Common use of Offset Clause in Contracts

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 75 contracts

Samples: capitalmarkets.fanniemae.com, capitalmarkets.fanniemae.com, capitalmarkets.fanniemae.com

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Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 23 contracts

Samples: Loss Reinsurance Agreement (Scpie Holdings Inc), Loss Reinsurance Agreement (Scpie Holdings Inc), Loss Reinsurance Agreement (Scpie Holdings Inc)

Offset. The As of any date, the Company and the any Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may may, with the concurrence of the other party, exercise such right any time, whether the balances due are on account of premiums premiums, Covered Amounts or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetlate payment fees.

Appears in 11 contracts

Samples: Quota Share Reinsurance Contract, Quota Share Reinsurance Contract, Acis 2020 Hqa3

Offset. The Company and or the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 7 contracts

Samples: Quota Share Treaty (Amerinst Insurance Group LTD), Value Plan Policies (Amerinst Insurance Group LTD), Accountants Professional Liability Quota Share (Amerinst Insurance Group LTD)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. However, howeverin the event of the insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 6 contracts

Samples: Procentury Corp, Procentury Corp, Procentury Corp

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable insolvency or liquidation law.

Appears in 6 contracts

Samples: Medical Professional Liability Excess of Loss (Positive Physicians Holdings,inc.), Reinsurance Contract (Positive Physicians Holdings,inc.), Reinsurance Contract (Positive Physicians Holdings,inc.)

Offset. A. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractContract or any other contracts between the parties. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 5 contracts

Samples: Interests and Liabilities Agreement (Homeowners of America Holding Corp), Homeowners of America Holding Corp, Homeowners of America Holding Corp

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 4 contracts

Samples: Reinsurance Contract (Assuranceamerica Corp), Reinsurance Contract (Assuranceamerica Corp), Flagstone Reinsurance Holdings LTD

Offset. The Company and or the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right at any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetlosses.

Appears in 4 contracts

Samples: Crop Hail Insurance Quota Share Contract (Symons International Group Inc), Crop Hail Insurance Quota Share Contract (Goran Capital Inc), Goran Capital Inc

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable law.

Appears in 3 contracts

Samples: Casualty Excess of Loss Reinsurance Contract Effective (Penn Millers Holding Corp), Reinsurance Contract (Penn Millers Holding Corp), Penn Millers Holding Corp

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. However, howeverin the event of the insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 3 contracts

Samples: Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.), Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.), Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.)

Offset. The Company and or the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedLosses. In the instance of insolvency of the Company, however, that nothing in this Article applicable state law shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetapply.

Appears in 2 contracts

Samples: Entire Agreement (Cna Surety Corp), Quota Share Treaty (Cna Surety Corp)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement or any other agreement between the Company and the Reinsurer. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses Reinsurance Premiums, Ultimate Net Losses, Loss Adjustment Expenses or otherwise; provided. However, howeverin the event of insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 2 contracts

Samples: Aggregate Excess of Loss Retrocession Agreement (Tower Group, Inc.), Aggregate Excess of Loss Retrocession Agreement (Tower Group, Inc.)

Offset. The Company and the Reinsurer shall will have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 2 contracts

Samples: Prudential Variable Contract Account Gi-2, Prudential Variable Contract Account Gi-2

Offset. The Company Reinsured and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable law.

Appears in 2 contracts

Samples: Philadelphia Consolidated Holding Corp, Philadelphia Consolidated Holding Corp

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Interests and Liabilities Contract (Scpie Holdings Inc)

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Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: capitalmarkets.fanniemae.com

Offset. The Company and the Reinsurer Reinsurers shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether time where the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Miix Group Inc

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offset.as permitted by applicable law,

Appears in 1 contract

Samples: Penn Millers Holding Corp

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. Contract The party asserting the right of offset may exercise such right at any time, time whether the balances due are on account of premiums or losses or otherwise; provided. In the event of the insolvency of a party hereto, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offsets shall be no right to offsetallowed only in accordance with the provisions of any applicable state statutes governing offset entitlement.

Appears in 1 contract

Samples: Loss Reinsurance Contract (Cna Surety Corp)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractContract only. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Interests and Liabilities Agreement (RTW Inc /Mn/)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses losses, or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Reinsurance Agreement (21st Century Holding Co)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses losses, or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Agreement (American Physicians Service Group Inc)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article . This right of offset shall apply to any amounts due to not be affected by the Insured under this Contract and any Exhibits hereto (including insolvency of either the Policy), as to which amounts there shall be no right to offsetCompany or the Reinsurer.

Appears in 1 contract

Samples: Ismie Holdings Inc

Offset. The Except with respect to Reinsurer’s Obligations under Article 14 of this Agreement, the Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Samples: Liability Quota Share Agreement (Amerinst Insurance Group LTD)

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