Common use of Payment of Fees and Charges Clause in Contracts

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, for example, penalties for failing to meet minimum bid amount at SGSMB auctions and fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and (e) administrative fees for Xxxxx failing to settle their cheque, Inter-Bank GIRO or FAST transaction(s) before the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the clearing of cheque, inter- Bank GIRO and FAST transactions. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, for example, penalties for failing to meet minimum bid amount at SGSMB auctions and fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and); (e) penalties for shortfalls in minimum cash balances and minimum liquid assets requirements as required under the Finance Companies Act (Cap. 108); and (f) administrative fees for Xxxxx failing to settle their cheque, Inter-Bank GIRO or FAST transaction(s) before the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the clearing of cheque, inter- inter-Bank GIRO and FAST transactions. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, for example, penalties for failing to meet minimum bid amount at SGSMB auctions and fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and (e) administrative fees for Xxxxx failing to settle their cheque, Inter-Bank GIRO or FAST transaction(s) before the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the clearing of cheque, inter- inter-Bank GIRO and FAST transactions. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, for example, penalties for failing to meet minimum bid amount at SGSMB auctions and fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and; (e) administrative fees penalties for Xxxxx failing to settle their cheque, Inter-Bank GIRO or FAST transaction(s) before shortfalls in minimum cash balances and minimum liquid assets requirements as required under the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the clearing of cheque, inter- Bank GIRO and FAST transactions. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MASFinance Companies Act (Cap. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.108); and

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, for example, penalties for failing to meet minimum bid amount at SGSMB auctions and and, fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and (e) administrative fees for Xxxxx failing to settle their cheque, Inter-Bank GIRO or FAST transaction(s) clearing obligations before the mid-day or end-of-daythe end of the respective funding period as described in the MEPS+ Operating Rules which relate to the clearing of cheque, inter- inter-Bank GIRO and FAST transactionstransactions cheque/Inter-Bank GIRO/G3 clearing cutoff times. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current AccountcCurrent aAccount, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account cCurrent aAccount of the Specified Institution in consideration of MAS continuing to operate the Current Account cCurrent aAccount for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account cCurrent aAccount to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account cCurrent aAccount of the Specified Institution for such fees and charges and for all amounts moneysamounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, transactions for example, penalties for failing to meet minimum bid amount at SGSMB auctions and auctions, fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, and minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and (e) administrative fees for Xxxxx bBanks failing to settle their clearing obligations before mid-day or end-of-day cheque, /Inter-Bank GIRO or FAST transaction(s) before the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the GIRO/G3 clearing of cheque, inter- Bank GIRO and FAST transactionscutoff times. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account cCurrent aAccount for the direct debits. 6.4 Notwithstanding any clause in the thisthe Agreement, before the Specified Institution a Party may terminate the Current AccountcCurrent aAccount, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 1513A5, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current AccountcCurrent aAccount.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees. 6.2 MAS shall also have the right, at any time, to directly debit the Current Account of the Specified Institution for such fees and charges and for all amounts due and owing to MAS, including but not limited to: (a) fees and charges relating to the operation of MEPS+, NORMS and MASNET; (b) fees and charges relating to SGSMB transactions, transactions for example, penalties for failing to meet minimum bid amount at SGSMB auctions and auctions, fees resulting from failed settlement of Enhanced Repo Facility trades; (c) licence fees; (d) penalties for shortfalls in minimum cash balances, minimum liquid assets and minimum asset maintenance requirements as required under the Banking Act (Cap. 19) and (e) administrative fees for Xxxxx failing to settle their clearing obligations before mid-day or end-of-day cheque, /Inter-Bank GIRO or FAST transaction(s) before the end of the respective funding period as described in the MEPS+ Operating Rules which relate to the GIRO/G3 clearing of cheque, inter- Bank GIRO and FAST transactionscutoff times. 6.3 The Specified Institution shall maintain sufficient funds in the Current Account for the direct debits. 6.4 Notwithstanding any clause in the Agreement, before a Party may terminate the Current Account, the Specified Institution shall be required to discharge all its liabilities, including settling payment of all outstanding expenses, fees and charges, due and owing to MAS. Without prejudice to Clause 15, MAS reserves the right to set off such liabilities against the credit balances in the Specified Institution’s Current Account.