Offsetting Agreement definition
Examples of Offsetting Agreement in a sentence
The parties agree that this Offsetting Agreement shall become effective as of the date of its execution, and shall remain in force as long as the Local Interconnection Agreement remains effective.
The Buyer may become the legal owner of the Underlying Shares only upon: (1) the payment of the Acquisition Price no later than June 30, 2023 (final payment date); or (2) full discharge of the payment obligations with respect to the Acquisition Price by reason of offsetting mutual claims between creditors and debtors pursuant to the Claims Offsetting Agreement otherwise entered into by the Parties, and satisfaction of other conditions to be satisfied hereunder, whichever is later.
For purposes of this Offsetting Agreement and of the Local Interconnection Master Agreement executed by and between MAXCOM and TELMEX, the parties agree that the offsetting shall be understood as the discharge of debts between the parties derived from the reciprocal supply of the Local Interconnection Switching Services, provided however the Unbalance falls within the threshold in question.
The parties hereto agree that in case of a dispute regarding the construction or performance of this Offsetting Agreement, said dispute shall be settled pursuant to the provisions of the Nineteenth Clause of the Local Interconnection Agreement signed by the parties.
The purpose of this last provision is to discourage undue practices in Interconnection matters, as well as practices that tend to obtain unjustified advantages from this Offsetting Agreement.
The parties agree that they shall not pay to each other any consideration whenever the Unbalance is no greater than the threshold mentioned in the third clause of this Offsetting Agreement.
The parties agree to execute this Offsetting Agreement in order to offset between each of them the considerations derived from the reciprocal supply of Local Interconnection Switching Services, provided however such considerations fall within the scope determined by the unbalance thresholds set forth in this Offsetting Agreement, and pursuant to the following terms and conditions.
As of January the 1st of 2005, and in the future, until the parties execute a new Amending Agreement to Exhibit "B", the unbalance threshold shall be of 15% (fifteen percent) which equals considerations of 57.5% and 42.5%, and shall be applied during the life of the Local Interconnection Master Agreement executed by and between MAXCOM and TELMEX, and of this Offsetting Agreement.
The injection of Natural Gas in the NNGTS in order to offset Operational Gas is performed either by the Operator or by its counter-party in the Operational Gas Offsetting Agreement (Supplier of Operational Gas), provided that he is also a Transmission User.