Against Credit Support Sample Clauses

Against Credit Support. Where closeout and liquidation occur in accordance with Section 6.1, the Nondefaulting Party shall also be entitled (a) to set off the net payment calculated in accordance with Section 6.1(d), which the Nondefaulting Party owes to the Defaulting Party, if any, against any credit support or other collateral (“Credit Support”) held by the Defaulting Party pursuant to a Credit Support Document or otherwise (including the liquidated value of any noncash Credit Support), in respect of the Nondefaulting Party’s obligations under the Agreement; or (b) to set off the net payment calculated in accordance with Section 6.1(d), which the Defaulting Party owes to the Nondefaulting Party, if any, against any Credit Support held by the Nondefaulting Party (including the liquidated value of any noncash Credit Support), in respect of the Defaulting Party’s obligations under the Agreement; pro- vided that, for purposes of either such setoff, any Credit Support denominated in a Currency other than the Nondefaulting Party’s Termination Currency shall be converted into such Termination Currency at the rate specified in Section 6.1(c)(ii).
Sample 1
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Related to Against Credit Support

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Credit Support Provider Credit Support Provider means in relation to Party A, not applicable. Credit Support Provider means in relation to Party B, not applicable.

  • Insurance against liability Nothing in this Agreement requires an employer to insure against liability for accident pay.

  • Child Support Obligation Under Section 231.006(d) of the Texas Family Code regarding child support, Contractor certifies that the individual or business entity named in this Contract and any related Solicitation Response is not ineligible to receive the specified payment and acknowledges that the Contract may be terminated and payment may be withheld if this certification is inaccurate.

  • PROHIBITION AGAINST INDUCEMENT OR PERSUASION Notwithstanding the above, the Contractor and the County agree that, during the term of this Master Agreement and for a period of one year thereafter, neither party shall in any way intentionally induce or persuade any employee of one party to become an employee or agent of the other party. No bar exists against any hiring action initiated through a public announcement.

  • No Presumption Against Drafter Each of the parties hereto has jointly participated in the negotiation and drafting of this Agreement. In the event an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by each of the parties hereto and no presumptions or burdens of proof shall arise favoring any party by virtue of the authorship of any provisions of this Agreement.

  • WARRANTY AGAINST CONTINGENT FEES 8.50.1 The Contractor warrants that no person or selling agency has been employed or retained to solicit or secure this Contract upon any Contract or understanding for a commission, percentage, brokerage, or contingent fee, excepting bona fide employees or bona fide established commercial or selling agencies maintained by the Contractor for the purpose of securing business.

  • of the Credit Agreement Section 6.02 of the Credit Agreement is hereby amended as follows:

  • PLEDGE AGAINST DISCRIMINATION AND COERCION A. The provisions of this Agreement shall be applied equally to all full time employees in the bargaining unit without discrimination as to age, sex, marital status, race, color, creed, national origin, member- ship or non-membership in the Union or political affiliation. The Union shall share equally with the Employer the responsibility for applying this provision of this Agreement.

  • Protection Against Loss of Future District Revenues Section 4.1. INTENT OF THE PARTIES. Subject only to the limitations contained in this Agreement (including Section 7.1 of this Agreement), it is the intent of the Parties that the District shall, in accordance with the provisions of Section 313.027(f)(l) of the TEXAS TAX CODE, be compensated by Applicant for any loss that District incurs in its Maintenance and Operations Revenue in each year of this Agreement for which this Agreement was, in any manner, a producing cause, resulting, at least in part because of or on account of, the execution of this Agreement. Such payments shall be independent of, and in addition to such other payments as set forth in Article V and Article VI in this Agreement. Subject only to the limitations contained in this Agreement (including Section 7.1 of this Agreement), it is the intent of the Parties that the risk of any and all negative financial consequences to the District’s total annual Maintenance and Operations Revenue, to which the execution of this Agreement contributed in any manner, will be borne solely by Applicant and not by the District. The Parties hereto expressly understand and agree that, for all Tax Years to which this Agreement may apply, the calculation of negative financial consequences will be defined for each applicable Tax Year in accordance with the Applicable School Finance Law, as defined in Section 1.2 above, and that such definition specifically contemplates that calculations made under this Agreement may well periodically change in accordance with changes made from time to time in the Applicable School Finance Law. The Parties further agree that the printouts and projections produced during the negotiations and approval of this Agreement are: (i) for illustrative purposes only, are not intended to be relied upon, and have not been relied upon by the Parties as a prediction of future consequences to either Party to the Agreement; (ii) are based upon current School Finance Law, which is subject to change by statute, by administrative regulation, or by judicial decision at any time; and (iii) may change in future years to reflect changes in the Applicable School Finance Law.

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