PAYMENT IN GROSS. (a) All monies received from or on account of the Borrower and/or the Assignor, from any other persons or estate, from the realisation of this Assignment or any security, or otherwise for the purpose of being applied in the reduction of the Borrower‟s and/or the Assignor‟s account or of the monies covenanted to be paid under this Assignment, will be treated for all purposes as payments in gross, and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid, even if appropriated as such by the Bank.
(b) All securities held by the Bank now or in future will be treated as security for the said general balance.
(c) The Borrower and/or the Assignor, his estate or any other persons deriving or claiming title under the Borrower and/or the Assignor will have no claim to such security, and any part or interest in such security, unless the Bank has received the full amount owing to the Bank by the Borrower and/or the Assignor.
PAYMENT IN GROSS. All money received or recovered by the Beneficiary on account of the Obligations shall be treated as payments in gross.
PAYMENT IN GROSS. (a) All monies received from or on account of the Customer and/or the Chargor, from any other persons or estate, from the realisation of this Charge or any Security, or otherwise for the purpose of being applied in the reduction of the Customer’s account or of the monies covenanted to be paid under this Charge, will be treated for all purposes as payments in gross, and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid, even if appropriated as such by the Chargee.
(b) All securities held by the Chargee now or in future will be treated as security for the said general balance.
(c) The Chargor, his estate or any other persons deriving or claiming title under the Chargor will have no claim to such security, and any part or interest in such security, unless the Chargee has received the full amount owing to the Chargee by the Customer and/or the Chargor.
PAYMENT IN GROSS. (a) All monies received from or on account of the Customer and/or the Assignor, from any other persons or estate, from the realisation of this Assignment or any security, or otherwise for the purpose of being applied in the reduction of the Customer’s and/or the Assignor’s account or of the monies covenanted to be paid under this Assignment, will be treated for all purposes as payments in gross, and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid, even if appropriated as such by the Bank.
(b) All securities held by the Bank now or in future will be treated as security for the said general balance.
(c) The Customer and/or the Assignor, his estate or any other persons deriving or claiming title under the Customer and/or the Assignor will have no claim to such security and any part or profit in such security, unless the Bank has received the full amount owing to the Bank by the Customer and/or the Assignor.
PAYMENT IN GROSS. 16.1 All moneys received from or on account of the Borrower and/or any Security Party, or from any other person, from the realisation of any Security for the purpose of being applied towards reducing the Indebtedness will be treated for all purposes as payments in gross and not as appropriated or attributable to any specific part or item of any moneys owing to the Bank, even if appropriated as such by the Bank.
16.2 All Securities held by the Bank now or at any time in the future will be treated as security for the general balance of the Indebtedness.
16.3 The Borrower, the Security Party, his estate or any other person deriving or claiming title under the Borrower or the Security Party will have no claim to such Securities, or any part of or interest in such Securities, unless the Bank has received the full amount owing to it by the Borrower and/or the Security Party.
PAYMENT IN GROSS. All monies received by the Bank from any person or estate capable of being applied in reduction of the Indebtedness shall be regarded for all purposes as payment in gross, and if a receiving order shall be made against any person liable to the Bank or any order be made or any effective resolution be passed for the winding up of any company liable to the Bank, the Bank may prove for the whole of the monies then owing, and no money received under such proof shall be considered as having been received and the full amount owing shall remain payable, until the Bank has received from all sources One Hundred Sen in the Ringgit Malaysia (or in the case of foreign currency facilities taken by the Borrower, the relevant foreign currency equivalent).
PAYMENT IN GROSS. All money received or recovered by the Financiers on account of the Guaranteed Money will be treated as payments in gross.
PAYMENT IN GROSS. 27.1 All monies received from or on account of the Customer and/or the Security Party, from any other persons or estate, from the realisation of any security, or otherwise for the purpose of being applied in the reduction of the Indebtedness, will be treated for all purposes as payments in gross, and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid, even if appropriated as such by the Bank.
27.2 All securities held by the Bank now or in future will be treated as security for the Indebtedness. The Customer and/or the Security Party, his estate or any other persons deriving or claiming title under the Customer and/or the Security Party will have no claim to such security, and any part or interest in such security, unless the Bank has received the full amount owing to the Bank by the Customer and/or the Security Party.
PAYMENT IN GROSS. All monies received by the Lender from any person or estate capable of being applied in reduction of the monies hereby secured shall be regarded fur all purposes as payments in gross and if a receiving order is made against any person liable to the Lender or an order be made or an effective resolution be passed for the winding-up of any company liable to the Lender, the Lender may proe for the whole of the monies then owing and no money received under such proof shall be considered as received in respect of this security but the full amount owing shall by payable until the Lender has received from all sources one hundred sen in the ringgit and if the amount ultimately received by the Lender exceeds the amount of the ultimate balance owing to the Lender the excess only over such ultimate balance shall be repaid to the person or party on whose account the same hall have been received by the Lender. The Borrower(s) hereby agrees that· until the Indebtedness is fully settled, any monies (whether in the form of cash, dividends or other forms), property or assets receivable by the Lender under Sections 16.07 or 16.16 but paid to or received by' the Borrower(s) shall be held upon trust to pay or to transfer the same to the Lender to the extent of such Indebtedness.
PAYMENT IN GROSS. All moneys payable by the Guarantor under this clause 37 must be:
(a) paid in full without set-off or counterclaim; and
(b) free and clear of any present or future taxes, deduction or withholding of any kind.
