Common use of Setoffs Clause in Contracts

Setoffs. Upon the occurrence of any Event of Default, the Bank shall ha the right to setoff against all obligations of the Company to the Bank hereunder, under the Notes or under any of the Loan Documents, whether matured or unmatured, all amounts owing to the Company by the Bank or any Affiliate of the Bank, whether or not then due and payable, and all other funds or property of the Company on deposit with or otherwise held by or in the custody of the Bank or any Affiliate of the bank for the beneficial account of the Company.

Setoffs. Upon the occurrence of any Event of Default, the Bank shall ha the right to setoff against all obligations of the Company to the Bank hereunder, under the Notes Note or under any of the Loan Documents, whether matured or unmatured, all amounts owing to the Company by the Bank or any Affiliate of the Bank, whether or not then due and payable, and all other funds or property of the Company on deposit with or otherwise held by or in the custody of the Bank or any Affiliate of the bank for the beneficial account of the Company.

Setoffs. Upon the occurrence of any If an Event of DefaultDefault shall have occurred and be continuing, the Bank shall ha have the right to setoff against all obligations property of either Borrower now or at any time hereafter in the Bank's possession in any capacity whatever (including, without limitation, any balance or share of any deposit, trust or agency account) as security for all liabilities of the Company Borrowers to the Bank hereunder, under the Notes or under any of the Loan Documents, whether matured or unmatured, all amounts owing to the Company by the Bank or any Affiliate of the Bank, whether or not then due and payable, and all other funds or property of the Company on deposit with or otherwise held by or in the custody of the Bank or any Affiliate of the bank for the beneficial account of the Company.