INDEBTEDNESS AND RIGHT OF SET OFF Sample Clauses

INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or General Agent the right to incur any indebtedness on behalf of Pacific Mutual or PEN. Selling Broker-Dealer and General Agent hereby authorize PEN and Pacific Mutual to set off liabilities of Selling Broker-Dealer and General Agent to Pacific Mutual and PEN against any and all amounts otherwise payable to Selling Broker-Dealer or General Agent.
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or General Agent the right to issue any indebtedness on behalf of CLNY, CLAFS or Selixxxx Xxxancial. Selling Broker-Dealer and General Agent hereby authorize CLNY as agent of CLAFS to set off liabilities of Selling Broker-Dealer and General Agent to CLNY, CLAFS or Selixxxx Xxxancial against any and all amounts otherwise payable to Selling Broker-Dealer or General Agent.
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or Producer the right to incur any indebtedness on behalf of the Company or Clarendon. Selling Broker-Dealer and Producer hereby authorize Clarendon and the Company to set off liabilities of Selling Broker-Dealer and Producer to the Company and Clarendon against any and all amounts otherwise payable to Selling Broker-Dealer or Producer.
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or General Agent the right to incur any indebtedness on behalf of MSS or MLNY. Selling Broker-Dealer and General Agent hereby authorize MSS to set off liabilities of Selling Broker-Dealer and General Agent to MSS or MLNY against any and all amounts otherwise payable to Selling Broker-Dealer or General Agent.
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or Producer the right to incur any indebtedness on behalf of the Company or Sun Investment. Selling Broker-Dealer and Producer hereby authorize Sun Investment and the Company to set off liabilities of Selling Broker-Dealer and Producer to the Company and Sun Investment against any and all amounts otherwise payable to Selling Broker-Dealer or Producer.
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving Selling Broker-Dealer or General Agent the right to issue any indebtedness on behalf of CLICA or CLAFS. Selling Broker Dealer and General Agent hereby authorize CLICA as agent of CLAFS to set off liabilities of Selling Broker-Dealer and General Agent to CLICA or CLAFS against any and all amounts otherwise payable to Selling Broker-Dealer as General Agent.
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INDEBTEDNESS AND RIGHT OF SET OFF i. If Broker becomes indebted to Company, AGA or any of the Insurers through Company, in connection with any policy or plan submitted by Broker through Company and AGA for which Broker received compensation hereunder or under Broker’s contract with an Insurer, Broker hereby agrees to repay such Indebtedness on demand (the “Debt”).
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INDEBTEDNESS AND RIGHT OF SET OFF. Nothing contained in this Agreement shall be construed as giving the Selling Broker-Dealer or General Agent the right to incur any indebtedness on behalf of Manulife Financial Securities or Manulife New York. Selling Broker-Dealer and General Agent hereby authorize Manulife Financial Securities to set off liabilities of Selling Broker-Dealer and General Agent to Manulife Financial Securities and Manulife New York against any and all amounts otherwise payable to Selling Broker-Dealer or General Agent.
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Related to INDEBTEDNESS AND RIGHT OF SET OFF

  • Security Interest and Right of Set-Off As security for the performance of the respective obligations to which any Partner may be subject under this Agreement, the Partnership shall have (and each Partner hereby grants to the Partnership) a security interest in all funds distributable to said Partner to the extent of the amount of such obligation.

  • Right of Set-off Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have.

  • Indebtedness and Liens (a) Except for trade debt incurred in the normal course of business and indebtedness to Lender contemplated by this Agreement, create, incur or assume indebtedness for borrowed money, including capital leases, (b) except as allowed as a Permitted Lien, sell, transfer, mortgage, assign, pledge, lease, grant a security interest in, or encumber any of Borrower's assets, or (c) sell with recourse any of Borrower's accounts, except to Lender.

  • No Right of Set-Off The Trustee waives any right of set-off or any right, title, interest or claim of any kind that the Trustee may have against the Property held in the Trust Account. In the event the Trustee has a claim against the Company under this Agreement, including, without limitation, under Section 3(b), the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

  • Indebtedness Payments (i) Prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled repayment thereof any Indebtedness for borrowed money (other than amounts due under this Agreement or due any Lender) or lease obligations, (ii) amend, modify or otherwise change the terms of any Indebtedness for borrowed money or lease obligations so as to accelerate the scheduled repayment thereof or (iii) repay any notes to officers, directors or shareholders.

  • Other Indebtedness and Agreements (a) Permit any waiver, supplement, modification, amendment, termination or release of any indenture, instrument or agreement pursuant to which any Material Indebtedness of a Borrower or any of the Subsidiaries is outstanding if the effect of such waiver, supplement, modification, amendment, termination or release would increase the interest rate thereon, shorten the final maturity or the average life thereof or cause an Event of Default.

  • Rights of Set-Off With respect to any amount that HHSC in good faith determines should be reimbursed to it or is otherwise payable to it by the MA Dual SNP pursuant to this Agreement, HHSC may deduct the entire amount owed against the charges otherwise payable or expenses owed to it under this Agreement until such time as the entire amount determined to be owed has been paid. HHSC will provide the MA Dual SNP with written notice of and supporting information concerning such offsets, and will be relieved of its obligation to make any payments to the MA Dual SNP until such time as all such amounts have been paid to HHSC.

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