contract

Samples: Security Agreement (Global Telecom & Technology, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Loan and Security Agreement (Axcella Health Inc.)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE TEE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (GTC Biotherapeutics Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent Agent, for the benefit of itself and to each LenderLenders, a lienLien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender hereunderObligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Agent, any Lender or any entity under the control of Collateral Agent or the Lenders a Lender (including a Collateral an Agent affiliateor Lender subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or or, at the Lenders direction of Agent, any Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lenderfor the benefit of the Lenders, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Selecta Biosciences Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Administrative Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Administrative Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral the Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT AGENTS TO EXERCISE ITS THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (LendingClub Corp)

Right of Set-off. Borrower hereby grants to Collateral Administrative Agent and to each Lender, and each of their respective Affiliates and Subsidiaries, a continuing lien, security interest and right of set off setoff as security for all Obligations to Collateral Administrative Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Administrative Agent or the Lenders any Lender, or any entity under the control of Collateral Agent their Affiliates or the Lenders (including a Collateral Agent affiliate) Subsidiaries and their respective successors and assigns or in transit to any of them, other than third-party custodial, escrow or other trust accounts maintained by Borrower at Administrative Agent or any Lender or any of their respective Affiliates or Subsidiaries . At any time upon or after the occurrence and during the continuance of an Event of DefaultDefault which has not been waived in writing by the Administrative Agent, without demand or noticenotice (any such notice being expressly waived by Borrower), Collateral Administrative Agent or the Lenders any Lender may set off or any of their respective Affiliates or Subsidiaries setoff the same or any part thereof and apply the same to any liability or obligation of Borrower the Obligations even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT OR ANY LENDER OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all 4 Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 12.

Appears in 1 contract

Samples: Loan Modification Agreement

Right of Set-off. Borrower Each Grantor and any guarantor hereby grants grant to Collateral Agent and to each Lenderthe Secured Parties, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderthe Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Secured Parties or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of themSecured Parties. At any time after the occurrence and during the continuance of an Event of DefaultDefault (as defined in the Convertible Debentures), without demand or notice, Collateral Agent or the Lenders Secured Parties may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Grantors and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE SECURED PARTIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GRANTORS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Security Agreement (Exchange Applications Inc)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Bank a lien, security interest and a right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderthe Obligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank, or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Defaulttime, without demand or notice, Collateral Agent or upon an Event of Default, the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of the Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. The Bank shall not be required to marshal any present or future security for, or guarantees of, the Obligations or to resort to any such security or guarantee in any particular order and the Borrower waives, to the fullest extent that it lawfully can, (a) any right it might have to require the Bank to pursue any particular remedy before proceeding against it and (b) any right to the benefit of, or to direct the application of the proceeds of any collateral until the Obligations are paid in full.

Appears in 1 contract

Samples: Loan Agreement (Precision Optics Corporation, Inc.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, the Lender a lien, security interest interest, and a right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral collateral, and property, now or hereafter in the possession, custody, safekeeping safekeeping, or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Defaulttime, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of the Borrower even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS CREDITS, OR OTHER PROPERTY OF BORROWER EACH BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY VOLUNTARILY, AND IRREVOCABLY WAIVED. The Lender shall not be required to marshal any present or future security for, or guarantees of, the Obligations or to resort to any such security or guarantee in any particular order and each Borrower waives, to the fullest extent that it lawfully can, (a) any right they might have to require the Lender to pursue any particular remedy before proceeding against them and (b) any right to the benefit of, or to direct the application of the proceeds of any collateral until the Obligations are paid in full.

Appears in 1 contract

Samples: Loan and Security Agreement (Arrhythmia Research Technology Inc /De/)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Lenders hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or and each Lender any entity under the control of Collateral Agent or the Lenders and each Lender (including a Collateral Agent affiliatean Affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders and each Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT OR LENDERS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWERS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Equinix Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower herby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: First Loan Modification and Forbearance Agreement (Energy Focus, Inc/De)

Right of Set-off. In consideration of Bank's agreement to enter into this ---------------- Loan Modification Agreement, Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Fourth Loan Modification Agreement (Centra Software Inc)

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