Inactive or Dormant Account Sample Clauses

Inactive or Dormant Account. At your sole discretion, you may impose charges, amount of which is reasonable, against my Account to cover maintenance costs in the event that my Account is classified as Inactive, or has no trading transaction(s) for more than one (1) year. If my Account is classified as Dormant, or has no trading transaction(s) for more than three (3) years, you have the right to (a) uplift securities (in order to obtain physical certificate(s)) at my expense, and if needed, (b) sell-out enough securities to pay for: maintenance costs owed to you, upliftment charges, mailing costs and other expenses, and (c) return the certificates and remaining funds to me through any of my last known addresses. Should any or all of these foregoing measures fail, I agree that you will then (d) turn over the assets remaining in my Account to the SEC (as per SRC 52.1-8F) or (e) do otherwise as instructed by regulators.

Inactive or Dormant Account. At your sole discretion, you may impose charges, an amount of which is reasonable, against my/our Account to cover maintenance costs in the event that my/our Account is classified as Inactive or has no trading transaction(s) for more than one (1) year. If my/our Account is classified as Dormant or has no trading transaction(s) for more than three (3) years, you have the right to (a) uplift securities (in order to obtain a physical certificate(s)) at my/our expense, and if needed, (b) sell-out enough securities to pay for maintenance costs owed to you, upliftment charges, mailing costs, and other expenses, and (c) return the certificates and remaining funds to me/us through any of my last known addresses.

Inactive or Dormant Account. The Client acknowledges and confirms that any trading account(s), held at the Company by a Client where the Client has: a) not placed a trade; b) opened or closed positions; and/or c) made a deposit into the Clients trading account; for over a period of twelve (12) calendar months, shall be classified by the Company as an Inactive or Dormant (“Inactive Account” or “Dormant Account”). Where the Client has and continues to: a) place a trade; b) open or close positions; and/or c) made a deposit into the Clients trading account; the account shall be classified by the Company as an Active Account (”Active Account”). The Client further acknowledges and confirms that such Inactive Accounts will be subject to a monthly inactivity fee charged in the account’s currency as follows: USD5, EURO5, CZK110. The charge is relating to the maintenance/administration of such Inactive Accounts. A monthly inactivity fee is debited from the assets until the assets are used up. After the period of twelve months and if no login is detected on a continuous basis inactivity fees may be increased over time. It is noted that the inactivity amount will be charged / deducted in the currency of the trading account. The deduction will take place on the last day of every month, until the balance of the Dormant Account has reached zero (0). Where the Client had more than one (1) trading accounts and at least one of his/her trading accounts was active, then no inactivity fee applied even where one or more of the client’s trading accounts was deemed inactive. Dormant Accounts with a zero (0) balance will be de-activated and will be archived. For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client’s wish to reactivate the Dormant Account. The Client’s Dormant Account will then be reactivated (subject to, if required, up-to-date Know Your Client documentation provided to the Company by Client) and become an Active Account. However, where the Client has not done the following with the Active Account: a) place a trade; b) open or close positions; and/or c) made a deposit into the Clients trading account; for over a period of twelve (12) calendar months and more, then this account will once again become a Dormant Account. All trading accounts receiving the status “dormant” are notified via email from the Back-office department which in turn will inform the account holders about their status and of all potential inactive fees which may apply to their ac...