owed definition
owed in the fourth and eleventh lines.
owed means any amounts owed or otherwise accrued and payable (regardless of whether such amounts have been or could be invoiced) as of the Early Termination Date. If an obligation is unascertained, the Non-Defaulting Party may in good faith estimate that obligation and setoff in respect of the estimate, subject to the relevant Party accounting to the other when the obligation is ascertained. No setoff under this Section shall create a charge or other security interest except as may be provided under applicable Law. This setoff provision is without prejudice and in addition to any right of setoff, netting, off-set, combination of accounts, counterclaim, lien or other right to which any Party is at any time otherwise entitled (whether by operation of Law, contract or otherwise). Each Party represents and acknowledges that the rights set forth in this Section are an integral part of the Agreement and that without such rights the Parties would not be willing to enter into Transactions. Each Party further acknowledges that each is executing this Agreement on behalf of itself as principal and, with respect to this Section, as agent on behalf of its Affiliates, which Affiliates shall receive the benefits of this Section and otherwise be bound as if such Affiliates had directly signed this Agreement as it relates to this Section. Notwithstanding anything to the contrary in this Agreement, the Non-Defaulting Party shall not be required to pay to the Defaulting Party any amount under Section 3.5 until the Non-Defaulting Party receives satisfactory confirmation (which may include an opinion of its counsel) that all other obligations of the Defaulting Party to make any payments to the Non-Defaulting Party or any of its Affiliates under this Agreement or under any Other Obligations have been fully and finally performed. Should either Party during a Transaction Term become reasonably insecure about the other Party's creditworthiness, such Party may request (so long as an Event of Default has not occurred and is continuing with respect to the requesting Party) that the other Party provide (or extend, renew or increase, if collateral has already been provided) collateral in a form reasonably acceptable to the requesting Party sufficient to secure such Party's obligations hereunder, forms of such collateral to include, without limitation, a cash deposit, letter of credit or parent guaranty. To the extent either Party delivers collateral to the other under this Agreement, the Pa...
owed means amounts due and owing after application of any minimum transfer amount or threshold amount provided for in the relating Underlying Master Agreement.
More Definitions of owed
owed means, as of any date of determination, any amounts owed or otherwise accrued and payable as of such date.
owed means any amounts owed or otherwise accrued and payable (regardless of whether such amounts have been or could be invoiced), except for amounts disputed in good faith, as of the applicable date of determination and regardless of whether arising prior to or after the Agreement Date. Each Party represents and acknowledges that the prohibition set forth in this Section 10.1 is an integral part of this Agreement and the Administration Agreement and that without such prohibition the Parties would not be willing to enter into this Agreement or the Administration Agreement.
owed in the fourth and tenth lines. The following changes are made to Article 5: Subsection (g) of Section 5.1 is amended by adding the following to the end thereof: “provided, however, that notwithstanding the foregoing, an Event of Default shall not occur under either (i) or (ii) above if, as demonstrated to the reasonable satisfaction of the other party, (a) the event or condition referred to in (i) or the failure to pay referred to in (ii) is a failure to pay caused by an error or omission of an administrative or operational nature; and (b) funds were available to such party to enable it to make the relevant payment when due; and (c) such relevant payment is made within three Business Days following receipt of written notice from an interested party of such failure to pay;”
owed has the meaning set forth in Section 10.1.
owed means any amounts owed or otherwise accrued and payable (regardless of whether such amounts have been or could be invoiced) as of the Early Termination Date.
owed means, as of any date of determination, any amounts owed or otherwise accrued and/or payable (regardless of whether such amounts have been or could be invoiced) as of such date. If an obligation is unascertained or unliquidated at the time the Final Settlement Amount is determined, the Non-defaulting Party may in good faith estimate that obligation and setoff in respect of the estimate, subject to accounting to the Defaulting Party when the obligation is ascertained. The Non-defaulting Party setting off an amount pursuant to this Section 5 shall give notice of such setoff (i) at the time the Final Settlement Amount is determined and notice of the same is tendered in the case where the Non-defaulting Party is required to pay the Final Settlement Amount; or (ii) within a reasonable amount of time after the statement providing the details of the Final Settlement Amount is tendered by the Non-defaulting Party in the case where the Defaulting Party is required to pay the Final Settlement Amount, but in either event prior to the time that payment in respect of the Final Settlement Amount is finally due to the other Party.