Common use of Exit Procedure Clause in Contracts

Exit Procedure. (a) The Customer will provide J.X. Xxxxxx full details of the persons to whom J.X. Xxxxxx must deliver Account Assets within a reasonable period before the effective time of termination of this Agreement. If the Customer fails to provide such details in a timely manner, J.X. Xxxxxx shall be entitled to continue to be paid fees under this Agreement until such time as it is able to deliver the Account Assets to a successor custodian, but J.X. Xxxxxx may take such steps as it reasonably determines to be necessary to protect itself following the effective time of termination, including ceasing to provide transaction settlement services in the event that J.X. Xxxxxx is unwilling to assume any related credit risk.

Exit Procedure. (a) The Customer will provide J.X. X.X. Xxxxxx full details of the persons to whom J.X. X.X. Xxxxxx must deliver Account Assets within a reasonable period before the effective time of termination of this Agreement. If the Customer fails to provide such details in a timely manner, J.X. X.X. Xxxxxx shall be entitled to continue to be paid fees under this Agreement until such time as it is able to deliver the Account Assets to a successor custodian, but J.X. X.X. Xxxxxx may take such steps as it reasonably determines to be necessary to protect itself following the effective time of termination, including ceasing to provide transaction settlement services in the event that J.X. X.X. Xxxxxx is unwilling to assume any related credit risk.