Common use of Setoff; Property Held by Agents and the Banks Clause in Contracts

Setoff; Property Held by Agents and the Banks. If an Event --------------------------------------------- of Default shall have occurred and be continuing, the Agent, each Co-Agent and each Bank shall have the right to set off and apply against the Obligations, at any time and without notice to Pledgor, any and all deposits (general or special, time or demand, provisional or final) or other sums at any time credited by or owing from the Agent, any Co-Agent or any Bank to Pledgor whether or not the Obligations are then due. As additional security for the Obligations, Pledgor hereby grants the Agent, each Co-Agent and each Bank a security interest in all money, instruments, and other property of Pledgor now or hereafter held by the Agent, any Co-Agent or any Bank, including, without limitation, property held in safekeeping. In addition to the Agent's, any Co- Agent's or any Bank's right of setoff and as further security for the Obligations, Pledgor hereby grants the Agent, each Co-Agent and each Bank a security interest in all deposits (general or special, time or demand, provisional or final) and other accounts of Pledgor now or hereafter on deposit with or held by the Agent, any Co-Agent or any Bank and all other sums at any time credited by or owing from the Agent, any Co-Agent or any Bank to Pledgor. The rights and remedies of the Agent, each Co-Agent and each Bank hereunder are in addition to other rights and remedies (including, without limitation, other rights of setoff) which the Agent, any Co-Agent or any Bank may have.

Setoff; Property Held by Agents and the Banks. If an Event --------------------------------------------- of Default shall have occurred and be continuing, the Agent, each Co-Agent and each Bank shall have the right to set off and apply against the Obligations, at any time and without notice to Pledgor, any and all deposits (general or special, time or demand, provisional or final) or other sums at any time credited by or owing from the Agent, any Co-Agent or any Bank to Pledgor whether or not the Obligations are then due. As additional security for the Obligations, Pledgor hereby grants the Agent, each Co-Agent and each Bank a security interest in all money, instruments, and other property of Pledgor now or hereafter held by the Agent, any Co-Agent or any Bank, including, without limitation, property held in safekeeping. In addition to the Agent's, any Co- Co-Agent's or any Bank's right of setoff and as further security for the Obligations, Pledgor hereby grants the Agent, each Co-Agent and each Bank a security interest in all deposits (general or special, time or demand, provisional or final) and other accounts of Pledgor now or hereafter on deposit with or held by the Agent, any Co-Agent or any Bank and all other sums at any time credited by or owing from the Agent, any Co-Agent or any Bank to Pledgor. The rights and remedies of the Agent, each Co-Agent and each Bank hereunder are in addition to other rights and remedies (including, without limitation, other rights of setoff) which the Agent, any Co-Agent or any Bank may have.