Setoff Amount definition

Setoff Amount has the meaning set forth in Section 10.4.5(b).

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).

• In the event that, at such time as all principal and interest becomes due and payable under the terms of the Long Term Note, Purchaser has submitted one or more Purchaser Claims with respect to which the Setoff Amount has not yet been determined or has been determined but is not yet paid, then Purchaser shall withhold from its payment to Seller of all such principal and interest an amount (the "Withheld Amount") equal to the aggregate Purchaser Claims claimed by Purchaser.

• To the extent that on the first anniversary of the Closing Date the sum of the Distribution Payable and the Credit Amount exceeds any amounts Buyer owes to Seller under Section 5.9, Buyer may at its option set off any such excess amount (the "Setoff Amount") against the Purchase Note (as hereinafter described) or require Seller to pay in cash, such excess amount.

• If the Setoff Amount is unascertainable, the nonbreaching party may, acting in a commercially reasonable manner, estimate the amount thereof and reduce its payment obligations to the breaching party as set forth herein in respect of the estimate, subject to accounting to the breaching party when the Setoff Amount is ascertained.

• Buyer shall provide notice to Seller, on the first anniversary of the Closing Date, of its election to setoff the Setoff Amount against the "Obligations" (as defined in the Loan Agreement) owed to Seller.

More Definitions of Setoff Amount

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

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 shall have the meaning set forth in Section 9.4.

Setoff Amount has the meaning set forth in Section %/. .

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 shall have the meaning given to it in Section 9.08(a).

Setoff Amount means any funds of NWB which are offset or retained by a Secured Creditor against the Obligations, including by way of setoff or recoupment.