Common use of Set-Off or Compensation Clause in Contracts

Set-Off or Compensation. In addition to and not in limitation of any rights now or hereafter granted under applicable law, if the Obligations become due and payable pursuant to Section 8.2, the Lender may at any time and from time to time without prior notice to the Obligors or any other Person, any notice being expressly waived by the Obligors, set-off and compensate and apply any and all deposits, general or special, time or demand, provisional or final, matured or unmatured, and any other indebtedness at any time owing by the Lender to or for the credit of or the account of any Obligor, against and on account of the Obligations notwithstanding that any of them are contingent or unmatured.

Appears in 2 contracts

Samples: Credit Agreement (Glamis Gold LTD), International Royalty Corp

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Set-Off or Compensation. In addition to and not in limitation of any rights now or hereafter granted under applicable lawApplicable Law, if the Obligations become due and payable pursuant to Section 8.29.2, the Lender Lenders, or any of them, may at any time and from time to time without prior notice to the Obligors any Obligor or any other Person, any notice being expressly waived by each Obligor to the Obligorsextent permitted by Applicable Law, set-off and compensate and apply any and all deposits, general or special, time or demand, provisional or final, matured or unmatured, and any other indebtedness at any time owing by the Lender Lenders, or any of them, to or for the credit of or the account of any Obligor, Obligor against and on account of the Obligations Secured Obligations, or any of them, notwithstanding that any of them are contingent or unmatured.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Set-Off or Compensation. In addition to and not in limitation of any rights now or hereafter granted under applicable law, if the Obligations become due at any time after an Event of Default has occurred and payable pursuant to Section 8.2is continuing, the Lender Noteholders may at any time and from time to time without prior notice to the Obligors Borrower or any other Person, any notice being expressly waived by the ObligorsBorrower, set-set off and compensate and apply any and all deposits, general or special, time or demand, provisional or final, matured or unmatured, and any other indebtedness at any time owing by the Lender Noteholders to or for the credit of or the account of any Obligorthe Borrower, against and on account of the Obligations hereunder notwithstanding that any of them are contingent or unmatured.

Appears in 1 contract

Samples: Credit Agreement (Americredit Corp)

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Set-Off or Compensation. In addition to to, and not in limitation of of, any rights now or hereafter granted under applicable lawApplicable Law, if the Obligations become due and payable repayment is accelerated pursuant to Section 8.29.2, the Lender may may, at any time and from time to time without prior notice to the Obligors any Obligor or any other Person, the right to receive any notice being expressly waived by the Obligorseach Obligor, set-off and compensate and apply any and all deposits, general or special, time or demand, provisional or final, matured or unmatured, and any other indebtedness at any time owing by the Lender to or for the credit of or the account of any an Obligor, against and on account of the Obligations Obligations, notwithstanding that any of them are contingent or unmatured.

Appears in 1 contract

Samples: Loan Agreement (Monaco Group Inc)

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