Common use of Rights of Creditor Clause in Contracts

Rights of Creditor. Upon an Event of Default, Bank, in its sole and absolute discretion, may exercise any one or more of the rights and remedies accruing (a) under applicable law upon default by a debtor, (b) under any instrument or (c) under any document or agreement. Nothing contained herein shall interfere with Bank's right under law to set-off the balances of any deposit accounts maintained by Borrower with Bank against Borrower's Liabilities.

Rights of Creditor. Upon an Event of Default, Bank, in its sole and absolute discretion, may exercise any one or more of the rights and remedies accruing (a) under applicable law upon default by a debtor, (b) under any instrument instrument, including, without limitation, the Mortgage and the Assignment of Rents, or (c) under any document or agreement. Nothing contained herein shall interfere with Bank's right under law to set-off the balances of any deposit accounts maintained by any Borrower with Bank against Borrower's Borrowers' Liabilities.