Set-off. 16.1 Set Off - CCB (Asia) may, at any time without prior notice, combine or consolidate any accounts (of whatever nature, wherever situate, whether in the sole name of the Cardmember and/or the Company solely or jointly with other(s) and whether subject to notice or not), and set-off, debit, withhold, apply and/or transfer any sum standing to the credit of one or more of the accounts in or towards satisfaction of obligations and/or liabilities of the Cardmember and/ or the Company to CCB (Asia) on any other account or in any other respect whatsoever, whether such obligations and/or liabilities be present or future, actual or contingent, primary or collateral, several or joint, secured or unsecured and whether they are owed by the Cardmember and/or the Company to CCB (Asia) in whatever capacity, and where such combination, consolidation, set-off, debit, withholding, application or transfer requires the conversion of one currency into another, such conversion shall be calculated at the spot rate of exchange (as conclusively determined by CCB (Asia))
16.2 Lien - The Cardmember and/or the Company hereby authorize CCB (Asia) to exercise a lien over all of property of the Cardmember and/ or the Company coming into the possession or control of CCB (Asia) for any reason whatsoever, whether or not in the ordinary course of banking or credit card business, with power for CCB (Asia) to sell or otherwise realize such property, if necessary, and apply the net proceeds to satisfy any of the obligations and/or liabilities of the Cardmember and/or the Company to CCB (Asia).
16.3 Other Rights - The rights of CCB (Asia) under this Clause 16 shall be in addition and without prejudice to any lien or other right whatsoever to which CCB (Asia) may be entitled by law and shall apply to all the liabilities of the Cardmember and/or the Company to CCB (Asia), whether such liabilities or any of them arise on any account or in any other respect or manner whatsoever.
Set-off. IN ADDITION TO AND NOT LIMITED BY SUCH OTHER RIGHTS AS THE BANK MAY HAVE, THE BANK, MAY AT ANY TIME AND FROM TIME TO TIME SET-OFF AND APPLY ANY AND ALL DEPOSITS (TIME OR DEMAND AND REGARDLESS OF THE CURRENCY(IES) THEREOF) AT ANY TIME HELD AND OTHER INDEBTEDNESS AT ANY TIME OWING BY THE BANK TO OR FOR THE CREDIT OR THE ACCOUNT OF THE CUSTOMER (“BANK OBLIGATIONS”) AGAINST OR OTHERWISE PURSUE COLLECTION OF ANY AND ALL OF OBLIGATIONS OF THE CUSTOMER THEN DUE AND PAYABLE TO THE BANK IRRESPECTIVE OF WHETHER OR NOT THE BANK SHALL HAVE MADE ANY DEMAND UNDER THIS AGREEMENT AND ALTHOUGH, IN THE CASE OF SET OFF, THE BANK OBLIGATIONS MAY BE UNMATURED (SUCH BANK OBLIGATIONS SHALL BE DEEMED TO HAVE MATURED UPON ANY SUCH SET-OFF AND THE BANK IS HEREBY AUTHORIZED TO TERMINATE AND WITHDRAW SUCH DEPOSITS, FOR AND ON BEHALF OF THE CUSTOMER) WITHOUT REGARD TO THE ORIGINAL MATURITY THEREOF. THE BANK AGREES PROMPTLY TO NOTIFY THE CUSTOMER ANY SUCH SET-OFF AND APPLICATION.
Set-off a. The Bank is entitled at any time and upon notice to the Customer to combine or consolidate any balances standing to the credit of any of the Customer’s account with the Bank (no matter in the name of the Customer solely or in the name of the Customer and any other people jointly) and set off, debit withhold and/or transfer any sum thereof in or towards satisfaction of any of the obligations, indebtedness and liabilities owed by the Customer to the Bank in whatever capacity, whether actual or contingent or joint or several (including, without limitation, any amount owed by the Customer under Clauses 12.15 and 19.03), in whatever place of payment, in whichever branch or whatever currency in connection with the obligations of the two parties. Where set-off requires the conversion of one currency into another, such conversion shall be calculated at the Exchange Rate at the time of Set-off. If the liability is not determined, the Bank may examine and calculate it in accordance with the information kept by the Bank and set it off.
b. If different currencies are concerned in the above-mentioned creditor’s rights and obligor’s liabilities, the Bank may convert at the rate lawfully publicized at the time of set-off.
c. If any liabilities mentioned in the above paragraph remain unsettled, the Bank may calculate the liabilities, using the information it kept as reference.
