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The foregoing shall not be construed as a waiver by Borrower of any such rights or claims against Lender, but any recovery upon any such rights or claims shall be had from Lender separately, it being the intent of this Agreement and the Note that Borrower shall be obligated to pay, absolutely and unconditionally, all amounts due under this Agreement and the Note.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "monetary-default", "type": "definition", "offset": [18, 34]}, {"key": "by-lender", "type": "definition", "offset": [43, 52]}, {"key": "agreement-or", "type": "definition", "offset": [64, 76]}, {"key": "the-note", "type": "clause", "offset": [77, 85]}, {"key": "no-setoff", "type": "clause", "offset": [87, 96]}, {"key": "in-any-action", "type": "clause", "offset": [273, 286]}, {"key": "suit-or-proceeding", "type": "clause", "offset": [288, 306]}, {"key": "the-foregoing", "type": "definition", "offset": [364, 377]}, {"key": "waiver-by-borrower", "type": "clause", "offset": [406, 424]}, {"key": "claims-against-lender", "type": "clause", "offset": [447, 468]}, {"key": "intent-of-this-agreement", "type": "clause", "offset": [568, 592]}, {"key": "borrower-shall", "type": "clause", "offset": [611, 625]}, {"key": "to-pay", "type": "clause", "offset": [639, 645]}, {"key": "all-amounts-due", "type": "clause", "offset": [679, 694]}], "hash": "f4011aa6dc7a6520ca7bb92777cea696", "id": 1}, {"size": 9, "samples": [{"hash": "hXkVanAlLzU", "uri": "/contracts/hXkVanAlLzU#no-setoffs", "label": "Master Loan and Security Agreement (Cosine Communications Inc)", "score": 18.0, "published": true}, {"hash": "gLb4KCmOPVW", "uri": "/contracts/gLb4KCmOPVW#no-setoffs", "label": "Master Loan and Security Agreement (Cytogen Corp)", "score": 18.0, "published": true}, {"hash": "eB3cJ0BbnlX", "uri": "/contracts/eB3cJ0BbnlX#no-setoffs", "label": "Master Loan and Security Agreement (Internap Network Services Corp/Wa)", "score": 18.0, "published": true}], "snippet": "Your obligation to pay us all Payments is absolute and unconditional. You are not excused from making the Payments, in full, for any reason. You agree that you have no defense for failure to make the Payments and you will not make any counterclaims or setoffs to avoid making the Payments.", "snippet_links": [{"key": "pay-us", "type": "clause", "offset": [19, 25]}, {"key": "all-payments", "type": "clause", "offset": [26, 38]}, {"key": "absolute-and-unconditional", "type": "clause", "offset": [42, 68]}, {"key": "for-any-reason", "type": "clause", "offset": [125, 139]}, {"key": "you-agree", "type": "clause", "offset": [141, 150]}, {"key": "no-defense", "type": "clause", "offset": [165, 175]}, {"key": "failure-to-make", "type": "clause", "offset": [180, 195]}], "hash": "2ce6984bacf084726e96d645bda3faf6", "id": 3}, {"size": 7, "samples": [{"hash": "jJ5U0qwLti7", "uri": "/contracts/jJ5U0qwLti7#no-setoffs", "label": "Participated Loan Agreement", "score": 32.3244895935, "published": true}, {"hash": "lJdOkqSmeJ", "uri": "/contracts/lJdOkqSmeJ#no-setoffs", "label": "Syndicated Loan Agreement", "score": 32.1520347595, "published": true}, {"hash": "k5kxcoQgtIc", "uri": "/contracts/k5kxcoQgtIc#no-setoffs", "label": "Syndicated Loan Agreement", "score": 26.5687885284, "published": true}], "snippet": "With respect to a monetary default claimed by us under this Agreement or the Note, no setoff, claim, counterclaim, reduction or diminution of any obligation or defense of any kind or nature that you may have against us shall be available against us in any action, suit or proceeding brought by us to enforce this Agreement or the Note. The foregoing shall not be construed as a waiver by you of any such rights or claims against us, but any recovery upon any such rights or claims shall be had from us separately, it being the intent of this Agreement and the Note that you shall be obligated to pay, absolutely and unconditionally, all amounts due under this Agreement and the Note. \u2022 Publicity. We may announce and publicize the financing evidenced under this Agreement in such a manner as we may elect. You consent to our use of any images, video or other materials pertinent to the Loan.