Common use of Set-off and Recoupment Clause in Contracts

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. The Design Professional By: (Signature) Owner Xxxxxxxx X. Xxxxxx Executive Vice President and Chief Financial Officer EXHIBIT ARB -- Rules of Arbitration 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.