Setoff Rights definition

Setoff Rights has the meaning specified in Section 2.7(b).
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Setoff Rights means setoff rights under any Covered Facility or applicable law.
Sample 1

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.

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

  • 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.

  • However, if the conditions for the operation of the depositor priority provisions are satisfied, it could interfere with the Contractual Set-off Rights if other insolvency proceedings have commenced, or if no insolvency proceedings have commenced against the ADI.

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

  • Here, the Court will award the Trustee actual damages in the form of attorney’s fees as a sanction to prevent the estate from shouldering the cost of marshaling this asset.D. Damages Award Amount; Setoff Rights The Trustee presented evidence of actual damages in the form of legal fee invoices of her counsel, Murtha Cullina LLP.

  • 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.

  • 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.

  • The Secured Accommodation Parties’ Prepetition Setoff Rights give those parties the right to withhold payments from the Debtors at the outset of the cases.

  • In the event a dispute between the Contractor and the Customer cannot be resolved, the processes described in the eVAQ Sections 68, Set-off Rights, and 54, Disputes shall prevail.

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;

  • Licensed IP Rights means, collectively, the Licensed Patent Rights and the Licensed Know-How Rights.

  • 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.

  • Creditors’ Rights has the meaning set forth in Section 3.2(b).

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean, except as otherwise provided in the final sentence of this definition:

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • Right of Co-Sale means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice.

  • Call Rights As defined in Section 9.01(f).

  • Right of Others means, as to any Property in which a Person has an interest, any legal or equitable right, title or other interest (other than a Lien) held by any other Person in that Property, and any option or right held by any other Person to acquire any such right, title or other interest in that Property, including any option or right to acquire a Lien; provided, however, that (a) no covenant restricting the use or disposition of Property of such Person contained in any Contractual Obligation of such Person and (b) no provision contained in a contract creating a right of payment or performance in favor of a Person that conditions, limits, restricts, diminishes, transfers or terminates such right shall be deemed to constitute a Right of Others.

  • Direct Rights means the rights referred to in Clause 2.1 (Direct Rights - Creation);

  • Company IP Rights means (a) any and all Intellectual Property used in the conduct of the business of the Company or any of its Subsidiaries as currently conducted, and (b) any and all other Intellectual Property owned by the Company or any of its Subsidiaries.

  • Default Right 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.

  • Preemptive Rights has the meaning set forth in Section 14.1.

  • Right of First Refusal Agreement means the Second Amended and Restated Right of First Refusal and Co-Sale Agreement of even date herewith by and among the Company, the Investors and certain other parties named therein.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • Dissent Rights means the rights of dissent in respect of the Arrangement described in the Plan of Arrangement;

  • Right of First Refusal and Co-Sale Agreement means the agreement among the Company, the Purchasers, and certain other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit G attached to this Agreement.

  • Contract Rights means all rights of any Assignor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and (iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts.

  • Step-In Rights means the right of one party to assume an intervening position to satisfy all terms of an agreement in the event the other party fails to perform its obligations under the agreement.

  • Summary of Rights shall have the meaning set forth in Section 3(b) hereof.

  • Warranty Rights means the Warranty Rights as described in Schedule I to the Participation Agreement.