NO SET-OFF definition

NO SET-OFF. Section 6(e) is amended by deleting the last sentence of the first paragraph.
NO SET-OFF. Subject to the terms of the relevant Intercompany Loan Confirmation, all payments required to be made by Funding under an Intercompany Loan Agreement shall be calculated without reference to any set-off or counterclaim and shall be made free and clear of, and without any deduction for or on account of, any set-off or counterclaim.
NO SET-OFF the Chargors has not subjected and will not subject the Charged Property, or any part thereof, to any defence, set-off or counterclaim;

Examples of NO SET-OFF in a sentence

  • NO SET-OFF In the event of any termination of this Agreement by either the Company or the Executive for any reason, the Executive shall not be required to seek comparable employment so as to minimize any obligation of the Company to compensate the Executive for any damages that he may suffer by reason of such termination or for any severance or other payment.

  • NET LEASE, NO SET-OFF, COUNTERCLAIM, ETC................................................52 SECTION 19.

  • NO SET-OFF, COUNTERCLAIM OR REDUCTION OF ANY OBLIGATION, OR ANY DEFENSE OF ANY KIND OR NATURE WHICH THE GUARANTOR HAS OR MAY HAVE AGAINST APPLICANT OF THE COMPANY SHALL BE AVAILABLE HEREUNDER TO THE GUARANTOR AGAINST THE COMPANY IN THE EVENT OF A DEFAULT BY APPLICANT ON ITS OBLIGATIONS TO THE COMPANY.

  • NO SET-OFF ------------------------- The Company agrees that if Xxxxxxx'x employment with the Company is terminated (including, without limitation, as provided in Section 4.1(c) hereof) prior to the Employment Expiration Date for any reason whatsoever, Xxxxxxx is not required to seek other employment or to attempt in any way to reduce any amounts payable to Xxxxxxx by the Company pursuant to this Agreement.

  • NO SET-OFF.......................................................

  • The Secretariat may establish several sub-committees to carry out the purposes of this Consortium.

  • NO SET-OFF....................................................................................

  • NO SET-OFF ...................................................................................................................

  • NO SETOFF: The Makers covenant and agree that it will not exercise any right which it might otherwise have at common law, or otherwise, to setoff amounts due and owing to such Makers hereunder against amounts which are or may be due and owing to any one or more of the Makers by the Payee.

  • GENERAL 20 18.1 COMMUNICATIONS TO OFFSHORE NOTEHOLDERS 20 18.2 AGENCY 20 18.3 IDENTITY 21 18.4 NO SET-OFF 21 18.5 RELIANCE 21 18.6 ENTITLED TO DEAL 21 18.7 CONSULTATION 22 18.8 DUTIES 22 18.9 INCOME TAX RETURNS 22 18.10 TAXES 22 18.11 WRITTEN INSTRUCTIONS 22 18.12 NO REPRESENTATIONS 22 18.13 EUROPEAN UNION TAX DIRECTIVE 22 18.14 KNOW YOUR CUSTOMER 23 19.


More Definitions of NO SET-OFF

NO SET-OFF. Reinstatement: Subrogation. The Guarantor waives notice of the acceptance of this Guarantee and of the performance or nonperformance by the Lessee, demand for payment from the Lessee or any other Person, notice of nonpayment or failure to perform on the part of the Lessee, diligence, presentment, protest, dishonor and, to the fullest extent permitted by law, all other demands or notices whatsoever, other than the request for payment hereunder and notice provided for in Section 1 hereof. The obligations of the Guarantor shall be absolute and unconditional and shall remain in full force and effect until satisfaction of all Obligations hereunder and, without limiting the generality of the foregoing, to the extent not prohibited by applicable law, shall not be released, discharged or otherwise affected by the existence of any claims, set-off, defense or other rights that the Guarantor may have at any time and from time to time against any Party, whether in connection herewith or any unrelated transactions. This Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any Financial Obligation is rescinded or must otherwise be returned by any Party upon the insolvency, bankruptcy, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding with respect to the Lessee or otherwise, all as though such payment had not been made. The Guarantor, by virtue of any payment or performance hereunder to a Party, shall be subrogated to such Party's claim against the Lessee or any other Person relating thereto; provided, however, that the Guarantor shall not be entitled to receive payment from the Lessee in respect of any claim against the Lessee arising from a payment by the Guarantor:

Related to NO SET-OFF

  • Set-off means set-off, offset, combination of accounts, right of retention or withholding or similar right or requirement to which the payer of an amount under Section 6 is entitled or subject (whether arising under this Agreement, another contract, applicable law or otherwise) that is exercised by, or imposed on, such payer.

  • Recoupment means the recovery of skills or behaviors specified on the IEP to a level demonstrated before the interruption of education services.

  • offset [2707,2711]},{"key":"replacement-guarantor","type":"clause","offset":[2731,2752]},{"key":"of-seller","type":"clause","offset":[2833,2842]},{"key":"date-of","type":"clause","offset":[2853,2860]},{"key":"based-on-the","type":"clause","offset":[2906,2918]},{"key":"most-recent","type":"definition","offset":

  • Excluded Amounts means:

  • Counterclaim means a claim asserted in a pleading filed with the Board in an arbitration proceeding pursuant to this clause which arises from the same occurrence or transaction that is the subject matter of the opposing party’s claim. Counterclaims do not need to be submitted to the Subcontract Administrator for decision.

