Lien and set Sample Clauses
The 'Lien and set' clause grants a party the right to retain possession of another party's property or funds as security for the fulfillment of obligations, and to offset any debts owed between the parties. In practice, this means that if one party owes money or has not met contractual obligations, the other party can hold onto assets or apply amounts due to them against what is owed. This clause serves to protect parties from non-payment or default by providing a legal mechanism to secure and recover outstanding debts.
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 ---------------- To secure payment of any indebtedness of the Borrower under this Agreement and all the Borrower's other liabilities to the Bank, the Borrower grants to the Bank a continuing security interest in all securities and other property of the Borrower in the custody, possession or control of the Bank and all balances of deposit accounts of the Borrower with the Bank. The Bank shall have the right upon occurrence of an event described in Section 11 hereof to apply its own debt or liability to the Borrower, or to any other party liable for payment under this Agreement, in whole or partial payment of the Borrower's indebtedness or its other present or future liabilities to the Bank, without any requirement of mutual maturity. /s/▇▇▇ /s/AHG ------------ ------------ INITIAL INITIAL (Bank) (Borrower)
Lien and set off
25.1 Lien for your obligations 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 Appropriation of Securities In enforcing our lien, we shall have the right to determine which Securities and properties are to be sold, and to apply the proceeds of sale, after deduction of expenses, to satisfy any indebtedness and obligations owed by you to us.
25.3 Set-off 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.