Common use of Set-Off and Waiver Clause in Contracts

Set-Off and Waiver. The Guarantor waives any right to assert against the Secured Parties as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the Guarantor may now or at any time hereafter have against the Borrower or the Secured Parties without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the Guarantor. If at any time hereafter the Secured Party employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be paid by the Guarantor to the Administrative Agent, for the benefit of the Secured Parties, on demand.

Appears in 2 contracts

Samples: Credit Agreement (Ameristeel Finance Inc), Credit Agreement (Ameristeel Corp)

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Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Agent and the Lenders as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the each Guarantor may now or at any time hereafter have against the Borrower Borrower, the Agent or the Secured Parties Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be paid by the such Guarantor to the Administrative Agent, for the benefit of the Secured PartiesLenders, on demand.

Appears in 2 contracts

Samples: Credit Agreement (Bec Group Inc), Credit Agreement (Bolle Inc)

Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Agent or Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the such Guarantor may now or at any time hereafter have against the Borrower Borrower, the Agent or the Secured Parties Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be paid by the Guarantor to the Administrative Agent, for the benefit of the Secured Parties, on demand.arising

Appears in 1 contract

Samples: Guaranty and Suretyship Agreement (Wackenhut Corrections Corp)

Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Agent or Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other 140 claim which the such Guarantor may now or at any time hereafter have against the Borrower Borrower, the Agent or the Secured Parties Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantor Guarantors to the Administrative Agent, for the benefit of itself and the Secured PartiesLenders, on demand.

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Agent and the Lenders as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the such Guarantor may now or at any time hereafter have against the Borrower Borrower, the Agent or the Secured Parties Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantor Guarantors to the Administrative Agent, for the benefit of the Secured PartiesLenders, on demand.

Appears in 1 contract

Samples: Credit Agreement (Walter Industries Inc /New/)

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Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Trustee or any Holder as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the such Guarantor may now or at any time hereafter have against the Borrower Company, the Trustee or the Secured Parties Holders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Trustee or any Holder employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantor Guarantors to the Administrative AgentTrustee, for the benefit of the Secured Guaranty Parties, on demand.

Appears in 1 contract

Samples: Guaranty Agreement (Headway Corporate Resources Inc)

Set-Off and Waiver. The Each Guarantor waives any right to assert against the Secured Parties Agent or Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which the such Guarantor may now or at any time hereafter have against the Borrower Borrower, the Agent or the Secured Parties Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to the such Guarantor. If at any time hereafter the Secured Party Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Obligations that arise out of an Event of Default, then, in any of the foregoing events, all of the reasonable attorneys' fees arising from such services and all expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantor Guarantors to the Administrative Agent, for the benefit of itself and the Secured PartiesLenders, on demand.

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

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