Common use of Closing of Accounts Clause in Contracts

Closing of Accounts. I hereby authorize the Company to close any of my Accounts, without need of prior notice to and consent from me, in case my Account is mishandled, misrepresented matters concerning my identity, nature of business and/or any other pertinent information, the Account is used for illegal activities or in any other event when the continuation of the Account is not in the best interest of the Company, or as may be required by law(s) or regulation(s). In an event of closure or termination by reason of my misrepresentation, the Company shall issue a cashier’s check for the balance of my Account. In an event of closure by reason of illegal activities, the Company shall only release the balance of my Account from a lawful order of a competent court. The Company shall send by registered mail or e-mail to my last known address or e-mail address indicated in the Company’s records, notice of the closure/termination of the Account and stating the reason(s) thereof and the manner for me to claim or obtain from the Company the balance of my Account, if any, and an instruction to submit or return to the Company the original copy of the investment/stock certificate in my possession, if any. However, in case of a Company-initiated closure due to, but not limited to, opening of fictitious Account, submission of falsified/fake documents, misrepresentation, etc., the Company shall be entitled to hold the release of the funds unless and until the In ve s to r has submitted valid, legal and acceptable documents proving that he/she is entitled to the funds in the closed Account.

Closing of Accounts. I hereby authorize the Company to close any of my Accounts, without need of prior notice to and consent from me, in case my Account is mishandled, misrepresented matters concerning my identity, nature of business and/or any other pertinent information, the Account is used for illegal activities or in any other event when the continuation of the Account is not in the best interest of the Company, or as may be required by law(s) or regulation(s). In an event of closure or termination by reason of my misrepresentation, the Company shall issue a cashier’s 's check for the balance of my Account. In an event of closure by reason of illegal activities, the Company shall only release the balance of my Account from a lawful order of a competent court. The Company shall send by registered mail or e-mail to my last known address or e-mail address indicated in the Company’s 's records, notice of the closure/termination of the Account and stating the reason(s) thereof and the manner for me to claim or obtain from the Company the balance of my Account, if any, and an instruction to submit or return to the Company the original copy of the investment/stock certificate in my possession, if any. However, in case of a Company-initiated closure due to, but not limited to, opening of fictitious Account, submission of falsified/fake documents, misrepresentation, etc., the Company shall be entitled to hold the release of the funds unless and until the In ve s to r Investor has submitted valid, legal and acceptable documents proving that he/she is entitled to the funds in the closed Account.