Common use of Waiver of Right of Set-Off Clause in Contracts

Waiver of Right of Set-Off. Subject to applicable law, neither any holder or beneficial owner of notes nor the trustee acting on behalf of the holders and beneficial owners of notes may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by ING in respect of, or arising under, or in connection with, the notes and each holder and beneficial owner of notes, by virtue of its holding of any notes or any interest therein, and the trustee acting on behalf of the holders and beneficial owners of notes, shall be deemed to have waived all such rights of set-off, compensation or retention.

Waiver of Right of Set-Off. Subject to applicable law, neither any holder or beneficial owner of notes nor the trustee acting on behalf of the holders and beneficial owners of notes may exercise, claim or plead any right of set-off, netting, compensation or retention in respect of any amount owed to it by ING in respect of, or arising under, or in connection with, the notes and each holder and beneficial owner of notes, by virtue of its holding of any notes or any interest therein, and the trustee acting on behalf of the holders and beneficial owners of notes, shall be deemed to have waived all such rights of set-off, netting, compensation or retention.

Waiver of Right of Set-Off. Subject to applicable law, neither any holder or beneficial owner of notes Notes nor the trustee acting on behalf of the holders and beneficial owners of notes Notes may exercise, claim or plead any right of set-off, netting, compensation or retention in respect of any amount owed to it by ING in respect of, or arising under, or in connection with, the notes Notes and each holder and beneficial owner of notesNotes, by virtue of its holding of any notes Notes or any interest therein, and the trustee acting on behalf of the holders and beneficial owners of notesNotes, shall be deemed to have waived all such rights of set-off, netting, compensation or retention.