Setoff Amount definition

Setoff Amount has the meaning set forth in Section 10.4.4(b).

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Setoff Amount has the meaning set forth in Section 16.6.1 (Genzyme’s Right to Setoff).

Setoff Amount means any funds of a Credit Party which are setoff by a Secured Creditor against the Obligations.

Examples of Setoff Amount in a sentence

Genzyme shall use commercially reasonable efforts to mitigate its losses, damages and expenses that are subject to setoff pursuant to this Section 16.6. For clarity, in no event shall Voyager be obligated to pay any amounts to Genzyme under this Section 16.6, and Genzyme shall not be entitled to a Setoff Amount which is in excess of any amounts owed to Voyager pursuant to Section 12 (Financial Terms; Royalty Reports; Payments and Audits).
Without prejudice to the entitlement to set-off by Terumo under this Section, IceCure may notify in writing to Terumo within five (5) Business Days from the receipt of said notice from Terumo if IceCure reasonably believes that the Set-off Amount is inconsistent with this Section 7.3, and upon receipt such notice by Terumo, the Parties will mutually discuss to find whether the amount is inconsistent with this Section 7.
Each Secured Creditor agrees to promptly forward any Mandatory Repayment Amount or Setoff Amount it receives to the Collateral Agent for deposit into, and distribution from, the Collateral Account, in accordance with the terms of this Agreement.
By way of example only, if the Net Royalty Based Revenue for a Fiscal Year equals $2,000,000,000 and Transferee actually received a Royalty of $30,000,000 with respect thereto, and the Net Royalty-Based Revenue for such Fiscal Year was subsequently reduced in accordance with GAAP to $1,000,000,000, the Royalty with respect to such Fiscal Year after taking into account such reduction would be $10,000,000 and the Setoff Amount equals $20,000,000 (Royalty received minus Royalty as-adjusted).
Subject to Section 5 hereof, the remaining $1,500,000 portion of the Cash Consideration (the "Set-off Amount"), if any, shall be paid in twelve equal monthly installments commencing seven months after Closing.

More Definitions of Setoff Amount

Setoff Amount has the meaning set forth in Section 12.6(e).

Setoff Amount has the meaning set forth in Section 2.3.2 below.

Setoff Amount shall have the meaning set forth in Section 9.4.

Setoff Amount means the aggregate amount of all claims Finally Determined to be payable to Parent Indemnified Parties under Article VIII, which in no event shall exceed [***] Dollars ($[***]), subject to the provisions of Section 8.6 of this Agreement.

Setoff Amount means $1,155,630.10 in respect of (a) all amounts owing by the Company or any of its Affiliates in respect of the Farnesene Obligations on the Third Note Purchase Date, (b) any interest due and payable in respect of the Existing DSM Note as of the Third Note Purchase Date and (c) the Legal Fees Obligation, in each case before giving effect to the sale and purchase of the Third Note.

Setoff Amount means, notwithstanding the waiver of any right of setoff or other similar claim which an account debtor may have agreed to with respect to any Eligible Receivable (the “Setoff Waiver”), as of the relevant date of determination, the amount of such Eligible Receivable which would be subject to a right of setoff or similar claim to the extent such Setoff Waiver is not enforced or did not exist.

Setoff Amount is defined in Section 8.6(a).