Common use of Netting and Set-Off Clause in Contracts

Netting and Set-Off. ‌ In addition to any other right to withhold payment, we shall be entitled (but not obliged), at any time and without notice to you, to net-off and set-off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold with us or any of our Group Companies) in which you may have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to us or one of our Group Companies exceed the amount due to you, we will give you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwise. If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ 23.1 In addition to any other right to withhold payment, we shall be entitled (but not obliged), at any time and without notice to you, to net-off and set-off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold with us or any of our Group Companies) in which you may have financial interest. . 23.2 If we exercise the rights of net-off or set-off and it shows that the amounts due to us or one of our Group Companies exceed the amount due to you, we will give you notice of this and you shall immediately pay such shortfall to us. . 23.3 If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwise. . 23.4 If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ In addition to 13.1. It is agreed between us that all transactions between you and us, whether under the Account Agreement or any other agreement, shall be mutual dealings and part of a single, indivisible, contractual and business relationship notwithstanding that the relevant transactions may be governed by different documentation. 13.2. Without prejudice to our right to withhold paymentrequire payment from you in accordance with the Account Agreement, we shall be entitled (but not obliged), will have the right at any time and without notice to you, to net-off and set-set off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss Losses incurred by us or one of our Group Companies in connection with your Account or your trading activitiesactivities against: (a) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account Account (including any joint account, corporate account or other accounts account which you may hold with us or any of our Group Companiesus) in which you may have a financial interest; or (b) any funds, monies or investment of any kind which we may owe you whether under the Account Agreement or under any other contractual arrangements which you may have with us. 13.3. If You must pay such sums as necessary to set off any Loss or debit balance that exceeds the amounts held in your Account, whether we exercise the rights demand for such payment or not. You also authorise us to set off sums held by us for or to your credit in a joint account against Losses incurred by such joint account. You further authorise us to set off any Losses incurred in respect of, or any debit balances in, any account held by you against any credit on your Account (including a joint account) with us. 13.4. In addition to any lien, right of netset-off or set-off and it shows that the amounts due to us or one of our Group Companies exceed the amount due to youother right which we may have, we will give you notice be entitled to set- off the indemnity given under the Account Agreement or any such commission, charge, fee or monies owing to us in respect of this the Services rendered against any of the Accounts, whether in Cayman Islands or elsewhere, notwithstanding that the credit balances on such Account(s) and you shall immediately pay such shortfall to us. If the your liabilities to may not be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwisesame currency. 13.5. If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and may in good faith, faith estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ In addition to any other right to withhold payment, we shall be entitled (but not obliged), at any time and without notice to you, to net-off and set-off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold with us or any of our Group Companies) in which you may have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to us or one of our Group Companies exceed the amount due to you, we will give you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwise. If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ In addition 19.1. The Agreement and all Trades under it shall form part of a single agreement between us and you. You and we both acknowledge that we enter into the Agreement and any Trades under it in reliance upon the fact that these are part of a single agreement between us. 19.2. Without prejudice to any other our right to withhold paymentrequire immediate payment from you under the terms of this Agreement, we shall be entitled (but not obliged)will, at any time time, have the right to: 19.2.1. combine and without notice to you, to net-off consolidate your Cash and set-off any liability money we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether Related Entities hold for you in any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective all of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold have with us or with any of our Related Entities; and 19.2.2. set off against each other the amounts referred to in (a) and (b) below: a) any amounts that are payable by us or any of our Group Companies) in which Related Entities to you may (regardless of how and when payable), including your Cash (if a credit balance), Unrealised Profits and any credit balance held on any account you have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to with us or one with any of our Group Companies exceed the amount due to youRelated Entities, we will give even if any of those accounts have been closed; b) any amounts that are payable by you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms Related Entities (regardless of how and when payable), including, but not limited to, Unrealised Losses, interest, costs, expenses, and/or charges incurred in respect of, or otherwiseany debit balances in, any account you have with us or with any of our Related Entities, even if those accounts have been closed. 19.3. If any amount in clause 19.2.2(b) exceeds any amount in clause 19.2.2(a) above, you must forthwith pay such excess to us whether demanded or not. 19.4. You are also entitled to require us to exercise the rights in clause 19.2 above in relation to all your accounts and/or Open Positions which have been closed. 19.5. If the rights under clauses 19.2, 19.3 or 19.4 are exercised, all the payment obligations will be consolidated into an obligation due for you to pay a net sum to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimatefor us to pay a net sum to you.

Netting and Set-Off. ‌ In addition 18.1 The Agreement and all Orders under it shall form part of a single agreement between us and you. You and we both acknowledge that we enter into the Agreement and any Orders under it in reliance upon the fact that these are part of a single agreement between us. 18.2 Without prejudice to any other our right to withhold paymentrequire immediate payment from you under the terms of this Agreement, but subject to the application of clauses 18.3 and 18.4 we shall be entitled (but not obliged)will, at any time time, have the right to: 18.2.1 combine and without notice to you, to net-off consolidate your Cash and set-off any liability money we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether Associated Entities hold for you in any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective all of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold have with us or with any of our affiliate companies; and 18.2.2 set off against each other the amounts referred to in (a) and (b) below: a) any amounts that are payable by us or any of our Group Companies) in which affiliate companies to you may (regardless of how and when payable), including any Unrealised Profits and any credit balance held on any account you have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to with us or one with any of our Group Companies exceed the amount due to youaffiliate companies, we will give even if any of those accounts have been closed; b) any amounts that are payable by you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies affiliate companies (regardless of how and when payable), including, but not limited to, Unrealised Losses, interest, costs, expenses, and/or charges incurred in respect of, or any debit balances in, any account you have with us or with any of our affiliate companies, even if those accounts have been closed. 18.3 If any amount in clause 18.2.2(b) exceeds any amount in clause 18.2.2(a) above, you must pay such excess to us whether upon demand. 18.4 You are also entitled to require us to exercise the rights in clause 18.2 above in relation to all your accounts and/or Open Orders which have been closed. 18.5 If the rights under these Terms clauses 18.2, 18.3 or otherwise. If 18.4 are exercised, all the payment obligations will be consolidated into an obligation due for you to pay a net sum to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimatefor us to pay a net sum to you.

