Lien and Set Off. As further security for all of your obligations hereunder (but subject to the Rules) we shall have the right to retain (and apply as set out below) all of your property which we or any of our Associated Firms hold for any purpose, including, but not limited to, property held in any other of your accounts with us or any of our Associated Firms, whether or not we have made any advances in connection with such property. From time to time we may, without notice, transfer and re-transfer any money or other property between any such accounts. You shall execute such documents and take such other action as we shall reasonably request in order to perfect our rights with respect to any security referred to in this Clause 28.
Lien and Set Off. 15.1 In addition to any general lien or other rights to which MAS may be entitled under any applicable law, and to the greatest extent permitted by and without restriction imposed under applicable law, MAS shall have a general lien on and (without notice to the Specified Institution ) a right to set off, realise or apply or to otherwise dispose of all monies in the Current Account in satisfaction of all liabilities and obligations (whether actual or contingent and in whatever currency) of the Specified Institution to MAS.
15.2 The Specified Institution shall not, without the express prior written consent of MAS, assign, charge or otherwise encumber the Current Account or any cash balance therein, and shall not permit such encumbrances to exist.
Lien and Set Off. 7.1 In addition to and without prejudice to any general liens, right of set- off or other similar rights to which the Broker is entitled under law or this Agreement, all securities, receivables, money (in any currency) and other property of the Client (held by the Client individually or jointly with others) held by or in possession of the Broker at any time shall be subject to a general lien in favour of the Broker as continuing security to offset and discharge all of the Client's obligations, arising from the Transactions or otherwise, to the Broker and any of its Associates.
7.2 In the event that the Client has more than one account (of any nature whatsoever including accounts of other clients guaranteed by the Client and whether in single or joint names) maintained with the Broker or any of its Associates , in addition to and without prejudice to any general liens or similar rights, the Broker may by itself or as agent of any of its Associates at any time, and without notice to the Client, combine or consolidate all or any of them and set-off or transfer any monies or any other properties standing to the credit of any one or more of them in or towards satisfaction of any of the liabilities to the Broker or its Associates of the Client on any such accounts or in any other respect, including liabilities under facilities or accommodation for any unexpired fixed term or in respect of dealings in securities or under guarantees or indemnities or any other instruments whatsoever given or assumed by the Broker at the Client's request, whether such liabilities are present or future, actual or contingent, primary or collateral and joint or several.
7.3 Where any such set-off or combination requires the conversion of one currency into another, such conversion shall be calculated at the rate of exchange (as determined by the Broker and binding in all respects upon the Client) utilized by the Broker in the Broker's normal course of business for such currencies at the time of the combination or set-off.
7.4 The right of set off in this Clause 7 is a continuing security and is in addition and without prejudice to any security interest the Broker may now or hereafter hold. In respect of any payments to set off any liabilities or obligations of the Client to any of its Associates, the Broker shall not be concerned with whether or not such liabilities or obligations exist provided demand has been made on the Broker by any of its Associates.
7.5 Nothing herein shall restr...
Lien and Set Off. 25.1 All Securities and other property now or hereafter held, carried or maintained by us in our or the Agents' possession and control for any purpose shall be subject to a lien and held as security for the full discharge and payment of all your indebtedness and obligations to us in connection with this Agreement.
25.2 In enforcing our lien, we shall have the right to determine which Securities and properties are to be sold and which contracts are to be closed, and to apply the proceeds of sale, after deduction of expenses, to satisfy any indebtedness and obligations owed by you to us.
25.3 Further we are entitled, at any time and without notice to you, to combine or consolidate any credit balances in any Account and set off, debit, withhold and/or transfer any sum in or towards satisfaction of any indebtedness and obligations owed by you to us.
25.4 You agree that we may dispose or initiate the disposal of Securities owned by you for the purpose of settling any liability owed by you to us or any of our associated entities (as defined in the Securities and Futures Ordinance).
Lien and Set Off. (a) The Dealer shall be entitled to exercise a right of lien on all monies, deposits and securities belonging to the Customer pending the settlement of all amounts which are due and owing from the Customer to the Dealer.
(b) The Dealer shall also be entitled to exercise a right of set-off and appropriate any sum standing to the credit of the Customer in any account towards the satisfaction of the amounts due from the Customer to the Dealer.
Lien and Set Off. (A) Lien. In addition to any other remedies available to the Custodian under applicable law, the Custodian shall have, and the Client hereby grants, a continuing general lien on all Securities until the satisfaction of liabilities arising under this Agreement of the Client to the Custodian in respect to any fees and expenses or credit exposures incurred in the performance of services under this Agreement.
