Method and Manner of Paying Claims; Set-Off Sample Clauses

Method and Manner of Paying Claims; Set-Off. Subject to the Indemnifying Party's right pursuant to Section 11.5 to defend, negotiate, compromise and settle a Third Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand. The unpaid balance of a Claim shall bear interest at The First National Bank of Boston's "Base Rate" as in effect from time to time plus 2% from the date notice thereof is given by the Indemnified Party to the Indemnifying Party; provided that the Indemnifying Party shall only be obligated to pay interest on that portion of such Claim ultimately determined to be owed to the Indemnified Party. Any amounts owed by the Seller to the Buyer or one of its Affiliates (whether under this Agreement or otherwise) may be set off in satisfaction of amounts owed by the Buyer or one of its Affiliates to the Seller (whether under this Agreement or otherwise) and vice versa.
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Method and Manner of Paying Claims; Set-Off. Subject to the Indemnifying Party's right pursuant to Section 7.4 to defend, negotiate, compromise and settle a Third-Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand. Any amounts owed by the Indemnifying Party to the Indemnified Party (whether under this Agreement or otherwise) may be set off in satisfaction of amounts owed by the Indemnified Party to the Indemnifying Party or one of its Affiliates (whether under this Agreement or otherwise) and vice versa.
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Method and Manner of Paying Claims; Set-Off. Subject to the ------------------------------------------- Indemnifying Party's right pursuant to Section 12.5 to defend, negotiate, compromise and settle a Third Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand. The unpaid balance of a Claim shall bear interest at the Seller's base rate plus 2% from the date notice thereof is given by the Indemnified Party to the Indemnifying Party; provided that the Indemnifying Party shall only be obligated to pay interest on that portion of such Claim ultimately determined to be owed to the Indemnified Party. Any amounts owed by the Seller or to the Buyer or one of its Affiliates (whether under this Agreement or otherwise) may be set off in satisfaction of amounts owed by the Buyer or one of its Affiliates to the Seller (whether under this Agreement or otherwise) and vice versa.
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Method and Manner of Paying Claims; Set-Off. Subject to the Indemnifying Party’s right pursuant to Section 10.3 to defend, negotiate, compromise and settle a Third Party Claim, the amount of any claim shall be paid by the Indemnifying Party forthwith on demand, provided that so long as neither of the Conversion Right or the Put Right has been exercised by Seller and Seller still holds the Buyer Shares, any claims by Buyer shall first be paid by the forfeiture of the Buyer Shares such that one (1) Buyer Share shall be forfeited and returned to Buyer for each One Thousand and 00/100 Dollars ($1,000) of the amount of any claim. For purposes of determining the number of Buyer Shares to be forfeited pursuant to this Section 10.4, the amount of any claim for indemnification by Buyer shall be rounded to the nearest thousand. The unpaid balance of a claim shall bear interest at ten percent (10%) per annum from the date it is determined conclusively and finally that the Indemnifying Party is liable for any claim for indemnification hereunder.
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Method and Manner of Paying Claims; Set-Off. Subject to the Indemnifying Party's right pursuant to Section 10.6 to defend, negotiate, compromise and settle a Third Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand. Any amounts owed or amounts in dispute by the Seller or Westinghouse to the Buyer or the Buyer Sub or one of their Affiliates (whether under this Agreement or otherwise) may be set off in satisfaction of amounts owed or amounts in dispute by the Buyer and the Buyer Sub or one of their Affiliates to the Seller or Westinghouse or one of their Affiliates (whether under this Agreement or otherwise) and vice versa.
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Related to Method and Manner of Paying Claims; Set-Off

  • Presentment of Claims and Collection of Proceeds The Master Servicer shall (to the extent provided in the applicable Servicing Agreement) cause the related Servicer to, prepare and present on behalf of the Trustee and the Certificateholders all claims under the Insurance Policies and take such actions (including the negotiation, settlement, compromise or enforcement of the insured's claim) as shall be necessary to realize recovery under such policies. Any proceeds disbursed to the Master Servicer (or disbursed to a Servicer and remitted to the Master Servicer) in respect of such policies, bonds or contracts shall be promptly deposited in the Master Servicer Collection Account upon receipt, except that any amounts realized that are to be applied to the repair or restoration of the related Mortgaged Property as a condition precedent to the presentation of claims on the related Mortgage Loan to the insurer under any applicable Insurance Policy need not be so deposited (or remitted).

  • Preferential Collection of Claims Against the Issuers The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

  • Preferential Collection of Claims Against the Issuer The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

  • Preferential Collection of Claims Against Issuing Entity The Indenture Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

  • Set Off and Sharing of Payments In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, during the continuance of any Event of Default, each Lender is hereby authorized by Borrower at any time or from time to time, with reasonably prompt subsequent notice to Borrower (any prior or contemporaneous notice being hereby expressly waived) to set off and to appropriate and to apply any and all (A) balances held by such Lender at any of its offices for the account of Borrower or any of its Subsidiaries (regardless of whether such balances are then due to Borrower or its Subsidiaries), and (B) other property at any time held or owing by such Lender to or for the credit or for the account of Borrower or any of its Subsidiaries, against and on account of any of the Obligations; except that no Lender shall exercise any such right without the prior written consent of Agent. Any Lender exercising a right to set off shall purchase for cash (and the other Lenders shall sell) interests in each of such other Lender's Pro Rata Share of the Obligations as would be necessary to cause all Lenders to share the amount so set off with each other Lender in accordance with their respective Pro Rata Shares. Borrower agrees, to the fullest extent permitted by law, that any Lender may exercise its right to set off with respect to amounts in excess of its Pro Rata Share of the Obligations and upon doing so shall deliver such amount so set off to the Agent for the benefit of all Lenders in accordance with their Pro Rata Shares.

  • Preferential Collection of Claims Against If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor).

  • Preferential Collection of Claims Against Issuers The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

  • Preferential Collection of Claims Against Depositor or Trust If and when the Property Trustee shall be or become a creditor of the Depositor or the Trust (or any other obligor upon the Junior Subordinated Notes or the Trust Securities), the Property Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor). For purposes of Section 311(b)(4) and (6) of the Trust Indenture Act:

  • Preferential Collection of Claims Against the Company The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.

  • Preferential Collection of Claims Against Issuer The Indenture Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated.

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