ISR's Set-Off Right Sample Clauses
The ISR's Set-Off Right clause grants ISR the ability to offset amounts it owes to a counterparty against amounts the counterparty owes to ISR under the same agreement or related transactions. In practice, if ISR is required to make a payment but is also owed money by the same party, it can deduct the owed amount from its payment, effectively settling only the net balance. This clause is primarily used to streamline payment obligations, reduce credit risk, and ensure that ISR is not required to pay out funds while still being owed money by the other party.
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ISR's Set-Off Right. Without derogating from any right of set-off conferred upon ISR elsewhere in this Agreement or under applicable law, ISR shall have the right to set-off against any amounts that may be owed to Supplier (or to any Subcontractor, as the case may be) pursuant to this Agreement and/or to any other Agreement between ISR and Supplier, any amount, debt or payment owed by Supplier (or by any Subcontractor) to ISR pursuant to this Agreement (including but without limitation in the form of indemnification or compensation for damages, regardless if their sum is liquidated or not).