Common use of Bank’s Right Over Securities; Set-off Clause in Contracts

Bank’s Right Over Securities; Set-off. (a) Customer grants Bank a security interest in and a lien on the Financial Assets held in the Securities Account as security for any and all amounts which are now or become owing to Bank under any provision of this Agreement. (b) Without prejudice to Bank’s rights under Applicable Law, Bank may, after notice has been given to Customer to satisfy any indebtedness, set off against any indebtedness any amount in any currency standing to the credit of any of Customer’s accounts (whether deposit or otherwise) with any Bank branch or office or with any Affiliate of Bank. For this purpose, Bank shall be entitled, to the extent necessary to satisfy any indebtedness, to accelerate the maturity of any fixed term deposits and to effect such currency conversions at its current rates for the sale and purchase of the relevant currencies.

Bank’s Right Over Securities; Set-off. (a) Customer grants Bank a security interest in and a lien on the Financial Assets held in the Securities Account as security for any and all amounts which are now or become owing to Bank under any provision of this Agreement. (b) Without prejudice to Bank’s 's rights under Applicable Law, Bank may, after notice has been given to Customer to satisfy any indebtedness, set off against any indebtedness any amount in any currency standing to the credit of any of Customer’s 's accounts (whether deposit or otherwise) with any Bank branch or office or with any Affiliate of Bank. For this purpose, Bank shall be entitled, to the extent necessary to satisfy any indebtedness, to accelerate the maturity of any fixed term deposits and to effect such currency conversions at its current rates for the sale and purchase of the relevant currencies.

Bank’s Right Over Securities; Set-off. (a) Customer grants Bank a security interest in and a lien on the Financial Assets held in the Securities Account as security for any and all amounts which are now or become owing to Bank under any provision of this Agreement. (b) Without prejudice to Bank’s rights under Applicable Law, Bank may, after notice has been given to Customer to satisfy any indebtedness, set off against any indebtedness any amount in any currency standing to the credit of any of Customer’s accounts (whether deposit or otherwise) with any Bank branch or office or with any Affiliate of Bank. For this purpose, Bank shall be entitled, to the extent necessary to satisfy any indebtedness, to accelerate the maturity of any fixed term deposits and to effect such currency conversions at its current rates for the sale and purchase of the relevant currencies.. Investment Company Rider to Global Custody Agreement

Bank’s Right Over Securities; Set-off. (a) Customer grants and Fund grant Bank a security interest in and a lien on the Financial Assets held in the Securities Account as security for any and all amounts which are now or become owing to Bank under any provision of this Agreement, whether or not matured or contingent (“Indebtedness”). (b) Without prejudice to Bank’s rights under Applicable Law, Bank may, after notice has been given to Customer to satisfy any indebtedness, may set off against any indebtedness Indebtedness any amount in any currency standing to the credit of any of Customer’s or Fund’s accounts (whether deposit or otherwise) with any Bank branch or office or with any Affiliate of Bank. For this purpose, Bank shall be entitled, to the extent necessary to satisfy any indebtedness, entitled to accelerate the maturity of any fixed term deposits and to effect such currency conversions as may be necessary at its current rates for the sale and purchase of the relevant currencies.