Common use of Set-Off and Waiver Clause in Contracts

Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, the Lender, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the 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 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 Guarantors to the Lender on demand and shall constitute part of the Guarantors' Obligations hereunder.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Crown Crafts Inc), Revolving Credit Agreement (Crown Crafts Inc)

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Set-Off and Waiver. Each Guarantor waives any right to assert ------------------ against the Lender Agent and the Lenders as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, the LenderAgent or the Lenders, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the 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 Guarantors to the Lender on demand and shall constitute part Agent, for the benefit of the Guarantors' Obligations hereunderLenders, on demand.

Appears in 1 contract

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

Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender Agent and the Lenders as a defense, counterclaim, set-off off, or cross claim, any defense (legal or equitable) ), or other claim which such Guarantor may now or at any time or times hereafter have against the Borrower, the Lender, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such GuarantorGuarantor against any Person other than the Agent or any Lender. If at any time or times hereafter the Agent or any Lender employs counsel for advice or other representation to enforce the Guarantors' Guarantor's Obligations that arise out of a default hereunder or an Event of DefaultDefault under either Credit Agreement, then, in any of the foregoing events, all of the reasonable attorneys' fees actually incurred and arising from such services and all reasonable expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantors to the Lender Agent, on demand and shall constitute part of the Guarantors' Obligations hereunderdemand.

Appears in 1 contract

Samples: Credit Agreement (Saks Inc)

Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender Lessor as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, Lessee or the LenderLessor, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the Lender Lessor 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 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 obligations of the Guarantors and shall be paid by the Guarantors to the Lender Lessor, on demand and shall constitute part of the Guarantors' Obligations hereunderdemand.

Appears in 1 contract

Samples: Guaranty Agreement (Aviation Sales Co)

Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender Lenders as a defense, counterclaim, set-off or cross claim, claim any defense claim (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, the Lender, Borrower without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the 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 reasonable expenses, costs and charges in any way or respect arising in connection therewith or relating thereto shall be jointly and severally paid by the Guarantors to the Lender Lenders, on demand and shall constitute part of the Guarantors' Obligations hereunderdemand.

Appears in 1 contract

Samples: Guaranty and Suretyship Agreement (Us Lec Corp)

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Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, the Lender, without waiving any additional defenses, set-offssetoffs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the 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 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 Guarantors to the Lender on demand and shall constitute part of the Guarantors' Obligations hereunder.

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (Crown Crafts Inc)

Set-Off and Waiver. Each Guarantor waives any right to assert against the Lender as a defense, counterclaim, set-off or cross claim, any defense (legal or equitable) or other claim which such Guarantor may now or at any time hereafter have against the Borrower, Borrower or the Lender, without waiving any additional defenses, set-offs, counterclaims or other claims otherwise available to such Guarantor. If at any time hereafter the Lender employs counsel for advice or other representation to enforce the Guarantors' Guarantor's 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 Guarantors Guarantor to the Lender on demand and shall constitute part of the Guarantors' Obligations hereunderdemand.

Appears in 1 contract

Samples: Guaranty Agreement (Compliance Systems Corp)

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