Offsets and Deductions Clause Samples
The "Offsets and Deductions" clause allows one party to reduce amounts owed to the other by subtracting any amounts that the other party owes them. In practice, this means if Party A owes Party B $1,000, but Party B also owes Party A $200, Party A can pay only $800, accounting for the offset. This clause ensures that mutual debts are settled efficiently and prevents the need for multiple payments or legal actions to recover smaller amounts, streamlining the settlement of obligations between the parties.
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Offsets and Deductions. Owner may deduct from the Final Payment all sums due from Contractor. If the Certificate of Final Completion notes any Work remaining, incomplete, or defects not remedied, Owner may deduct the cost of remedying such deficiencies from the Final Payment. On such deductions, Owner will identify each deduction, the amount, and the explanation of the deduction on or by the twenty-first (21st) day after Owner’s receipt of an approved Application for Final Payment. Such offsets and deductions shall be incorporated via a final Change Order, including a ULCO as may be applicable.
Offsets and Deductions. LIBERTY may offset and deduct from any amounts due to Dental Office any amounts owed by Dental Office, including, but not limited to: (i) any overpayment or error in payment made to Dental Office by LIBERTY, and (ii) any amounts necessary to resolve a Member complaint or grievance, as determined by LIBERTY’s Dental Director or designee. Any offsets and/or deductions shall be made by LIBERTY in accordance with applicable laws and/or LIBERTY’S policies and procedures.
Offsets and Deductions. Notwithstanding the generality of any other provision of this Agreement, the Purchaser may not unilaterally or automatically make any offsets or deductions against or from the Promissory Notes for any reason, except as provided by Section 4.11 and in one of the Promissory Notes. Any other offsets or deductions shall be determined utilizing the procedure set out in Section 8.6 (in the case of indemnity), or the entry of a final non-appealable judgment, in accordance with Section 11.7, for all other matters, unless otherwise agreed by the Parties in writing.
Offsets and Deductions. Owner may deduct from the Final Payment all sums due from Contractor. If the Certificate of Final Completion notes any Work remaining, incomplete, or defects not remedied, Owner may deduct the cost of remedying such deficiencies from the Final Payment. On such deductions, Owner will identify each deduction, the amount, and the explanation of the deduction on or by the twenty-first (21st) day after Owner’s receipt of an approved Application for Final Payment. Such offsets and deductions shall be incorporated via a final Change Order, including a CCD as may be applicable.
Offsets and Deductions. All payments under the Note shall be made by Borrowers without any offset, decrease, reduction or deduction of any kind or nature whatsoever, including, but not limited to, any decrease, reduction or deduction for, or on account of, any offset, withholdings, present or future taxes, present or future reserves, imposts or duties of any kind or nature, unless a deduction is required by law.
Offsets and Deductions. The Owner may deduct from the Final Payment all sums due from the CM-at-Risk. If the Certificate of Final Completion notes any Work remaining, incomplete, or defects not remedied, the Owner may deduct the cost of remedying such deficiencies from the Final Payment. On such deductions, the Owner will identify each deduction, the amount, and the explanation of the deduction on or by the 21st day after Owner's receipt of an approved Application for Final Payment. Such offsets and deductions shall be incorporated via a final Change Order, including Unilateral Change Order as may be applicable.
Offsets and Deductions. ODR may deduct from the Final Payment all sums due from Contractor. If the Certificate of Final Completion notes any Work remaining, incomplete, or defects not remedied, ODR may deduct the cost of remedying such deficiencies from the Final Payment. On such deductions, ODR will identify each deduction, the amount, and the explanation of the deduction on or by the twenty-first (21st) day after ODR’s receipt of an approved Application for Final Payment. Such offsets and deductions shall be incorporated via a final Change Order, including a ULCO as may be applicable.