Common use of PAYMENTS AND SET-OFF Clause in Contracts

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [17Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 18[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each The Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and 17and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 18and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and 19and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. 20[The Customer, as agreed by the members, will prepare its financial statements in accordance with the Statement of Recommended Practice Accounting by Limited Liability Partnerships and will include a note that, "The members of the LLP have agreed that (a) loans and other debts due to members, (b) members' other interests (including capital and reserves) and (c) any members’ residual interests will rank behind all amounts due to non-members in the administration or winding up of the LLP. This agreement cannot be revoked by the members and may be enforced by creditors".] The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [17Financial 21Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1822[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 23[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and 23and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 24and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and 25and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. When requested by the Customer, the Bank will supply the Customer with a copy of this Agreement free of charge. [17Financial 26Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1827[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 28[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Financial Information and Changes to Accounts Each The Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and 12and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 13and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts incorporating [16and  ] [14and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. 15[The Customer, as agreed by the members, will prepare its financial statements in accordance with the Statement of Recommended Practice Accounting by Limited Liability Partnerships and will include a note that, "The members of the LLP have agreed that (a) loans and other debts due to members, (b) members' other interests (including capital and reserves) and (c) any members’ residual interests will rank behind all amounts due to non-members in the administration or winding up of the LLP. This agreement cannot be revoked by the members and may be enforced by creditors".] The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its the Customer’s business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [17Financial 16Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1817[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 18[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. 6.00 p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and 22and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 23and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and 24and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. When requested by the Customer, the Bank will supply the Customer with a copy of this Agreement free of charge. [17Financial 25Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1826[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 27[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each The Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements statements, audited unless otherwise agreed by the Bank [14and 22and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 23and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts incorporating [16and  ] [24and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. When requested by the Customer, the Bank will supply the Customer with a copy of this Agreement free of charge. [17Financial 25Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1826[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 27[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and 17and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and 18and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and 19and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [17Financial 20Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1821[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 22[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.

PAYMENTS AND SET-OFF. The Bank may apply all amounts due to an account of the Customer with the Bank, even if it causes that account to be overdrawn or exceed any limit. The Bank may set off any amount due to the Bank under this Agreement against any amount owing by the Bank to the Customer. The Bank may exercise this right, without prior notice, both before and after demand. Information and Changes to Accounts Each The Customer will provide the following Financial Information within the specified number of days from the end of the period to which it relates: its annual financial statements [14and the consolidated financial statements of its parent], audited unless otherwise agreed by the Bank, within [ ] days. its half-yearly financial statements [15and the consolidated half-yearly financial statements of its parent] within [ ] days. its [ ] management accounts [16and the [ ] consolidated management accounts of its parent] incorporating [ ] within [ ] days. 17[The Customer, as agreed by the members, will prepare its financial statements in accordance with the Statement of Recommended Practice Accounting by Limited Liability Partnerships and will include a note that, "The members of the LLP have agreed that (a) loans and other debts due to members, (b) members' other interests (including capital and reserves) and (c) any members’ residual interests will rank behind all amounts due to non-members in the administration or winding up of the LLP. This agreement cannot be revoked by the members and may be enforced by creditors".] The Customer will ensure that all Financial Information is prepared consistently and in accordance with generally accepted accounting standards and that any management accounts are in a form acceptable to the Bank. The Customer will promptly provide any further information regarding its business or financial condition as the Bank may reasonably request, including audited financial statements if not already provided. A request to add or remove an Account must be in writing. The Bank may refuse a request. [17Financial 18Financial Performance The Financial Information will be required to demonstrate for the period to which it relates that: [ ] In this Agreement: 1819[ ]] Notices All consents, notices and demands must be in writing. The Bank may deliver a notice or demand to the Customer at 19[the 20[the Address for Service or] the contact details last known to the Bank. A notice or demand by the Bank will be effective at the time of personal delivery; on the second business day after posting; or, if by fax, at the time of sending, if sent before 6.00p.m. on a business day, or otherwise on the next business day. A notice from the Customer to the Bank must be addressed to the Customer's Relationship Manager and will be effective on receipt.