Setoff Rights definition

Setoff Rights means setoff rights under any Covered Facility or applicable law.
View Source
Setoff Rights has the meaning set forth in Section 11.7.
View Source
Setoff Rights has the meaning specified in Section 2.7(b).
View Source

Examples of Setoff Rights in a sentence

  • The Pledged Collateral and the Administrative Agent’s rights with respect to the Pledged Collateral are not subject to any set-off, claims, withholdings or other defenses other than the Custodial Lien and Set-off Rights.

  • This text has been separately filed with the Securities and Exchange Commission Specified GM Obligations and (ii) from and after the Setoff Rights Reduction Date, GMAC and each other GMAC Entity (acting on its own or through GMAC on behalf of itself and each other GMAC Entity) is entitled to setoff from time to time any or all Known Specified GMAC Obligations against any or all Known Specified GM Obligations.

  • Notwithstanding the foregoing, the Loan Parties may at any time exercise any Special Setoff Rights to cause the Centrex Earnout Payments to be reduced pursuant to the terms of the Centrex Purchase Agreement.

  • The foregoing Setoff Rights shall expire on the Business Day immediately following the Maturity Date in accordance with the terms of the Purchase Agreement.

  • The Payee may exercise the Setoff Rights upon the occurrence and during the continuance of any Event of Default.

  • Subject to the paragraph below entitled Liens and Set-off Rights, we shall be entitled to grant to sub-custodians, and sub- custodians may have, liens and/or other security interests over the Custody Assets.

  • The Setoff Rights are in addition to any liens, setoff rights or other rights and remedies that the Payee may have by law or pursuant to any other agreement, and are in addition to the Payee’s rights and remedies with respect to any collateral or other property in which the Payee may have a security interest or other lien.

  • The Payee may exercise the Setoff Rights without demand or notice to a Loan Party.

  • The Company will, immediately upon becoming aware thereof, notify the Issuer, in writing, of any set-off, claims, withholdings or other defenses to which any of the Pledged Collateral, or the Issuer’s rights with respect to the Pledged Collateral, are subject other than with respect to the Custodial Lien and Set-off Rights, provided, that the Company will notify the Issuer hereunder of any set-off exercised by the Custodian pursuant to the Custodial Lien and Set-off Rights.

  • In furtherance of the foregoing, Purchaser agrees to apply any Setoff Rights then owed and payable against amounts owed or payable by any Indemnitor prior to seeking cash payment directly from such Indemnitor.

Related to Setoff Rights

  • 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.

  • 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;

  • Rights means, with respect to any Person, warrants, options, rights, convertible securities and other arrangements or commitments which obligate the Person to issue or dispose of any of its capital stock or other ownership interests.

  • Access Rights means licences and user rights to foreground or background;

  • Use Rights means the license terms and terms of service for each Product published on the Licensing Site and updated from time to time. The Use Rights supersede the terms of any end user license agreement that accompanies a Product. License terms for all Products are published in the Product Terms. Terms of service for Online Services are published in the Online Services Terms.