Certification of application of Credit Balances. A certificate signed by a director or other senior officer of the Lender and which states that a notice of set-off of which a copy is attached to the certificate was served (or under Clause 7 is deemed to have been served) by the Lender on the Borrower and the New Owners on a specified date, and (if the certificate also states this) at or before a specified time, shall be conclusive evidence that the liabilities of the Account Bank in respect of the Credit Balances, and the Secured Liabilities, which were referred to in the notice were extinguished and discharged on the specified date and (if the certificate so states) at or before the specified time.
Appears in 1 contract
Certification of application of Credit Balances. A certificate signed by a director or other senior officer of the Lender and which states that a notice of set-off of which a copy is attached to the certificate was served (or under Clause 7 is deemed to have been served) by the Lender on the Borrower and the New Owners on a specified date, date and (if the certificate also states this) at or before a specified time, time the Lender exercised its rights under this Clause 2 to appropriate a specified amount of Credit Balance on a specified Account in the discharge of a specified amount of the then outstanding Secured Liabilities shall be conclusive evidence that the liabilities of the Account Bank in respect of the specified amount of the Credit Balances, Balance on the specified Account and the specified amount of Secured Liabilities, which were referred to in the notice Liabilities were extinguished and discharged on the specified date and (and, if the certificate so states) stated, at or before the specified time.
Appears in 1 contract