Common use of Effective Date and Validity Clause in Contracts

Effective Date and Validity. 22.1 The present Terms and Conditions shall become effective upon the Client’s submission of the duly completed and signed Application and the Bank’s respective approval. The Bank’s consent is expressed by the commencement of provision of appropriate Banking Services to the Client; 22.2 Only the parts of the present Terms and Conditions which pertain to the Services indicated by the Client under the Application shall become effective together with Parts I and III; 22.3 The Terms and Conditions set out herein shall remain in force until the expiration of the Services/Products and/or Packages as defined under the present Terms and Conditions; 22.4 If the Client renews the Products/Services and/or Packages upon expiration of their respective terms, the present Terms and Conditions shall apply without any additional agreement; 22.5 If the Bank and/or the Client decide to terminate any particular Banking Service, the termination agreement shall apply only to such Service; 22.6 The Bank may at any time fully terminate the Agreement unless otherwise provided under the present Terms and Conditions (including the Paragraph concerning the closing of accounts) or the applicable Law. In such case the Bank shall send a notification to the Client no less that 1 (one) month before the termination of the Agreement; 22.7 If the Client violates a major condition of this Agreement or his/her solvency becomes doubtful, the Bank shall, upon sending a notification to the Client, refuse to provide Banking Services and terminate this Agreement, cancel the Cards, close the Client’s accounts, terminate the Banking Services provided under this Agreement (including, without any limitation, Remote Banking Service Channels) and request the Client the repayment of all outstanding liabilities before the Bank. 22.8 If the Client terminates Liberty Account Service or closes Liberty Account, the Bank may terminate any or all Services provided to the Client under the present Terms and Conditions; 22.9 The Client may terminate this Agreement at any time upon sending a written notice to the Bank no later than 1 (one) month before termination. Furthermore, if the Bank gives its approval, the Agreement may be terminated before the expiration of the term determined hereunder; 22.10 The Client acknowledges and agrees that the Agreement shall not be terminated until all continuous Transactions (including, without limitation, standing orders, direct debits, recurring transactions and prolonged authorisations issued by the Client to Merchants and which means debit of amounts from his/her Liberty Account on a regular basis) carried out from his/her account are terminated as well. 22.11 If any of the Parties decide to terminate this Agreement: a) the Client shall return to the Bank all Cards issued to the Client or Additional Cardholder(s); b) all Access Codes shall be cancelled; c) the Client shall pay the Bank all outstanding liabilities and fees provided under the Agreement; 22.12 Upon termination of the Agreement, the Client shall pay the Service fees for the period when such Services were actually provided to the Client. Furthermore, if any of the recurring fees were paid in advance, the Bank shall ensure the transfer of excessive amount back to the Client; 22.13 If the Client terminates the Agreement during the first 12 (twelve) months as of the effective date of the Agreement, the Bank may impose financial obligations to the Client in the amount not exceeding the actual costs incurred by the Bank as a result of termination of the Agreement; 22.14 Information on termination of the Agreement shall be sent to the Client (if necessary) in accordance with any of the means of communication determined under Paragraph 26 of the present Terms and Conditions.

