Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 40 contracts
Samples: Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.)
Setoff. Subject to Section 14.1214.13 hereof, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 15 contracts
Samples: Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/), Term Loan Credit and Security Agreement (Quantum Corp /De/)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 9 contracts
Samples: Revolving Credit and Security Agreement (Goodman Networks Inc), Revolving Credit and Term Loan Agreement (Hudson Technologies Inc /Ny), Revolving Credit and Security Agreement (Research Pharmaceutical Services, Inc.)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 9 contracts
Samples: Revolving Credit, Term Loan, Guaranty, and Security Agreement (Rocky Brands, Inc.), Term Loan Credit and Security Agreement (EVINE Live Inc.), Revolving Credit and Security Agreement (Empeiria Acquisition Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerCredit Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 4 contracts
Samples: Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunderhereunder that has not been waived or cured and is continuing, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 4 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc), Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc), Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.), Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.), Revolving Credit and Security Agreement (Dri Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrowereach Loan Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (TCP International Holdings Ltd.), Revolving Credit and Security Agreement (TCP International Holdings Ltd.), Revolving Credit and Security Agreement (TCP International Holdings Ltd.)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender (excluding XXX, Xxxxx and trust accounts) to reduce the Obligations.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (SMTC Corp), Revolving Credit and Security Agreement (SMTC Corp), Revolving Credit and Security Agreement (Avatech Solutions Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (UniTek Global Services, Inc.), Revolving Credit and Security Agreement (UniTek Global Services, Inc.)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which the Agent or any Lender may have under Applicable Law, upon during the occurrence continuance of an any Event of Default hereunder, the Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by the Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to the Agent and such Lender with respect to any deposits held by the Agent or such Lender.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Invacare Corp), Revolving Credit and Security Agreement (Invacare Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuation of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Aventine Renewable Energy Holdings Inc), Revolving Credit and Security Agreement (Aventine Renewable Energy Holdings Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s 's property held by Agent and such Lender to reduce the Obligations.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Small World Kids Inc), Revolving Credit, Term Loan, Equipment Line of Credit and Security Agreement (Ashlin Development Corp)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s or Guarantors’ property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc), Revolving Credit and Security Agreement (Build a Bear Workshop Inc)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which any Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, such Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by such Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to such Agent and such Lender with respect to any deposits held by such Agent or such Lender.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (A.S.V., LLC), Revolving Credit, Term Loan and Security Agreement (Manitex International, Inc.)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s Loan Party's property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Allegheny Technologies Inc)
Setoff. Subject to Section 14.1213.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Senior Credit Agreement
Setoff. Subject to Section 14.1214.13 hereof, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Loan and Security Agreement (United States Steel Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, but in all events subject to the provisions of the Financing Order, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s Loan Party's property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Debt Agreement (Castle a M & Co)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s or Guarantors’ property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Finish Line Inc /In/)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s Borrower Party's property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Lawapplicable law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s 's property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Brightstar Corp.)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s 's property held by Agent and such Lender to reduce the ObligationsObligations to the fullest extent permitted by Applicable Laws.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Union Drilling Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the ObligationsObligations to the fullest extent permitted by Applicable Laws.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Union Drilling Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerBorrower Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s Credit Party's property held by Agent, any such Lender and/or any of their Affiliates to reduce the Obligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to reduce the Obligationsany deposits held by Agent or such Lender.
Appears in 1 contract
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s Credit Parties’ property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Term Loan Credit and Security Agreement (Hudson Technologies Inc /Ny)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such each Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and or such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)
Setoff. Subject to Section 14.12, in In addition to any other rights which any Agent or any Lender may have under Applicable Lawapplicable law, upon the occurrence of an Event of Default hereunderhereunder and during the continuation thereof, such Agent and such Lender shall have a right, immediately and without notice of any kind, right to apply any the Borrower’s 's and each Guarantor's property held by such Agent and such Lender to reduce the Obligations, subject, however, to the application of proceeds set forth in Sections 11.1 and 15.4 hereof and subject to the provisions of Section 11.6.
Appears in 1 contract
Samples: Revolving Credit, Equipment Loan, Term Loan and Security Agreement (McMS Inc /De/)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerDomestic Loan Party’s property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender (excluding XXX, Xxxxx and trust accounts) to reduce the Obligations.. 074658.01845/123458281v.1
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (SMTC Corp)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s 's property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Teamstaff Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s or any Guarantor’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Tecumseh Products Co)
Setoff. Subject to Section 14.1214.11, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Nektar Therapeutics)
Setoff. Subject to Section 14.1214.13, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Swenson Granite Co LLC)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerLoan Party’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Keane Group, Inc.)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations. Agent agrees that if an Event of Default is cured Agent will not initiate additional set-off rights in connection with such Event of Default.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Apac Customer Service Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations; provided that following such setoff and application, Agent or such Lender taking such action shall endeavor to provide written notice thereof to Borrowing Agent.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Osteotech Inc)
Setoff. Subject to Section 14.1214.12 hereof, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Image Entertainment Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence and during the continuance of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any Borrower’s property held by Agent and such Lender to reduce the Secured Obligations.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Hutchinson Technology Inc)
Setoff. Subject to Section 14.12, in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, to apply any BorrowerCredit Party’s property held by Agent and such Lender or any of their Affiliates to reduce the ObligationsObligations and to exercise any and all rights of setoff which may be available to Agent and such Lender with respect to any deposits held by Agent or such Lender.
Appears in 1 contract
Samples: Sixth Amendment and Waiver to Term Loan and Security Agreement (Direct Digital Holdings, Inc.)