Common use of Set-Off, Lien and Combination of Accounts Clause in Contracts

Set-Off, Lien and Combination of Accounts. You may at any time without notice, notwithstanding any settlement of account(s) or other matters whatsoever, but in addition and without prejudice to any general liens or other similar rights which you be entitled under any applicable laws or this Agreement, (for yourself and as agent for any of your Group Companies (defined as below), at any time without notice to me/us) combine or consolidate all or any of such Accounts as are for the time being opened and maintained by me/us (whether individually or jointly with others) with you or any of the Group Companies (as defined below), including the existing Accounts, for use in connection with the trading in Securities and/or other instruments or investments of any description whatsoever and wheresoever issued, quoted, dealt in or located and set-off or transfer any sum (in any currency) standing to the credit of any one or more such Accounts wherever suitable in or towards satisfaction of any of my/our indebtedness, obligation or liability to you on any Account or in any other respect whatsoever, whether such indebtedness, obligations or liabilities be present or future, actual or contingent, primary or collateral, several or joint, secured or unsecured and when such combination, set-off or transfer requires the conversion of the currency into another such conversion shall be calculated at the spot rate of exchange (as conclusively determined by you) prevailing in such foreign exchange market as you may in you absolute discretion select on or about the date of combination, set-off or transfer. All securities, monies and properties which you or any of your holding companies or any subsidiary (both as defined in the Companies Ordinance) of any such holding company or any of your subsidiaries (collectively “Group Companies” and each a “Group Company”) or any other company or person otherwise associated with you including those with whom you have any form of dealing, brokerage, agency or clearing relationship (each of which is referred to as an “Associate”) may at any time be holding for me/us (whether individually or jointly with others) or which may at any time be in the possession of you or any of the Group Companies or an Associate for any purpose and in whatever capacity shall be subject to a general lien in you favour and shall be held as security for the payment and discharge of any indebtedness and other obligations or liabilities of me/us on any of the Accounts and/or other obligations or liabilities of me/us to you or any of the Group Companies or an Associate whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several. In enforcing your lien, you shall have an absolute discretion to determine which Securities are to be sold and which contracts are to be closed.

Set-Off, Lien and Combination of Accounts. You may at any time without notice, notwithstanding any settlement of account(s) or other matters whatsoever, but in addition and without prejudice to any general liens or other similar rights which you be entitled under any applicable laws or this Agreement, (for yourself and as agent for any of your Group Companies (defined as below), at any time without notice to me/me/ us) combine or consolidate all or any of such Accounts as are for the time being opened and maintained by me/us (whether individually or jointly with others) with you or any of the Group Companies (as defined below), including the existing Accounts, for use in connection with the trading in Securities and/or other instruments or investments of any description whatsoever and wheresoever issued, quoted, dealt in or located and set-off or transfer any sum (in any currency) standing to the credit of any one or more such Accounts wherever suitable in or towards satisfaction of any of my/our indebtedness, obligation or liability to you on any Account or in any other respect whatsoever, whether such indebtedness, obligations or liabilities be present or future, actual or contingent, primary or collateral, several or joint, secured or unsecured and when such combination, set-off or transfer requires the conversion of the currency into another such conversion shall be calculated at the spot rate of exchange (as conclusively determined by you) prevailing in such foreign exchange market as you may in you absolute discretion select on or about the date of combination, set-off or transfer. All securities, monies and properties which you or any of your holding companies or any subsidiary (both as defined in the Companies Ordinance) of any such holding company or any of your subsidiaries (collectively “Group Companies” and each a “Group Company”) or any other company or person otherwise associated with you including those with whom you have any form of dealing, brokerage, agency or clearing relationship (each of which is referred to as an “Associate”) may at any time be holding for me/us (whether individually or jointly with others) or which may at any time be in the possession of you or any of the Group Companies or an Associate for any purpose and in whatever capacity shall be subject to a general lien in you favour and shall be held as security for the payment and discharge of any indebtedness and other obligations or liabilities of me/us on any of the Accounts and/or other obligations or liabilities of me/us to you or any of the Group Companies or an Associate whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several. In enforcing your lien, you shall have an absolute discretion to determine which Securities are to be sold and which contracts are to be closedbeclosed.

Set-Off, Lien and Combination of Accounts. You may at any time without notice, notwithstanding any settlement of account(s) or other matters whatsoever, but in addition and without prejudice to any general liens or other similar rights which you be entitled under any applicable laws or this Agreement, (for yourself and as agent for any of your Group Companies (defined as below), at any time without notice to me/me/ us) combine or consolidate all or any of such Accounts as are for the time being opened and maintained by me/us (whether individually or jointly with others) with you or any of the Group Companies (as defined below), including the existing Accounts, for use in connection with the trading in Securities and/or other instruments or investments of any description whatsoever and wheresoever issued, quoted, dealt in or located and set-off or transfer any sum (in any currency) standing to the credit of any one or more such Accounts wherever suitable in or towards satisfaction of any of my/our indebtedness, obligation or liability to you on any Account or in any other respect whatsoever, whether such indebtedness, obligations or liabilities be present or future, actual or contingent, primary or collateral, several or joint, secured or unsecured and when such combination, set-off or transfer requires the conversion of the currency into another such conversion shall be calculated at the spot rate of exchange (as conclusively determined by you) prevailing in such foreign exchange market as you may in you absolute discretion select on or about the date of combination, set-off or transfer. All securities, monies and properties which you or any of your holding companies or any subsidiary (both as defined in the Companies Ordinance) of any such holding company or any of your subsidiaries (collectively “Group Companies” and each a “Group Company”) or any other company or person otherwise associated with you including those with whom you have any form of dealing, brokerage, agency or clearing relationship (each of which is referred to as an “Associate”) may at any time be holding for me/us (whether individually or jointly with others) or which may at any time be in the possession of you or any of the Group Companies or an Associate for any purpose and in whatever capacity shall be subject to a general lien in you favour and shall be held as security for the payment and discharge of any indebtedness and other obligations or liabilities of me/us on any of the Accounts and/or other obligations or liabilities of me/us to you or any of the Group Companies or an Associate whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several. In enforcing your lien, you shall have an absolute discretion to determine which Securities are to be sold and which contracts are to be closed.