Combination of Accounts Sample Clauses
The Combination of Accounts clause allows a financial institution to consolidate multiple accounts held by a customer for the purpose of determining the overall balance or settling obligations. In practice, this means that if a customer has several accounts—such as checking, savings, or loan accounts—the bank can combine the balances of these accounts to offset debts or enforce rights of set-off. This clause is primarily used to manage risk and ensure that the institution can recover amounts owed by the customer by utilizing available funds across all accounts, thereby reducing the likelihood of unpaid debts.
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Combination of Accounts. Where the Client so requests in writing:
(a) PKF Capital may treat Accounts as single Account
Combination of Accounts. The Borrower agrees that the Bank has the right, particularly if an Event of Default has occur, without any notice to the Borrower, to combine, consolidate or merge all or any number of the Borrower's accounts with the Bank anywhere whether in or outside Malaysia (whether savings, current, deposit, loan or any other account of any nature whatsoever, whether due or not, whether subject to notice or not, whether in Ringgit Malaysia or in any other currency and whether in the Borrower's name alone or in the joint names of the Borrower and another person(s) including accounts in the name of the Bank. The Bank also have the right after giving the Borrower seven (7) days’ notice, to set-off or transfer any sum standing to the credit of any one or more of such accounts in or towards satisfaction of the Indebtedness or any part thereof whether present or future, actual or contingent, primary or collateral, or joint or several.
Combination of Accounts. The Bank shall be entitled (but shall not be obliged) at any time at its absolute discretion and without notice to the Borrower to combine or consolidate or merge all or any of its accounts and liabilities with and to the Bank anywhere whether in or outside Malaysia whether singly or jointly with any other person and may transfer or set off any sums in credit in such accounts in or towards satisfaction of any of the Indebtedness or the Borrower’s liabilities whether actual or contingent, primary or collateral notwithstanding that the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency and the Bank is hereby authorised to effect any necessary conversions at the Bank’s own rate of exchange then prevailing. The Bank shall not be liable for any loss or damage arising from the operation of this sub-section.
Combination of Accounts. As between each ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company and the Client, a ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company may, at any time following an Event of Default, without notice to the Client combine, consolidate or merge all or any of the Accounts with that ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company with any Liabilities owed to that ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company and may set off any amount standing to the credit of any such Accounts in or towards satisfaction of any of the Client's Liabilities to that ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company. Each ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company may do so notwithstanding that the balances on such Accounts and the Liabilities may not be expressed in the same currency and a ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company is hereby authorised to effect any necessary conversions in accordance with paragraph K.4..
Combination of Accounts. The Customer agrees that the Bank has the right, particularly if an Event of Default has occur, without any notice to the Customer, to combine, consolidate or merge all or any number of the Customer's accounts with the Bank anywhere whether in or outside Malaysia (whether savings, current, deposit, financing or any other account of any nature whatsoever, whether due or not, whether subject to notice or not, whether in Ringgit Malaysia or in any other currency and whether in the Customer's name alone or in the joint names of the Customer and another person(s) including accounts in the name of the Bank. The Bank also have the right after giving the Customer seven (7) days’ notice, to set-off or transfer any sum standing to the credit of any one or more of such accounts in or towards satisfaction of the Indebtedness or any part thereof whether present or future, actual or contingent, primary or collateral, or joint or several.
Combination of Accounts. The Guarantor authorises PHF without notice and in its discretion to apply credit balances in any account of the Guarantor with PHF towards satisfaction of any amount then payable by the Guarantor under this deed.
Combination of Accounts. Where the Client so requests in writing:
(a) Velocity Trade may treat Accounts as single Account
Combination of Accounts. Where the Client so requests in writing:
(a) Direct Markets Africa may treat Accounts as single Account
Combination of Accounts. Where the Client so requests in writing:
(a) Velocity Trade may treat Accounts as single Account Velocity Trade may in its discretion agree to treat each of the Client’s Accounts as one Account;
(b) References to Account if it does so, all references to the Account in this Agreement are to the Client’s Accounts as so aggregated; and
(c) When request takes effect that request, if agreed to by Velocity Trade, takes effect on the date notified to the Client by Velocity Trade, which is to be no later than five Business Days from the date of actual receipt of the request by Velocity Trade.
Combination of Accounts. In addition to any general lien, right to combine accounts, right to set-off or other right which it may at any time have, the Lender shall have the right at any time or times, without notice to the relevant Chargor, to combine or consolidate all or any accounts which it then has in relation to such Chargor (in whatever name) and any Secured Liabilities owed by such Chargor to the Lender, and/or to set- off or transfer any amounts standing to the credit of one or more accounts of such Chargor in or towards satisfaction of any Secured Liabilities owed to the Lender on any other account or otherwise.