Common use of Set-Off; Recoupment Clause in Contracts

Set-Off; Recoupment. In addition to any right of setoff or recoupment permitted by law or this Order, all amounts due Seller shall be considered net of indebtedness or obligations of Seller to Constellium. Constellium may set off against or recoup from any amounts due or to become due from Seller, any amounts due to Constellium however and whenever arising. If an obligation of Seller to Constellium is disputed, contingent or unliquidated, Constellium may defer payment of all or a portion of the amount due to Seller until such obligation is resolved. Further, in the event Constellium reasonably feels itself at risk, Constellium may withhold and recoup a corresponding amount due Seller to protect against such risk. For purposes of this Section only, the terms “Constellium” and “Seller” shall include their parent companies, subsidiaries, brother/sister companies and affiliates.

Set-Off; Recoupment. In addition to any right of setoff or recoupment permitted by law or this Order, all amounts due Seller shall be considered net of indebtedness or obligations of Seller to Constellium. Constellium may set off against or recoup from any amounts due or to become due from Seller, any amounts due to Constellium however and whenever arising. If an obligation of Seller to Constellium is disputed, contingent or unliquidated, Constellium may defer payment of all or a portion of the amount due to Seller until such obligation is resolved. Further, in the event Constellium reasonably feels itself at risk, Constellium may withhold and recoup a corresponding amount due Seller to protect against such risk. For purposes of this Section only, the terms “Constellium” and “Seller” shall include their parent companies, subsidiaries, brother/sister companies and affiliates.