Common use of Set Off and Consolidation Clause in Contracts

Set Off and Consolidation. The Bank may at any time and without prior notice or demand combine or consolidate any and all account(s) maintained by: (i) the Business Cardmember with the Bank (in Singapore or elsewhere) and/or set off or transfer any sum in any of such account(s) in or towards the discharge or payment of any monies due to the Bank from the Business Cardmember; (ii) the Cardholder with the Bank (in Singapore or elsewhere) and/or set off or transfer any sum in any of such account(s) in or towards the discharge or payment of any monies due to the Bank from the Cardholder.

Appears in 3 contracts

Sources: Ocbc Cardmembers Agreement (Business), Ocbc Cardmembers Agreement (Business), Ocbc Cardmembers Agreement (Business)