Common use of DEFAULT BY THE PARTICIPANT Clause in Contracts

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (d) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (e) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (f) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d) or (f). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant shall be informed of any decision in writing. 9.4 Where the Service Provider has taken any action under Clause 9.1, the Participant shall be liable for the fees and charges up to the date of suspension or termination.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up up; (c) is placed under judicial management pursuant to a judicial management order of the court or a resolution passed under section 94(11) of the Insolvency, Restructuring and Dissolution Xxx 0000; (d) has a receiver or receiver and manager appointed; (ce) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (df) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (eg) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (fh) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d), (e), (f), (g) or (fh). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant Service Provider shall be informed notify the Participant, all other participants and where applicable, the Clearing House, of any decision in writingas soon as practicable. 9.4 Where In the event that the Service Provider has taken suspends the provision of any action or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.19.1(a), (f), (g) or (h), the Participant shall transactions as set out in Rule 26.3 of the Rules may nonetheless be liable for carried out by the fees and charges up to the date of suspension or terminationService Provider at its sole discretion.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (d) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (e) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (f) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d) or (f). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant Service Provider shall be informed notify the Participant, all other participants and where applicable, the Clearing House, of any decision in writingas soon as practicable. 9.4 In the event that the Service Provider suspends the provision of any or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.1 (a), (d), (e) or (f), the transactions as set out in Rule 26.3 of the Rules may nonetheless be carried out by the Service Provider at its sole discretion. 9.5 Where the Service Provider has taken any action under Clause 9.1, the affected Participant shall be liable for the fees and charges up to the date of suspension or termination. 9.6 Where the Service Provider has suspended the provision of any or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.1 (a), (d), (e) or (f), the affected Participant shall be liable for the fees and charges relating to any transaction set out in Rule 26.3 of the Rules.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (d) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (ed) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (fe) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d) or (f). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant shall be informed of any decision in writing. 9.4 9.3 Where the Service Provider has taken any action under Clause 9.1, the Participant shall be liable for the fees and charges up to the date of suspension or termination.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (d) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (e) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (f) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d) or (f). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant Service Provider shall notify the Participant, all other participants and where applicable, the Clearing House, shall be informed of any decision in writingwritingas soon as practicable. 9.4 In the event that the Service Provider suspends the provision of any or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.1 (a), (d), (e) or (f), the transactions as set out in Rule 26.3 of the Rules may nonetheless be carried out by the Service Provider at its sole discretion. 9.45 Where the Service Provider has taken any action under Clause 9.1, the affected Participant shall be liable for the fees and charges up to the date of suspension or termination. 9.6 Where the Service Provider has suspended the provision of any or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.1 (a), (d), (e) or (f), the affected Participant shall be liable for the fees and charges relating to any transaction set out in Rule 26.3 of the Rules.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (dcd) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (ede) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (fef) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d) or (f). 9.3 9.23 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant shall be informed of any decision in writing. 9.4 Where the Service Provider has taken any action under Clause 9.1, the Participant shall be liable for the fees and charges up to the date of suspension or termination.

DEFAULT BY THE PARTICIPANT. 9.1 Without prejudice to any other right or remedy that the Service Provider has or is entitled to, and notwithstanding the non-acceptance or waiver of action by the Service Provider of any previous breach on the part of the Participant, whether or not any such breach amounts to a repudiatory breach, the Service Provider may immediately (i) suspend the provision of any or all of the MEPS+ Services to the Participant, either for a time or indefinitely (and if for a time, for such time as the Service Provider may, at its sole discretion, determine), or (ii) terminate this Agreement, if the Participant: (a) defaults in paying any fee or charge or other sum due under this Agreement; (b) is being or has been wound up or has a receiver or receiver and manager appointed; (c) is placed under judicial management pursuant to a judicial management order of the court or a resolution passed under section 94(11) of the Insolvency, Restructuring and Dissolution Xxx 0000; (d) has a receiver or receiver and manager appointed; (e) enters into or has had an application made to enter into a compromise or arrangement with its creditors or any class of them, or with its members or any class of them; (ddf) has its approval pursuant to section 29A of the MAS Act withdrawn or revoked by MAS; (eeg) fails to comply with, observe or perform any of the clauses of this Agreement or the Rules, whether or not any other action is taken by the Service Provider under this Agreement or the Rules, and whether or not such failure has been determined in any such other action; or (ffh) fails to meet or fails to continue to meet, any of the access criteria. 9.2 The Participant shall immediately notify the Service Provider in writing upon the occurrence of any of the events set out under Clause 9.1(b), (c), (d), (e), (f), (g) or (ffh). 9.3 The appropriate course of action as provided for in Clause 9.1 shall be determined by the Service Provider as it may, at its sole discretion, decide, but the Participant Service Provider shall be informed notify the Participant, all other participants and where applicable, the Clearing House, of any decision in writingas soon as practicable. 9.4 Where In the event that the Service Provider has taken suspends the provision of any action or all of the MEPS+ Services to the Participant as a result of the occurrence of any of the events set out under Clause 9.19.1 (a), (d), (ef), (g) or (fh), the Participant shall transactions as set out in Rule 26.3 of the Rules may nonetheless be liable for carried out by the fees and charges up to the date of suspension or terminationService Provider at its sole discretion.