Netting and Set-Off. ‌ In addition to 13.1 It is agreed between us that all transactions between you and us, whether under the Account Agreement or any other agreement, shall be mutual dealings and part of a single, indivisible, contractual and business relationship notwithstanding that the relevant transactions may be governed by different documentation. 13.2 Without prejudice to our right to withhold paymentrequire payment from you in accordance with the Account Agreement, we shall be entitled (but not obliged), will have the right at any time and without notice to you, to net-off and set-set off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss Losses incurred by us or one of our Group Companies in connection with your Account or your trading activitiesactivities against: (a) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account Account (including any joint account, corporate account or other accounts account which you may hold with us or any of our Group Companiesus) in which you may have a financial interest; or (b) any funds, monies or investment of any kind which we may owe you whether under the Account Agreement or under any other contractual arrangements which you may have with us. 13.3 You must pay such sums as necessary to set off any Loss or debit balance that exceeds the amounts held in your Account, whether we demand for such payment or not. If we exercise the rights You also authorise us to set off sums held by us for or to your credit in a joint account against Losses incurred by such joint account. You further authorise us to set off any Losses incurred in respect of, or any debit balances in, any account held by you against any credit on your Account (including a joint account) with us. 13.4 In addition to any lien, right of netset-off or other right which we may have, we will be entitled to set-off and it shows the indemnity given under the Account Agreement or any such commission, charge, fee or monies owing to us in respect of the Services rendered against any of the Accounts, whether in Hong Kong or elsewhere, notwithstanding that the amounts due to us or one of our Group Companies exceed the amount due to you, we will give you notice of this credit balances on such Account(s) and you shall immediately pay such shortfall to us. If the your liabilities to may not be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwise. same currency. 13.5 If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and may in good faith, faith estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ In addition to any other right to withhold payment, we shall be entitled (but not obliged), at any time and without notice withoutnotice to you, to net-off and set-off any liability we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold with us or any of our Group Companies) in which you may have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to us or one of our Group Companies exceed the amount due to you, we will give you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section clause shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms or otherwise. If an obligation due to us or one of our Group Companies by you or one of your Group Companies or agentsCompanies, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimate.

Netting and Set-Off. ‌ In addition 18.1. The Agreement and all Trades under it shall form part of a single agreement between us and you. You and we both acknowledge that we enter into the Agreement and any Trades under it in reliance upon the fact that these are part of a single agreement between us. 18.2. Without prejudice to any other our right to withhold paymentrequire immediate payment from you under the terms of this Agreement, we shall be entitled (but not obliged)will, at any time time, have the right to: 18.2.1. combine and without notice to you, to net-off consolidate your Cash and set-off any liability money we have to you or one of your Group Companies or your agents towards the full or partial settlement of any liability (including without limitation any loss incurred by us or one of our Group Companies in connection with your Account or your trading activities) you owe to us or to any of our Group Companies, whether Related Entities hold for you in any such liability is present or future, liquidated or unliquidated, under these terms or not and irrespective all of the currency or its denomination, and against any account (including joint account, corporate account or other accounts which you may hold have with us or with any of our Related Entities; and 18.2.2. set off against each other the amounts referred to in (a) and (b) below: a) any amounts that are payable by us or any of our Group Companies) in which Related Entities to you may (regardless of how and when payable), including your Cash (if a credit balance), Unrealised Profits and any credit balance held on any account you have financial interest. If we exercise the rights of net-off or set-off and it shows that the amounts due to with us or one with any of our Group Companies exceed the amount due to youRelated Entities, we will give even if any of those accounts have been closed; b) any amounts that are payable by you notice of this and you shall immediately pay such shortfall to us. If the liabilities to be set-off are expressed in different currencies, we may convert either liability at a rate of exchange which we determine to be reasonable for the purpose of netting or set-off, and you shall be liable for any currency exchange fees and costs. Any exercise by us of our rights under this section shall be without prejudice to any other rights or remedies available to us or any of our Group Companies under these Terms Related Entities (regardless of how and when payable), including, but not limited to, Unrealised Losses, interest, costs, expenses, and/or charges incurred in respect of, or otherwiseany debit balances in, any account you have with us or with any of our Related Entities, even if those accounts have been closed. 18.3. If any amount in clause 18.2.2(b) exceeds any amount in clause 18.2.2(a) above, you must forthwith pay such excess to us whether demanded or not. 18.4. You are also entitled to require us to exercise the rights in clause 18.2 above in relation to all your accounts and/or Open Positions which have been closed. 18.5. If the rights under clauses 18.2, 18.3 or 18.4 are exercised, all the payment obligations will be consolidated into an obligation due for you to pay a net sum to us or one of our Group Companies by you or one of your Group Companies or agents, cannot be reasonably ascertained, we may, at our sole discretion and in good faith, estimate that obligation and set-off in respect of that estimatefor us to pay a net sum to you.