SET OFF OR COUNTERCLAIM. The obligation of the Debtor to make all payments comprising part of the Secured Obligations is absolute and unconditional and will not be affected by: (a) any circumstance, including any set-off, compensation, counterclaim, recoupment, defence or other right which the Debtor may now or hereafter have against the Secured Party or any one or more others for any reason whatsoever; or (b) any insolvency, bankruptcy, reorganization or similar proceedings by or against the Debtor.
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Samples: General Security Agreement (CurrencyWorks Inc.), General Security Agreement (Northern Dynasty Minerals LTD), General Security Agreement (Search by HEADLINES.COM Corp.)
SET OFF OR COUNTERCLAIM. The obligation of the Debtor to make all payments comprising part of the Secured Obligations is absolute and unconditional and will not be affected by:
(a) any circumstance, including any set-off, compensation, counterclaim, recoupment, defence or other right which the Debtor may now or hereafter have against the Secured Party Parties or any one or more others for any reason whatsoever; or
(b) any insolvency, bankruptcy, reorganization or similar proceedings by or against the Debtor.
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