Set-off. The Bank may, at any time without prior notice, apply or consolidate any credit balance in any accounts of the Borrower (whether in the name of the Borrower solely or jointly with other(s)) maintained with the Bank towards setting off against and in full or partial satisfaction of any Borrower’s indebtedness to the Bank, including any outstanding Loan. In the event that the money in those accounts has to be converted into any other currency for the purpose aforesaid, the Bank may effect such conversion at the exchange rate conclusively determined by the Bank at the time of conversion. The Borrower hereby agrees and confirms that if at any time and for any reason the Bank determines that it shall be required by any applicable law or regulations, or other obligations imposed on the Bank by any governmental or regulatory authority in or outside Hong Kong to make any deduction or withholding from any payments payable to the Borrower by the Bank (whether as principal or as agent for a third party or otherwise), the Bank shall be entitled to make such deduction or withholding without consent or further reference to the Borrower. The Bank shall not be required to increase any payment in respect of which it makes such a deduction or withholding or otherwise compensate the Borrower of the payment for that deduction or withholding or be liable for any losses that the Borrower may incur by reason of such withholding or deduction. The Bank’s determination of the applicability of such withholding or deduction requirement under the applicable law or regulation , or other obligations imposed on it by any governmental or regulatory authority in or outside Hong Kong shall be binding on the Borrower and pending the Bank’s determination, the Bank has the absolute discretion to deposit any such monies into a sundry or other account and/or retain such monies in such manner as the Bank deems appropriate.
Set-off. 12.1 The Bank may, without noticing the Customer and (if non-personal Customer) Authorised Person, at any time combine and consolidate any credit balance on any account of the customer and any account of each Authorised Person (whether separately in the name of the Customer or such Authorised Person or jointly in the name of Customer or Authorised Person and any other person), under these Terms and Conditions in whatever capacity and whether actual or contingent or whether owed solely by the Customer or such Authorised Person (where applicable) or by the Customer or such Authorised Person (where applicable) and any other person, the Bank may set-off any due obligations owed by the Customer and (if non-personal Customer) Authorised Person to the Bank with those obligations owed by the Bank to the Customer and (if non-personal Customer) (if such obligations are not due, the Bank may take any action to bring the due date forward.
12.2 If there are different currencies concerned in the creditor’s rights and indebtedness in reference of 12.1, the Bank may convert the indebtedness according to the foreign exchange rate legally publicized at the time of setting-off.
Set-off. (a) In addition and without prejudice to any general or banker's lien, right of set-off or similar right to which the Lender may be entitled, the Lender shall have the right and is authorised from time to time and at any time without prior notice to the Borrower to set-off and appropriate and apply any credit balance on any of the Borrower's accounts (whether subject to notice or not and whether matured or not) with the Lender and/or any other money at any time held or owing by the Lender or its nominee (in whatever capacity) to or for the credit or account of the Borrower, and/or to which the Borrower is beneficially entitled, against or on account of the Borrower's obligations and liabilities hereunder, whether actual or contingent.
(b) Where such combination, set-off or transfer requires the conversion of one currency into another (whether by one or multiple transaction(s), after such combination, set-off or transfer or otherwise), such conversion shall be calculated at the Lender's then prevailing spot rate of exchange (as conclusively determined by the Lender) for purchasing the currency in which the moneys, obligations or liabilities were due owing or incurred with the existing currency so converted.
Set-off. 12.1 Set Off
Set-off. 16.1 Bank or the Branch may at any time and without prior notice to Client combine or consolidate any balance standing to the credit of any of Client’s Accounts with Bank or the Branch and set off any matured obligation owed by Client to Bank or the Branch against any obligation (if such obligation has not matured, Bank or the Branch may take any action to move up the maturity date) owed by Bank or the Branch to Client regardless of the place of payment and the Branch through which Bank or the Branch is acting or the currency of either obligation.
16.2 If the obligations referred to in Clause 16.1 above are in different currencies, Bank may convert either obligation at the applicable rate of exchange publicized by Bank in accordance with applicable laws at the time of set-off.
16.3 If any obligation referred to in Clause 16.1 above is unascertainable, Bank may set off in an amount calculated on the basis of the documents and materials kept by Bank.
Set-off. CNX136-R3(YX) 12-14 12/15E
a. The Bank is entitled at any time and upon notice to the Customer to combine or consolidate any balances standing to the credit of any of the Customer’s account with the Bank (no matter in the name of the Customer solely or in the name of the Customer and any other people jointly) and set off, debit withhold and/or transfer any sum thereof in or towards satisfaction of any of the obligations, indebtedness and liabilities owed by the Customer to the Bank in whatever capacity, whether actual or contingent or joint or several (including, without limitation, any amount owed by the Customer under Clauses 12.15 and 19.03), in whatever place of payment, in whichever branch or whatever currency in connection with the obligations of the two parties. Where set-off requires the conversion of one currency into another, such conversion shall be calculated at the Exchange Rate at the time of Set-off. If the liability is not determined, the Bank may examine and calculate it in accordance with the information kept by the Bank and set it off.
b. If different currencies are concerned in the above-mentioned creditor’s rights and obligor’s liabilities, the Bank may convert at the rate lawfully publicized at the time of set-off.
c. If any liabilities mentioned in the above paragraph remain unsettled, the Bank may calculate the liabilities, using the information it kept as reference.
Set-off. FM 10 (2023/09)