Common use of Cancellation Prior to the Maturity Date Clause in Contracts

Cancellation Prior to the Maturity Date. If the deposit is cancelled prior to the maturity date for any reason that the Bank deems justifiable or for provisions set forth in Article 10, Paragraph 2 to Paragraph 4 of the “Common Customer Agreement on PowerFlex Transaction”, the Bank shall calculate the interest thereon on a simple interest basis at the Bank-designated rates depending on the deposit term, based on the number of days from the deposit date (or, in case of the renewal, the last renewal date) up to the day immediately preceding the cancellation date, and shall pay the same together with this deposit.

Cancellation Prior to the Maturity Date. The deposit cannot be cancelled before the maturity date except for cases where the Bank deems justifiable. If the deposit is cancelled prior to the maturity date for any reason that the Bank deems justifiable or for provisions set forth in Article 10, Paragraph 2 to Paragraph 4 of the “Common Customer Agreement on PowerFlex Transaction”, the Bank shall calculate the interest thereon on a simple interest basis at the Bank-designated rates depending on the deposit term, based on the number of days from the deposit date (or, in case of the renewal, the last renewal date) up to the day immediately preceding the cancellation date, and shall pay the same together with this deposit.