RIGHT OF OFFSET definition

RIGHT OF OFFSET. If any payment is not made on time, or if the entire balance becomes due and payable and is not paid, all or part of the amount due may be offset out of any account or other property which the Borrower has at the Bank or any affiliate of the Bank without prior notice or demand.
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RIGHT OF OFFSET means the right of B&W to offset against the Credit Facility all royalties accruing under Section 3.06 hereof, the Trademark License and Royalty Agreement, the Other Low TSNA Tobacco Royalty Agreement and the Hard Tobacco Agreement pursuant to the terms and provisions of those agreements and the Restated Loan Agreement.
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RIGHT OF OFFSET shall have the meaning set forth in Section 8.8.
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Examples of RIGHT OF OFFSET in a sentence

  • RIGHT OF OFF-SET The Plan has a right of off-set to satisfy reimbursement claims against Covered Persons for money received by the Covered Person from a third party, including any insurer.

  • THIS NOTE IS SUBJECT TO A RIGHT OF OFFSET IN FAVOR OF INVESTOR UPON THE OCCURRENCE OF CERTAIN EVENTS AS SET FORTH IN MORE DETAIL IN SECTION 6 BELOW.

  • THIS NOTE IS SUBJECT TO A RIGHT OF OFFSET IN FAVOR OF INVESTOR (AS DEFINED BELOW) UPON THE OCCURRENCE OF CERTAIN EVENTS AS SET FORTH IN MORE DETAIL IN SECTION 6 BELOW.

  • RIGHT OF OFFSET - Except as limited by law, we have the right to offset amounts you owe us against your accounts with us.

  • The framework would not require any financial commitment but outlines specific criteria that EVCP companies would have to adhere to.

  • RIGHT OF OFFSET The customer agreements between the Partnership and brokers give the Partnership the legal right to net unrealized gains and losses.

  • RIGHT OF OFFSET AHCCCS shall be entitled to offset against any sums due the Contractor any expenses or costs incurred by AHCCCS or damages assessed by AHCCCS concerning the Contractor's non- conforming performance or failure to perform the Contract, including but not limited to expenses, costs and damages.

  • RIGHT OF OFFSET AHCCCS shall be entitled to offset against any sums due the Contractor any expenses or costs incurred by AHCCCS or damages assessed by AHCCCS concerning the Contractor’s non-conforming performance or failure to perform the contract, including but not limited to expenses, costs and damages.

  • Since Ms. Barber did not (and, it appears, cannot) allege that Fairbanks had any participation or knowledge in Sterling’s decision to extend credit to Ms.Barber, Count IV of Ms. Barber’s complaint will be dismissed as to Fairbanks.

  • GPMI AND ASSIGNEE FURTHER HEREBY WAIVE ANY RIGHT OF OFFSET OR RIGHT TO INTERPOSE ANY COUNTERCLAIM IN ANY SUCH ACTION, EXCEPT FOR COMPULSORY COUNTERCLAIMS.


More Definitions of RIGHT OF OFFSET

RIGHT OF OFFSET. The Bank may, without prior notice or demand, obtain payment of any amount due, payable to it under this Agreement by debiting the account(s) of the Client as identified in this agreement. In the event there are not sufficient funds available to cover the Client’s obligations, the Client agrees that the Bank may debit any account maintained by the Client with the Bank in order to obtain payment of the Client’s obligations under this Agreement. Disclaimer of Warranty: Disclaimer of warranty you agree that your use of the service and all information and content (including that of third party service providers) is at your risk and is provided on an “as is” and “as available” basis. Neither the Bank nor any third party service provider makes any express or implied warranty as to the merchantability or fitness for a particular purpose, or noninfringement, quality, accuracy, or suitability of the service, and neither the Bank nor any third party service provider makes any other warranty with respect to the service except those warranties, promises, commitments, guarantees, or representations specifically stated in this agreement. Without limiting the generality of the foregoing, the Bank expressly disclaims any warranties regarding the operation, performance or functionality of the service, including, without limitation, that the service will operate without interruption or be error free. You further acknowledge that there are certain security, corruption, transmission error and availability risks associated with using open networks such as the internet, and telecommunication lines or circuits. You hereby assume all of the foregoing risks. You agree that no oral or written advice or representation obtained from any bank employee or representative shall create a warranty or representation for purposes of this agreement or the service.
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RIGHT OF OFFSET shall have the meaning given that term in Section 7.7.
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RIGHT OF OFFSET. Payment. "***"
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RIGHT OF OFFSET shall have the meaning set forth in Section 10.06.
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Related to RIGHT OF OFFSET