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "monetary-default", "type": "definition", "offset": [18, 34]}, {"key": "agreement-or", "type": "definition", "offset": [60, 72]}, {"key": "the-note", "type": "clause", "offset": [73, 81]}, {"key": "no-setoff", "type": "clause", "offset": [83, 92]}, {"key": "in-any-action", "type": "clause", "offset": [249, 262]}, {"key": "suit-or-proceeding", "type": "clause", "offset": [264, 282]}, {"key": "the-foregoing", "type": "definition", "offset": [336, 349]}, {"key": "claims-against-us", "type": "clause", "offset": [414, 431]}, {"key": "intent-of-this-agreement", "type": "clause", "offset": [527, 551]}, {"key": "to-pay", "type": "clause", "offset": [593, 599]}, {"key": "all-amounts-due", "type": "clause", "offset": [633, 648]}, {"key": "the-financing", "type": "clause", "offset": [727, 740]}, {"key": "you-consent-to", "type": "clause", "offset": [806, 820]}, {"key": "other-materials", "type": "definition", "offset": [853, 868]}, {"key": "the-loan", "type": "clause", "offset": [882, 890]}], "hash": "11e12f9454847e2d2b0b931e7de94a42", "id": 4}, {"size": 5, "samples": [{"hash": "dIfWRa5BAjW", "uri": "/contracts/dIfWRa5BAjW#no-setoffs", "label": "Credit Agreement (Bell Industries Inc /New/)", "score": 21.0, "published": true}, {"hash": "kVf9wgUie1d", "uri": "/contracts/kVf9wgUie1d#no-setoffs", "label": "Convertible Promissory Note (Bell Industries Inc /New/)", "score": 20.0, "published": true}, {"hash": "j962fBNMwtL", "uri": "/contracts/j962fBNMwtL#no-setoffs", "label": "Intercreditor Agreement (Bell Industries Inc /New/)", "score": 20.0, "published": true}], "snippet": "The Maker shall pay (and, if applicable, this Note shall automatically accrete in respect of) principal and interest under the Note without any deduction for any setoff or counterclaim.", "snippet_links": [{"key": "if-applicable", "type": "clause", "offset": [26, 39]}, {"key": "this-note", "type": "clause", "offset": [41, 50]}, {"key": "in-respect-of", "type": "clause", "offset": [79, 92]}, {"key": "principal-and-interest", "type": "definition", "offset": [94, 116]}, {"key": "the-note", "type": "clause", "offset": [123, 131]}, {"key": "setoff-or-counterclaim", "type": "clause", "offset": [162, 184]}], "hash": "007005368bafacc48a2caa3d836c8ed5", "id": 5}, {"size": 3, "samples": [{"hash": "cJsBY55Bh2o", "uri": "/contracts/cJsBY55Bh2o#no-setoffs", "label": "Employment Agreement (Peregrine Systems Inc)", "score": 19.0, "published": true}, {"hash": "3PXurwaJGre", "uri": "/contracts/3PXurwaJGre#no-setoffs", "label": "Employment Agreement (Peregrine Systems Inc)", "score": 19.0, "published": true}], "snippet": "Section 5 of the Agreement is not modified.", "snippet_links": [{"key": "section-5", "type": "definition", "offset": [0, 9]}, {"key": "the-agreement", "type": "clause", "offset": [13, 26]}], "hash": "97ad29823c86803b2ab567bae97807e6", "id": 7}, {"size": 2, "samples": [{"hash": "elxhErzb7SD", "uri": "/contracts/elxhErzb7SD#no-setoffs", "label": "Credit Agreement (Nevada Property 1 LLC)", "score": 21.3942508698, "published": true}, {"hash": "2HLOeSzkWmC", "uri": "/contracts/2HLOeSzkWmC#no-setoffs", "label": "Credit Agreement (Nevada Property 1 LLC)", "score": 21.3942508698, "published": true}], "snippet": "The Debt shall be payable without setoff, counterclaim or any other deduction whatsoever.", "snippet_links": [{"key": "the-debt", "type": "clause", "offset": [0, 8]}], "hash": "b0b3f4c11309dbd7ec3bff53b3788003", "id": 8}, {"size": 2, "samples": [{"hash": "lKZnF8VltID", "uri": "/contracts/lKZnF8VltID#no-setoffs", "label": "Receivables Transfer Agreement (Trendwest Resorts Inc)", "score": 18.0, "published": true}, {"hash": "f24uqr27oJB", "uri": "/contracts/f24uqr27oJB#no-setoffs", "label": "Receivables Transfer Agreement (Trendwest Resorts Inc)", "score": 18.0, "published": true}], "snippet": "Breaches or Unmatured Termination Events. No facts shall be known to the Seller which would give rise to any right of rescission, setoff, counterclaim or defense, nor shall the same have been asserted or threatened, with respect to the Receivable; no default, breach, violation or event permitting acceleration under the terms of such Receivable shall have occurred as of the related Cutoff Date or Transfer Date, as the case may be; no continuing condition that with notice or the lapse of time would constitute a default or event of default or