Common use of Netting and Set-Off Clause in Contracts

Netting and Set-Off. If the aggregate amount payable by the Private Investor is equal to the aggregate amount payable by the Company, then the Company may determine that the mutual obligations to make payment are set-off and cancel each other. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged. The Company has the right to combine all or any Private Investor Accounts opened in the Private Investor name and to consolidate the Balances in such accounts and to set-off such Balances in the event of termination of the Agreement.

Netting and Set-Off. If the aggregate amount payable by the Private Investor is equal to the aggregate amount payable by the Company, then the Company may determine that the mutual obligations to make payment are set-off off and cancel each other. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied satisfied and discharged. The Company has the right to combine all or any Private Investor Accounts opened in the Private Investor name and to consolidate the Balances in such accounts and to set-off off such Balances in the event of termination of the Agreement.