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Template:Nutshell GMSLA 11.8: Difference between revisions
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{{gmslaprov|11.8 '''{{gmslaprov|Set- | {{gmslaprov|11.8}} '''{{gmslaprov|Set-off}} ''' Any amount payable to one Party by the other under {{gmslaprov|11.2(b)}} may, at the {{gmslaprov|Non Defaulting Party}}’s option, be set off against any amount payable the other way round under any other agreement or instrument between the parties. | ||
If an obligation is unascertained, the {{gmslaprov|Non Defaulting Party}} estimate it but must account to the other Party when the obligation is ascertained. | If an obligation is unascertained, the {{gmslaprov|Non Defaulting Party}} estimate it but must account to the other Party when the obligation is ascertained. | ||
This paragraph does not create a security interest, and does not prejudice any other rights which either party may have. | This paragraph does not create a security interest, and does not prejudice any other rights which either party may have. | ||