Negative Amounts Clause Samples
The 'Negative Amounts' clause defines how situations involving negative values are handled within the context of the agreement. Typically, this clause clarifies that if a calculation results in a negative number—such as a payment, adjustment, or balance—that amount is either treated as zero or is otherwise not payable by the party. For example, if a party's net obligation after set-offs or adjustments is negative, the clause may specify that no payment is required from that party. This ensures clarity in financial settlements and prevents disputes over whether negative amounts should be paid or carried forward, thereby streamlining the administration of the contract.
Negative Amounts. If the amount of the Termination Payment calculated under any of Sections 18.2, 18.5 or 18.6 is a negative number, the Province shall be entitled to claim that amount (stated as a positive number) from the Contractor.
Negative Amounts. For the avoidance of doubt, for purposes of this Agreement, a smaller negative integer (i.e., closer to zero) is always “greater than” a larger negative integer (i.e., further from zero). For example, [-2] is greater than [-10].
Negative Amounts. To the extent the proceeds from Settled Transactions do not represent sufficient credits or the Settlement Account does not have a sufficient balance to pay amounts due or reasonably anticipated to become due under this Agreement, in addition to any other rights and remedies we may have under this Agreement (including termination), we may pursue one or more of the following options: (i) demand and receive immediate payment for such amounts; (ii) debit your Settlement Account or Reserve Account for the amount of the negative balance; (iii) withhold or offset your settlement payments until all amounts are paid; (iv) delay presentation of your refunds until you make a payment to us of a sufficient amount to cover the negative balance; and (v) pursue any other remedies we may have at law or in equity. Furthermore, if the amount represented by your Transaction Data in any day is negative due to refunds or credits being submitted by you in excess of your proceeds from Transactions, you shall provide us with sufficient funds prior to the submission of the Transaction Data so as to prevent the occurrence of a negative balance.
Negative Amounts. Merchant must maintain sufficient funds in the Settlement Account to prevent the occurrence of a negative balance. In the event that the proceeds from ▇▇▇▇▇▇▇▇’s Settled Transactions or the balance of ▇▇▇▇▇▇▇▇’s Settlement Account are not sufficient to pay amounts due from Merchant under this Agreement, Chase Paymentech may, in addition to any other rights and remedies under this Agreement, pursue any one or more of the following:
(a) demand and receive immediate payment for such amounts;
(b) debit the Settlement Account for the amount of the negative balance;
(c) apply funds held in the Reserve Account against the negative amount; or
(d) withhold all or some of Merchant’s Settlement funds and apply them against the negative amount.
Negative Amounts. Merchant shall maintain sufficient funds in the Settlement Account to prevent the occurrence of a negative balance. In the event that the proceeds from ▇▇▇▇▇▇▇▇’s Settled Transactions or the balance of ▇▇▇▇▇▇▇▇’s Settlement Account are not sufficient to pay amounts due under this Agreement, in addition to any other rights and remedies Chase Paymentech may have under this Agreement, Chase Paymentech may pursue one or more of the following options:
(a) demand and receive immediate payment for such amounts;
(b) debit the Settlement Account for the amount of the negative balance;
(c) apply funds held in the Reserve Account against the negative amount; and
(d) withhold all or some of Merchant’s Settlement funds and apply them against the negative amount. Furthermore, if the amount represented by Merchant’s Transaction Data in any day is negative due to Refunds or credits being submitted by Merchant in excess of its proceeds from Transactions, Merchant shall immediately provide Chase Paymentech with sufficient funds to prevent the occurrence of a negative balance.
Negative Amounts. As a condition to any purchase of an additional Collateral Obligation, if, as determined by the Collateral Manager, the amounts on deposit in the Principal Collection Subaccount after giving effect to (i) all expected debits and credits in connection with such purchase and all other sales and purchases (as applicable) previously or simultaneously committed to, and (ii) without duplication of amounts in the preceding clause (i), anticipated receipts of Principal Proceeds, is a negative amount, the absolute value of such amount may not be greater than 5.0% of the Collateral Principal Amount as of the Measurement Date immediately preceding the trade date for such purchase. In no event will the Trustee be obligated to settle a trade to the extent such action would result in a negative balance or overdraft of the Principal Collection Subaccount, and the Trustee shall incur no liability for refusing to wire funds in excess of the balance of funds in the Principal Collection Subaccount.
Negative Amounts. Merchant must maintain sufficient funds in the Settlement Account to prevent the occurrence of a negative balance. In the event that the proceeds from ▇▇▇▇▇▇▇▇’s Settled Transactions or the balance of ▇▇▇▇▇▇▇▇’s Settlement Account are not sufficient to pay amounts due from Merchant under this Agreement, Chase Paymentech may, in addition to any other rights and remedies under this Agreement, pursue any one or more of the following:
(a) demand and receive immediate payment for such amounts;
(b) debit the Settlement Account for the amount of the negative balance;