Offsetting Party definition

Offsetting Party is defined in Section 19.12 below.
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Offsetting Party has the meaning set forth in Section 17.14 (Offsets)
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Offsetting Party is defined in Section 8.2(e).
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Examples of Offsetting Party in a sentence

  • The Offsetting Party asserting an offset shall provide a prompt written explanation of the amount and the basis for the offset.

  • In the event that a Party owes the other Party (“Offsetting Party”) any amount under this Contract, the Offsetting Party owed such amount may at any time offset any and all amounts that are due and owed to the other Party against such amount that the other Party owes the Offsetting Party.

  • If a Party (the “Offsetting Party”) is entitled to payment of any amount (the “Off-Setting Amount”) from the other Party with respect to an indemnification payment under any of the provisions of this Agreement, then the Off-Setting Amount may be deducted from (i) any payment owed by the Offsetting Party for Services under Section 2 of this Agreement and (ii) any indemnification payment owed by the Offsetting Party to the other Party.

  • Prior to exercising this right, the Offsetting Party, through a vice president or higher officer, shall first attempt, in good faith, to resolve the matter giving rise to setoff to the satisfaction of both parties with a vice president or higher officer of the other party, but is not obligated to do so for more than [**] business days after the offsetting Party notifies the other Party of its offset right.

  • In the event that a Party owes the other Party (“Offsetting Party”) any amount under this Contract (less any amounts disputed in good faith pursuant to Section 19.5), the Offsetting Party owed such amount may at any time offset any and all amounts that are due and owed to the other Party against such amount that the other Party owes the Offsetting Party.

  • Either party (the "Offsetting Party") shall have the right to set off against payment due to the other party hereunder any amounts that the other party then owes to the Offsetting Party, including, without limitation, any amounts subject to an indemnifiable claim, whether arising out of this Agreement or any of the Related Agreements.

  • In the event that a Party owes the other Party (“Offsetting Party”) any amount under this Agreement, the Offsetting Party owed such amount may at any time offset any and all amounts that are due and owed to the other Party against such amount that the other Party owes the Offsetting Party.

  • Any party (the "Offsetting Party") may offset and deduct from any amount payable by the Offsetting Party to the other party (the "Debtor Party") under this Agreement or the Sale Agreement any amount which is, at the time of exercise of the right of offset and deduction, presently due and payable by the Debtor Party to the Offsetting Party pursuant to this Agreement or the Sale Agreement.

  • Either party (the “Offsetting Party”) may deduct, set off, withhold, or apply any sums or payments due from the other party to the Offsetting Party, against any sums due from the Offsetting Party to the other party, provided that, the Offsetting Party has notified the other party of its intention to make such set off and the reasons for such set off in writing and has provided the other party with a 30 day grace period to resolve the issues giving rise to such proposed set off.

  • Any party (the "Offsetting Party") may offset and deduct from any amount payable by the Offsetting Party to the other party (the "Debtor Party") under this Agreement or the Servicing Agreement any amount which is, at the time of exercise of the right of offset and deduction, presently due and payable by the Debtor Party to the Offsetting Party pursuant to this Agreement or the Servicing Agreement.


More Definitions of Offsetting Party

Offsetting Party shall have the meaning given in Section 10.6.
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Related to Offsetting Party

  • Performing Party As defined in Section 11.12.

  • Defaulting Party has the meaning specified in Section 6(a).

  • Tax Indemnified Party shall have the meaning set forth in Section 7.6(d).

  • Tax Indemnitee as defined in Section 3.01(5).

  • Terminating Party As defined in Section 7.1(f).

  • Hedging Party means at any relevant time, the Issuer, or any of its affiliates or any other party providing the Issuer directly or indirectly with hedging arrangements in relation to the Notes as the Issuer may select at such time.

  • Purchasing Party means a Party requesting or receiving a Service from the other Party under this Agreement.

  • Consenting Party means a Party who agrees to participate in and pay its share of the cost of an Exclusive Operation.

  • Tax Indemnifying Party shall have the meaning set forth in Section 7.6(d).

  • Producing Party means the parties to this action and any third-parties producing “Confidential Information” in connection with depositions, document production or otherwise, or the party asserting the confidentiality privilege, as the case may be.

  • Specified Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Initiating Party means a party who gives notice under section 2 of this Schedule;

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Proposing Party has the meaning set forth in Section 5.2.2.4(a).

  • Transaction Party means the Company and each Guarantor, collectively, “Transaction Parties”.

  • Disputing Party has the meaning specified in Paragraph 5.

  • Settling Party means any one of, and “Settling Parties” means all of, the parties to the Stipulation, namely Defendants and Plaintiffs (on behalf of themselves and the Settlement Class).

  • Defaulting Purchaser means any Related Committed Purchaser or LC Participant, as applicable, that (a) has failed to (i) perform its obligation to fund any portion of its Purchases or Participation Advances or (ii) pay over to the Administrator or any Purchaser any other amount within two Business Days of the date required to be funded or paid by it hereunder, unless, in the case of clause (i) above, such Related Committed Purchaser or LC Participant, as applicable, notifies the Administrator and the Seller in writing that such failure is the result of such Related Committed Purchaser’s or LC Participant’s, as applicable, good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified the Seller, the Administrator or any Purchaser in writing, or has made a public statement to the effect, that it does not intend to comply with any of its funding obligations under this Agreement or any other Transaction Document or generally under other agreements in which it commits or extends credit (unless such writing or public statement relates to such Related Committed Purchaser’s or LC Participant’s, as applicable, obligation to fund any portion of its Purchases or Participation Advances and states that such position is based on such Related Committed Purchaser’s or LC Participant’s, as applicable, good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied), (c) has failed, within three Business Days after written request by the Administrator or the Seller, to confirm in writing in a manner satisfactory to the Administrator and the Seller, that it will comply with the terms of this Agreement and the other Transaction Documents relating to its obligations to fund prospective Purchases and Participation Advances under this Agreement (provided that such Related Committed Purchaser or LC Participant, as applicable, shall cease to be a Defaulting Purchaser pursuant to this clause (c) upon receipt of such written confirmation by the Administrator and the Seller), (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any bankruptcy or insolvency proceeding or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such capacity; provided that, for the avoidance of doubt, a Related Committed Purchaser or LC Participant, as applicable, shall not be a Defaulting Purchaser solely by virtue of the ownership or acquisition of any equity interest in such Related Committed Purchaser or LC Participant, as applicable, or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Related Committed Purchaser or LC Participant, as applicable, with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Related Committed Purchaser or LC Participant, as applicable (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Related Committed Purchaser or LC Participant, as applicable.

  • Defaulting Entity shall have the meaning set forth for such term in Section 6.02(a) hereof. “Deficiency Amount” shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Designating Party has the meaning set forth in Section 12.22.3.

  • Financing Party means any and all Persons, or the agents or trustees representing them, providing senior or subordinated debt or tax equity financing or refinancing (including letters of credit, bank guaranties or other credit support).

  • Breaching Party has the meaning set forth in Section 12.2.

  • Contracting Party shall have the meaning designated in the preamble to Section 5.2 hereof.

  • Billing Party means the Party rendering a bill.

  • Determining Party For all applicable Extraordinary Events, Dealer. Non-Reliance: Applicable Agreements and Acknowledgments Regarding Hedging Activities: Applicable Additional Acknowledgments: Applicable

  • Aggrieved party means a party entitled to pursue a remedy.