RIGHT OF OFFSET definition

RIGHT OF OFFSET. If any payment is not made on time, or if the entire balance becomes due and payable and is not paid, all or part of the amount due may be offset out of any account or other property which the Borrower has at the Bank or any affiliate of the Bank without prior notice or demand.
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RIGHT OF OFFSET means the right of B&W to offset against the Credit Facility all royalties accruing under Section 3.06 hereof, the Trademark License and Royalty Agreement, the Other Low TSNA Tobacco Royalty Agreement and the Hard Tobacco Agreement pursuant to the terms and provisions of those agreements and the Restated Loan Agreement.
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RIGHT OF OFFSET shall have the meaning given that term in Section 7.7.
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Examples of RIGHT OF OFFSET in a sentence

  • ANY AND ALL RIGHTS TO REQUIRE BUYER OR ITS AFFILIATES TO EXERCISE THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL OR PURCHASED ITEMS THAT SECURE THE AMOUNTS OWING TO BUYER OR ITS AFFILIATES BY SELLER UNDER THE TRANSACTION DOCUMENTS, PRIOR TO EXERCISING THEIR RIGHT OF OFFSET WITH RESPECT TO SUCH MONIES, SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF SELLER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY SELLER.

  • THIS NOTE IS SUBJECT TO A RIGHT OF OFFSET IN FAVOR OF INVESTOR UPON THE OCCURRENCE OF CERTAIN EVENTS AS SET FORTH IN MORE DETAIL IN SECTION 6 BELOW.

  • ANY AND ALL RIGHTS TO REQUIRE PURCHASER OR ITS AFFILIATES TO EXERCISE THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL OR PURCHASED ITEMS THAT SECURE THE AMOUNTS OWING TO PURCHASER OR ITS AFFILIATES BY SELLER UNDER THE TRANSACTION DOCUMENTS, PRIOR TO EXERCISING THEIR RIGHT OF OFFSET WITH RESPECT TO SUCH MONIES, SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF SELLER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY SELLER.

  • ANY INSURED DEPOSITORY INSTITUTION WHICH SHALL BE A NOTEHOLDER OR WHICH OTHERWISE SHALL HAVE ANY BENEFICIAL INTEREST IN THIS NOTE SHALL BY ITS ACCEPTANCE HEREOF BE DEEMED TO HAVE WAIVED ANY RIGHT OF OFFSET WITH RESPECT TO THE INDEBTEDNESS EVIDENCED HEREBY.

  • We may charge you, RIGHT OF OFFSET - Except as limited by law, we have the right to offset SECURITY INTEREST - You grant to us a security interest in all your accounts with us to secure any amount you owe us, now or in the future.

  • ANY AND ALL RIGHTS TO REQUIRE BUYER OR ITS AFFILIATES TO EXERCISE THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL THAT SECURES THE AMOUNTS OWING TO BUYER OR ITS AFFILIATES BY SELLER UNDER THE PURCHASE DOCUMENTS, PRIOR TO EXERCISING ITS RIGHT OF OFFSET WITH RESPECT TO SUCH MONIES, SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF SELLER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY SELLER.

  • We may charge RIGHT OF OFFSET - Except as limited by law, we have the right to offset SECURITY INTEREST - You grant to us a security interest in all your accounts with us to secure any amount you owe us, now or in the future.

  • ANY AND ALL RIGHTS TO REQUIRE ANY OF THE BUYERS OR THE AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE AMOUNTS OWING TO ANY OF THE BUYERS OR THE AGENT BY THE SELLERS UNDER THE REPURCHASE DOCUMENTS, PRIOR TO EXERCISING ITS RIGHT OF OFFSET WITH RESPECT TO SUCH MONIES, SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY SELLER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY EACH SELLER.

  • ANY AND ALL RIGHTS TO REQUIRE BUYER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE AMOUNTS OWING TO BUYER BY THE SELLERS UNDER THE REPURCHASE DOCUMENTS, PRIOR TO EXERCISING ITS RIGHT OF OFFSET WITH RESPECT TO SUCH MONIES, SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY SELLER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY EACH SELLER.

  • GPMI AND ASSIGNEE FURTHER HEREBY WAIVE ANY RIGHT OF OFFSET OR RIGHT TO INTERPOSE ANY COUNTERCLAIM IN ANY SUCH ACTION, EXCEPT FOR COMPULSORY COUNTERCLAIMS.


More Definitions of RIGHT OF OFFSET

RIGHT OF OFFSET shall have the meaning set forth in Section 8.8.
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RIGHT OF OFFSET. Payment. "***"
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RIGHT OF OFFSET has the meaning set forth in Section 6.8.
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RIGHT OF OFFSET. The Bank may, without prior notice or demand, obtain payment of any amount due, payable to it under this Agreement by debiting the account(s) of the Client as identified in this agreement. In the event there are not sufficient funds available to cover the Client’s obligations, the Client agrees that the Bank may debit any account maintained by the Client with the Bank in order to obtain payment of the Client’s obligations under this Agreement. Disclaimer of Warranty: Disclaimer of warranty you agree that your use of the service and all information and content (including that of third party service providers) is at your risk and is provided on an “as is” and “as available” basis. Neither the Bank nor any third party service provider makes any express or implied warranty as to the merchantability or fitness for a particular purpose, or noninfringement, quality, accuracy, or suitability of the service, and neither the Bank nor any third party service provider makes any other warranty with respect to the service except those warranties, promises, commitments, guarantees, or representations specifically stated in this agreement. Without limiting the generality of the foregoing, the Bank expressly disclaims any warranties regarding the operation, performance or functionality of the service, including, without limitation, that the service will operate without interruption or be error free. You further acknowledge that there are certain security, corruption, transmission error and availability risks associated with using open networks such as the internet, and telecommunication lines or circuits. You hereby assume all of the foregoing risks. You agree that no oral or written
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RIGHT OF OFFSET shall have the meaning set forth in Section 10.06.
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Related to RIGHT OF OFFSET

  • Right of Others means, as to any Property in which a Person has an interest, any legal or equitable right, title or other interest (other than a Lien) held by any other Person in that Property, and any option or right held by any other Person to acquire any such right, title or other interest in that Property, including any option or right to acquire a Lien; provided, however, that (a) no covenant restricting the use or disposition of Property of such Person contained in any Contractual Obligation of such Person and (b) no provision contained in a contract creating a right of payment or performance in favor of a Person that conditions, limits, restricts, diminishes, transfers or terminates such right shall be deemed to constitute a Right of Others.

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Right of First Refusal means the Company’s right of first refusal described in Section 7.

  • Exclusive Right to Sell listing means that if you, the owner of the property, find a buyer for your house, or if another broker finds a buyer, you must pay the agreed commission to the present broker.