Common use of Right of Setoff; Other Collateral Clause in Contracts

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, each 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 such 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 such the 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 the Bank shall have made any demand for any amount owing to such the Bank by the Applicant.

Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, each the Bank is hereby authorized at any time and from time to time without notice to the Applicant Company (any such notice being expressly waived by the ApplicantCompany), and to the fullest extent permitted by law, to setoff, to exercise any banker’s '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 the Bank to or for the account of the Applicant Company (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and such the Bank is authorized to convert such accounts, monies and indebtedness into United States U.S. dollars) against any and all of the Obligations of the ApplicantCompany, whether or not such the Bank shall have made any demand for any amount owing to such the Bank by the ApplicantCompany. (b)The rights of the Bank under this Section 7.3 are in addition to, in augmentation of, and, except as specifically provided in this Section 7.3, do not derogate from or impair other rights and remedies (including, without limitation, other rights of setoff) which the Bank may have.

Right of Setoff; Other Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, each the Bank is hereby authorized at any time and from time to time without notice to the Applicant Company (any such notice being expressly waived by the ApplicantCompany), and to the fullest extent permitted by law, to setoff, to exercise any banker’s '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 the Bank to or for the account of the Applicant Company (irrespective of the currency in which such accounts, monies or indebtedness may be denominated and such the Bank is authorized to convert such accounts, monies and indebtedness into United States State dollars) against any and all of the Obligations of the ApplicantCompany, whether or not such the Bank shall have made any demand for any amount owing to such the Bank by the ApplicantCompany.