breach, violation or event permitting acceleration under the terms of such Receivable shall have arisen; and the Seller shall not have waived any of the foregoing.", "snippet_links": [{"key": "termination-events", "type": "clause", "offset": [22, 40]}, {"key": "to-the-seller", "type": "definition", "offset": [66, 79]}, {"key": "right-of-rescission", "type": "definition", "offset": [109, 128]}, {"key": "with-respect-to", "type": "clause", "offset": [216, 231]}, {"key": "no-default", "type": "definition", "offset": [248, 258]}, {"key": "terms-of", "type": "clause", "offset": [321, 329]}, {"key": "cutoff-date", "type": "definition", "offset": [384, 395]}, {"key": "transfer-date", "type": "clause", "offset": [399, 412]}, {"key": "the-case", "type": "definition", "offset": [417, 425]}, {"key": "with-notice", "type": "clause", "offset": [463, 474]}, {"key": "lapse-of-time", "type": "clause", "offset": [482, 495]}, {"key": "default-or-breach", "type": "clause", "offset": [535, 552]}, {"key": "the-seller-shall", "type": "clause", "offset": [655, 671]}, {"key": "the-foregoing", "type": "definition", "offset": [695, 708]}], "hash": "6df433576095be79122902940d7522eb", "id": 9}, {"size": 2, "samples": [{"hash": "eWiNMCB32Jh", "uri": "/contracts/eWiNMCB32Jh#no-setoffs", "label": "Lease Agreement", "score": 25.7578849792, "published": true}, {"hash": "bMrGNJZwoIC", "uri": "/contracts/bMrGNJZwoIC#no-setoffs", "label": "Lease Agreement", "score": 25.2220363617, "published": true}], "snippet": "Lessee shall pay all Rent directly to Lessor without setoff or deduction of any description. Lessee expressly waives any right of setoff.", "snippet_links": [{"key": "lessee-shall", "type": "clause", "offset": [0, 12]}, {"key": "to-lessor", "type": "definition", "offset": [35, 44]}, {"key": "deduction-of", "type": "clause", "offset": [63, 75]}, {"key": "right-of-setoff", "type": "definition", "offset": [121, 136]}], "hash": "a4a41a61c0215d3960bac878ce3fbb6f", "id": 10}], "next_curs": "ClMSTWoVc35sYXdpbnNpZGVyY29udHJhY3Rzci8LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhNuby1zZXRvZmZzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "No Setoffs", "size": 113, "children": [["commou-area-charges", "Commou Area Charges"], ["revisions-to-common-area", "Revisions to Common Area"], ["use-of-common-area", "Use of Common Area"], ["parking", "Parking"], ["operation-and-control", "Operation and Control"]], "parents": [["the-credit", "The Credit"], ["general", "General"], ["organization-control-and-management-transfers", "Organization; Control and Management; Transfers"], ["loan-repayment", "Loan Repayment"], ["loan-payment", "Loan Payment"]], "id": "no-setoffs", "related": [["no-setoff", "No Setoff", "No Setoff"], ["no-setoffs-or-counterclaims", "No Setoffs or Counterclaims", "<strong>No Setoffs</strong> or Counterclaims"], ["no-set-off-or-counterclaim", "No set-off or counterclaim", "No set-off or counterclaim"], ["no-set-off", "No Set-Off", "No Set-Off"], ["no-set-off-by-obligors", "No set-off by Obligors", "No set-off by Obligors"]], "related_snippets": [], "updated": "2025-07-23T06:00:56+00:00", "also_ask": ["What negotiation leverage does a No Setoffs clause provide to each party?", "Which exceptions or carve-outs are essential to include for balanced risk?", "What are the most common legal pitfalls or unenforceability risks with No Setoffs clauses?", "How do No Setoffs provisions differ across jurisdictions or contract types?", "How have courts interpreted and enforced No Setoffs clauses in recent case law?"], "drafting_tip": "Prohibit setoffs explicitly to prevent unilateral deductions; clarify exceptions to avoid disputes; use precise language to ensure enforceability.", "explanation": "A No Setoffs clause prohibits one party from reducing or withholding amounts owed under a contract by claiming that the other party owes them money or has breached another obligation. In practice, this means that payments must be made in full and on time, regardless of any disputes or counterclaims that may exist between the parties. This clause ensures that contractual payment obligations are met without delay or deduction, thereby providing certainty of cash flow and preventing parties from unilaterally adjusting payments to address unrelated grievances."}, "json": true, "cursor": ""}}