Set Off Amounts Sample Clauses

The "Set Off Amounts" clause allows one party to offset amounts it owes to the other party against amounts the other party owes to it under the same agreement or related agreements. In practice, if both parties have payment obligations to each other, this clause enables them to net those amounts, so only the difference is paid. This mechanism streamlines financial settlements and reduces the risk of non-payment by ensuring that mutual debts are efficiently reconciled.
Set Off Amounts. In addition to the terms of ARTICLE VIII and the other provisions hereof, but subject to the terms of ARTICLE XIII, the payment for transportation furnished by Contractor may be reduced in order to set off: a. amounts owed by Contractor to United for: (i) actual loss of revenue resulting from a failure on the part of Contractor to properly effect a sale pursuant to United's Customer Service Policies and Procedures applicable to the sale of tickets; and (ii) fraudulent, grossly negligent or erroneous acts of employees of Contractor which cause United to suffer a loss; b. such other adjustments as may be mutually agreed to by the parties from time to time; and c. any other undisputed amounts owed by Contractor to United under this Agreement. United will provide Contractor with supporting documentation for such intended adjustments. Contractor shall have the right to object to any such adjustment by providing United with written notice of its objection, together with supporting documentation, within * after its receipt of Contractor's objection. United agrees to negotiate in good faith with Contractor in order to resolve all such disputes within * after its receipt of Contractor's supporting documentation.
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Set Off Amounts. In addition to the terms of Article VIII and the other provisions hereof, but subject to the terms of Article XIII, the payment for transportation furnished by Contractor may be reduced in good faith by United in order to set off: a. amounts owed by Contractor to United for: i. fraudulent, grossly negligent or erroneous acts of employees of Contractor which cause United to suffer a loss; ii. operation of substitute aircraft pursuant to Article IV.A; iii. any insurance United may secure on Contractor’s behalf pursuant to Article XII.D; iv. any fines or penalties attributable to Contractor and actually paid by United and which are not attributable to or the responsibility of United hereunder. This includes, but is not limited to: a) unauthorized positive space travel b) unauthorized space available travel
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Set Off Amounts. In addition to the terms of Article VIII and the other provisions hereof, but subject to the terms of Article XIII, the payment for transportation furnished by Contractor may be reduced in order to set off: a. amounts owed by Contractor to United for: i. actual loss of revenue resulting from a failure on the part of Contractor to properly effect a sale pursuant to United’s Customer Service Policies and Procedures applicable to the sale of tickets; ii. fraudulent, grossly negligent or erroneous acts of employees of Contractor which cause United to suffer a loss; iii. Any Program Fees specified in Article VIII; iv. the currently effective industry standard rate of commission settlement under ATC Resolution 5.60 for tickets issued under such resolution for the markets referenced on Appendix L; v. unreported sales on United tickets assigned to Contractor; vi. refunds for interrupted flights or failures to carry out Contractor services made on United refund documents; and vii. any ATPCO tariff filing fee pursuant to Article III.G; b. Such other adjustments as may be mutually agreed to by the parties from time to time; and c. Any other amounts owed by Contractor to United. United will provide Contractor with supporting documentation for such intended adjustments. Contractor shall have the right to object to any such adjustment by providing United with written notice of its objection, together with supporting documentation, within 90 days after its receipt. United agrees to negotiate in good faith with Contractor to resolve all such disputes within 90 days after its receipt of Contractor’s notice to United.
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Set Off Amounts. Subject to the terms of Article XIII, the payment for transportation furnished by Contractor may be reduced in order to set off any of the following amounts owed by Contractor to United and arising after the Effective Date: 1. amounts owed by Contractor to United for: a. fraudulent, grossly negligent or erroneous acts of employees of Contractor which cause United to suffer a loss; and b. unreported sales on United tickets assigned to Contractor; 2. such other adjustments as may be mutually agreed to by the parties from time to time; 3. any other amounts owed by Contractor to United under this Agreement; and 4. at United’s discretion, any ITE vouchers issued outside of the guidelines established in Series 65. United will notify Contractor of any such adjustment that it intends to make at least fourteen days prior to the date of the payment to which the adjustment relates. United will provide Contractor with supporting documentation for such intended adjustments. Contractor shall have the right to object to any such adjustment by providing United with written notice of its objection, together with supporting documentation, within 30 days after its receipt of the notice provided by United describing such adjustments. United agrees to negotiate in good faith with Contractor in order to resolve all such disputes within 30 days after its receipt of Contractor’s notice to United. If Contractor objects to any adjustment, the amounts payable to Contractor may be reduced by any part of the adjustment not in dispute and no more than [***] of any portion of the adjustment that is in dispute until the dispute between Contractor and United is resolved. If United sets off amounts owed to any affiliate of United against any payment due to Contractor from United, United shall cause its affiliate to release Contractor with respect to the amounts set off by United as if Contractor paid such amounts to the affiliate directly.
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Related to Set Off Amounts

  • Set-Off, etc No Collateral Obligation has been compromised, adjusted, extended, satisfied, subordinated, rescinded, set-off or modified by the Borrower or the Obligor thereof, and no Collateral is subject to compromise, adjustment, extension, satisfaction, subordination, rescission, set-off, counterclaim, defense, abatement, suspension, deferment, deduction, reduction, termination or modification, whether arising out of transactions concerning the Collateral or otherwise, by the Borrower or the Obligor with respect thereto, except, in each case, pursuant to the Transaction Documents and for amendments, extensions and modifications, if any, to such Collateral otherwise permitted hereby.

  • Set-Offs After the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably authorizes and directs Lender from time to time to charge Borrower’s accounts and deposits with Lender (or its Affiliates), and to pay over to Lender an amount equal to any amounts from time to time due and payable to Lender hereunder, under the Note or under any other Loan Document. Borrower hereby grants to Lender a security interest in and to all such accounts and deposits maintained by the Borrower with Lender (or its Affiliates).

  • Set-Off The State may set off any sums which the Party owes the State against any sums due the Party under this Agreement; provided, however, that any set off of amounts due the State of Vermont as taxes shall be in accordance with the procedures more specifically provided hereinafter.

  • Excluded Amounts With the prior written consent of the Administrative Agent, the Collateral Manager may direct the Collateral Agent and the Securities Intermediary to withdraw from the Collection Account and pay to the Person entitled thereto any amounts credited thereto constituting Excluded Amounts if the Collateral Manager has, prior to such withdrawal and consent, delivered to the Administrative Agent, the Collateral Agent, the Borrower and each Lender a report setting forth the calculation of such Excluded Amounts in form and substance reasonably satisfactory to the Administrative Agent and each Lender.

  • No set-off by Obligors All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.