Setoff Ratable Payments. 11.1. Setoff..........................................................55 11.2.
Setoff Ratable Payments. (a) In addition to, and without limitation of, any rights of the Banks or Agents under applicable law, if the Company becomes insolvent, however evidenced, or any Default occurs and is continuing, any indebtedness or other obligation owing from any Bank or Agent to the Company (including all account balances, whether provisional or final and whether or not collected or available but excluding (x) any accounts designated as or representing “customer segregated funds” accounts and (y) any accounts pledged to such Bank to secure an overdraft facility to ensure the settlement of foreign currency futures and options contracts traded on the exchange of the Company, CBOT, NYMEX or any other exchange in respect of which the Company has equivalent authority) may be offset and applied toward the payment of the Obligations owing to such Bank or Agent, as the case may be, whether or not the Obligations, or any part thereof, shall then be due.
(b) Subject to Section 2.11, if any Bank, whether by setoff or otherwise, has payment made to it upon any Loan under any Applicable Tranche in a greater proportion than that received by any other Bank upon any Loan in such Applicable Tranche constituting a portion of the same Advance, such Bank shall distribute to the Administrative Agent an amount equal to each of the other Banks’ pro rata share in such Applicable Tranche of such payment. Such payment shall be distributed ratably between the Banks in such Applicable Tranche in proportion to each Bank’s respective share of the total Obligations in such Applicable Tranche outstanding under this Agreement. Any payment distributed pursuant to this subsection (b) to the Administrative Agent shall be distributed by the Administrative Agent to the applicable Banks in accordance with the provisions of this Agreement.
(c) Subject to Section 2.11, if any Bank, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for any category of its Obligations or such amounts which may be subject to setoff, in any case, in excess of its pro rata share thereof, such Bank agrees, promptly upon demand, to take such action necessary such that all Banks share in the benefits of such collateral ratably in proportion to their Obligations of the same category. In case any such payment is disturbed by legal process, or otherwise, appropriate further adjustments shall be made.
(d) The Company agrees that any Participant in a Loan may...
Setoff Ratable Payments. In addition to, and without limitation of, any rights of the Lenders under applicable law, if the Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due.
Setoff Ratable Payments. 48 11.1. Setoff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 11.2.
Setoff Ratable Payments. 12.1 Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if any Default occurs and is continuing, any Indebtedness from any Lender to the Borrower (including all account balances, whether provisional or final and whether or not collected or available) may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part hereof, shall then be due. Such Lender shall give prompt notice to the Borrower and the Administrative Agent of any such offset.
Setoff Ratable Payments. 11.1 Setoff 58 11.2 Ratable Payments 58
Setoff Ratable Payments. 11.1 Setoff 75 11.2 Ratable Payments 76
Setoff Ratable Payments. 71 Section 12.01. Setoff. ....................................................................................................71
Setoff Ratable Payments. 85 13.1 Setoff......................................................85 13.2 Ratable Payments............................................85 13.3 Application of Payments.....................................86 13.4 Relations Among Lenders.....................................86 ARTICLE XIV BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS.......86 14.1 Successors and Assigns......................................86 14.2 Participations..............................................87 14.3 Assignments.................................................87 14.4 Confidentiality.............................................90 14.5 Dissemination of Information................................90 ARTICLE XV NOTICES.................................................90
Setoff Ratable Payments. Page 70 14.1. Setoff.................................................Page 70 14.2. Ratable Payments.......................................Page 71 ARTICLE XV BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS.............Page 71 15.1. Successors and Assigns.................................Page 71 15.2. Participations.........................................Page 71 15.2.1. Permitted Participants; Effect................Page 71 15.2.2. Voting Rights.................................Page 72 15.2.3. Benefit of Setoff.............................Page 72 15.3. Assignments............................................Page 72 15.3.1. Permitted Assignments.........................Page 72 15.3.2. Effect; Effective Date........................Page 73 15.4. Dissemination of Information...........................Page 73 15.5. Tax Treatment..........................................Page 74 ARTICLE XVI
