Common use of SUSPENSE ACCOUNT AND PROOF OF DEBT Clause in Contracts

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 monies received for the account of the Borrower hereunder may be placed and kept to the credit of a non-interest bearing suspense account for so long as the Bank may in its absolute discretion deem thinks 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 Assignor to the Bank. Notwithstanding any such payment payment, in the event of any proceedings in or analogous to bankruptcy or insolvency bankruptcy, insolvency, liquidation, composition or arrangement of the BorrowerAssignor, 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 such money and liability against the Borrower 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 Borrower Assignor until the Bank shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the BorrowerAssignor. After the Bank has received such ultimate balance in full any claim on the part of the Borrower Assignor to any excess or any securities remaining with the Bank shall be a matter of adjustment between the Bank and the Borrower Assignor and/or any other person or persons laying claim thereto.

SUSPENSE ACCOUNT AND PROOF OF DEBT. Any monies money 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 deems 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 Bankit. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy or insolvency liquidation, composition or arrangement of the Borrower, 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 monies received for the account of the Borrower hereunder may be placed and kept to the credit of a non-interest bearing suspense account for so long as the Bank may in its absolute discretion deem thinks 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 and/or the Assignor to the Bank. Notwithstanding any such payment payment, in the event of any proceedings in or analogous to bankruptcy or insolvency bankruptcy, insolvency, liquidation, composition or arrangement of the BorrowerBorrower 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 such money and liability against the Borrower 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 Assignor or the Borrower until the Bank shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the Assignor and/or the Borrower. 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 securities remaining with the Bank shall be a matter of adjustment between the Bank and the Borrower Assignor and/or any other person or persons laying claim thereto.