TNAG-1769-FCO40-2523-Hong-Kong-mergers-involving-banks-and-other-financial-instit-1988 — Page 134

XEROX TELECOPIER 495 20- 5-88;11:42AM

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852 5 810 8133→

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MAY.20 '88 18:52 LINKLATERS & PAINES HK 5-8108133

P.009

'customer" means any person having a banking account or other dealing, transaction or arrangement with Rainier in connection with the Hong Kong

undertaking;

"Daiwa" means The Daiwa Bank, Limited;

"existing" means cxisting, outstanding or in force

Immediately before the appointed day;

"Hong Kong undertaking" means the business of the nine

Hong Kong branches of Rainier and all existing property and liabilities of Rainier of whatsoever nature pertaining thereto or which are derived therefrom, but excluding:

(1) the cash sum to be repaid from the llong Kong undertaking to Rainier pursuant to the provisions of the Agreement;

(ii) the issued shares in the capital of Rainier International Finance Company Limited;

(iii) the business of the home office of Rainier and of the branches of Rainier outside Hong Kong and all existing property and Itabilities of Rainier of whatsoever nature pertaining thereto or derived therefrom; and

(iv) documents required to be kept by Rainier pursuant to the provisions of the Companies Ordinance;

"liabilities" includes duties and obligations of every

description (whether present or future, actual or contingent);

"property" means property and assets of every description

and rights of every description (whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description;

"Rainier" means Rainier International Bank;

"security" Includes a mortgage or charge (whether legal

or equitable), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructiva), hypothecation, assignment by way of security, indemnity, right of set-off, undertaking or other means of securing payment or discharge of a iiability (whether present or future, actual or contingent);

"will" includes a codicil and any other testamentary

writing.

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