Payment of Currency and Setoff Sample Clauses

The Payment of Currency and Setoff clause establishes the rules for the currency in which payments must be made and the rights of parties to offset mutual debts. Typically, it specifies that payments should be made in a designated currency, and if obligations exist in different currencies, it may outline procedures for currency conversion. Additionally, the clause allows a party to deduct amounts owed to them from amounts they owe to the other party, streamlining the settlement process. Its core function is to ensure clarity in payment obligations and to facilitate efficient resolution of mutual debts, reducing administrative complexity and minimizing payment disputes.
Payment of Currency and Setoff. All payments by the Sellers or the Servicer to any Affected Party or any other Person shall be made in U.S. Dollars and without set-off or counterclaim. Any of the Sellers’ or the Servicer’s obligations hereunder shall not be satisfied by any tender or recovery of another currency except to the extent such tender or recovery results in receipt of the full amount of U.S. Dollars.
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Payment of Currency and Setoff. All payments by Seller or Servicer to any Affected Party or any other Person shall be made in USD and without set-off or counterclaim. Any of Seller’s or Servicer’s obligations hereunder shall not be satisfied by any tender or recovery of another currency except to the extent such tender or recovery results in receipt of the full amount of USD.
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Payment of Currency and Setoff. All payments by any ADT Entity or the Servicer to any Affected Person or any other Person in connection with the Transaction Documents shall be made in U.S. Dollars and without set-off or counterclaim, except, for the avoidance of doubt, any netting expressly permitted herein. Any ADT Entity’s obligations hereunder shall not be satisfied by any tender or recovery of another currency except to the extent such tender or recovery results in receipt of the full amount of U.S. Dollars.
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Payment of Currency and Setoff. ALL PAYMENTS BY ANY ADT ENTITY OR THE SERVICER TO ANY AFFECTED PARTY OR ANY OTHER PERSON IN CONNECTION WITH THE TRANSACTION DOCUMENTS SHALL BE MADE IN U.S. DOLLARS AND WITHOUT SET-OFF OR COUNTERCLAIM, EXCEPT, FOR THE AVOIDANCE OF DOUBT, ANY NETTING EXPRESSLY PERMITTED HEREIN. ANY ADT ENTITY’S OBLIGATIONS HEREUNDER SHALL NOT BE SATISFIED BY ANY TENDER OR RECOVERY OF ANOTHER CURRENCY EXCEPT TO THE EXTENT SUCH TENDER OR RECOVERY RESULTS IN RECEIPT OF THE FULL AMOUNT OF U.S. DOLLARS.
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Related to Payment of Currency and Setoff

  • Currency and amount (a) The currency specified in a Utilisation Request must be dollars. (b) The amount of the proposed Loan must be an amount which is not more than the Available Facility and which is a minimum of ten million dollars ($10,000,000) or, if less, the Available Facility.

  • Currency and Funds of Payment All Guarantors’ Obligations for payment will be paid in lawful currency of the United States of America and in immediately available funds, regardless of any law, regulation or decree now or hereafter in effect that might in any manner affect the Guaranteed Liabilities, or the rights of any Secured Party with respect thereto as against the Borrower or any other Loan Party, or cause or permit to be invoked any alteration in the time, amount or manner of payment by the Borrower or any other Loan Party of any or all of the Guaranteed Liabilities.

  • Currency and Related Risks The Fund bears the risks of holding or transacting in any currency, including any ▇▇▇▇ to market exposure associated with a foreign exchange transaction undertaken with the Custodian. The Custodian shall not be liable for any loss or damage arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, which may delay or affect the transferability, convertibility or availability of any currency in the country (a) in which such Principal or Agency Accounts are maintained or (b) in which such currency is issued, and in no event shall the Custodian be obligated to make payment of a deposit denominated in a currency during the period during which its transferability, convertibility or availability has been affected by any such law, regulation or event. Without limiting the generality of the foregoing, neither the Custodian nor any Subcustodian shall be required to repay any deposit made at a foreign branch of either the Custodian or Subcustodian if such branch cannot repay the deposit due to a cause for which the Custodian would not be responsible in accordance with the terms of Section 9 of this Agreement unless the Custodian or such Subcustodian expressly agrees in writing to repay the deposit under such circumstances. All currency transactions in any account opened pursuant to this Agreement are subject to exchange control regulations of the United States and of the country where such currency is the lawful currency or where the account is maintained. Any taxes, costs, charges or fees imposed on the convertibility of a currency held by the Fund shall be for the account of the Fund.

  • Substitution of Currency If a change in any Committed Currency occurs pursuant to any applicable law, rule or regulation of any governmental, monetary or multi-national authority, this Agreement (including, without limitation, the definition of Eurocurrency Rate) will be amended to the extent determined by the Agent (acting reasonably and in consultation with the Company) to be necessary to reflect the change in currency and to put the Lenders and the Borrowers in the same position, so far as possible, that they would have been in if no change in such Committed Currency had occurred.

  • Blocked Currency In each country where the local currency is blocked and cannot be removed from the country, royalties or profit share payments accrued in that country shall be paid to the receiving Party in the country in local currency by deposit in a local bank designated by the receiving Party, unless the Parties otherwise agree.