Examples of Underlying Principal in a sentence
We will assume that you are acting as principal unless you specifically notify us that you are acting as an agent for an Underlying Principal or in another capacity.
Where you have notified us that you are acting on behalf of an Underlying Principal, we may at any time request you to inform us of the identity, address and any other details which we require in respect of such Underlying Principal.
Until you specify an Underlying Principal Account you will be liable in respect of the relevant transaction.
If an Event of Default occurs in respect of an Underlying Principal, our rights will be limited to the relevant Underlying Principal Account(s).
We will not exercise any power to consolidate accounts or set off amounts owing between Underlying Principal Accounts relating to different Underlying Principals where you have identified to us the Underlying Principal for each account.