Netting of Claims Clause Samples

The Netting of Claims clause allows parties to offset mutual obligations, so that only the net balance is payable between them. In practice, if both parties owe each other money under a contract, instead of making separate payments, the amounts are compared and only the difference is paid by the party who owes more. This mechanism streamlines financial settlements, reduces administrative burden, and minimizes credit risk by ensuring that only the net amount is exchanged.
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Netting of Claims. If an Event of Default exists, Administrative Agent, Lenders and Swap Counterparties, or any of them, may, without further notice to Borrower, setoff (a) any amount then due and owing by Borrower to Swap Counterparty under the Swap Agreement or to Administrative Agent or Lenders under any other Loan Document, as applicable, against (b) any amounts due and owing to Borrower or any other Obligor by Swap Counterparty under or in respect of the Swap Agreement or by Administrative Agent or Lenders under or in respect of any other Loan Document, as applicable, without regard (in the case of the preceding clause (b)) to whether such amounts arise by set off, offset, combination of accounts, deduction, retention, counterclaim or withholding. If an amount is unascertainable, Administrative Agent, Lenders and Swap Counterparty, or any of them, may, acting in a commercially reasonable matter, setoff an estimated amount and account to Borrower when the amount is ascertained.
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Netting of Claims. If an Event of Default exists, Administrative Agent, Lenders, or any of them, may, without further notice to Borrower, setoff (a) any amount then due and owing by Borrower to Administrative Agent or Lenders under any other Loan Document, as applicable, against (b) any amounts due and owing to Borrower or any other Obligor or by Administrative Agent or Lenders under or in respect of any other Loan Document, as applicable, without regard (in the case of the preceding clause (b)) to whether such amounts arise by set off, offset, combination of accounts, deduction, retention, counterclaim or withholding. If an amount is unascertainable, Administrative Agent and Lenders, or any of them, may, acting in a commercially reasonable matter, setoff an estimated amount and account to Borrower when the amount is ascertained.
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Netting of Claims. GEL may, without further notice to Lazarus, setoff (a) any amount then due and owing by Lazarus to GEL, or any Affiliate of GEL, under any of the Contract Documents, as applicable, other than those amounts due and owing that will be paid pursuant to the Allowable Payments as provided in Exhibit B, against (b) any amounts due and owing to Lazarus under any of the Contract Documents without regard (in the case of the preceding clause (b)) to whether such amounts arise by setoff, offset, combination of accounts, deduction, retention, counterclaim or withholding. If an amount is unascertainable, GEL may, acting in a commercially reasonable matter, setoff an estimated amount and account to Lazarus when the amount is ascertained.
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Netting of Claims. All indemnification claims shall be net of any insurance proceeds or payments from any other responsible parties (in both cases net of recovery costs), as well as of the corresponding actual realizable tax benefit.
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Netting of Claims. 31 8.10. Claims Period...................................................31 8.11. Rejected Settlement of Claims...................................31 8.12. Limitation of Indemnification Obligations.......................31
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Related to Netting of Claims

  • Reporting of Claims Consultant shall report to the City, in addition to Consultant’s insurer, any and all insurance claims submitted by Consultant in connection with the Services under this Agreement.

  • Payment of Claims A. If advance payment of all or a portion of the Grant funds is permitted by statute or regulation, and the State agrees to provide such advance payment, advance payment shall be made only upon submission of a proper claim setting out the intended purposes of those funds. After such funds have been expended, Grantee shall provide State with a reconciliation of those expenditures. Otherwise, all payments shall be made thirty five (35) days in arrears in conformance with State fiscal policies and procedures. As required by IC § 4-13-2-14.8, all payments will be by the direct deposit by electronic funds transfer to the financial institution designated by the Grantee in writing unless a specific waiver has been obtained from the Indiana Auditor of State B. Requests for payment will be processed only upon presentation of a Claim Voucher in the form designated by the State. Such Claim Vouchers must be submitted with the budget expenditure report detailing disbursements of state, local and/or private funds by project budget line items. C. The State may require evidence furnished by the Grantee that substantial progress has been made toward completion of the Project prior to making the first payment under this Grant. All payments are subject to the State's determination that the Grantee's performance to date conforms with the Project as approved, notwithstanding any other provision of this Grant Agreement. D. Claims shall be submitted to the State within 10 calendar days following the end of the month in which work on or for the Project was performed. The State has the discretion, and reserves the right, to NOT pay any claims submitted later than 35 calendar days following the end of the month in which the services were provided. All final claims and reports must be submitted to the State within 10 calendar days after the expiration or termination of this agreement. Payment for claims submitted after that time may, at the discretion of the State, be denied. Claims may be submitted on a monthly basis only. If Grant funds have been advanced and are unexpended at the time that the final claim is submitted, all such unexpended Grant funds must be returned to the State. E. Claims must be submitted with accompanying supportive documentation as designated by the State. Claims submitted without supportive documentation will be returned to the Grantee and not processed for payment. Failure to comply with the provisions of this Grant Agreement may result in the denial of a claim for payment.

