On the basis of the values and other amounts established in accordance with subparagraph ©of this Paragraph,an account shall be taken (as at the Repurchase Date determined in accordance with subparagraph (a) of this Paragraph) of the amounts owing by each party to the other under this Agreement(which amounts shall be equal,in the case of each party's claims against the other in respect of transfers of Securities,to the value of such Securities established in accordance with subparagraph ©of this Paragraph)and the amount owing by one party shall be set off and applied against the amounts owing by the other ,and only the balance of the account shall become immediately due and payable (by the party owing the greater amount pursuant to the foregoing).For the purposes of this calculation all sums not denominated in the Base Currency shall be converted into the Base Currency on the relevant date at the Spot Rate prevailing at the relevant time.
