SUSPENSE ACCOUNT AND PROOF OF DEBT. Any monies received for the account of the Borrower may be placed and kept to the credit of a suspense account for so long as the Bank may in its absolute discretion deem fit without any obligation in the meantime to apply the same or any part thereof in or towards the discharge of any monies or liabilities due or incurred by the Borrower to the Bank. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy or insolvency liquidation, composition or arrangement of the Borrower, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of the amount outstanding against the Borrower on such general balance in the same manner as if this security had not been created and no monies or dividends so received by the Bank shall be treated as received in respect of this security but the full amount hereby secured shall be payable by the Borrower until the Bank shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the Borrower. After the Bank has received such ultimate balance in full any claim on the part of the Borrower to any excess or any securities remaining with the Bank shall be a matter of adjustment between the Bank and the Borrower and/or any other person or persons laying claim thereto.
SUSPENSE ACCOUNT AND PROOF OF DEBT. Any money received for the account of the Customer may be placed and kept to the credit of a non-income bearing suspense account for so long and in such manner as the Bank may in its absolute discretion deems fit and if applied by the Bank in or towards discharge of any monies or liabilities due or incurred by the Customer, may be applied in such order and proportions as the Bank may in its absolute discretion deems fit. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Customer and/or the Assignor the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of the amount outstanding against the Customer and/or the Assignor on such general balance in the same manner as if this security had not been created and no monies or dividends so received by the Bank shall be treated as received in respect of this security but the full amount hereby secured shall be payable by the Customer and/or the Assignor until the Bank shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the Customer and/or the Assignor. After the Bank has received such ultimate balance in full any claim on the part of the Customer and/or the Assignor to any excess or any security remaining with the Bank shall be a matter of adjustment between the Bank and the Customer and/or the Assignor and/or any other person or persons laying claim thereto.
SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Bank can place and keep any money received under this Assignment in a non-interest bearing suspense account for as long as the Bank thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Borrower and/or the Assignor.
(b) Regardless of such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Borrower and/or the Assignor, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money.
(c) After the Bank has received such ultimate balance in full, any claim on the part of the Borrower and/or the Assignor to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Borrower and/or the Assignor and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Chargee can place and keep any money received under this Charge in a non-income bearing suspense account for as long as the Chargee thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Customer.
(b) Regardless of such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Customer and/or the Chargor, the Chargee may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money.
(c) After the Chargee has received such ultimate balance in full, any claim on the part of the Customer and/or the Chargor to any excess or any security remaining with the Chargee will be a matter of adjustment between the Chargee and the Customer and/or the Chargor and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. 20.1 The Bank may at any time place and keep any sum or sums of moneys received, recovered or realised by the Bank under or in connection with this Agreement or any other Security Documents in a non-profit bearing suspense account(s) for so long as the Bank thinks fit without being obliged to apply the same (or any part of it) in or towards discharging any liability due or incurred by the Customer for such purpose as the Bank thinks fit, including but not limited to taking action against the Customer or any Security Party, or to prove in the insolvency of the Customer or any Security Party, for any moneys or liabilities at any time owing or payable to the Bank or to preserve the Bank’s interest over the Security under the Security Documents or the liability of the Customer or any Security Party to the Bank.
20.2 In the event any sum or sums referred to in Clause 20.1 is applied by the Bank in or towards discharge of any monies or liabilities due or incurred by the Customer, the same may be applied by the Bank in such order and proportions as the Bank may in its absolute discretion deems fit.
20.3 Notwithstanding any payment by the Bank in Clause 20.2, in the event the Customer or any Security Party becomes bankrupt, wound up, insolvent or subject to any insolvency proceedings, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money. Upon the Bank having received the ultimate balance of the Indebtedness in full, any claim on the part of the Customer and/or a Security Party to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Customer and/or the Security Party and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. 45.1 The Bank can place and keep any money paid to it under this Agreement or any Security Document in a non-interest bearing suspense account for as long as the Bank thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Borrower.
45.2 Regardless of the payment of any such money, if the Borrower or any Security Party becomes the subject of any bankruptcy, insolvency or similar proceedings, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money.
45.3 After the Bank has received the ultimate balance in full, any claim on the part of the Borrower and/or a Security Party to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Borrower and/or the Security Party and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. 15.1 The Bank can place and keep any money received under this Agreement in a non-income bearing suspense account for as long as the Bank thinks fit, without any obligation in the meantime to use any part of it towards discharging any liability due or incurred by the Customer and/or the Security Party.
15.2 Regardless of such payment in Clause 15.1, in the event of any proceedings in or analogous to bankruptcy or insolvency of the Customer and/or the Security Party, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such payment in Clause 15.1 until the Bank is in receipt from all sources the ultimate balance outstanding by the Customer and/or the Security Party in full.
15.3 After the Bank has received the ultimate balance outstanding in full, any claim on the part of the Customer and/or the Security Party to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Customer and/or the Security Party and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Bank can place and keep any money received under this Assignment in a non-income bearing suspense account for as long as the Bank thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Customer and/or the Assignor.
(b) Regardless of such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Customer and/or the Assignor, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money.
(c) After the Bank has received such ultimate balance in full, any claim on the part of the Customer and/or the Assignor to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Customer and/or the Assignor and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Bank can place and keep any money received under this Assignment in a non-income bearing suspense account for as long as the Bank thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Customer and/or the Assignor.
(b) Regardless of such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Customer and/or the Assignor, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such money. LEG/i-024 DOA(RP)(01/18)
(c) After the Bank has received such ultimate balance in full, any claim on the part of the Customer and/or the Assignor to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Customer and/or the Assignor and/or any other person or persons laying claim to the same.
SUSPENSE ACCOUNT AND PROOF OF DEBT. 40.1 The Bank can place and keep any money received under this Agreement in a non-interest bearing suspense account for as long as the Bank thinks fit, without any obligation in the meantime to use any part of it towards discharging any liability due or incurred by the Borrower and/or the Security Party.
40.2 Regardless of such payment in Section 40.1, in the event of any proceedings in or analogous to bankruptcy or insolvency of the Borrower and/or the Security Party, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of such payment in Section 38 until the Bank is in receipt from all sources the ultimate balance outstanding by the Borrower and/or the Security Party in full.
40.3 After the Bank has received the ultimate balance outstanding in full, any claim on the part of the Borrower and/or the Security Party to any excess or any security remaining with the Bank will be a matter of adjustment between the Bank and the Borrower and/or the Security Party and/or any other person or persons laying claim to the same.
