General Right of Offset Sample Clauses

General Right of Offset. In lieu of receiving a cash payment ----------------------- from the Sellers, Global, in good faith, may elect to offset against payments under the Seller Note, the amount of any Indemnifiable Costs or any other payments to which Global may become entitled to by reason of the provisions of this Agreement. In the event that Global offsets more than the amount of any Indemnifiable Costs (as finally determined), Global shall be responsible to Sellers for such sums which should not have been subject to an offset, together with interest at the rate of 8% per annum.

General Right of Offset. Notwithstanding any provision of this Agreement, any and all amounts due from MLLIC to FLIC or from FLIC to MLLIC under this Agreement may be offset against amounts due from one party to the other under this Agreement or under any other written agreement hereafter entered into by and between the parties, in settling and making payments on a net basis of amounts due under this Agreement and any subsequent written agreements.

General Right of Offset. 10 ARTICLE VII

General Right of Offset. Notwithstanding any provision of this ----------------------- Agreement, any and all amounts due from one party to the other may be offset against amounts due from the other party under this Agreement or under any other written agreement hereafter entered into by and between the parties, in settling and making payments on a net basis of amounts due under this Agreement and any subsequent written agreements. All settlements of account between the Company and the Reinsurer shall be made in cash or its equivalent.