Common use of Set-Off; Suspension of Payment and Performance Clause in Contracts

Set-Off; Suspension of Payment and Performance. The Administrative Agent, the Issuing Bank, the Swing Loan Lender and each Bank is hereby authorized by the Borrower and each Guarantor, at any time and from time to time, without notice, (a) during any Event of Default, to set off against, and to appropriate and apply to the payment of, the Liabilities of the Borrower or any Guarantor under the Loan Documents (whether owing to such Person or to any other Person that is the Administrative Agent, the Issuing Bank, the Swing Loan Lender or a Bank and whether matured or unmatured, fixed or contingent or liquidated or unliquidated and including amounts to which a Bank is entitled with respect to its Letter of Credit Participations) any and all Liabilities owing by such Person or any of its Affiliates to the Borrower, each Guarantor or any Wholly Owned Subsidiary (whether payable in Dollars or any other currency, whether matured or unmatured and, in the case of Liabilities that are deposits, whether general or special, time or demand and however evidenced and whether maintained at a branch or office located within or without the United States) and (b) during any Event of Default, to suspend the payment and performance of such Liabilities owing by such Person or its Affiliates and, in the case of Liabilities that are deposits, to return as unpaid for insufficient funds any and all checks and other items drawn against such deposits.

Set-Off; Suspension of Payment and Performance. The Administrative Agent, the Issuing Bank, the Swing Loan Lender Line Bank and each Bank is hereby authorized by the Borrower and each Guarantor, at any time and from time to time, without notice, (a) during any Event of Default, to set off against, and to appropriate and apply to the payment of, the Liabilities of the Borrower or any Guarantor such Person under the Loan Documents (whether owing to the Administrative Agent, the Issuing Bank, the Swing Line Bank or such Person Bank or to any other Person that is the Administrative Agent, the Issuing Bank, the Swing Loan Lender Line Bank or a Bank and whether matured or unmatured, fixed or contingent or liquidated or unliquidated and including amounts to which a Bank is entitled with respect to its Letter of Credit Participationsunliquidated) any and all Liabilities owing by the Administrative Agent, the Issuing Bank, the Swing Line Bank or such Person Bank or any of its Affiliates to the Borrower, each Guarantor or any Wholly Owned Subsidiary such Person (whether payable in Dollars or any other currency, whether matured or unmatured and, in the case of Liabilities that are deposits, whether general or special, time or demand and however evidenced and whether maintained at a branch or office located within or without the United StatesStates of America) and (b) during any Event of Default, to suspend the payment and performance of such Liabilities owing by such Person or its Affiliates in an amount of the Loans and Drawings plus interest accrued thereon and other amounts then due and payable under the Loan Documents and, in the case of Liabilities that are deposits, to the extent necessary, to return as unpaid for insufficient funds any and all checks and other items drawn against such deposits.