Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Defaulting Party is at any time otherwise entitled (whether by operation of law, contract or otherwise).
Appears in 4 contracts
Samples: Wholesale Renewable Power Purchase Agreement, Wholesale Renewable Power Purchase Agreement, Wholesale Renewable Power Purchase Agreement
Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Non- Defaulting Party is at any time otherwise entitled (whether by operation of law, contract or otherwise).
Appears in 2 contracts
Samples: Wholesale Renewable Power Purchase Agreement, Wholesale Renewable Power Purchase Agreement
Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Defaulting Party is at any time otherwise entitled (whether by operation of law, contract or otherwise).
Appears in 2 contracts
Samples: Wholesale Renewable Power and Storage Capacity Purchase Agreement, Wholesale Renewable Power and Storage Capacity Purchase Agreement
Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.38.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Non-Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Defaulting any Party is at any time otherwise entitled (whether by operation of lawLaw, contract or otherwise).
Appears in 1 contract
Samples: Power Supply and Service Agreement (TNP Enterprises Inc)
Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Non-Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Defaulting any Party is at any time otherwise entitled (whether by operation of law, contract or otherwise).. ARTICLE SIX
Appears in 1 contract
Samples: Power Purchase and Sale Agreement (Central Vermont Public Service Corp)
Closeout Setoffs. After calculation of a Termination Payment in accordance with Section 5.3, if the Defaulting Party would be owed the Termination Payment, the Non-Defaulting Party shall be entitled, at its option and in its discretion, to set off against such Termination Payment any amounts due and owing by the Defaulting Party to the Non-Defaulting Party under any other agreements, instruments or undertakings between the Defaulting Party and the Non- Defaulting Party. The remedy provided for in this Section 5.6 shall be without prejudice and in addition to any right of setoff, combination of accounts, lien or other right to which the Non- Defaulting Party is at any time otherwise entitled (whether by operation of law, contract or otherwise).otherwise).
Appears in 1 contract
