Offset Rights. Except as otherwise expressly provided, each Party hereto, and each of its respective Affiliates at the time an offset is asserted, shall have, and may exercise at any time and from time to time, the right to offset any balance or balances due to the other Party under this Agreement at the time an offset is asserted; provided, however, that in the event of the insolvency of a Party hereto or any of its Affiliates, offsets shall only be allowed in accordance with the provisions of Applicable Law.
Appears in 4 contracts
Sources: Commercial Lines Master Agreement (Amtrust Financial Services, Inc.), Master Agreement (National General Holdings Corp.), Personal Lines Stock and Asset Purchase Agreement (National General Holdings Corp.)
Offset Rights. Except as otherwise expressly provided, each Each Party hereto, and each of its respective Affiliates at the time an offset is asserted, shall have, and may exercise at any time and from time to time, the right to offset any balance or balances due to the other Party Parties arising under this Agreement at Agreement, and regardless of whether on account of Losses, Premiums, Ceding Commission or Inuring Reinsurance Costs, related to or arising under the time an offset is assertedInsurance Contracts; provided, however, that in the event of the insolvency of a Party hereto or any of its Affiliates, offsets shall only be allowed in accordance with the provisions of Applicable Law.
Appears in 4 contracts
Sources: Quota Share Reinsurance Agreement (National General Holdings Corp.), Quota Share Reinsurance Agreement (Amtrust Financial Services, Inc.), Quota Share Reinsurance Agreement (Tower Group International, Ltd.)
Offset Rights. Except as otherwise expressly provided, each Party hereto, and each of its respective Affiliates at the time an offset is asserted, hereto shall have, and may exercise at any time and from time to time, the right to offset any balance or balances due to the other Party arising under this Agreement at Agreement, and regardless of whether on account of Premiums, Ceding Commissions, or Losses related to or arising under the time an offset is assertedPolicies; provided, however, that in the event of the insolvency of a Party hereto or any of its Affiliates, offsets shall only be allowed in accordance with the provisions of Applicable Law.
Appears in 3 contracts
Sources: Quota Share Reinsurance Agreement (National General Holdings Corp.), Commercial Lines Master Agreement (Amtrust Financial Services, Inc.), Master Agreement (National General Holdings Corp.)
Offset Rights. Except as otherwise expressly provided, each Party hereto, and each of its respective Affiliates at the time an offset is asserted, hereto shall have, and may exercise at any time and from time to time, the right to offset any balance or balances due to the other Party arising under this Agreement at Agreement, and regardless of whether on account of Premiums, Ceding Commissions, or Losses related to or arising under the time an offset is assertedFronted Policies; provided, however, that in the event of the insolvency of a Party hereto or any of its Affiliates, offsets shall only be allowed in accordance with the provisions of Applicable Law.
Appears in 2 contracts
Sources: Personal Lines Stock and Asset Purchase Agreement (National General Holdings Corp.), Stock and Asset Purchase Agreement (Amtrust Financial Services, Inc.)
Offset Rights. Except as otherwise expressly providedprovided herein, each Party hereto, and each of its respective Affiliates at the time an offset is asserted, shall have, and may exercise at any time and from time to time, the right to offset any balance or balances due to the other Party under this Agreement or any of its Affiliates at the time an offset is asserted, arising under this Agreement or any other agreement hereafter entered into by and between them; provided, however, that in the event of the insolvency of a Party hereto or any of its Affiliates, offsets shall only be allowed in accordance with the provisions of Applicable Law.
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