Opening of New Accounts. If for any reason this Guarantee ceases to be a continuing security, the Lender may open a new account for each Obligor. If the Lender does not open a new account, it shall nevertheless be treated as if it had done so at the time this Guarantee ceased to be a continuing security. As from that time all payments made to the Lender will be credited or treated as having been credited to the new account and will not operate to reduce the obligations of the Guarantor under this Guarantee.
Opening of New Accounts. Introducing Firm shall be responsible for opening and approving new accounts in compliance with the Rules, including all applicable laws and regulations concerning Anti-Money Laundering and regulations and guidance issued by the United States Department of Treasury’s Office of Foreign Asset Control. No account may be opened without the prior approval of Clearing Agent as provided in Section 4.2.
Opening of New Accounts. If for any reason this Guarantee ceases to be a continuing security, the Lender may open a new account for each Principal. If the Lender does not open a new account, it shall nevertheless be treated as if it had done so at the time this Guarantee ceased to be a continuing security. As from that time all payments made to the Lender will be credited or treated as having been credited to the new account and will not operate to reduce the obligations of the Guarantor under this Guarantee. Deed of Guarantee and Indemnity 4
Opening of New Accounts. 9 11. ENFORCEMENT.........................................................9 12.
Opening of New Accounts. If this Guarantee ceases for any reason to be binding on the Guarantor as a continuing security in relation to the Principal, then each Beneficiary may break such accounts of the Guarantor and the Principal with such Beneficiary as such Beneficiary deems appropriate and open new accounts for the account holders affected. If that is done, no money credited to such new account at that time or later will have the effect of reducing the amount due to such Beneficiary on the original account. If that is not done, such Beneficiary will still be treated as if it had broken all such accounts at the time when such notice expired or this Guarantee ceased to be a continuing security and as if all payments made to such Beneficiary then or later had been credited to a new account with the same result. Such Beneficiary may also refuse payment (without notice to the Guarantor) of any cheque or order which, if paid or honoured, would reduce or further reduce the Guarantor's credit balances below the amount of its liability to such Beneficiary under this Guarantee at such time.
Opening of New Accounts. If for any reason this Guarantee ceases to be a continuing security, the Bank may either continue any then existing account or open one or more fresh accounts for the Principal, but in either case the obligations of the Guarantor under this Guarantee shall remain unaffected by, and be computed without regard to, any payment into or out of any such account after this Guarantee has ceased to be a continuing security.
Opening of New Accounts
