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Common use of Account Closure Clause in Contracts

Account Closure. You will close an Account if I (or any of us) ask you to do so. Any funds on deposit in a joint Account you are asked to close may only be withdrawn by a cheque or other withdrawal signed as required by subsection 16(c). If I use one of your Accounts in an unusual, improper or abusive manner, or not in accordance with this Agreement and the general law, you may limit the use of my Account(s) or close it or them if you deem it necessary. In Quebec, if my Account(s) is to be closed and I have not defaulted on any of my obligations, I will be provided with a 60-day prior written notice, however access to my account may be immediately limited. Payment of any funds on deposit in a joint Account you close will be made to all of us jointly.

Appears in 4 contracts

Samples: Client Agreement, Client Agreement, Client Agreement