Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, each Bank is hereby authorized at any time and from time to time without notice to the Applicant (any such notice being expressly waived by the Applicant), and to the fullest extent permitted by law, to setoff, to exercise any banker’s lien or any right of attachment and apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies at any time held and other indebtedness at any time owing by such Bank to or for the account of the Applicant (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and such Bank is authorized to convert such accounts, monies and indebtedness into United States dollars) against any and all of the Obligations of the Applicant, whether or not such Bank shall have made any demand for any amount owing to such Bank by the Applicant.
Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, the Bank is hereby authorized at any time and from time to time without notice to the City (any such notice being expressly waived by the City), and to the fullest extent permitted by law, to setoff, to exercise any banker’s lien or any right of attachment and to apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies of the Enterprise at any time held by the Bank which secures (A) Indebtedness of the City secured by a Lien on General Airport Revenues on a parity with or subordinate to the Lien on General Airport Revenues securing the Payment Obligations hereunder or Indebtedness of the City payable from General Airport Revenues on a priority which is on a parity with or subordinate to Payment Obligations hereunder, or (B) Indebtedness at any time owing by the Bank to or for the account of the City which the payment by the Bank to the City would constitute General Airport Revenues which would secure Indebtedness of the City secured by a Lien on General Airport Revenues on a parity with or subordinate to the Lien on General Airport Revenues securing the Payment Obligations hereunder (irrespective of the currency in which such accounts, monies or Indebtedness may be denominated and the Bank is authorized to convert such accounts, monies and Indebtedness into United States dollars) against any and all of the obligations of the City in respect of the Enterprise hereunder, whether or not the Bank shall have made any demand hereunder or thereunder. Notwithstanding anything set forth herein to the contrary, no provision of this Section 11.6 shall be effective to the extent it contravenes any provision of the Master Bond Resolution or the Issuing and Paying Agent Agreement.
Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, each Lender and each of its Affiliates with an economic interest in Loans or Letters of Credit is hereby authorized at any time and from time to time without notice to the Parent or the Borrower (any such notice being expressly waived by the Parent and the Borrower), and to the fullest extent permitted by law, to setoff, to exercise any banker’s lien or any right of attachment and apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies at any time held and other indebtedness at any time owing by such Lender or Affiliate with an economic interest in Loans or Letters of Credit to or for the account of the Borrower (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and such Lender or Affiliate with an economic interest in Loans or Letters of Credit is authorized to convert such accounts, monies and indebtedness into United States dollars) against any and all of the payment obligations of the Borrower, whether or not such Lender or Affiliate with an economic interests in Loans or Letters of Credit shall have made any demand for any amount owing to such Lender or Affiliate with an economic interest in Loans or Letters of Credit by the Borrower. Each Lender will promptly notify the Administrative Agent after any such setoff, exercise or application made by such Lender or its Affiliates; provided that the failure to give such notice shall not affect the validity of such setoff, exercise or application.
Right of Setoff; Other Collateral. (a) In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence of any Event of Default, each Bank is hereby authorized by the Company at any time or from time to time, without notice to the Company or to any other Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including, but not limited to, indebtedness evidenced by certificates of deposit, whether matured or unmatured, and in whatever currency denominated) and any other indebtedness at any time held or owing by such Bank or that subsequent holder to or for the credit or the account of the Company, whether or not matured, against and on account of the obligations and liabilities of the Company to such Bank or that subsequent holder hereunder, including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement and the Related Documents, irrespective of whether or not (a) the Administrative Agent shall have made any demand hereunder or (b) the principal or the interest on the Drawing Loans and other amounts due hereunder shall have become due and payable and although said obligations and liabilities, or any of them, may be contingent or unmatured.
Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuation of an Event of Default, the Bank is hereby authorized at any time and from time to time without notice to the Agency (any such notice being expressly waived by the Agency), and to the fullest extent permitted by law, to setoff, to exercise any banker’s lien or any right of attachment and to apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies relating to the Wastewater System at any time held and other indebtedness at any time owing by the Bank to or for the account of the Agency relating to the Wastewater System (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and the Bank is authorized to convert such accounts, monies and indebtedness into dollars) against any and all of the obligations and liabilities of the Agency arising under or connected with this Agreement, the Notes and the other Loan Documents, whether or not the Bank shall have made any demand hereunder or thereunder.
Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, the Bank is hereby authorized at any time and from time to time without notice to the Applicant (any such notice being expressly waived by the Applicant), and to the fullest extent permitted by law, to setoff, to exercise any banker's lien or any right of attachment and apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies at any time held and other indebtedness at any time owing by the Bank to or for the account of the Applicant (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and the Bank is authorized to
Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, the Lender is hereby authorized at any time and from time to time without notice to the City, for and on behalf of its Department of Aviation (any such notice being expressly waived by the City, for and on behalf of its Department of Aviation), and to the fullest extent permitted by law, but in all events subject to Section 2.14 hereof, to setoff, to exercise any banker’s lien or any right of attachment and apply any and all balances, credits, deposits (general or special, time or demand, provisional or final), accounts or monies at any time held and other indebtedness at any time owing by the Lender to or for the account of the City, for and on behalf of its Department of Aviation (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and the Lender are authorized to convert such accounts, monies and indebtedness into Dollars) against any and all of the Lender Obligations of the City, for and on behalf of its Department of Aviation, whether or not the Lender shall have made any demand for any amount owing to Lender by the City, for and on behalf of its Department of Aviation.
Right of Setoff; Other Collateral. Except as otherwise provided herein, the Lender waives any and all current or future common law or statutory liens, security interests, rights of setoff and rights of recoupment to such special purpose accounts and such special purpose deposits therein, and all proceeds (as defined in Chapter 679, Florida Statutes) derived therefrom.
