Right to Offset definition

Right to Offset. Without limiting Seller’s other rights and remedies, Seller has the right to set off and/or net its obligations under the Agreement against any debts, claims or obligations owed by Buyer to Seller.

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Right to Offset or “Right of Set-Off”: If you ever owe us money and it is due, we may, to the extent we have a right under the law or under an agreement with you, use the money from any of your accounts with us, including joint accounts, to pay the debt, even if withdrawing the money results in an interest penalty to you. If any joint account holder owes us money and it is due, we may use the money from the joint account to pay the debt. The use of your funds to pay a debt you or a joint account owner owes to us is referred to as our “right to offset” or “right of set-off.” Any garnishment or levy against your account is subject to our right to offset within applicable laws. Rules, Regulations, and Other Agreements: The U.S. Treasury requires financial institutions to verify their customers’ identities and obtain certifications of valid taxpayer identification or employer identification numbers. If we do not receive such a certification within 60 calendar days of account opening, we will close the account and mail the proceeds to the account holder.

Right to Offset. We may withhold from payment owed to you any amount due to us from you under the indemnification provision, any other provision of this Agreement, or due to a breach of this Agreement in the performance of this agreement or as to any breach of a duty to indemnify.

Examples of Right to Offset in a sentence

• LSM may, in its sole discretion, and without prior notice or demand to Broker, take an offset against any monies due for any reason from LSM to Broker for any reimbursement amount due from broker to LSM as a result of any application of the EPO/EPD Policy, and any such offset taken by LSM shall not under any circumstances constitute or be deemed to be an accord and satisfaction Non-waiver of Remedies, Right to Offset.

• Right to Offset: TNG wholesale distribution centers are entitled to offset credits due us for returned amounts against amounts otherwise due to the Suppliers.

• The foregoing right to credit payments to such Third Party pursuant to this Section 7.5.2 (Right to Offset Thirty Party Payments) shall only apply with respect to [***].

• Ryder will pay Compensation (subject to Section 9.4, Right to Offset, if applicable) to LPs and charge the BMCs through the issuance of invoices that will show the debits and/or credits for participation in the TSP for a completed transaction, specifying the use and any additional compensation or costs (for example, fines and penalties) for a particular vehicle.

• The costs of any Third Party expert engaged under this Section 7.9.5 (Right to Offset) will be paid by the Party against whose position the Third Party lawyer’s determination is made.

• Any such offsets made pursuant to this Section 1.9(e) (Right to Offset) shall be reported in the Net Sales Report.

• Right to Offset Indemnity Obligations Against Outstanding Securities.

• For this purpose, the Company will use its commercial best efforts to obtain all necessary consents and approvals for such rights offering (including the Right to Off-set, if necessary).

• Ryder will electronically remit all payments (subject to Section 9.4, Right to Offset, if applicable) to LPs and debit all amounts due from BMCs using the financial information and payment method specified during TSP registration.

• Neither Party will be entitled to recover any Losses relating to any matter arising under one provision of this Agreement to the extent that such Party has already recovered such Losses pursuant to other provisions of this Agreement, including recoveries under Section 10.1 (Indemnification by Novartis) or Section 10.2 (Indemnification by Ionis), and the offsets under Sections 7.9.4 (Right to Offset).