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MAY.20 '88 18:54 LINKLATERS & PAINES HK 5-8108133
Provided that nothing in this Ordinance shall affect any right of Daiwa or of the customer to vary the conditions or incidents subject to which any account is kept.
(d) Any existing instruction, order, direction, mandate, power of attorney, authority, undertaking or consent given to Rainier (whether in writing or not and whether or not in relation to an account) shall have effect, and from the appointed day, as if given to Deiwa.
(e) Any negotiable instrument or order for payment of money drawn on or given to, or accepted or endorsed by, Rainier, or payable at any place of business of Rainier, whether so drawn, given, accepted or endorsed before, or on the appointed day, shall have the same effect on and from the appointed day, as if it had been drawn on, or given to, or accepted or endorsed by Daiwa, or were payable at the same place of business of Daiwa.
(f) The custody of any document or record, goods or other thing held by Rainier as bailee shall pass to Daiwa on the appointed day, and the rights and obligations of Rainier under any contract of bailment relating to any such document or record, goods or thing shall on that day bacome rights and obligations of Daiwa,
(g) (1) Any security held immediately before the appointed day by Rainier, or by a nominee or agent of or trustee for Rainier, as security for the payment or discharge of any liability shall, on and from the appointed day, be held by, or, as the case may require, by that nominee, agent or trustee for, Daiwa, and be available to Dalwa (whether for its own benefit or, 83 the case may be, for the benefit of any other person) as security for the payment or discharge of that liability;
(11) in relation to any security vested in Daiwa in accordance with the provisions of this Ordinance and any liabilities thereby secured, Daiwa shall be entitled to the rights and priorities and be subject to the obligations and incidents to which Rainier would have been entitled and subject if it had continued to hold the security;
(111) without prejudice to the generality of sub- paragraph (ii), in any case where any existing liability subsists between Rainier and Daiwa in respect of which Rainier or Daiwa, or a nominee or agent of or trustee for Rainier or Daiwa holds security, that liability shall, for the purpose of enforcing or realising that security, he deemed to continue in effect notwithstanding the vesting in Daiwa of the Hong Kong undertaking;
(Lv) any security referred to in sub-paragraph (i), (ii) or (iii) and which extends to future advances or liabilites shall, on and from the appointed day, be available to Daiwa (whether for its own benefit or, as the case may be, for the benefit of any other person) as security for the payment or discharge of future advances
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