PAYMENTS AND SET-OFF. 8.1 All sums payable by the Guarantor under this Deed of Guarantee shall be paid without any set-off, lien or counterclaim, deduction or withholding, howsoever arising, except for those required by law, and if any deduction or withholding must be made by law, the Guarantor will pay that additional amount which is necessary to ensure that the Beneficiary receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding.
PAYMENTS AND SET-OFF. All sums payable by the Guarantor under this Deed of Guarantee shall be paid without any set-off, lien or counterclaim, deduction or withholding, howsoever arising, except for those required by law, and if any deduction or withholding must be made by law, the Guarantor will pay that additional amount which is necessary to ensure that the Beneficiary receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor shall pay interest on any amount due under this Deed of Guarantee from the day after the date on which payment was due up to and including the date of payment in full (as well after as before any judgment) calculated from day to day at a rate per annum equal to the latest inter-bank lending rate (LIBOR) plus two percent (2%) above the base rate of the Bank of England from time to time in force. The Guarantor will reimburse the Beneficiary for all legal and other costs (including VAT) incurred by the Beneficiary in connection with the enforcement of this Deed of Guarantee.
PAYMENTS AND SET-OFF. All sums payable by the Guarantor under this Deed of Guarantee will be paid without any set-off, lien or counterclaim, deduction or withholding, except for those required by Law. If any deduction or withholding must be made by Law, the Guarantor will pay that additional amount to ensure that the Buyer receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor will pay interest on any amount due under this Deed of Guarantee at the applicable rate under the Late Payment of Commercial Debts (Interest) Act 1998, accruing on a daily basis from the due date up to the date of actual payment, whether before or after judgment. The Guarantor will reimburse the Buyer for all legal and other costs (including VAT) incurred by the Buyer in connection with the enforcement of this Deed of Guarantee.
PAYMENTS AND SET-OFF. All sums payable by the Guarantor under this Deed of Guarantee shall be paid without any set-off, lien or counterclaim, deduction or withholding, howsoever arising, except for those required by law, and if any deduction or withholding must be made by law, the Guarantor will pay that additional amount which is necessary to ensure that the Beneficiary receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor shall pay interest on any amount due under this Deed of Guarantee at the applicable rate under the Late Payment of Commercial Debts (Interest) Act 1998, accruing on a daily basis from the due date up to the date of actual payment, whether before or after judgment. The Guarantor will reimburse the Beneficiary for all legal and other costs (including VAT) incurred by the Beneficiary in connection with the enforcement of this Deed of Guarantee.
PAYMENTS AND SET-OFF. The Customer will comply with the Bank's requirements in respect of payments under this Agreement. These requirements may include the maintenance of payment instructions acceptable to the Bank. A payment due on a non-business day will be payable on the next business day. All payments to the Bank must be made without set-off and without any deduction on account of any tax, duty or other charge, unless a deduction is required by law. If a deduction is required by law, the Customer will increase the payment so that the Bank receives the amount due to it before the deduction. The Bank may apply all amounts due to an account of the Customer with the Bank even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice both before and after demand. To exercise its rights under this Agreement, the Bank may, using its market rate of exchange convert an amount from one currency to another. Confirmations The Customer confirms on the date it signs this Agreement that: it has power to carry on its current business. this Agreement does not breach its constitution and it has taken all necessary action to authorise this Agreement. its most recent financial statements provided to the Bank were prepared in accordance with generally accepted accounting principles (GAAP), fairly represent its financial condition at the date they were prepared and there has been no material adverse change in its business or financial condition since that date. there is no actual or threatened litigation, dispute resolution, administrative proceeding or enforcement process, or any breach of an agreement, affecting it or any Subsidiary, which could have a material adverse effect on its business or financial condition or on its ability to perform this Agreement. A Subsidiary is an entity controlled, directly or indirectly, by the Customer or by a Subsidiary of the Customer. Control means the ability to appoint or remove directors or exercise the majority of voting rights alone or with the agreement of others.
PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [17and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [18and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [19and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [20Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 21[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 22[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.
PAYMENTS AND SET-OFF. All sums payable by the Guarantor under this Deed of Guarantee shall be paid without any set-off, lien or counterclaim, deduction or withholding, howsoever arising, except for those required by law, and if any deduction or withholding must be made by law, the Guarantor will pay that additional amount which is necessary to ensure that the Beneficiary receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor shall pay interest on any amount due under this Deed of Guarantee from the day after the date on which payment was due up to and including the date of payment in full (as well after as before any judgment) calculated from day to day at a rate per annum equal to the latest inter-bank lending rate (LIBOR) plus two (2%) percent from time to time in force. The Guarantor will reimburse the Beneficiary for all legal and other costs (including VAT) incurred by the Beneficiary in connection with the enforcement of this Deed of Guarantee.
PAYMENTS AND SET-OFF. 19.1 Upon completing a Transaction, and subject to any applicable adjustments for Overnight Funding as set forth in this Agreement:
PAYMENTS AND SET-OFF. (a) In respect of any and all Performance Sums for which Network Rail and Nexus are liable in any Period, the aggregate liabilities of Network Rail and Nexus shall be set off against each other. The balance shall be payable by Network Rail or Nexus, as the case may be, within 35 days after the end of the Period to which the payment relates provided that if such payment is payable by Nexus:
PAYMENTS AND SET-OFF. 14.1 Currency of account
