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Clawback clause
A clause enabling one party to retrieve money already paid out.
An example is the clause found in syndicated loan agreements enabling an agent to recover money already paid out by it to a party, wrongly believing that the agent had received the corresponding payment from another party.
This allows an agent to distribute money (e.g. repayment instalment) to the bank syndicate without confirming receipt of the payment from the borrower, knowing if it does not receive the monies from the borrower it may "clawback" the monies paid out to the syndicate.
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