Consolidation and Set-Off of Accounts. In addition to any lien, right of set-off or other right which the Bank may have, the Bank shall be entitled at any time and without notice to the Borrower, to combine or consolidate all or any of the accounts of the Borrower, including any accounts of the Borrower, whether alone or jointly with any other person or under whatever style name or form (whether current, deposit, savings or of any other nature whatsoever and whether in Singapore Dollars or other currency) wheresoever situate (in Singapore or elsewhere) and set-off or transfer any sum standing to the credit of any one or more of such accounts in or towards satisfaction of any moneys, obligations and liabilities of the Borrower, whether alone or jointly with any person or in any respect whatsoever whether in Singapore or elsewhere and whether such liabilities be present future actual contingent primary collateral several or joint notwithstanding that such moneys, obligations and liabilities may not be expressed in the same currency and where such liabilities are contingent, the Bank shall be entitled to set aside such amounts to keep the Bank in funds for fully meeting and discharging such liabilities. Where such combination, set-off or transfer requires the conversion of one currency into another, the Bank is hereby authorised to effect such conversion at the Bank’s own rate of exchange then prevailing. If any of the accounts in credit are expressed in quantities of gold, silver or other precious metals or are in a currency other than the currency of the liabilities, the Bank may convert them to cash in the currency of the liabilities at the Bank’s own rate for their purchase or exchange then prevailing (as conclusively determined by the Bank) on the date of set off or transfer.
Consolidation and Set-Off of Accounts. In addition to any lien, right of set-off or other right which we may have, we shall be entitled at any time and without notice to you to combine or consolidate all or any of your accounts, whether alone or jointly or jointly with any other person or under whatever style name or form wheresoever situate and to set-off or transfer any sum standing to the credit of any one or more of such accounts in or towards satisfaction of any moneys, obligations and liabilities of yours, whether alone or jointly or jointly with any person whether in Singapore or elsewhere and whether such liabilities be present future actual contingent primary collateral several or joint notwithstanding that such moneys, obligations and liabilities may not be expressed in the same currency. If any of the accounts in credit are expressed in quantities of gold, silver or other precious metal or are in a currency other than the currency of the liabilities, we may convert them to cash in the currency of the liabilities at our own rate for our purchase or exchange then prevailing (as conclusively determined by us at our absolute discretion) on the date of set-off or transfer.
