Offset Rights. Subject to Section 562, each party hereto shall have, and may exercise at any time and from time to time, the right to offset any balance or balances, whether on account of premiums or on account of losses or otherwise, due from such party to the other party hereto under this Agreement and may offset the same against any balance or balances due to the former from the latter under this Agreement; and the party asserting the right of offset shall have and may exercise such right whether the balance or balances due to such party from the other are on account of premiums or on account of losses or otherwise, which shall be deemed mutual debts or credits, as the case may be.
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Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co)
Offset Rights. Subject to Section 5625.2, each party hereto shall have, and may exercise at any time and from time to time, the right to offset any balance or balances, whether on account of premiums or on account of losses or otherwise, due from such party to the other party hereto under this Agreement and may offset the same against any balance or balances due to the former from the latter under this Agreement; and the party asserting the right of offset shall have and may exercise such right whether the balance or balances due to such party from the other are on account of premiums or on account of losses or otherwise, which shall be deemed mutual debts or credits, as the case may be.
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