  • Right of Others means, as to any Property in which a Person has an interest, any legal or equitable right, title or other interest (other than a Lien) held by any other Person in that Property, and any option or right held by any other Person to acquire any such right, title or other interest in that Property, including any option or right to acquire a Lien; provided, however, that (a) no covenant restricting the use or disposition of Property of such Person contained in any Contractual Obligation of such Person and (b) no provision contained in a contract creating a right of payment or performance in favor of a Person that conditions, limits, restricts, diminishes, transfers or terminates such right shall be deemed to constitute a Right of Others.

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Right of First Refusal means the Company’s right of first refusal described in Section 8.

  • Right of Reference means the “right of reference” defined in 21 CFR 314.3(b), including with regard to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by reference or otherwise) contained in Regulatory Documentation (and any data contained therein) filed with such Regulatory Authority with respect to a Party’s Compound, only to the extent necessary for the conduct of the Study in such country or as otherwise expressly permitted or required under this Agreement to enable a Party to exercise its rights or perform its obligations hereunder.

  • Right of Co-Sale means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice.

  • Right of First Refusal and Co-Sale Agreement means the agreement among the Company, the Purchasers, and certain other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit G attached to this Agreement.

  • Permitted Right of Others means a Right of Others consisting of (a) an interest (other than a legal or equitable co-ownership interest, an option or right to acquire a legal or equitable co-ownership interest and any interest of a ground lessor under a ground lease), that does not materially impair the fair market value or use of Property for the purposes for which it is or may reasonably be expected to be held, (b) an option or right to acquire a Lien that would be a Permitted Encumbrance, (c) the subordination of a lease or sublease in favor of a financing entity and (d) a license, or similar right, of or to Intangible Assets granted in the ordinary course of business.

  • Right of First Refusal Agreement means the Right of First Refusal Agreement, dated as of August 4, 2017, among the Partnership, the Operating Partnership and NextEra Energy Resources, LLC.

  • offset [873,884]},{"key":"for-the-purposes-of","type":"clause","offset":[885,904]},{"key":"rendering","type":"clause","offset":[905,914]},{"key":"examination","type":"clause","offset":[964,975]},{"key":"lcb","type":"definition","offset":[979,982]},

  • Right of First Offer shall have the meaning set forth in Section 6.5.2.

  • Right of Repurchase means the Company’s right of repurchase described in Section 7.

  • Dissent Rights means the rights of dissent in respect of the Arrangement described in the Plan of Arrangement;

  • Election to Foreclose Any election by the Purchaser to proceed with the Commencement of Foreclosure, made in accordance with Section 2.03(a).

  • Set-off means set-off, offset, combination of accounts, right of retention or withholding or similar right or requirement to which the payer of an amount under Section 6 is entitled or subject (whether arising under this Agreement, another contract, applicable law or otherwise) that is exercised by, or imposed on, such payer.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Offsets means those conditions imposed or considered by an entity prior to, or in the course of its procurement process, that encourage local development or improve its Party's balance of payments accounts by means of requirements of local content, licensing of technology, investment, counter-trade or similar requirements;

  • Compensation Options means the options of the Company to be issued to the Agent pursuant to Section 8.2 hereof to acquire Compensation Shares;

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Put Right has the meaning set forth in Section 8.05(a).

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Right-of-Way Permit means either the excavation permit or the obstruction permit, or both, depending on the context, required by this chapter.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.