Right of Setoff has the meaning set forth in Section 8.9.
Right of Setoff. We may (without prior notice and when permitted by law) set off the funds in this or any accounts where you maintain a right of withdrawal against any due and payable debt you owe us now or in the future. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance for which we properly accelerate under the note.
Right of Setoff has the meaning set forth in Section 2.3.2 below.
Examples of Right of Setoff in a sentence
To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 13.6 (Right of Setoff) as though it were a Lender; provided that such Participant agrees to be subject to Section 13.7 (Sharing of Payments by Lenders) as though it were a Lender.
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More Definitions of Right of Setoff
Right of Setoff means any right of setoff, rescission, counterclaim, reduction, deduction or defense.
Right of Setoff. We may, without prior notice, set off all the shares, deposits, and accumulated dividends in your jointly and individually owned accounts against any due and payable amount you owe us now or in the future, except where prohibited by law.
Right of Setoff. LSC Industries may, at its election, set off against any amounts payable to Seller under any Purchase Order.
Right of Setoff. The Credit Union has a right of set-off. This means the Credit Union may set-off against your accounts any liabilities or obligations owed the Credit Union, except when prohibited by law or specifically disclaimed by loan agreement.
Right of Setoff is defined in Section 8.3(b)(iii).
Right of Setoff means a procedural act by which, within the competence of a Tribunal constituted under Article 26 (Submission of a Claim to Arbitration) or Article 30 (Consolidation), a disputing party presents an application for compensation;
Right of Setoff shall have the meaning assigned in Section 5.01.