Common use of Reconciliation Subsets Clause in Contracts

Reconciliation Subsets. Notwithstanding the reference to “all outstanding Relevant Transactions” in the definition of Portfolio Data, HSBC may divide the Portfolio Data into two or more subsets of Relevant Transactions and, if so divided, the process set out in Clause 2.1 above will occur separately for each subset and the related definitions will be construed accordingly.