Setting Off definition
Examples of Setting Off in a sentence
After the signing of this Agreement, including its Annexes (hereinafter referred to as the "Signing"), the performance of the Assignment, and the Purchase Price Setting Off (hereinafter referred to as the "Closing") shall take place on the same date (hereinafter referred to as the "Closing Date"), time and place as the Closing of the Agreement on the Sale and Purchase of Shares (as defined and set forth in Section 6 of the Agreement on the Sale and Transfer of Shares).
The payment of the Purchase Price shall not be made by the Buyers transferring cash to the Seller, but by PPM GmbH setting off the Purchase Price against the Base Purchase Price (as defined in the Agreement on the Sale and Purchase of Shares) of EUR64,679,000.00 (in words: Euro sixty four million six hundred seventy nine thousand) to be paid by PPM GmbH to the Buyers under the Agreement on the Sale and Purchase of Shares (hereinafter referred to as the "Purchase Price Setting Off").
Each of Buyer and Buyer’s Other Indemnified Persons (each, a “Setting Off Party”) will have the right to set off and retain any amount to which such Setting Off Party may be entitled from any other Party (the “Owing Party”), including under this Agreement or any other Contract, against any amount otherwise payable by such Setting Off Party to such Owing Party.
Each Party (a “Setting Off Party”) will have the right to set off and retain any amount to which such Setting Off Party may be entitled from any other Party (the “Owing Party”), including under this Agreement or any other Contract, against any amount otherwise payable by such Setting Off Party to such Owing Party.
Each of Buyer and Buyer’s Other Indemnified Persons (each, a “Setting Off Party”) will have the right, subject to the limitations set forth herein, to set off and retain any amount to which such Setting Off Party may be entitled from any other Party (the “Owing Party”), including under this Agreement or any other Contract, against any amount otherwise payable by such Setting Off Party to such Owing Party.
Each Party (a “Setting Off Party”) will have the right to set off and retain any amount to which such Setting Off Party may be entitled from any other Party (the “Owing Party”), including under this Agreement, against any amount otherwise payable by such Setting Off Party to such Owing Party under this Agreement.