Common use of Offset Privilege Clause in Contracts

Offset Privilege. The Fund may offset against any monetary obligation owing from the Fund to any Members or Manager any monetary obligation then owing from that Member or Manager to the Fund; provided, however, that the offset right will only apply to any monetary obligation owed to that Member or Manager in their capacity as a Member or Manager.

Offset Privilege. The Fund may offset against any monetary obligation owing from the Fund to any Members Member or Manager the Administrator any monetary obligation then owing from that Member or Manager Administrator to the Fund; provided, however, that the offset right will only apply to any monetary obligation owed to that Member or Manager Administrator in their capacity as a Member or ManagerAdministrator.