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.
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.
RIGHT OF OFFSET has the meaning set forth in Section 6.8.

Examples of RIGHT OF OFFSET in a sentence

  • Statutory Lien (Right of Offset) Federal law grants us the right to impress a lien on all funds in any Account that you have with us if you are in default or otherwise fail to satisfy a financial obligation with us.

  • If Contractor fails to make the necessary repairs or replacements and do so in a timely manner, State will be entitled to exercise its remedies under paragraph 8.5 [Right of Offset].

  • If Contractor fails to do so in a timely manner, State will be entitled to exercise its remedies under paragraph 8.5 [Right of Offset] of the Uniform Terms and Conditions.

  • Any fee or service charge assessed against your Account shall be subject to the provisions of this Agreement, including those set forth in the Right of Offset section.

  • The following terms and provisions shall survive termination or expiration of this Agreement for any reason and shall not release either Party from any liabilities or obligations: Section 5 (Intellectual Property); 6 (Confidentiality); 7 (Warranties, Indemnities and Liabilities); 8.3 (Right of Offset); 9.3 (Rights Upon Termination); 10.10 (Survival); 10.14 (Governing Law); 10.15 (Dispute Resolution).

  • If you fail to return funds to CFCU, you agree that CFCU may debit any account you have with CFCU unless otherwise prohibited by law, see "Our Right of Offset and Statutory Lien on Shares" section in your Account Disclosure and Agreement.

  • Any fee or service charge assessed against your account shall be subject to the provisions of this Agreement, including those set forth in the Right of Offset section.

  • Right of Offset - Subscriber agrees that a debit that fails to post (“charge back”) against a Customer account shall be the sole responsibility and liability of Subscriber.

  • The Equityholders acknowledge and agree that Buyer’s Right of Offset described in Section 9.02 shall apply to any indemnity or other payments to be made by the Equityholders under this Article VIII.

  • In the event that Buyer exercises its Right of Offset against any Earnout Consideration in satisfaction of any indemnification claim against the non-Key Employee Sellers, the non-Key Employee Sellers and the Key Employees hereby agree that the non-Key Employee Sellers shall proportionately indemnify and reimburse the Key Employees to the extent that Buyer’s claims against each such non-Key Employee Seller have been set off against Earnout Consideration.


More Definitions of RIGHT OF OFFSET

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 advice or representation obtained from any bank employee or representative shall create a warranty or representation for purposes of this agreement or the service.
RIGHT OF OFFSET. Payment. "***"
RIGHT OF OFFSET shall have the meaning given that term in Section 7.7.
RIGHT OF OFFSET shall have the meaning set forth in Section 10.06.

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 8.

  • Right of Reference means a “Right of Reference,” as that term is defined in 21 C.F.R. § 314.3(b) and any comparable right existing under the laws or regulations of any foreign country.

  • Right of Co-Sale means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice.

  • Right of First Refusal and Co-Sale Agreement means the agreement among the Company, the Purchasers, and certain other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit F attached to this Agreement.

  • Permitted Right of Others means a Right of Others consisting of (a) an interest (other than a legal or equitable co-ownership interest, an option or right to acquire a legal or equitable co-ownership interest and any interest of a ground lessor under a ground lease), that does not materially impair the fair market value or use of Property for the purposes for which it is or may reasonably be expected to be held, (b) an option or right to acquire a Lien that would be a Permitted Encumbrance or other encumbrance permitted pursuant to Section 6.9, (c) the subordination of a lease or sublease in favor of a financing entity and (d) a license, or similar right, of or to Intangible Assets or other similar Property granted in the ordinary course of business.

  • Right of First Refusal Agreement means the Right of First Refusal Agreement, dated as of August 4, 2017, among the Partnership, the Operating Partnership and NextEra Energy Resources, LLC.

  • offset [873,884]},{"key":"for-the-purposes-of","type":"clause","offset":[885,904]},{"key":"rendering","type":"clause","offset":[905,914]},{"key":"examination","type":"clause","offset":[964,975]},{"key":"lcb","type":"definition","offset":[979,982]},

  • Right of First Offer shall have the meaning set forth in Section 13.1 hereof.

  • Right of Repurchase means the Company’s right of repurchase described in Section 7.

  • Dissent Rights means the rights of dissent in respect of the Arrangement described in the Plan of Arrangement;

  • 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.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Offsets means those conditions imposed or considered by an entity prior to, or in the course of its procurement process, that encourage local development or improve its Party's balance of payments accounts by means of requirements of local content, licensing of technology, investment, counter-trade or similar requirements;

  • Compensation Options has the meaning ascribed thereto on the face page of this Agreement;

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Put Right has the meaning set forth in Section 8.05(a).

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Right-of-Way Permit means either the excavation permit or the obstruction permit, or both, depending on the context, required by this chapter.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.