Lien and Set Off. (a) Without limiting any right or remedy available at law to the Custodian, if the Custodian:
(i) advances cash or securities to the Client for any purpose (including, without limitation, securities settlements, the purchase or sale of foreign exchange or of agreements for foreign exchange or assumed settlement); or
(ii) incurs any liability to pay taxes, interest, charges, expenses, assessments, or other moneys in connection with the performance of its obligations under this Schedule, except such as may arise from its own negligent act or negligent omission, any money or Assets at any time held for the account of the Client shall be security therefore and shall be subject to a right of set-off or lien respectively. If the Client fails to promptly reimburse the Custodian in respect of those advances or liabilities, the Custodian may utilise available cash and dispose of the Assets of the Client, in a manner, at a time and at a price that the Custodian deem proper to the extent necessary to make itself whole.
(b) The Custodian has a lien over the Assets for any amount due to the Custodian for Costs.
(c) The Custodian is otherwise not permitted to take or grant a charge, mortgage, lien or other encumbrance over, or in relation to, the Assets for any unpaid fees of the Custodian or unless it is in accordance with the Client’s written instructions.
(d) The Client acknowledges and agrees that:
(i) the Custodian is not obliged to act on any instructions of the Client, or complete the settlement of a transaction, involving the purchase of or subscription for any financial product on behalf of the Client, or any other transaction requiring the expenditure of money on behalf of the Client, or to make any monies or other financial accommodation available to the Client or any other person at the request of the Client, unless the Client has sufficient cash in their Managed Account to complete the transaction;
(ii) the Custodian may in its sole discretion, nevertheless, act on such instructions or complete such a transaction or make any such monies or other financial accommodation available (whether such financial accommodation is provided at the request or upon instructions of the Client) even if the Client has insufficient cash in their Managed Account and may for that purpose expend its own funds;
(iii) if the Custodian uses its own funds as contemplated by paragraph (ii), that expenditure or financial accommodation will be treated as an advance by the Custodian, as...
Lien and Set Off. Notwithstanding anything to the contrary in this Agreement or any other document/ arrangement: (i) in respect of all and any of the Borrower(s)', their respective group companies, promoters (partners, in case of the partnership firms and limited liability partnerships), affiliates, sister concerns, associate companies, subsidiaries, holding companies, etc.(hereinafter collectively referred to as the “Borrower Group”) present and future liabilities to the Lender or to the affiliates, group entities, associate entities, parent, subsidiaries, or any of branches of the Lender (hereinafter collectively referred to as the “Relevant Entity(ies)”), whether under this document or under any other obligation/loan/facilities/borrowings/ document, whether such liabilities are/ be crystallised, actual or contingent, primary or collateral or several or jointly with others, whether as principal debtor and/ or as guarantor and/ or otherwise howsoever (collectively “Liabilities”), the Lender and the Relevant Entities shall have a specific and special lien on all the Borrower Group's present and future stocks, shares, securities, property, book debts, held with or in custody, legal or constructive, with the Lender and the Relevant Entities, now or in future, whether in same or different capacity of the Borrower Group persons/ entities, and whether severally or jointly with others, whether for any safe custody, collection, or otherwise, and (ii) separately, the Lender and the Relevant Entities shall have an express right to, without notice to and without consent of the Borrower Group persons/ entities, set-off, transfer, sell, realise, adjust, appropriate all such securities, amounts and property as aforesaid (whether earmarked for any particular Liability or not) for the purpose of realizing or against any dues in respect of any of the Liabilities and to set-off any monies, whether of same type or nature or not and whether held in same capacity or not including upon any default in payment of any part of any of the Liabilities when due in terms of such documents and (iii) the security created by the Borrower or any other entity within the Borrower Group in respect any specific Liability in favour of the Lender or any of the Relevant Entities shall be deemed to be created for and shall secure all the Liabilities and may be enforced for the realisation of any or all the Liabilities. The Lender or the concerned Relevant Entity (as the case may be) shall not be bound to release a...
Lien and Set Off. (a) The Bank shall have a lien on all assets (movable and immovable) of the Borrower and/or the Security Party deposited with, or in the possession, custody or control of the Bank or its nominee for as long as the Facility remains outstanding and/or are made available to the Borrower. The Bank may exercise any rights in relation to set-off, combination or consolidation of accounts in accordance with the Letter of Offer.
(b) Neither the Borrower nor the Security Party may set off or counter claim against the Bank any liability owed by the Bank to the Borrower and/or the Security Party until the Indebtedness is fully paid.
Lien and Set Off. (1) Lien over your Securities and other property To secure full discharge and payment of all your liability, indebtedness and obligations under this Agreement, a lien is hereby imposed over all your Securities and other property now or hereafter held, carried or maintained by us in our or the Agents' possession and control for any purpose.
(2) Appropriation at our Discretion When we enforce our lien due to any liability, indebtedness and obligations you owe to us, we shall at our sole discretion determine which Securities and properties are to be sold and which contracts are to be closed, and to apply the proceeds of sale after deduction of expenses incurred hereof to settle such liability, indebtedness and obligations.
(3) Set-off To satisfy any liability, indebtedness and obligations owed by you to us, we may at any time combine or consolidate any credit balances in any Account and set off, debit, withhold and/or transfer any sum therein without notice to you.
