Right to Set Off definition
Right to Set Off sub- sections below for more information about what could occur if the Account has a negative balance.
Right to Set Off. Although the Firm expects to settle this award in share(s) of Common Stock as of the applicable vesting date, as set forth in your Award Agreement, the Firm may, to the maximum extent permitted by applicable law (including Section 409A of the Code to the extent it is applicable to you), retain for itself funds or the Common Stock resulting from any vesting of this award to satisfy any obligation or debt that you owe to the Firm. Notwithstanding any account agreement with the Firm to the contrary, the Firm will not recoup or recover any amount owed from any funds or unrestricted securities held in your name and maintained at the Firm pursuant to such account agreement to satisfy any obligation or debt or obligation owed by you under this award without your consent. This restriction on the Firm does not apply to accounts described and authorized in “No Ownership Rights/Other Limitations” described below.
Right to Set Off sub-section below for details. If the Account has a negative balance for ninety (90) calendar days or more it will be closed.
Examples of Right to Set Off in a sentence
See the "No Overdrafts" and "Our Right to Set Off" paragraphs below for more information about what could occur if the Varo Bank Account has a negative balance.
See the "No Overdrafts" and "Right to Set Off" sections below for more information about what could occur if your Account has a negative balance.
By accepting this award, you acknowledge that during such specified period should there be a determination that the cancellation or recovery provisions of this award apply, then you agree that any shares subject to such restrictions (notwithstanding the limitation set forth in the Right to Set Off section above) may be cancelled in whole or part.
See Section 2(F) (No Overdrafts) and Section 2(G) (Right to Set Off) below for more information about what could occur if your Account has a negative balance.
Right to Set Off: The Firm may, to the maximum extent permitted by applicable law (including Section 409A of the Code), retain for itself funds or the Common Stock resulting from any vesting of this award to satisfy any obligation or debt that you owe to the Firm.
More Definitions of Right to Set Off
Right to Set Off and “No Overdrafts” for more information about your rights and responsibilities when your CRB Account has a negative balance, and the “Fee-Free Overdraft” section below for more information about what could occur if your CRB Account has a negative balance, for customers who are participating in the Current Fee-Free Overdraft program. If you make a deposit and (a) the sending bank returns it to us unpaid; (b) the sending bank demands that we repay them because the deposit was unauthorized; or (c) the sending bank or the originator of a transfer demands that we return the item because it was unauthorized, sent to the wrong account number or procured by fraud, we may pay the return or demand, and subtract the funds from your balance. If we have reason to believe that any of the events in the previous sentence has occurred or may occur or that the item should not have been paid or may not be paid for any other reason, we may place a hold on the funds or move them to a bank-managed administrative account until we determine who is entitled to them. If you make a deposit, we may provide a confirmation of your deposit, but the amount on your deposit confirmation may not reflect the amount of funds we actually receive. We may confirm the funds you deposit and, after review, may adjust your CRB Account for any errors including any errors on your deposit request or similar records. If we give you a confirmation for a deposit that you then cancel, the confirmation is void and you may not claim those funds. We may refuse a deposit, or part of a deposit, at any time. We also may refuse a deposit after initially accepting it. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made. We have the right to forward all deposited items to correspondents including all Federal Reserve Banks, and we will not be liable for default or neglect of any correspondents for loss in transit, and no correspondent will be liable except for its own negligence. You specifically authorize us or our correspondents including the Federal Reserve Banks to handle such items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board. In the event we are subject to local clearinghouse rules, you specifically authorize us to handle such items in accordance with the rules and regulations of the clearinghouse.
Right to Set Off sub-section below for additional details on negative balances.
Right to Set Off has the meaning specified in Clause 11.2.3.
Right to Set Off means, subject to the terms and conditions set forth in this Agreement, the right of any Set Off Right Holder (as defined in Section 2.2) to set off against any unpaid amount due from the Sellers pursuant to ARTICLE X, certain amounts due or which may become due to the Sellers under Section 2.1.4.
Right to Set Off for details. If your Account has a negative balance for seventy-five (75) days or more it may, in our sole discretion, be closed. Notwithstanding anything to the contrary herein, closure of your Account does not absolve you of any amounts owed to us.
Right to Set Off for more information about what could occur if your Account has a negative balance.
Right to Set Off. Any amounts (including credits) owed by SI to the Province under this Agreement, which are not paid when due, but excluding amounts in dispute under the provisions hereof or thereof, may be set-off by the Province against Fees, Expenses and other charges payable by the Province to SI under this Agreement, or may be deducted from any sum due or which at any time may become due to SI under this Agreement