  • Unrelated Amounts means (a) amounts deposited by the Servicer into the Collection Account but later determined by the Servicer to be mistaken or returned deposits or postings, (b) amounts deposited by the Servicer into the Collection Account as Collections but which were later determined by the Servicer to not constitute Collections with respect to the Receivables and (c) amounts received by the Servicer with respect to a Receivable that the Servicer is prohibited from depositing into the Collection Account or otherwise remitting to the Issuer by law or court order, the direction of a regulatory authority or regulatory guidance.

  • Declined Amounts has the meaning specified in Section 2.05(c).

  • Avoidance Actions means any and all avoidance, recovery, subordination, or other claims, actions, or remedies that may be brought by or on behalf of the Debtors or their Estates or other authorized parties in interest under the Bankruptcy Code or applicable non-bankruptcy law, including actions or remedies under sections 502, 510, 542, 544, 545, 547 through 553, and 724(a) of the Bankruptcy Code or under similar or related state or federal statutes and common law, including fraudulent transfer laws.

  • Exculpated Claim means any claim related to any act or omission in connection with, relating to or arising out of the Debtors’ in or out-of-court restructuring efforts (including any and all actions associated with exploration and solicitation of financing/refinancing opportunities, sales or similar transactions, restructurings, the Chapter 11 Cases, formulation, preparation, dissemination, negotiation or filing of the Disclosure Statement or the Plan or any contract, instrument, release or other agreement or document created or entered into in connection with the Disclosure Statement or the Plan, the filing of the Chapter 11 Cases, the pursuit of confirmation of the Plan, the administration and implementation of the Plan, the issuance of the Series 2020 Note and the execution of 2020 Bond Documents, or the distribution of property under the Plan or any other related agreement; provided, however, that Exculpated Claims shall not include any act or omission that is determined in a Final Order to have constituted gross negligence, willful misconduct or fraud to the extent imposed by applicable non-bankruptcy law. For the avoidance of doubt, no Cause of Action, obligation or liability expressly established or preserved by the Plan or the Plan Supplement constitutes an Exculpated Claim.

  • Unladen mass means the mass of any motor vehicle or trailer as recorded in a licence or certificate issued in respect of such motor vehicle or trailer by any authority empowered by law to issue licences in respect of motor vehicles;

  • Other Taxes means all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document.

  • Avoidance Action means any claim or cause of action of an Estate arising out of or maintainable pursuant to sections 502, 510, 541, 542, 543, 544, 545, 547, 548, 549, 550, 551, or 553 of the Bankruptcy Code or under any other similar applicable law, regardless of whether or not such action has been commenced prior to the Effective Date.

  • Section 510(b) Claim means any Claim arising from: (a) rescission of a purchase or sale of a security of the Debtors or an Affiliate of the Debtors; (b) purchase or sale of such a security; or (c) reimbursement or contribution allowed under section 502 of the Bankruptcy Code on account of such a Claim.

  • Exculpated Party means, collectively, and in each case in its capacity as such: (a) the Debtors;

  • Tax Refund means a refund of Taxes previously paid and any overpayment interest within the meaning of Section 6611 of the Code or any similar provision under applicable Tax Law (whether paid by way of a refund or credited against any liability for related Taxes).

  • Servicer Indemnified Amounts has the meaning set forth in Section 13.02(a).

  • Released Claim means the matters that are subject to release and discharge pursuant to ARTICLE 10 hereof;

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • Equitable Defenses means any bankruptcy, insolvency, reorganization or other Laws affecting creditors’ rights generally and, with regard to equitable remedies, the discretion of the court before which proceedings may be pending to obtain same.

  • Indemnified Amounts The meaning specified in Section 10.1(a).

  • Further Taxes means any and all present or future taxes, levies, assessments, imposts, duties, deductions, fees, withholdings or similar charges (including, without limitation, net income taxes and franchise taxes), and all liabilities with respect thereto, imposed by any jurisdiction on account of amounts payable or paid pursuant to Section 4.01.

  • Tax Refunds means refunds of any Cash paid by the Participating CCAA Parties on account of Taxes, refunded to such Participating CCAA Parties from time to time by the applicable Taxing Authorities;

  • of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, "control" when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing.

  • Section 510(b) Claims means any Claim against any Debtor: (a) arising from the rescission of a purchase or sale of a Security of any Debtor or an affiliate of any Debtor; (b) for damages arising from the purchase or sale of such a Security; or (c) for reimbursement or contribution Allowed under section 502 of the Bankruptcy Code on account of such a Claim; provided that a Section 510(b) Claim shall not include any Claims subject to subordination under section 510(b) of the Bankruptcy Code arising from or related to an Interest.

  • Seller Taxes has the meaning set forth in Section 11.1(f).

  • Illegal use of drugs means the use of drugs, the possession or distribution of which is unlawful. Such term does not include the use of a drug taken under the supervision by a licensed health care professional.