Setoff Rights, Security Interests Sample Clauses

Setoff Rights, Security Interests. NATM shall have the right of setoff against any funds credited to or owing from NATM to Agent for any obligation of Agent. NATM may exercise this right of setoff at any time and without notice to Agent whether or not the obligations of Agent to NATM are then due. As security for the obligations of Agent to NATM, Agent hereby grants NATM a security interest in all money, instruments and other property of Agent that may now or hereafter is held by NATM or the Member Bank.
Sample 1
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Setoff Rights, Security Interests. NTC shall have the right of setoff against any funds credited to or owing from NTC to Agent for any obligation of Agent. NTC may exercise this right of setoff at any time and without notice to Agent whether or not the obligations of Agent to NTC are then due. As security for the obligations of Agent to NTC, Agent hereby grants NTC a security interest in all money, instruments and other property of Agent that may now or hereafter is held by NTC or the Member Bank.
Sample 1

Related to Setoff Rights, Security Interests

  • Security Interests No party to this Escrow Agreement shall grant a security interest in any monies or other property deposited with the Escrow Agent under this Escrow Agreement, or otherwise create a lien, encumbrance or other claim against such monies or borrow against the same.

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • ENCUMBRANCES/LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with the UNDP against any monies due or to become due for any work done or materials furnished under this Contract, or by reason of any other claim or demand against the Contractor.

  • No Security Interest Holders shall have no security interest in any of the Company’s assets or other collateral. Nothing in this Revenue Sharing Agreement or in the Notes, express or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, now in eRect or hereafler enacted and made effective, in any jurisdiction.

  • Liens Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

  • Collateral Each of the Banks represents to the Agent and each of the other Banks that it in good faith is not relying upon any "margin stock" (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement.

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