Common use of Set Off and Sharing of Payments Clause in Contracts

Set Off and Sharing of Payments. In addition to any rights now or ------------------------------- hereafter granted under applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, Lender is hereby authorized by Borrower at any time or from time to time, with reasonably prompt subsequent notice to Borrower (any prior or contemporaneous notice being hereby expressly waived) to set off and to appropriate and to apply any and all (A) balances held by Lender at any of its offices for the account of Borrower (regardless of whether such balances are then due to Borrower), and (B) other property at any time held or owing by Lender to or for the credit or for the account of Borrower, against and on account of any of the Obligations.

Set Off and Sharing of Payments. In addition to any rights now ------------------------------- or ------------------------------- hereafter granted under applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, Lender CoBank is hereby authorized by Borrower at any time or from time to time, with reasonably prompt subsequent notice to Borrower (any prior or contemporaneous notice being hereby expressly waived) to set off and to appropriate and to apply against and on account of any of the Obligations any and all (A) balances held by Lender CoBank at any of its offices for the account of Borrower or any of its Subsidiaries (regardless of whether such balances are then due to BorrowerBorrower or any of its Subsidiaries), and (B) all other property at any time held or owing by Lender CoBank to or for the credit or for the account of Borrower, against and on account of Borrower or any of the Obligationsits Subsidiaries.

Set Off and Sharing of Payments. In addition to any rights now or ------------------------------- hereafter granted under applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, Lender CoBank is hereby authorized by Borrower at any time or from time to time, with reasonably prompt subsequent notice to Borrower (any prior or contemporaneous notice being hereby expressly waived) to set off and to appropriate and to apply against and on account of any of the Obligations any and all (A) balances held by Lender CoBank at any of its offices for the account of Borrower or any of its Significant Subsidiaries (regardless of whether such balances are then due to BorrowerBorrower or any of its Significant Subsidiaries), and (B) all other property at any time held or owing by Lender CoBank to or for the credit or for the account of Borrower, against and on account of Borrower or any of the Obligationsits Significant Subsidiaries.

Set Off and Sharing of Payments. In addition to any rights now or ------------------------------- hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence and during the continuance of any Event of Default, each Lender is hereby authorized by Borrower at any time or from time to time, with reasonably prompt subsequent notice to Borrower or to any other Person (any prior or contemporaneous notice being hereby expressly waived) to set off and to appropriate and to apply any and all (A) balances held by such Lender or such holder at any of its offices for the account of Borrower or any of its Subsidiaries (regardless of whether such balances are then due to BorrowerBorrower or its Subsidiaries), and (B) other property at any time held or owing by such Lender or such holder to or for the credit or for the account of Borrower, against and on account of Borrower or any of the Obligations.its Subsidiaries against and