Common use of Effect of cancellation or suspension Clause in Contracts

Effect of cancellation or suspension. Suspension or cancellation of a TRT Account does not affect the liability of the Account Holder in respect of the then current balance of the TRT Account or any other amounts owing by the Customer. Upon suspension or cancellation of a TRT Account: (a) the Account Holder will not be permitted to debit or incur any new charges on a TRT Account; (b) TRT may apply any additional charges to the suspended or cancelled TRT Account; (c) TRT will issue a final Statement in respect of the cancelled or suspended TRT Account; and (d) the Account Holder must immediately pay any amount set out in the final statement (including any interest as set out in the final statement).