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

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of any Event of Default, the Lender is hereby authorized by the Borrower, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of the Borrower under the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the Lender to the Borrower (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the Lender in its sole discretion may elect. The Borrower hereby grants to the Lender a security interest in all deposits and accounts maintained with the Lender and with any other financial institution. The Lender is authorized to debit any account maintained with it by the Borrower for any amount of principal, interest or fees which are then due and owing to the Lender.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of any Event of Default, the each Lender is hereby authorized by the Borrower, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of the Borrower under the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the such Lender to the Borrower (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the such Lender in its sole discretion may elect. The Borrower hereby grants to the each Lender a security interest in all deposits and accounts maintained with the Lender and with any other financial institutionthat Lender. The rights of each Lender is authorized under this Section are in addition to debit any account maintained with it by the Borrower for any amount other rights and remedies (including other rights of principal, interest or fees set-off) which are then due and owing to the Lendersuch Lender may have.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of any Event of Default, the Lender is hereby authorized by the Borrower, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of the Borrower under the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the such Lender to the Borrower Borrowers (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the such Lender in its sole discretion may elect. The Borrower hereby grants to rights of the Lender a security interest under this Section are in all deposits addition to other rights and accounts maintained with the remedies (including other rights of set-off) which such Lender and with any other financial institution. The Lender is authorized to debit any account maintained with it by the Borrower for any amount of principal, interest or fees which are then due and owing to the Lendermay have.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of any Event of Default, the Lender is hereby authorized by the Borrower, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of any member of the Borrower Company Group under any of the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the Lender to the Borrower (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the Lender in its sole discretion may elect. The Borrower hereby grants to the Lender a security interest in all deposits and accounts maintained with the Lender and with any other financial institutionLender. The rights of the Lender is authorized under this Section are in addition to debit any account maintained with it by other rights and remedies (including other rights of set-off) which the Borrower for any amount of principal, interest or fees which are then due and owing to the LenderLender may have.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the --------------------------------- occurrence of any Event of Default, the each Lender is hereby authorized by the BorrowerBorrowers, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of the Borrower Borrowers under the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the such Lender to the Borrower Borrowers (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the such Lender in its sole discretion may elect. The Borrower Borrowers hereby grants grant to the each Lender a security interest in all deposits and accounts maintained with the Lender and with any other financial institutionthat Lender. The rights of each Lender is authorized under this Section are in addition to debit any account maintained with it by the Borrower for any amount other rights and remedies (including odds rights of principal, interest or fees set off) which are then due and owing to the Lendersuch Lender may have.

RIGHT OF SETOFF; DEPOSIT ACCOUNTS. Upon and after the occurrence of any Event of Default, the Lender is hereby authorized by the Borrower, at any time and from time to time, without notice, (a) to set off against, and to appropriate and apply to the payment of, the obligations and liabilities of the Borrower under the Loan Documents (whether matured or unmatured, fixed or contingent or liquidated or unliquidated) any and all amounts owing by the Lender to the Borrower (whether payable in Dollars or any other currency, whether matured or unmatured, and, in the case of deposits, whether general or special, 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 the Lender in its sole discretion may elect. The Borrower hereby grants to the Lender a security interest in all deposits and accounts maintained with the Lender and with any other financial institutionLender. The rights of the Lender is authorized under this Section are in addition to debit any account maintained with it by other rights and remedies (including other rights of set-off) which the Borrower for any amount of principal, interest or fees which are then due and owing to the LenderLender may have.