Set-Off by Province Sample Clauses

Set-Off by Province. OFNLP and OFNLP 2008 each further agrees that, notwithstanding any other provision in this Agreement or any other remedy which the Province may have under this Agreement or pursuant to Applicable Laws, the full amount of any Losses or Liabilities whatsoever of the Protected Parties relating to or arising out of the use, expenditure, investment or distribution of the Collective Use Monies or any income, proceeds or other monies derived therefrom by OFNLP 2008, or any claim by any OFNLP Limited Partner or any OFNLP 2008 Limited Partner relating thereto or arising therefrom, may be payable by the Province and may be deducted and set off against any payments payable to OFNLP pursuant to the terms of the CRRA and against the $201 Million Payment and the Monthly Revenue Share Payments, including the Collective Use Monies, payable by the Province to OFNLP 2008 pursuant to the terms of this Agreement. The Province agrees that it will not deduct and set off from and against any such payments any amount of any Losses or Liabilities of the Protected Parties in accordance with this section 4.6 until at least three months from the day that a Protected Party provides notice to OFNLP, OFNLP 2008 or both of them, that the Protected Party claims indemnification from OFNLP, OFNLP 2008 or both of them pursuant to section 4.5.
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Related to Set-Off by Province

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