Common use of Card Cancellation Clause in Contracts

Card Cancellation. You may cancel a Card and a Cardholder’s Account by providing notice to ATB. We may require any cancellation to be done in writing. ATB has the right at any time at its sole option and discretion without notice to anyone, to cancel any Card and to cancel or withdraw all rights or privileges in respect of a Card, a Cardholder’s Account, or the Card Account. If the Debt outstanding on a Cardholder’s Account exceeds the Card Limit for that Card, ATB may, but is not required to, suspend use of the Card and the Cardholder Account until such time as the Debt for the Cardholder Account is within the applicable Card Limit. If the Debt outstanding on the Card Account exceeds the Business Credit Limit, ATB may, but is not required, to suspend use of all Cards, each Cardholder Account and the Card Account until such time as the Debt for the Card Account is within the Business Credit Limit. If a Card is cancelled or suspended: a) The applicable Cardholder will cease to be entitled to the Card benefits; b) The Card shall immediately be returned to ATB; c) ATB may inform businesses honouring the Card that it has been revoked or cancelled; d) The Business and each Owner shall continue to be jointly and severally (and in Quebec solidarily) liable for all Debt charged to the Cardholder Account incurred through the use of any such Card or Cheques made prior to the time the Card and Cheques are returned to ATB; and e) You must notify any service providers who have authorization to charge transactions to the Cardholder Account of the Card cancellation. Although an account may be closed, you will continue to be liable for any pre- authorized payment arrangement(s) which may still be charged to the Cardholder Account. The rights of ATB in this Section 7.3 are in addition to the rights of ATB upon a Default Event. If a Card is cancelled or suspended, ATB shall not be liable for, and you release ATB from, any loss, costs, or damages due to Card privileges being cancelled.

Card Cancellation. You may cancel a Card and a Cardholder’s Account by providing written notice to ATB. We may require any cancellation to be done in writing. ATB has the right at any time at its sole option and discretion without notice to anyone, to cancel can- cel any Card and to cancel or withdraw all rights or privileges in respect of a Card, a Cardholder’s Account, or the Card Account. If the Debt outstanding on a Cardholder’s Account exceeds the Card Limit for that Card, ATB may, but is not required to, suspend use of the Card and the Cardholder Account until such time as the Debt for the Cardholder Account is within the applicable Card Limit. If the Debt outstanding on the Card Account exceeds the Business Credit Limit, ATB may, but is not required, to suspend use of all Cards, each Cardholder Account and the Card Account until such time as the Debt for the Card Account is within the Business Credit Limit. If a Card is cancelled or suspended: a) The applicable Cardholder will cease to be entitled to the Card benefits;, b) The Card shall immediately be returned to ATB; c) ATB may inform businesses honouring the Card that it has been revoked or cancelled; d) The Business and each Owner You shall continue to be jointly and severally (and in Quebec solidarily) liable for all Debt charged to the Cardholder Account incurred through the use of any such Card or Cheques made prior to the time the Card and Cheques are returned to ATB; and e) You must notify any service providers who have authorization to charge transactions to the Cardholder Account of the Card cancellation. Although an account may be closed, you will continue to be liable for any pre- pre-authorized payment arrangement(s) which may still be charged to the Cardholder Account. The rights of ATB in this Section 7.3 are in addition to the rights of ATB upon a Default Event. If a Card is cancelled or suspended, ATB shall not be liable for, and you release ATB from, any loss, costs, or damages due to Card privileges being cancelled.

Card Cancellation. You may cancel a Card and a Cardholder’s Account by providing notice to ATB. We may require any cancellation to be done in writing. ATB has the right at any time at its sole option and discretion without notice to anyone, to cancel any Card and to cancel or withdraw all rights or privileges in respect of a Card, a Cardholder’s Account, or the Card Account. If the Debt outstanding on a Cardholder’s Account exceeds the Card Limit for that Card, ATB may, but is not required to, suspend use of the Card and the Cardholder Account until such time as the Debt for the Cardholder Account is within the applicable Card Limit. If the Debt outstanding on the Card Account exceeds the Business Credit Limit, ATB may, but is not required, to suspend use of all Cards, each Cardholder Account and the Card Account until such time as the Debt for the Card Account is within the Business Credit Limit. If a Card is cancelled or suspended: a) The applicable Cardholder will cease to be entitled to the Card benefits; b) The Card shall immediately be returned to ATB; c) ATB may inform businesses honouring the Card that it has been revoked or cancelled; d) The Business and each Owner shall continue to be jointly and severally (and in Quebec solidarily) liable for all Debt charged to the Cardholder Account incurred through the use of any such Card or Cheques made prior to the time the Card and Cheques are returned to ATB; and e) You must notify any service providers who have authorization to charge transactions to the Cardholder Account of the Card cancellation. Although an account may be closed, you will continue to be liable for any pre- pre-authorized payment arrangement(s) which may still be charged to the Cardholder Account. The rights of ATB in this Section 7.3 are in addition to the rights of ATB upon a Default Event. If a Card is cancelled or suspended, ATB shall not be liable for, and you release ATB from, any loss, costs, or damages due to Card privileges being cancelled.