Right of Compensation. Should the Operator be indebted to P&WC or any of its affiliates or subsidiaries (collectively the “P&WC Group”) upon the occurrence or by reason of a default under this Agreement or any other agreement as a result of application of the cross-default provision contemplated at article 15.3 hereof (the “Operator’s Debt”) and that the Operator does not, for any reason whatsoever, pay the Operator’s Debt at the earliest of (i) the prescribed delay(s) to effect such payment or (ii) thirty (30) days from the date of such default, P&WC shall have the right to apply any sums that the P&WC Group may have received from the Operator, whether under the terms of this Agreement or any other agreement(s) executed with the Operator, as a reduction to the Operator’s Debt, without further notice or delay to the Operator.
Right of Compensation. In addition to any rights now or hereafter granted under the Loan Documents or Applicable Law and not by way of limitation of any such rights, if an Event of Default shall have occurred and be continuing, the Bank and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Applicable Law, to compensate and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held, and other obligations (in whatever currency) at any time owing, by the Bank or any such Affiliate, to or for the credit or the account of the Borrower or any other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to the Bank or its Affiliates, irrespective of whether or not the Bank or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are owed to a branch, office or Affiliate of the Bank different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness. The rights of the Bank and its Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that the Bank or its Affiliates may have. The Bank agrees to notify the Borrower promptly after any such compensation and application; provided that the failure to give such notice shall not affect the validity of such compensation and application.
Right of Compensation. Each Guarantor shall have the right to offset (operate compensation in respect of) any amounts payable to the Guaranteed Party or the Beneficiaries of the Guaranteed Party pursuant to the terms of this Guarantee for liabilities or obligations owing by the Guaranteed Party to such Guarantor or any of its Affiliates.
Right of Compensation. Purchaser has the right, in addition to the other remedies provided in this Article 9, to extinguish by compensation its debt to pay to Sellers such amount of the Purchase Price pursuant to Section 2.2, any adjustment thereof pursuant to Section 3.3 and any Milestone Payment payable pursuant to Section 3.4 against an equivalent amount of any Damages due to Purchaser Indemnified Parties under this Agreement by Sellers. If the payment of Damages is disputed by Sellers, Purchaser will be entitled to withhold an equivalent amount to that so disputed until such dispute is finally settled, either by mutual agreement between the Parties or by a court of competent jurisdiction in accordance with Section 11.16.
Right of Compensation. In case of any action by any Governmental Authority not resulting in an actual transfer of interest in the Leased Premises but creating a right to compensation with respect to the Leased Premises, this Lease shall continue in full force and effect without reduction or abatement of Rent, and the award shall be equitably apportioned between Seven States and TVA.
