Common use of LIEN AND RIGHT OF SET-OFF Clause in Contracts

LIEN AND RIGHT OF SET-OFF. Any Custody Property which are now or may at any time hereafter be in the Bank’s possession or control or held by the Bank or the Nominee as custodian for the Customer or to the Customer’s order or deposited or lodged with the Bank or any other branch office of the Royal Bank of Canada wherever situated in the world or the Bank’s agents or representatives or correspondents or transferred to the Bank or the Nominees by the Customer or by others in the Customer’s name or for the Customer’s account for the purposes of the safe custody Services hereunder, shall be subject to the Bank’s rights of retention, charge, lien and set-off, and right of sale as set out in Clause 17 of Part I of these General Terms, and may also be subject to other similar rights or security interests of the Bank under any other Agreement between the Bank and the Customer or granted by the Customer or Security Provider in favour of the Bank. The Customer agrees and acknowledges that any Nominee, and any other nominee, sub-custodian or agent of the Bank or the Nominee, may also claim a lien or security interest over any property of the Customer held by it. The lien shall constitute a continuing security for the due payment and satisfaction and discharge all of the Customer’s Indebtedness to the Bank whensoever incurred. Any Custody Property held by the Bank as custodian shall be subject to the Bank’s rights of charge, lien and set-off as set out in any Agreement, and may also be subject to other similar rights or security interests of the Bank under other agreements between the Bank and the Customer. The Customer agrees and acknowledges that the Bank’s Nominee, and any other nominee, sub-custodian or agent of the Bank or the Nominee, may also claim a lien or security interest over any Custody Property held by it.

LIEN AND RIGHT OF SET-OFF. Any Custody Property which are now or may at any time hereafter be in the Bank’s possession or control or held by the Bank or the Nominee as custodian for the Customer or to the Customer’s order or deposited or lodged with the Bank or any other branch office of the Royal Bank of Canada wherever situated in the world or the Bank’s agents or representatives or correspondents or transferred to the Bank or the Nominees by the Customer or by others in the Customer’s name or for the Customer’s account for the purposes of the safe custody Services hereunder, shall be subject to the Bank’s rights of retention, charge, lien and set-off, and right of sale as set out in Clause 17 of Part I of these General Terms, and may also be subject to other similar rights or security interests of the Bank under any other Agreement between the Bank and the Customer or granted by the Customer or Security Provider in favour of the Bank. The Customer agrees and acknowledges that any Nominee, and any other nominee, sub-custodian or agent of the Bank or the Nominee, may also claim a lien or security interest over any property of the Customer held by it. The lien shall constitute a continuing security for the due payment and satisfaction and discharge all of the Customer’s Indebtedness to the Bank whensoever incurred. Any Custody Property held by the Bank as custodian shall be subject to the Bank’s rights of charge, lien and lien, set-off or any other Security as set out in any Agreement, and may also be subject to other similar rights or security interests of the Bank under other agreements between the Bank and the Customer. The Customer agrees and acknowledges that the Bank’s Nominee, and any other nominee, sub-sub- custodian or agent of the Bank or the Nominee, may also claim a lien or security interest over any Custody Property held by it.