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Credit Agreement Right of Setoff Sample Clause
Leveraged Financing 2014 ( Edition)
Book Publication Date:
Rights of setoff in credit agreements allow the administrative agent, the lenders and their affiliates to set off obligations owed by the borrower against funds of the borrower held by the other parties.
This sample setoff right clause is based on LSTA's model credit agreement clauses.
PLI Item #:
Corporate & Securities
"Loan Syndication and Trading Association"
"representations and warranties"
"right of setoff"
"event of default"
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