All deposit account holders agree that in addition to any general lien or other similar right to which the Bank as bankers may be entitled at law, the Bank may at any time, with seven (7) calendar days prior notice, combine or consolidate all or any of their banking accounts with and the liabilities to the Bank wheresoever situate and set off or transfer any sum or sums standing in the credit of any of their deposit accounts in or towards satisfaction of any of the account holders' liabilities to the Bank whether such liabilities to the Bank be present, future, actual, contingent, primary or collateral or several or joint.
As far as the account holders' liabilities to the Bank are contingent or future, the Bank's liabilities to them to make payment of any sum(s) standing to the credit of the deposit accounts shall to the extent necessary to cover such liabilities be suspended until the happening of the contingency or future event.
Where such combination, set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated at the prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing the currency for which the account holder(s) is liable with the existing currency so converted. The Bank shall not be held liable or responsible for any loss arising as a consequence of exercising its rights hereof.