Other Agreement Setoffs Apply. The Non-Defaulting Party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “Net Settlement Amount”). At its sole option and without prior Notice to the Defaulting Party, the Non-Defaulting Party may setoff (i) any Net Settlement Amount owed to the Non-Defaulting Party against any margin or other collateral held by it in connection with any Credit Support Obligation relating to the Contract; or (ii) any Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Party under any other agreement or arrangement between the parties.
Appears in 3 contracts
Samples: Base Contract for Retail Sale and Purchase of Natural Gas or Electricity, Base Contract for Sale and Purchase of Natural Gas/Electricity, Base Contract for Sale and Purchase of Natural Gas (Kentucky USA Energy, Inc.)
Other Agreement Setoffs Apply. The Non-Defaulting Party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “"Net Settlement Amount”"). At its sole option and without prior Notice to the Defaulting Party, the Non-Defaulting Party may setoff (i) any Net Settlement Amount owed to the Non-Defaulting Party against any margin or other collateral held by it in connection with any Credit Support Obligation relating to the Contract; or (ii) any Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Party under any other agreement or arrangement between the parties.
Appears in 2 contracts
Samples: Standard Agreement, Base Contract for Sale and Purchase of Natural Gas (Corning Natural Gas Corp)
Other Agreement Setoffs Apply. The Nonnon-Defaulting Party defaulting party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.17.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “Net Settlement Amount”). At its sole option and without prior Notice to the Defaulting Partydefaulting party, the Nonnon-Defaulting Party may defaulting party is hereby authorized to setoff (i) any Net Settlement Amount owed to the Non-Defaulting Party against (i) any margin or other collateral held by it a party in connection with any Credit Support Obligation relating to the Contract; or and (ii) any amount(s) (including any excess cash margin or excess cash collateral) owed or held by the party that is entitled to the Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Party under any other agreement or arrangement between the parties.
Appears in 1 contract
Samples: Base Contract
Other Agreement Setoffs Apply. The Non-Defaulting Party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “"Net Settlement Amount”"). At its sole option and without prior Notice to the Defaulting Party, the Non-Defaulting Party may setoff (i) any Net Settlement Amount owed to the Non-Defaulting Party against any margin or other collateral held by it in connection with any Credit Support Obligation relating to the Contract; or (ii) any Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Party under any other agreement or arrangement between the parties.. OTHER AGREEMENT SETOFFS DO NOT APPLY:
Appears in 1 contract
Other Agreement Setoffs Apply. The Non-Defaulting Non&$45;Defaulting Party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “"Net Settlement Amount”"). At its sole option and without prior Notice to the Defaulting Party, the Non-Defaulting Non&$45;Defaulting Party may setoff (i) any Net Settlement Amount owed to the Non-Defaulting Non&$45;Defaulting Party against any margin or other collateral held by it in connection with any Credit Support Obligation relating to the Contract; or (ii) any Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Non&$45;Defaulting Party under any other agreement or arrangement between the parties.
Appears in 1 contract
Samples: Base Contract for Sale and Purchase of Natural Gas (Corning Natural Gas Corp)
Other Agreement Setoffs Apply. The Non-Defaulting Party shall net or aggregate, as appropriate, any and all amounts owing between the parties under Section 10.3.1, so that all such amounts are netted or aggregated to a single liquidated amount payable by one party to the other (the “Net Settlement Amount”). At its sole option and without prior Notice notice to the Defaulting Party, the Non-Defaulting Party may setoff (i) any Net Settlement Amount owed to the Non-Defaulting Party against any margin or other collateral held by it in connection with any Credit Support Obligation relating to the Contract; Contract or (ii) any Net Settlement Amount payable to the Defaulting Party against any amount(s) payable by the Defaulting Party to the Non-Defaulting Party under any other agreement or arrangement between the parties.
Appears in 1 contract
Samples: Base Contract for Short Term Sale and Purchase of Natural Gas