Recoupment and Failure of Consideration Sample Clauses

The Recoupment and Failure of Consideration clause allows a party to withhold or recover payments if the other party fails to deliver the agreed goods, services, or benefits under a contract. In practice, this means that if one side does not fulfill its obligations, the other can offset amounts owed or seek reimbursement for payments already made. This clause serves to protect parties from financial loss due to non-performance, ensuring that payment is only made for actual, delivered consideration.
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Recoupment and Failure of Consideration. If either party to this Assumption Agreement fails to perform this Assumption Agreement in full, then the other party has the right to suspend performance, and if the defaults cannot be cured, within one hundred and twenty (120) days following delivery of written notice from the non-defaulting party to the defaulting party, to terminate this Assumption Agreement. Alternatively, the non-defaulting party can recoup damages (including, without limitation, the amount owned plus interest from the date owed and calculated at the Chase Bank prime rate plus two points) from future settlements between the parties.
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Recoupment and Failure of Consideration. If either party of the Agreement fails to perform this Agreement in full, then the other party has the right to suspend performance, and if the defaults cannot be cured, within 90 days following delivery of written notice from the non-defaulting party to the defaulting party, to terminate the Agreement. (Restatement Second of Contracts Section 237, Section 238). Alternatively, the non-defaulting party can recoup damages from future quarterly settlements.
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Related to Recoupment and Failure of Consideration

  • Adequacy of Consideration Executive acknowledges and agrees that Executive has received adequate consideration from United HealthCare to enter into this Agreement.

  • MEMO OF CONSIDERATION RECEIVED on the day month and year first above written of and from the within named Purchasers the within mentioned sum of Rs. /- (Rupees only)paid as and by way of full consideration in terms of these presents. 1 By cheque no. dated 2 By cheque no. dated 3 By cheque no. dated 4 By cheque no. dated 5 By cheque no. dated 6 TDS ( ) 7 By cheque no. dated TOTAL (RUPEES ONLY) 1. (OWNERS)

  • Amendment and Waiver; Failure or Indulgence Not Waiver No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Business Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.

  • Reduction of Consideration Contractor agrees that County shall have the right to deduct from any payments contracted for under this Contract any amount owed to County by Contractor as a result of any obligation arising prior or subsequent to the execution of this contract. For purposes of this paragraph, obligations arising prior to the execution of this contract may include, but are not limited to any property tax, secured or unsecured, which tax is in arrears. If County exercises the right to reduce the consideration specified in this Contract, County shall give Contractor notice of the amount of any off-set and the reason for the deduction.

  • No Additional Waiver Implied by One Waiver In the event any agreement contained in this Facilities Lease should be breached by either party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder.