Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a Collateral Account will not be subject to deduction, set-off, recoupment, banker’s lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.
Set-off and Recoupment. The financial assets, money and other items credited to each Collateral Account will not be subject to deduction, set-off, recoupment, banker’s lien, or any other right in favor of any person other than the Secured Party. However, the Financial Institution may set off (a) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation of each Collateral Account, (b) the face amount of any checks which have been credited to a Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds and (c) any advances made in connection with the settlement of any investment made with respect to the Collateral Accounts.
Set-off and Recoupment. Any amount or amounts due from any ---------------------- Indemnifying Party to PQC under this Article VII may be paid to PQC, at PQC's option, by set-off or recoupment against any amounts due to the Indemnifying Party pursuant to this Agreement or pursuant to any agreement between the Indemnifying Party and PQC, Flagship or any of their respective affiliates. Any such set-off will be without prejudice to PQC's right to pursue any other remedies at law or in equity available to it.
Set-off and Recoupment. Without prejudice to Owner’s right to terminate this Agreement in accordance with the terms of this Agreement, and in addition to any other available remedies, Owner shall have the right of set- off and recoupment against amounts coming due to Design Professional under this Agreement, or any other agreement between the parties, in the event Design Professional breaches this Agreement or any right of indemnification arises in favor of Owner under this Agreement or any other agreement between the parties. Design Professional retains the right to lawfully contest any such set-off or recoupment in an action to collect any amounts due Design Professional under this Agreement, or other agreements between the parties. The inclusion of this special set-off or recoupment provision shall not affect the availability, if any, of rights of set-off or recoupment arising at law or in equity. [FIRM NAME] The Design Professional By: (Signature) (Printed Name) (Title) THE REGENTS OF THE UNIVERSITY OF MICHIGAN Owner By: Xxxxxxxx X. Xxxxxx Executive Vice President and Chief Financial Officer
Set-off and Recoupment. Without prejudice to Owner’s right to terminate this Agreement in accordance with the terms of this Agreement, and in addition to any other available remedies, Owner shall have the right of set- off and recoupment against amounts coming due to Design Professional under this Agreement, or any other agreement between the parties, in the event Design Professional breaches this Agreement or any right of indemnification arises in favor of Owner under this Agreement or any other agreement between the parties. Design Professional retains the right to lawfully contest any such set-off or recoupment in an action to collect any amounts due Design Professional under this Agreement, or other agreements between the parties. The inclusion of this special set-off or recoupment provision shall not affect the availability, if any, of rights of set-off or recoupment arising at law or in equity. [FIRM NAME] The Design Professional By: (Signature) (Printed Name) (Title) THE REGENTS OF THE UNIVERSITY OF MICHIGAN Owner By: Xxxxxxxx X. Xxxxxx Executive Vice President and Chief Financial Officer EXHIBIT ARB -- Rules of Arbitration Modified Fast Track Rules F-1. APPLICABILITY These Modified Fast Track Rules ("MFTR") will apply to all arbitration proceedings under the Agreement, regardless of the amount in controversy. The MFTR will be applied as described herein, in addition to any other portion of the Construction Industry Arbitration Rules of the American Arbitration Association ("AAA") that are not in conflict with the Arbitration provisions of the General Conditions (Section 15.8, et seq.) and the MFTR.
Set-off and Recoupment. Bank may, at its option and at any time or times without prior notice to Borrower, set-off and apply toward payment of the Loan and other amounts now owing and amounts which may become owing by Borrower under the Loan Documents, and otherwise exercise its rights of recoupment, as to any and all (1) balances and deposits of Borrower held by Bank, (2) Indebtedness and other obligations at any time owing to or for the credit and account of Borrower by Bank and (3) Indebtedness and other obligations at any time owing to or for the credit and account of Borrower by any of Bank’s Affiliates.
Set-off and Recoupment. 5.1 In addition to any right of set-off or recoupment provided by law, all amounts due to Seller shall be considered net of indebtedness or obligations of Seller and its subsidiaries and affiliates to Buyer and its subsidiaries and affiliates. Buyer and its subsidiaries and affiliates shall have the right to set-off against or recoup from any payment or other obligation owed to Seller, in whole or in part, any amounts due to Buyer or its affiliates or subsidiaries from Seller or its affiliates and subsidiaries, however and whenever arising. Buyer may do so without notice to Seller or its subsidiaries and affiliates. If any obligations of Seller or its subsidiaries or affiliates to Buyer or its subsidiaries or affiliates are disputed, contingent or unliquidated, Buyer may defer payment of amounts due until such obligations are resolved.
Set-off and Recoupment. The financial assets, money and other items credited to each Pledged Account will not be subject to deduction, set-off, recoupment, banker’s lien, or any other right in favor of any person other than the Secured Party.
Set-off and Recoupment. Following a default on a payment obligation hereunder, the Parties agree that such defaulted payment obligations shall be subject to set off or recoupment to the maximum extent permitted by applicable law. #90879273v29
Set-off and Recoupment. In addition to any other available remedies, Buyer shall have the right of set off and recoupment against the Escrow Cash Amount pursuant to the terms of the Escrow Agreement, and to the extent that the Escrow Cash Amount is insufficient or unavailable, against other amounts coming due to any of Seller Parties under this Agreement or any other instruments ancillary hereto in the event that any of Seller Parties breaches this Agreement or any right of indemnification arises in favor of either Buyer under this Agreement. The exercise of such set off or recoupment by Buyer in good faith, whether or not ultimately determined to be valid, will not constitute an event of default under this Agreement or any other instrument ancillary hereto. Seller Parties retain the right to contest any such set off or recoupment in an action to collect any amounts due Seller Parties under this Agreement or such other ancillary instruments. Neither the exercise of nor the failure to exercise such right of set off or recoupment shall constitute an election of remedies or impair the availability of other remedies. The inclusion of this special set off or recoupment provision shall not affect the availability, if any, of rights of set off or recoupment arising at law or in equity. ASSET PURCHASE AGREEMENT
