Right to Offset definition

Right to Offset. Without limiting Seller’s other rights and remedies, Seller has the right to set off and/or net its obligations under the Agreement against any debts, claims or obligations owed by Buyer to Seller.
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Right to Offset. We may withhold from payment owed to you any amount due to us from you under the indemnification provision, any other provision of this Agreement, or due to a breach of this Agreement in the performance of this agreement or as to any breach of a duty to indemnify.
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Right to Offset or “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.
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Examples of Right to Offset in a sentence

  • B.3.7 Right to Offset In the event DPS determines that Contractor owes money to DPS under any contract or purchase order, DPS, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor with respect to this Contract or with respect to any other contract or purchase order with DPS and apply such monies to the money due to DPS.

  • B.3.7 Right to Offset In the event TMD determines that Contractor owes money to TMD under any contract or purchase order, TMD, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor with respect to this Contract or with respect to any other contract or purchase order with TMD and apply such monies to the money due to TMD.

  • B.3.7 Right to Offset In the event DPS determines that Contractor owes money to DPS under any contract or purchase order, DPS, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor withrespect to this Contract or with respect to any other contract or purchase order with DPS and apply such monies to the money due to DPS.

  • Right to Offset: The SFA shall be entitled to offset against any sums due the contractor, any expenses or costs incurred by the SFA or damages assessed by the SFA concerning the contractor’s nonconforming performance or failure to perform the Contract, including expenses, costs and damages described in the Uniform General Terms and Conditions.

  • G.4.4 Right to Offset In the event the Department determines that the Contractor owes money to the Department under any contract or purchase order, the Department, upon providing the Contractor with written notice of its intent to offset, shall have the right to withhold monies due to the Contractor with respect to this Contract or purchase order or with respect to any contract or purchase order with the Department and apply such monies to the money due to the Department.

  • Members of the Railroad Clearinghouse (RCH) should refer to Railroad Clearinghouse Settlement Regulation 3.5 for authority and time limits concerning the Right to Offset.

  • Right to Offset: TNG wholesale distribution centers are entitled to offset credits due us for returned amounts against amounts otherwise due to the Suppliers.

  • Right to Offset Damages or Distributions The Panel granted the request that any damages awarded to one party can be an offset to distributions (or damages) due to the other party.

  • Buyer and Seller agree that due to the price fluctuations inherent in this industry, three (3) business days shall constitute commercially reasonable notice of Seller’s intention to re-sell, and exercise its rights pursuant to Section 12 (Right to Offset) above.

  • G.3.7 Right to Offset In the event the Department determines that the Contractor owes money to the Department under any contract or purchase order, the Department, upon providing the Contractor with written notice of its intent to offset, will have the right to withhold monies due to the Contractor with respect to this Contract or with respect to any other contract or purchase order with the Department and apply such monies to the money due to the Department.G.3.8 Annual Financial Rating A.

Related to Right to Offset

  • Right shall have the meaning set forth in the second paragraph hereof.

  • 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 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 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.

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Rejection Damages Claim means any Claim on account of the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code.

  • Minimum Essential Coverage has the meaning given in the Affordable Care Act, 26 U.S.C. §5000A(f).

  • 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.

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • 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;

  • Aggregate Limit shall have the meaning assigned to such term in Section 1.1 hereof.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Summary of Rights shall have the meaning set forth in Section 3(b) hereof.

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors, as applicable.