  • Filing of Claims You must file all Claims within ninety (90) days from the date services were rendered, unless it is not reasonably possible to do so. In no event may any Claim be filed later than fifteen (15) months from the date services were rendered. Claims Administrator and Participating Providers have entered into agreements that eliminate the need for a Member to personally file a Claim for Benefits. Participating Providers will file Claims for Members either by mail or electronically. In certain situations, the Provider may request the Member to file the Claim. If Your Provider does request You to file directly with the Company, the following information will help You in correctly completing the Claim form. We will, upon receipt of a notice of claim, furnish to You such forms as are usually furnished by Us for filing proofs of loss. If such forms are not furnished within fifteen (15) days after the giving of such notice, You will be deemed to have complied with the requirements of this Contract as to proof of loss upon submitting, within the time fixed in this Contract for filing proofs of loss, any affirmative written proof covering the occurrence, the character and the extent of the loss for which the claim is made. If You have any questions about any of the information in this section, You may call Your insurance agent or Our Customer Service Department at the number shown in Your ID Card. Your Blue Cross and Blue Shield of Louisiana ID Card shows the way Your name appears on the Company records. (If You have Dependent coverage, the name(s) are recorded as You wrote them on Your application card.) The ID Card also lists Your Contract number (ID #). This number is the identification to Your Membership records and should be provided to Us each time a Claim is filed. an appropriate Claim form is used the Contract number (ID #) shown on the form is identical to the number on the ID Card the patient's date of birth is listed the patient's relationship to the Subscriber is correctly stated all charges are itemized in a statement from the Provider the itemized statement from the Provider contains the Provider’s name, address and tax ID number and is attached to the Claim form the Provider includes a diagnosis code and a procedure code for each service/treatment rendered the claim is completed and signed by the Member. If You need to submit documentation to Us, please sent it to: United Concordia Dental ATTN: Claims Department P.O. Box 69441 Harrisburg, PA 17106-9441

  • Status of Claims The CONSULTANT shall give prompt written notice to the LPA any claims made for damages against the CONSULTANT resulting from Services performed under this Contract and shall be responsible for keeping the LPA currently advised as to the status of such claims. The CONSULTANT shall send notice of claims related to work under this Contract to:

  • Notification of Claims (a) Except as otherwise provided in this Agreement, a Person that may be entitled to be indemnified under this Agreement (the “Indemnified Party”), shall promptly notify the party liable for such indemnification (the “Indemnifying Party”) in writing of any pending or threatened claim, demand or circumstance that the Indemnified Party has determined has given or would reasonably be expected to give rise to a right of indemnification under this Agreement (including a pending or threatened claim or demand asserted by a third party against the Indemnified Party, such claim being a “Third Party Claim”), describing in reasonable detail the facts and circumstances with respect to the subject matter of such claim, demand or circumstance (a “Claim Notice”); provided, however, that the failure to provide such notice shall not release the Indemnifying Party from any of its obligations under this Article XI except to the extent the Indemnifying Party is prejudiced by such failure, it being understood that notices for claims in respect of a breach or inaccuracy of a representation or warranty or breach of or default under any obligation or covenant must be delivered before the expiration of any applicable survival period specified in Section 11.4(a). (b) Upon receipt of a notice of a claim for indemnity from an Indemnified Party pursuant to Section 11.5(a) with respect to any Third Party Claim, the Indemnifying Party shall have the right (but not the obligation) to assume the defense and control of any Third Party Claim upon written notice to the Indemnified Party delivered within fifteen (15) Business Days of the Indemnifying Party’s receipt of the applicable Claim Notice and, in the event that the Indemnifying Party shall assume the defense of such claim, it shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense. The Person that shall control the defense of any such Third Party Claim (the “Controlling Party”) shall select counsel, contractors and consultants of recognized standing and competence after consultation with the other party and shall take all steps reasonably necessary in the defense or settlement of such Third Party Claim. (c) The Sellers or the Buyer, as the case may be, shall, and shall cause each of its Affiliates and representatives to, reasonably cooperate with the Controlling Party in the defense of any Third Party Claim. The Indemnifying Party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; provided that (i) such settlement shall not encumber any of the assets of the Indemnified Party or contain any restriction or condition that would apply to such Indemnified Party or to the conduct of the Indemnified Party’s business, (ii) the Indemnifying Party shall pay all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement (subject to Section 11.3, if applicable), and (iii) the Indemnifying Party shall obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim.