Common use of Security Interest and Right of Set-Off Clause in Contracts

Security Interest and Right of Set-Off. Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers hereunder against, all funds which either Borrower may maintain on deposit with Bank (with the exception of funds deposited in Borrowers' accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx accounts and All Saver Certificates), and Bank shall have a lien upon and a security interest in all property of either Borrower in Bank's possession or control which shall secure the Indebtedness of Borrowers.

Appears in 2 contracts

Samples: Loan Agreement (Compressco Inc), Loan Agreement (Compressco Inc)

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Security Interest and Right of Set-Off. Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers hereunder against, all funds which either Borrower may maintain on deposit with Bank (with the exception of funds deposited in Borrowers' accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx Xxxxx accounts and All Saver Certificates), and Bank shall have a lien upon and a security interest in all property of either Borrower in Bank's possession or control which shall secure the Indebtedness of Borrowers.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Emerging Alpha Corp)

Security Interest and Right of Set-Off. Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers Debtor hereunder against, all funds which either Borrower Debtor may maintain on deposit with Bank (with the exception of funds deposited in Borrowers' Debtor's accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx accounts Keogx xxxounts and All Saver CertificatesCertificates or funds which are dedicated to the payment of purses), and Bank shall have a lien upon and a security interest in all property of either Borrower Debtor in Bank's possession or control which shall secure the Indebtedness of BorrowersDebtor.

Appears in 1 contract

Samples: Loan Agreement (Fair Grounds Corp)

Security Interest and Right of Set-Off. The Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers the Borrower hereunder against, all funds which either the Borrower may maintain on deposit with the Bank (with the exception of funds deposited in Borrowers' the, Borrower's accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx accounts and All Saver Certificates), and the Bank shall have a lien upon and a security interest in all property of either the Borrower in the Bank's possession or control which shall secure the Indebtedness of Borrowersthe Borrower.

Appears in 1 contract

Samples: Loan Agreement (Omni Energy Services Corp)

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Security Interest and Right of Set-Off. The Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers the Borrower hereunder against, all funds which either the Borrower may maintain on deposit with the Bank (with the exception of funds deposited in Borrowers' the Borrower's accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx Xxxxx accounts and All Saver Certificates), and the Bank shall have a lien upon and a security interest in all property of either the Borrower in the Bank's possession or control which shall secure the Indebtedness of Borrowersthe Borrower.

Appears in 1 contract

Samples: Loan Agreement (Omni Energy Services Corp)

Security Interest and Right of Set-Off. The Bank shall have a continuing security interest in, as well as the right to set-off the obligations of Borrowers the Borrower hereunder against, all funds which either the Borrower may maintain on deposit with the Bank (with the exception of funds deposited in Borrowers' the Borrower's accounts in trust for third parties or funds deposited in pension accounts, IRA's, Kxxxx accounts Keogx xxxounts and All Saver Certificates), and the Bank shall have a lien upon and a security interest in all property of either the Borrower in the Bank's possession or control which shall secure the Indebtedness of Borrowersthe Borrower.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

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