Common use of Retention and Set Off Clause in Contracts

Retention and Set Off. The Lender may retain any money standing to the credit of any of the Borrower’s bank accounts with the Lender (in any currency) as cover for any of the sums owed under any Finance Document and/or may at any time, without notice to the Borrower, combine or consolidate all or any of such money with all or such part of such sums as the Lender may select, whether presently payable or not, and the Lender may purchase with any such money any other currency required to effect such combination.

Retention and Set Off. The Lender may retain any money standing to the credit of any of the Borrower’s 's bank accounts with the Lender (in any currency) as cover for any of the sums owed under any Finance Document and/or may at any time, without notice to the Borrower, combine or consolidate all or any of such money with all or such part of such sums as the Lender may select, whether presently payable or not, and the Lender may purchase with any such money any other currency required to effect such combination.