Secured Party's Right of Set-Off. Pledgor recognizes and -------------------------------- agrees that with respect to any time or other deposit, certificate of deposit or any other balance of account standing to the credit of Pledgor on the books of the Secured Party wherever located, the Secured Party has a right of set-off to the full extent permitted by law. Pledgor further agrees that the Secured Party may exercise such right of set-off at any time when an Event of Default under the Loan Agreement shall occur, regardless of the stated maturity of any time deposit or other such credit balance.
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Samples: Securities Pledge Agreement (A L Industrier As), Securities Pledge Agreement (A L Industrier As), Share Pledge Agreement (Al Industrier As)
Secured Party's Right of Set-Off. Pledgor recognizes and -------------------------------- agrees that with respect to any time or other deposit, certificate of deposit or any other balance of account standing to the credit of Pledgor on the books of the Secured Party wherever located, the Secured Party has a right of set-off to the full extent permitted by law. Pledgor further agrees that the Secured Party may exercise such right of set-off at any time when an Event of Default under the Loan Agreement shall occur, regardless of the stated maturity of any time deposit or other such credit balance.full
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