Common use of ALL PAYMENTS RECEIVED TO BE PAYMENT IN GROSS Clause in Contracts

ALL PAYMENTS RECEIVED TO BE PAYMENT IN GROSS. All monies received by the Bank from any person or estate capable of being applied in reduction of the Secured Amounts shall be regarded for all purpose as payments in gross and if a receiving order shall be made against any person liable to the Bank, the Bank may prove for the whole of the monies then owing and no money received under such proof shall be considered as having been received and the full amount owing shall be payable until the Bank has received from all sources one hundred cent in the Ringgit Malaysia and if the amount ultimately received by the Bank exceeds the amount of the ultimate balance owing to the Bank the excess only over such ultimate balance shall be repaid to the person or party on whose account the same shall have been received by the Bank.

ALL PAYMENTS RECEIVED TO BE PAYMENT IN GROSS. All monies moneys received by the Bank from any person or estate capable of being applied in reduction of the Secured Amounts Indebtedness shall be regarded for all purpose as payments in gross and if a receiving order shall be made against any person liable to the Bank, the Bank may prove for the whole of the monies moneys then owing and no money received under such proof shall be considered as having been received and the full amount owing shall be payable until the Bank has received from all sources one hundred cent in the Ringgit Malaysia and if the amount ultimately received by the Bank exceeds the amount of the ultimate balance owing to the Bank the excess only over such ultimate balance shall be repaid to the person or party on whose account the same shall have been received by the Bank.