Common use of RIGHT OF SETOFF; DEPOSIT ACCOUNTS Clause in Contracts

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of an Event of Default, (a) Company hereby authorizes Banks, at any time and from time to time, without notice, which is hereby expressly waived by Company, and whether or not Banks shall have declared the Obligation to be due and payable in accordance with the terms hereof, to set off against, and to appropriate and apply to the payment of, Company's obligations and liabilities under the Loan Documents (whether matured or unmatured, fixed or contingent, liquidated or unliquidated), any and all amounts owing by Banks to Company (whether payable in U.S. dollars or any other currency, whether matured or unmatured, and in the case of deposits, whether general or special (except trust and escrow accounts), time or demand and however evidenced), and (b) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such obligations and liabilities and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so held as Banks, in their sole discretion, may elect. Company hereby grants to Banks a security interest in all deposits and accounts maintained with Banks and with any other financial institution to secure the payment of all obligations and liabilities of Company to Banks under the Loan Documents.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of an Event of Default, (ai) Company Borrower hereby authorizes BanksBank, at any time and from time to time, without notice, which is hereby expressly waived by CompanyBorrower, and whether or not Banks Bank shall have declared the Obligation this Note to be due and payable in accordance with the terms hereof, to set off against, and to appropriate and apply to the payment of, Company's Borrower’s obligations and liabilities under the Loan Documents this Note (whether matured or unmatured, fixed or contingent, liquidated or unliquidated), any and all amounts owing by Banks Bank to Company Borrower (whether payable in U.S. dollars or any other currency, whether matured or unmatured, and in the case of deposits, whether general or special (except trust and escrow accounts), time or demand and however evidenced), and (bii) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such obligations and liabilities and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so held as BanksBank, in their its sole discretion, may elect. Company Borrower hereby grants to Banks Bank a security interest in all deposits and accounts maintained with Banks Bank and with any other financial institution to secure the payment of all obligations and liabilities of Company Borrower to Banks Bank under the Loan Documentsthis Note.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of an Event of Default, (ai) Company Borrower hereby authorizes BanksBank, at any time and from time to time, without notice, which is hereby expressly waived by CompanyBorrower, and whether or not Banks Bank shall have declared the Obligation this Note to be due and payable in accordance with the terms hereof, to set off against, and to appropriate and apply to the payment of, CompanyBorrower's obligations and liabilities under the Loan Documents this Note (whether matured or unmatured, fixed or contingent, liquidated or unliquidated), any and all amounts owing by Banks Bank to Company Borrower (whether payable in U.S. dollars or any other currency, whether matured or unmatured, and in the case of deposits, whether general or special (except trust and escrow accounts), time or demand and however evidenced), and (bii) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such obligations and liabilities and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so held as BanksBank, in their its sole discretion, may elect. Company Borrower hereby grants to Banks Bank a security interest in all deposits and accounts maintained with Banks Bank and with any other financial institution to secure the payment of all obligations and liabilities of Company Borrower to Banks Bank under the Loan Documents.this Note. Gadzooks Second Amended and Restated Revolving Line of Credit Note

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of an Event of Default, (ai) Company Borrower hereby authorizes BanksBank, at any time and from time to time, without notice, which is hereby expressly waived by CompanyBorrower, and whether or not Banks Bank shall have declared the Obligation this Note to be due and payable in accordance with the terms hereof, to set off against, and to appropriate and apply to the payment of, CompanyBorrower's obligations and liabilities under the Loan Documents this Note (whether matured or unmatured, fixed or contingent, liquidated or unliquidated), any and all amounts owing by Banks Bank to Company Borrower (whether payable in U.S. dollars or any other currency, whether matured or unmatured, and in the case of deposits, whether general or special (except trust and escrow accounts), time or demand and however evidenced), and (bii) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such obligations and liabilities and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so held as BanksBank, in their its sole discretion, may elect. Company Borrower hereby grants to Banks Bank a security interest in all deposits and accounts maintained with Banks Bank and with any other financial institution to secure the payment of all obligations and liabilities of Company to Banks under the Loan Documents.the