Common use of Set-Off; Security Interest in Deposit Accounts Clause in Contracts

Set-Off; Security Interest in Deposit Accounts. 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 of any Event of Default each Lender is hereby authorized by Company at any time or from time to time, subject to the consent of Administrative Agent, without notice to Company or to any other Person (other than Administrative Agent), any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by that Lender to or for the credit or the account of Company against and on account of the obligations and liabilities of Company to that Lender under this Agreement, and the other AXEL Loan Documents, including all claims of any nature or description arising out of or connected with this Agreement any other Loan Document, irrespective of whether or not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the AXELs or any other amounts due hereunder shall have become due and payable pursuant to Section 7 and although said obligations and liabilities, or any of them, may be contingent or unmatured. Company hereby further grants to Collateral Agent and each Lender a security interest in all deposits and accounts maintained with Administrative Agent or such Lender as security for the Obligations.

Set-Off; Security Interest in Deposit Accounts. 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 of any Event of Default each Lender is hereby authorized by Company Borrower at any time or from time to time, subject to the consent of Administrative Agent, without notice to Company Borrower or to any other Person (other than Administrative Agent)Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by that Lender to or for the credit or the account of Company Borrower against and on account of the obligations and liabilities of Company Borrower to that Lender under this Agreement, the Letters of Credit and participations therein and the other AXEL Loan Documents, including all claims of any nature or description arising out of or connected with this Agreement Agreement, the Letters of Credit and participations therein or any other Loan Document, irrespective of whether or not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the AXELs Loans or any amounts in respect of the Letters of Credit or any other amounts due hereunder shall have become due and payable pursuant to Section 7 8 and although said obligations and liabilities, or any of them, may be contingent or unmatured. Company hereby further grants to Collateral Agent and each Lender a security interest in all deposits and accounts maintained with Administrative Agent or such Lender as security for the Obligations.

Set-Off; Security Interest in Deposit Accounts. 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 each Default, the Lender is hereby authorized by the Company at any time or from time to time, subject to the consent of Administrative Agent, without notice to the Company or to any other Person (other than Administrative Agent)Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by that the Lender to or for the credit or the account of the Company against and on account of the obligations and liabilities of the Company to that the Lender under this Agreement, the Notes and the other AXEL Loan Documentsparticipations therein, including including, but not limited to, all claims of any nature or description arising out of or connected with this Agreement Agreement, the Notes and participations therein or any other Loan Document, irrespective of whether or not (i) that the Lender shall have made any demand hereunder or (ii) the principal of or the interest on the AXELs Loans or any other amounts due hereunder shall have become due and payable pursuant to Section 7 and although said obligations and liabilities, or any of them, may be contingent or unmatured. Company hereby further grants to Collateral Agent and each Lender a security interest in all deposits and accounts maintained with Administrative Agent or such Lender as security for the Obligations.

Set-Off; Security Interest in Deposit Accounts. 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 of any Event of Default each Lender is hereby authorized by Company at any time or from time to time, subject to the consent of Administrative Agent, without notice to Company or to any other Person (other than Administrative Agent)Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including including, but not limited to, Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by that Lender to or for the credit or the account of Company against and on account of the obligations and liabilities of Company to that Lender under this Agreement, and the other AXEL Loan Documents, including all claims of any nature or description arising out of or connected with this Agreement any other Loan DocumentObligations, irrespective of whether or not (i) that Lender shall have made any demand hereunder or (ii) the principal of or the interest on the AXELs Loans or any other amounts due hereunder shall have become due and payable pursuant to Section 7 and although said obligations and liabilities, or any of them, may be contingent or unmatured. Company hereby further grants to Collateral Agent and each Lender a security interest in all deposits and accounts maintained with Administrative Agent or such Lender as security for the Obligations.