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, 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 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 Borrower or any of its Subsidiaries), and (B) all other property at any time held or owing by CoBank to or for the credit or for the account of Borrower or any of its 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, 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 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 Borrower or any of its Significant Subsidiaries), and (B) all other property at any time held or owing by CoBank to or for the credit or for the account of Borrower or any of its 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, CoBank 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 against and on account of any of the Obligations any and all (A) balances held by CoBank 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 Borrower or any of its Subsidiaries), and (B) all other property at any time held or owing by CoBank such Lender or such holder to or for the credit or for the account of Borrower or any of its Subsidiaries.Subsidiaries against and

Set Off and Sharing of Payments. In addition to any rights now or ------------------------------- or hereafter granted under applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, CoBank 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 against and on account of any of the Obligations any and all (A) balances held by CoBank Lender at any of its offices for the account of Borrower or any of its Subsidiaries (regardless of whether such balances are then due to Borrower or any of its SubsidiariesBorrower), and (B) all other property at any time held or owing by CoBank Lender to or for the credit or for the account of Borrower or Borrower, against and on account of any of its Subsidiariesthe Obligations.