Effective Date and Validity. 22.1 The present Terms 7.1 These TERMS AND CONDITIONS will enter into force after the CLIENT fills out, signs and Conditions shall become effective upon submits the Client’s submission of APPLICATION to the duly completed and signed Application BANK and the BankBANK’s respective approval. The Bank’s consent is expressed by the commencement of provision of appropriate Banking Services to the Clientauthorized representative signs that APPLICATION; 22.2 7.2 Only the those parts of the present Terms and Conditions TERMS AND CONDITIONS will enter into force, which pertain refer to the Services indicated services specified by the Client under CLIENT in the Application shall become effective together with Parts I and IIIAPPLICATION (or in other APPLICATIONs defined herein); 22.3 The Terms and Conditions set out herein 7.3 This AGREEMENT shall remain in force until the expiration of the Services/Products and/or Packages be valid for an indefinite term, till its termination as defined under the present Terms and Conditionsper these TERMS AND CONDITIONS; 22.4 7.4 To avoid any doubt, if the BANK or/and the CLIENT decides to discontinue any banking product services defined in this AGREEMENT, AGREEMENT on the termination shall be valid with regard to those services only; 7.5 The Bank may terminate this AGREEMENT in full at any time. In such a case, the Bank shall give at least a 30-calendar day notice to the CLIENT prior to the termination date; 7.6 If the Client renews the Products/Services and/or Packages upon expiration CLIENT fails to meet a significant provision of their respective termsthis AGREEMENT or is declared bankrupt, the present Terms BANK will reject providing services to the CLIENT by giving a relevant notice to him/her and Conditions shall apply will cancel the AGREEMENT, the CARD(s), close the CLIENT’s ACCOUNT(s), cancel the banking service under this AGREEMENT (including without limitation the REMOTE BANKING Service) and demand for full repayment by the CLIENT of any additional agreementdebts owed to the BANK; 22.5 If the Bank and/or the Client decide to terminate any particular Banking Service, the termination agreement shall apply only to such Service; 22.6 7.7 The Bank CLIENT may at any time fully terminate the Agreement unless otherwise provided under the present Terms and Conditions (including the Paragraph concerning the closing of accounts) or the applicable Law. In such case the Bank shall send a notification to the Client no less that 1 (one) month before the termination of the Agreement; 22.7 If the Client violates a major condition of this Agreement or his/her solvency becomes doubtful, the Bank shall, upon sending a notification to the Client, refuse to provide Banking Services and terminate this Agreement, cancel the Cards, close the Client’s accounts, terminate the Banking Services provided under this Agreement (including, without any limitation, Remote Banking Service Channels) and request the Client the repayment of all outstanding liabilities before the Bank. 22.8 If the Client terminates Liberty Account Service or closes Liberty Account, the Bank may terminate any or all Services provided to the Client under the present Terms and Conditions; 22.9 The Client may terminate this Agreement at any time upon sending a AGREEMENT by giving prior written notice to the Bank no later than 1 (one) month before terminationBANK. Furthermore, if the Bank gives its approval, the Agreement may be terminated before the expiration of the term determined hereunder; 22.10 The Client acknowledges CLIENT understands and agrees that the Agreement shall AGREEMENT will not be terminated until the CLIENT terminates the continuing OPERATIONS (including the Permanent Payment ORDER, repeating OPERATIONS and the continuing authorization, issued by the CLIENT to the goods or service provider implying regular charging of his/her ACCOUNT), related to the CLIENT’s ACCOUNT(s); 7.8 Where either Party decides to terminate the AGREEMENT: - All CARDS, issued by the BANK to the CLIENT or the ADDITIONAL CARD HOLDER(s), shall be returned to the BANK (the CARD will be cut along the signature and magnetic stripe); - All ACCESS CODES shall be cancelled; - The CLIENT shall pay all continuous Transactions amounts due under the AGREEMENT (including, without limitation, standing orderstaxes, direct debitsCOMMISSIONS, recurring transactions and prolonged authorisations issued by the Client to Merchants and which means debit of amounts from hisOVERDRAFT s/her Liberty Account on a regular basis) carried out from his/her account are terminated as well. 22.11 If any of the Parties decide to terminate this Agreement: a) the Client shall return unauthorized OVERDRAFT s, sums credited to the Bank all Cards issued to the Client or Additional Cardholder(sACCOUNT); b) all Access Codes shall be cancelled; c) the Client shall pay the Bank all outstanding liabilities and fees provided under the Agreement; 22.12 Upon termination of the Agreement, the Client shall pay the Service fees for the period when such Services were actually provided to the Client. Furthermore, if any of the recurring fees were paid in advance, the Bank shall ensure the transfer of excessive amount back to the Client; 22.13 If the Client terminates the Agreement during the first 12 (twelve) months as of the effective date of the Agreement, the Bank may impose financial obligations to the Client in the amount not exceeding the actual costs incurred by the Bank as a result of termination of the Agreement; 22.14 Information on termination of the Agreement shall be sent to the Client (if necessary) in accordance with any of the means of communication determined under Paragraph 26 of the present Terms and Conditions.