Recoup Clause Samples
The "Recoup" clause allows one party to recover or offset amounts owed to them by deducting such sums from payments otherwise due to the other party. In practice, this means if a party is entitled to reimbursement or compensation—such as for overpayments, damages, or other obligations—they can subtract these amounts from future payments instead of waiting for a separate reimbursement. This clause streamlines the process of settling financial imbalances between parties, ensuring efficient resolution of debts and reducing the administrative burden of separate payment demands.
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Recoup. Any handling or reworking of product necessary to repair or correct damage or deficiency to render the product fit for resale.
Recoup. So long as the Adviser continues to serve as investment adviser to the Funds, the Adviser shall be entitled to recoup such waived amounts from a Fund in any of the three (3) fiscal years following the fiscal year in which the Adviser waived fees for that Fund, subject to the terms of any fee waiver and/or expense reimbursement agreement(s) then applicable to the Funds and the Adviser.