No Netting or Set-off Sample Clauses

The "No Netting or Set-off" clause prohibits either party from combining or offsetting amounts owed to each other under the contract. In practice, this means that if one party owes money to the other, they must pay the full amount due without deducting any sums that the other party might owe them under the same or a different agreement. This clause ensures that payment obligations remain clear and separate, preventing disputes over deductions and maintaining straightforward financial transactions between the parties.
No Netting or Set-off. The provisions of Section 2(c) of the Agreement shall not apply to the Transaction. Each party waives any and all rights it may have to set-off delivery or payment obligations it owes to the other party under the Transaction against any delivery or payment obligations owed to it by the other party under any other agreement between the parties hereto, by operation of law or otherwise.
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Related to No Netting or Set-off

  • No Collateral or Setoff Notwithstanding Section 6(f) or any other provision of the Agreement or any other agreement between the parties to the contrary, the obligations of Counterparty hereunder are not secured by any collateral. Obligations in respect of this Transaction shall not be set off against any other obligations of the parties, whether arising under the Agreement, under any other agreement between the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be set off against obligations in respect of this Transaction, whether arising under the Agreement, under any other agreement between the parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff.