Common use of Set Off Sharing of Payments Clause in Contracts

Set Off Sharing of Payments. Without limitation of any other rights of the Lenders, if an Event of Default shall have occurred and be continuing, each Lender and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or the account of a Borrower against any and all of the obligations of the Borrowers now or hereafter existing under this Agreement or any other Credit Document to such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement or any other Credit Document and although such obligations of a Borrower may be contingent or unmatured or are owed to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender or their respective Affiliates may have. Each Lender agrees promptly to notify the Borrowers and the Administrative Agent after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.

Set Off Sharing of Payments. Without limitation (a) Right of any other rights Setoff. Each of the Lenders, if an Event of Default shall have occurred and be continuingAgent, each Lender and each Affiliate (including each branch office thereof) of their respective Affiliates any of them is hereby authorized authorized, without notice or demand (each of which is hereby waived by each Credit Party), at any time and from time to time, time during the continuance of any Event of Default and to the fullest extent permitted by applicable lawRequirements of Law, to set off and apply any and all deposits (whether general or special, time or demand, provisional or final, in whatever currency) at any time held and other Indebtedness, claims or other obligations (in whatever currency) at any time owing by Agent, such Lender or any such Affiliate of their respective Affiliates to or for the credit or the account of a the Borrower against any and all of the obligations of the Borrowers now or hereafter existing under this Agreement or any other Credit Document to such LenderParty against any Obligation of any Credit Party now or hereafter existing, irrespective of whether or not any demand was made under any Loan Document with respect to such Obligation and even though such Obligation may be unmatured. No Lender shall have made exercise any demand under this Agreement such right of setoff without the prior consent of Agent or any other Credit Document and although such obligations of a Borrower may be contingent or unmatured or are owed to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender or their respective Affiliates may haveRequired Lenders. Each of Agent and each Lender agrees promptly to notify the Borrowers Borrower and the Administrative Agent after any such setoff and applicationapplication made by such Lender or its Affiliates; provided, provided however, that the failure to give such notice shall not affect the validity of such setoff and application. The rights under this Section 10.11 are in addition to any other rights and remedies (including other rights of setoff) that Agent, the Lenders, their Affiliates and the other Secured Parties, may have.

Set Off Sharing of Payments. Without limitation (a) Right of Setoff. Each of Agent, each Lender, each L/C Issuer and each Affiliate (including each branch office thereof) of any other rights of the Lendersthem is hereby authorized, if an Event of Default shall have occurred and be continuing, each Lender and without notice or demand (each of their respective Affiliates which is hereby authorized waived by each Credit Party), at any time and from time to time, time during the continuance of any Event of Default and to the fullest extent permitted by applicable lawRequirements of Law, to set off and apply any and all deposits (whether general or special, time or demand, provisional or final, in whatever currency) at any time held and other Indebtedness, claims or other obligations (in whatever currency) at any time owing by Agent, such Lender Lender, such L/C Issuer or any such Affiliate of their respective Affiliates to or for the credit or the account of a the Borrower against any and all of the obligations of the Borrowers now or hereafter existing under this Agreement or any other Credit Document to such LenderParty against any Obligation of any Credit Party now or hereafter existing, irrespective of whether or not such Lender shall have made any demand was made under this Agreement or any other Credit Loan Document with respect to such Obligation and although even though such obligations of a Borrower Obligation may be contingent unmatured. No Lender or unmatured L/C Issuer shall exercise any such right of setoff without the prior consent of Agent or are owed to a branch or office Required Lenders. Each of such Lender different from the branch or office holding such deposit or obligated on such indebtedness. The rights of Agent, each Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender or their respective Affiliates may have. Each Lender each L/C Issuer agrees promptly to notify the Borrowers Borrower and the Administrative Agent after any such setoff and applicationapplication made by such Lender or its Affiliates; provided, provided however, that the failure to give such notice shall not affect the validity of such setoff and application. The rights under this Section 10.11 are in addition to any other rights and remedies (including other rights of setoff) that Agent, the Lenders, the L/C Issuer, their Affiliates and the other Secured Parties, may have.