No Netting Clause Samples

The No Netting clause prohibits the offsetting of mutual obligations between parties, meaning that each party must fulfill its payment or delivery obligations in full without deducting amounts owed to or by the other party. In practice, this means that if both parties owe each other money or goods, each must perform their respective obligations independently, rather than combining or netting the amounts to determine a single balance. This clause ensures that all contractual obligations are met as agreed, preventing parties from unilaterally reducing their liabilities and thereby maintaining clear and separate accounting of each obligation.
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No Netting. There shall be no netting of the amounts due herein against any other amount owed by one Party to the other.
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No Netting. Except in the event of a payment default by the other Party, neither Party may net amounts owed to it under this Agreement against amounts owed under any other agreements among the Parties.
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No Netting. Notwithstanding Section 2(c) of this Agreement, in no event shall either Party A or Party B be entitled to net its payment obligations in respect of the Insured Transactions against the payment obligations of the other party in respect of other Transactions under this Agreement if such Transactions are not Insured Transactions, nor may either Party A or Party B net the payment obligations of the other party under Transactions that are not Insured Transactions against the payment obligations of such party under Insured Transactions, it being the intention of the parties that their payment obligations under Insured Transactions be treated separate and apart from all other Transactions. Section 6(e) of this Agreement shall apply to all Insured Transactions with the same effect as if the Insured Transactions constituted a single master agreement. Notwithstanding Section 6(e) of this Agreement, the amount payable under Section 6(e) of this Agreement upon the termination of any Insured Transaction shall be determined without regard to any Transactions other than the Insured Transactions, it being the intention of the parties that their payment obligations under the Insured Transactions be treated separate and apart from all other Transactions unless otherwise specified in such other Transaction and agreed to in writing by MBIA.
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No Netting. The Discount will be computed free and clear of any and all Taxes, set offs, costs or expenses of every kind and nature whatsoever incurred, including any Liabilities, losses, claims, and Taxes.
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No Netting. For the avoidance of doubt, the Revenue Sharing Payment shall be paid free and clear of any and all Taxes, costs or expenses of every kind and nature whatsoever incurred, including, but not limited to, maintaining, renewing and extending, exploring, drilling, re-completing, side-tracking, producing, co-mingling of w▇▇▇▇ and reservoirs, and processing, treatment and compressing and operating costs of the Concessions and any Petroleum Substances, Liabilities, Losses, Claims, and Taxes.
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No Netting. The Purchaser shall not be entitled to 5.8.1 set-off any rights and claims it may have against a Seller or ▇▇ ▇▇▇▇▇▇▇▇ against any rights or claims which the relevant Seller or ▇▇ ▇▇▇▇▇▇▇▇ may have under or in connection with this Agreement or otherwise, or 5.8.2 refuse to perform any obligation it may have under or in connection with this Agreement on the grounds that it has a right of retention (Zurückbehaltungsrecht), unless the underlying rights or claims of the Purchaser have been acknowledged in writing by the relevant Seller ▇▇ ▇▇▇▇▇▇▇▇ or have been confirmed by final decision of a competent court (Gericht) or arbitration panel (Schiedsgericht).
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No Netting. The Purchaser is not entitled to a) set-off any rights and claims it may have against the Seller, TRUMPF or any Affiliate of TRUMPF against any rights or claims which the Seller, TRUMPF or any Affiliate of TRUMPF may have under or in connection with this Agreement or otherwise, or b) refuse to perform any obligation it may have under or in connection with this Agreement on the grounds that it has a right of retention (Zurückbehaltungsrecht), unless the rights or claims of the Purchaser have been acknowledged in writing by the Seller or have been confirmed by final decision of a competent court (Gericht) or a competent arbitration panel (Schiedsgericht).
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No Netting. 3.7.1 The Purchaser shall not be entitled to (i) set-off any rights and claims it may have against a Seller or an Affiliate of a Seller against any rights or claims which the relevant Seller or Affiliate may have under or in connection with this Agreement or otherwise, or (ii) refuse to perform any obligation it may have under or in connection with this Agreement on the grounds that it has a right of retention (Zurückbehaltungsrecht) (except with respect to the action to be taken simultaneously at the Closing as per Clause 8.2), unless the underlying rights or claims of the Purchaser have been acknowledged in writing by the relevant Seller or have been confirmed by final decision of a competent court (Gericht) or arbitration panel (Schiedsgericht). 3.7.2 None of the Sellers shall be entitled to (i) set-off any rights and claims it may have against the Purchaser or the Guarantor or any of their Affiliates against any rights or claims which the Purchaser, the Guarantor or their relevant Affiliate may have under or in connection with this Agreement or otherwise, or (ii) refuse to perform any obligation it may have under or in connection with this Agreement on the grounds that it has a right of retention (Zurückbehaltungsrecht) — except for the obligation to transfer the Shares under Clause 2.2, where Sellers shall have such right of retention —, unless the underlying rights or claims of the relevant Seller have been acknowledged in writing by the Purchaser or the guarantor (as the case may be) or have been confirmed by final decision of a competent court (Gericht) or arbitration panel (Schiedsgericht).
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Related to No Netting

  • NO CONTRACTING OUT 12.01 The Nursing Home shall not contract-out any work usually performed by members of the bargaining unit if, as a result of such contracting-out, a lay-off of any employees other than casual part-time employees results from such contracting-out. Contracting-out to an Employer who is organized and who will employ the employees of the bargaining unit who would otherwise be laid-off with similar terms and conditions of employment is not a breach of this Agreement.

  • No Usury Borrower and Lender intend at all times to comply with applicable state law or applicable United States federal law (to the extent that it permits Lender to contract for, charge, take, reserve or receive a greater amount of interest than under state law) and that this Section 10.17 shall control every other agreement in the Loan Documents. If the applicable law (state or federal) is ever judicially interpreted so as to render usurious any amount called for under the Note or any other Loan Document, or contracted for, charged, taken, reserved or received with respect to the Debt, or if Lender’s exercise of the option to accelerate the maturity of the Loan or any prepayment by Borrower results in Borrower having paid any interest in excess of that permitted by applicable law, then it is Borrower’s and Lender’s express intent that all excess amounts theretofore collected by Lender shall be credited against the unpaid Principal and all other Debt (or, if the Debt has been or would thereby be paid in full, refunded to Borrower), and the provisions of the Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with applicable law, but so as to permit the recovery of the fullest amount otherwise called for thereunder. All sums paid or agreed to be paid to Lender for the use, forbearance or detention of the Loan shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of the Loan until payment in full so that the rate or amount of interest on account of the Debt does not exceed the maximum lawful rate from time to time in effect and applicable to the Debt for so long as the Debt is outstanding. Notwithstanding anything to the contrary contained in any Loan Document, it is not the intention of Lender to accelerate the maturity of any interest that has not accrued at the time of such acceleration or to collect unearned interest at the time of such acceleration.

  • No ▇▇▇▇▇▇ Nothing in this document in any way restricts or otherwise affects the City’s unfettered discretion to exercise its statutory powers as a public authority.

  • No Frustration The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company to perform its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation of the Company to deliver the Shares to the Investor in respect of an Advance Notice.

  • No Pyramiding Compensation shall not be paid more than once for the same hours under any provision of this Article or Agreement.