Common use of Net Out of Settlement Amount Clause in Contracts

Net Out of Settlement Amount. The Non-Defaulting Party shall aggregate the Settlement Amount into a single amount by: netting out (a) the Settlement Amount that is due to the Defaulting Party (if any), plus any or all other amounts due to the Defaulting Party under this Agreement against (b) the Settlement Amount that is due to the Non-Defaulting Party (if any), plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts shall be netted out to a single liquidated amount (the “Termination Payment”). If the Termination Payment is in favor of the Non-Defaulting Party, such Termination Payment in favor of the Non-Defaulting Party shall be due and payable by the Defaulting Party to the Non-Defaulting Party, but, if such Termination Payment is in favor of the Defaulting Party, such Termination Payment shall not be due or payable from the Non- Defaulting Party to the Defaulting Party.

Net Out of Settlement Amount. The Non-Defaulting Party shall aggregate the Settlement Amount into a single amount by: netting out (a) the Settlement Amount that is due to the Defaulting Party (if any), plus any or all other amounts due to the Defaulting Party under this Agreement against (b) the Settlement Amount that is due to the Non-Defaulting Party (if any), plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts shall be netted out to a single liquidated amount (the “Termination Payment”). If the Termination Payment is in favor of the Non-Defaulting Party, Defaulting Party shall pay such Termination Payment in favor of the Non-Defaulting Party shall be due and payable by the Defaulting Party to the Non-Defaulting Party, but, if such . No Termination Payment is in favor of the Defaulting Party, such Termination Payment shall not will ever be due or payable from the Non- Non-Defaulting Party to the Defaulting Party, even if the netting calculations described herein otherwise would result in a payment due to the Defaulting Party.