Right of Set-Off definition

Right of Set-Off means any right of set off arising from a deposit of money made by the Borrower with the Seller or from any transaction between the Borrower and the Seller other than one relating to the Mortgage Loan.

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Right of Set-Off. If you ever owe us money and it is due, we may, to the extent we have a right under the law or under an agreement with you, use the money from any of your accounts with us, including joint accounts, to pay the debt, even if withdrawing the money results in an interest penalty to you. If any joint account holder owes us money and it is due, we may use the money from the joint account to pay the debt. The use of your funds to pay a debt you or a joint account owner owes to us is referred to as our “right to offset” or “right of set-off.” Any garnishment or levy against your account is subject to our right to offset within applicable laws.

Right of Set-Off. If you ever owe us money and it is due, we may, to the extent we have a right under the law or under an agreement with you, use the money from any of your accounts with us, including joint accounts, to pay the debt, even if withdrawing the money results in an interest penalty to you. If any joint account holder owes us money and it is due, we may use the money from the joint account to pay the debt. The use of your funds to pay a debt you or a joint account owner owes to us is referred to as our “right to offset” or “right of set-off.” Any garnishment or levy against your account is subject to our right to offset within applicable laws. Rules, Regulations, and Other Agreements: The U.S. Treasury requires financial institutions to verify their customers’ identities and obtain certifications of valid taxpayer identification or employer identification numbers. If we do not receive such a certification within 60 calendar days of account opening, we will close the account and mail the proceeds to the account holder.

Examples of Right of Set-Off in a sentence

• Waiver of Right of Set-Off 11 ARTICLE VI - TERMINATION 11 Section 6.01.

• The provisions set forth in Section 23.2 (Right of Set-Off) of the Common Terms Agreement are incorporated by reference and shall apply mutatis mutandis as if fully set forth herein.

• Notwithstanding the foregoing, if Awardee engages in Triggering Conduct or Competitor Triggering Conduct as herein defined, the Restricted Share Units subject to such beneficiary designation shall be subject to the Special Forfeiture/Repayment Rules and the Company’s Right of Set-Off or other right of recovery set forth in this Agreement, and all rights of the beneficiary shall be subordinated to the rights of the Company pursuant to such provisions of this Agreement.

• The Lender shall, except in cases where the Lender has the right to retain security as provided for in Clause 7(Security and Right of Set-Off) below, release the charge created over the Secured Assets, on a receipt of such request.

• The Lender shall, except in cases where the Lender has the right to retain Security as provided for in Clause 7 (Security and Right of Set-Off) below, release the charge created over the Secured Assets, on a receipt of such request.

More Definitions of Right of Set-Off

Right of Set-Off means from time to time, in relation to the Parent every right (whether conferred by law or otherwise) which the Parent has to combine credit balances and debit balances, directly or indirectly, being balances which belong to the Franchisee, or are owing by the Franchisee, or are deposits by the Franchisee with the Parent;

Right of Set-Off means, subject to the terms and conditions set forth in this Agreement, the right of Buyer to set off against the principal amount of a Buyer Note any payments due to it from a Seller pursuant to this Agreement.

Right of Set-Off means that if a landlord is required to pay a contract-holder compensation for things such as a failure to provide a written statement of the contract, the contract-holder may withhold rent to the value of the outstanding compensation. Section 87 of the Act sets out all the circumstances in which a landlord may be liable to pay compensation and way in which that compensation is to be calculated.

Right of Set-Off would include to the extent legally possible, the rights to compensate under Spanish Royal Decree-Law 5/2005; and

Right of Set-Off shall have the meaning set forth in Section 11.6(b).

Right of Set-Off under the Financial Services Agreement, in the event of any default by Founder Finance in respect of amounts deposited with it by the Group and causing it not being able to recover such deposits, the Group will be able to offset the amounts owing from the Group to Founder Finance against the amounts due to the Group from Founder Finance; likewise, in the event of any default in repayment by the Group in respect of loans procured from Founder Finance, Founder Finance will be able to offset the amounts deposited with it by the Group against the amounts owing from the Group to Founder Finance;

Right of Set-Off as set forth in Article 8.5 herein. Such right of set off shall continue to be effective and available to Buyer notwithstanding the assignment by Seller to Stockholder of Seller's right and entitlements pursuant to Article 2.4(e) hereof or the liquidation of the Seller.