Common use of RIGHT TO SET OFF AND CONSOLIDATION Clause in Contracts

RIGHT TO SET OFF AND CONSOLIDATION. (a) The Cardmember agrees that the Bank may in its absolute discretion at anytime and with prior notice combine or consolidate all or any account(s) of the Cardmember including accounts maintained with the Bank and/or of the Cardmember jointly with others (whether current deposit loan or of any other nature whatsoever and in whatever currency) wheresoever situated, with any liabilities of the Cardmember under any other agreement with the Bank and set off or transfer any sum(s) standing to the credit of any one or more of such account(s), agreements or contracts in or from any other asset of the Cardmember or security held by the Bank or all subsidiaries and related companies of the Bank and the PBB Group towards satisfaction of any of the liabilities of the Cardmember due and payable to the Bank under this Agreement and all subsidiaries and related companies of the Bank and the PBB Group. Where such combination consolidation set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated at the Bank’s prevailing exchange rate which shall be determined by the Bank at its sole discretion. (b) The Bank shall give the Cardmember, seven (7) calendar days’ advance notice in writing prior to the set-off, towards satisfaction of any sum due to the Bank under this Agreement.

RIGHT TO SET OFF AND CONSOLIDATION. (a) The Cardmember agrees that the Bank may in its absolute discretion at anytime and with prior notice notice, combine or consolidate all or any account(s) of the Cardmember Cardmember, including accounts maintained with the Bank and/or of the Cardmember jointly with others (whether current deposit loan or of any other nature whatsoever and in whatever currency) wheresoever situated, with any liabilities of the Cardmember under any other agreement with the Bank and set off or transfer any sum(s) standing to the credit of any one or more of such account(s), agreements or contracts in or from any other asset of the Cardmember or security held by the Bank or all subsidiaries and related companies of the Bank and the PBB Group towards satisfaction of any of the liabilities of the Cardmember due and payable to the Bank under this Agreement and all subsidiaries and related companies of the Bank and the PBB Group. Where such combination consolidation set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated at the Bank’s prevailing exchange rate which shall be determined by the Bank at its sole discretion. (b) The Bank shall give the Cardmember, seven (7) calendar days’ advance notice in writing prior to the set-off, towards satisfaction of any sum due to the Bank under this Agreement.

RIGHT TO SET OFF AND CONSOLIDATION. (a) The Cardmember agrees that the Bank may in its absolute discretion at anytime any time and with prior notice immediately combine or consolidate all or any account(s) of the Cardmember including accounts maintained with in the name of the Bank and/or and or of the Cardmember jointly with others (whether current deposit loan or of any other nature whatsoever whether subject to notice or not and in whatever currency) wheresoever situated, with any liabilities of the Cardmember under any other agreement with the Bank and set off or transfer any sum(s) standing to the credit of any one or more of such account(s), agreements or contracts in or from any other asset of the Cardmember or security held by the Bank or all subsidiaries and related companies of the Bank and the PBB Group towards satisfaction of any of the liabilities of the Cardmember due and payable to the Bank under this Agreement and all subsidiaries and related companies of the Bank and the PBB Group. Where such combination consolidation set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated at the Bank’s 's prevailing exchange rate which shall be determined by the Bank at its sole discretion. (b) The Bank shall give the Cardmember, seven (7) calendar days’ days advance notice in writing prior to the set-off, towards satisfaction of any sum due to the Bank under this Agreement.