Common use of Secured Party's Right of Set-Off Clause in Contracts

Secured Party's Right of Set-Off. Upon the happening of any event entitling Secured Party to pursue any remedy provided herein, or if Secured Party shall be served with garnishment process in which Debtor shall be named as defendant, whether or not Debtor shall be in default hereunder at the time, Secured Party may, but shall not be required to, set-off any indebtedness owing by Secured Party to Debtor against any of the Obligations without first resorting to the security hereunder and without prejudice to any other rights or remedies of Secured Party or its Security Interest.

Secured Party's Right of Set-Off. Upon the happening occurrence of any event entitling Secured Party to pursue any remedy provided hereinEvent of Default, or if the Secured Party shall be served with garnishment garnishee process in which the Debtor shall be named as defendant, whether or not the Debtor shall be in default hereunder at the time, the Secured Party may, but shall not be required to, set-set off any indebtedness owing by the Secured Party to the Debtor against any of the Obligations indebtedness secured hereby, without first resorting to the security hereunder and without prejudice to any other rights or remedies of the Secured Party or its Security Interestsecurity interest herein.

Secured Party's Right of Set-Off. Upon the happening of any event entitling the Secured Party to pursue any remedy provided herein, or if the Secured Party shall be served with garnishment garnishee process in which the Debtor shall be named as defendant, whether or not the Debtor shall be in default hereunder at the time, the Secured Party may, but shall not be required to, set-set off any indebtedness owing by the Secured Party to the Debtor against any of the Obligations indebtedness secured hereby, without first resorting to the security hereunder and without prejudice to any other rights or remedies of the Secured Party or its Security Interestsecurity interest herein.