Set-Off Amount definition
Examples of Set-Off Amount in a sentence
The Company shall give to the holder of this Instrument written notice of the application of any such Indemnification Set-Off Amount within three Business Days after the date thereof.
If, however, the Final Purchase Price is greater than the Pro Forma Price, then Gold shall, at its option, (i) pay such difference (each, a “Gold True-Up Amount”) to Producer within five days of Gold’s determination thereof, or (ii) set off such Gold True-Up Amount against any Set-Off Amount then due and owing to Gold.
Subject to Section 4.4 hereof, each Net Set-Off Amount shall be treated as if it were a Settlement Amount for purposes of Section 4.1 hereof and shall, with the interest accrued thereon, be included in the set-off on the first applicable subsequent Set-Off Date.
Any accrued interest that Seller is obligated to indemnify Buyer for pursuant to the previous sentence shall be added to such Indemnification Set-Off Amount.
The Company shall give to the holder of this Security written notice of the application of any such Indemnification Set-Off Amount within three Business Days after the date thereof.