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A communication sent by post shall be deemed to have been received by the Depositor and/or the Customer on the second day after posting notwithstanding that it may be returned by the post office undelivered and a communication sent by telex, facsimile or telegram shall be deemed to have been received by the Depositor and/or the Customer at the time of despatch.


A statement signed by an authorised officer of the Bank stating the date upon which any demand or notice was posted shall in the absence of manifest error be prima facie evidence of the date upon which that demand or notice was posted.


Notices, certificates and other correspondence required to be given to the Bank shall be sent to the Bank’s address specified in the letter of offer (or to such other address as may from time to time be given by the Bank for the purpose). Any such notice shall be deemed to have been given, sent, served or received at the time of acknowledgement of receipt by a duly authorised officer of the Bank.


Personal service of any writ of summons or other originating process or sealed copy thereof pleadings or other documents may be effected on the Depositor and/or the Customer by leaving the same at the place of business or abode or the Depositor’s and/or the Customer’s address in Singapore last known to the Bank and the Depositor and the Customer irrevocably confirm that service of such writs of summons originating process pleadings or documents in the manner aforesaid shall be deemed good sufficient personal service on the Depositor and/or the Customer to whom it has been addressed.

18.Every provision and each part thereof contained in this Letter of Set-Off and Guarantee shall be severable and distinct from every other such provision and if at any time any one or more parts thereof is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining such provisions or part provisions shall not in any way be affected thereby.


The Bank may assign or otherwise dispose of its rights and interests under this Letter of Set-Off and Guarantee without the consent of, or notice to, the Depositor and pursuant thereto the Bank is hereby irrevocably authorised to disclose to any party such information about the Depositor (including particulars of the Deposits) as the Bank shall consider appropriate. The Depositor may not assign or transfer any of its rights, benefits or obligations under this Letter of Set-Off and Guarantee without the prior consent of the Bank in writing.

19A.The Depositor hereby expressly and irrevocably permits and authorises the Bank and the Bank’s officers to disclose, reveal and divulge at any time in such manner and under such circumstances as the Bank deems necessary or expedient in its sole discretion without prior reference to the Depositor any and all information and particulars relating to and in connection with the Depositor, any and all of Depositor’s accounts with the Bank (whether held alone or jointly), the Depositor’s credit standing and financial position, any transactions or dealings between the Depositor and the Bank, and/or this Letter of Set-Off and Guarantee, to any person at any time and from time to time, including but not limited to:-


any person who may enter into a contractual relationship with the Bank;


any of the Bank’s subsidiaries, branches, agents, correspondents, agencies or representative offices;


the Bank’s auditors and professional advisors including its solicitors;

OCBC Legal / Sep 2009

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