Deduction for Indebtedness Sample Clauses

Deduction for Indebtedness. If a Shareholder is indebted to the Corporation or purchasing Shareholder(s) at the date of the Shareholder’s death or the date of Transfer, the Corporation or purchasing Shareholder(s) may (but shall not be required to) deduct from and set off against each installment of the purchase price for such Shares all or such part of such indebtedness that is due and unpaid at the time when each such installment is due for payment in accordance with this Agreement, and such indebtedness to the Corporation or the purchasing Shareholder(s) shall be reduced and satisfied to the extent of each such deduction and set-off. ARTICLE TEN Write Up to Fair Value