Common use of Set-off Against Termination Payments Clause in Contracts

Set-off Against Termination Payments. The Province may set off against any Termination Payment the amounts of any Payment Adjustments (excluding Traffic Volume Adjustments) triggered prior to the termination and not set off against a Payment; provided that where Section 18.9 applies the Province shall be entitled to claim a set-off only to the extent that the net Termination Payment is not reduced below the amount of the Redemption Payment.

Appears in 5 contracts

Samples: Design, Build, Finance and Operate Agreement, Dbfo Agreement, Design, Build, Finance and Operate Agreement

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Set-off Against Termination Payments. The Province may set off against any Termination Payment the amounts of any Payment Adjustments (excluding Traffic Volume Adjustments) set off under Section 9.8 triggered prior to the termination and not set off against a Payment; provided that where Section 18.9 applies the Province shall be entitled to claim Progress Payment or a set-off only to the extent that the net Termination Payment is not reduced below the amount of the Redemption Payment.

Appears in 1 contract

Samples: Design, Build, Finance and Operate Agreement

Set-off Against Termination Payments. The Province may set off against any Termination Payment the amounts of any Payment Adjustments (excluding Traffic Volume Adjustments) triggered prior to the termination and not set off against a Payment; provided that where Section 18.9 applies the Province shall be entitled to claim a set-off only to the extent that the net Termination Payment is not reduced below the amount of the Redemption Payment.

Appears in 1 contract

Samples: Design, Build, Finance and Maintain Agreement

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Set-off Against Termination Payments. The Province may set off against any Termination Payment the amounts of any Payment Adjustments set off under Section 8.12 (excluding Traffic Volume AdjustmentsSet-Off) triggered prior to the termination and not set off against a Payment; provided that where Section 18.9 applies the Province shall be entitled to claim a set-off only to the extent that the net Termination Payment is not reduced below the amount of the Redemption Payment.

Appears in 1 contract

Samples: Agreement to Design and Build

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