Termination of Client Account. Either you or Cantor may terminate the account and our agreement by sending the other party prior written notice (expiring on the date specified in such notice) without In the event of death or incapacity of a client, Xxxxxx will upon receipt of written notification (which in the case of death must be in the form of a certified copy of a death certificate and in the case of incapacity must be in the form of a written legal notification determined by Xxxxxx immediately suspend all accounts of that client. Cantor may, in its absolute discretion, close any positions which carry a future contingent liability. Notwithstanding the suspension of the account and without prejudice to our rights of lien and set-off as set out in paragraph 12, we may sell positions on your account to meet commitment calls for outstanding commitments or to meet other general liabilities including the payment of fees, commissions, charges and expenses as permitted by these terms. In the case of death upon receipt of a certified copy of your death certificate, we shall not accept any further instructions or take any further action on your account(s) until such time as your appointed representative has been established by providing us with a certified copy of the grant of probate or letters of administration. Upon receipt of formal notification that you are suffering under an incapacity, we shall not accept any further instructions or take any further action on your account(s) from you until such time we have received written formal notification to the effect that you are no longer suffering under such incapacity or until we have received written notice informing us that a representative has been validly appointed on your behalf to manage your affairs. In the interim, we will deal with corporate actions for which no default position has previously been agreed with you at our absolute discretion pending instructions from your appointed representative. We will not be liable for any losses arising from whatever cause between the time of your death and the date of probate (or letters of administration) being granted or between the date of your incapacity and the date of your recovery or the appointment of a person to manage your affairs.
Termination of Client Account. Either you or Cantor may terminate the account and our agreement by sending the other party prior written notice (expiring on the date specified in such notice) without prejudice to any outstanding rights or obligations incurred prior to such expiry. If you wish to terminate the account please send the written notice to Xxxxxx’x Client Services Department and we will transfer your assets to the account specified by you, after deduction of fees and charges therefrom in the event that you do not separately discharge them. In the event that Xxxxxx cannot contact you or in circumstances where Xxxxxx determines that due to the lack of information or lack of current information that it is not in a position to continue to provide a service or any services to you, Xxxxxx has the right to cease to provide the service and/or to terminate the account. In such event, Xxxxxx shall have no liability for any losses arising on the discontinuation of the service or the closure of the account. See the provisions of paragraph 14 in relation to inactive accounts. In the event of the cessation of a service or the termination of the account Cantor shall, in so far as client assets are transferable, make them available for delivery to you or a new service provider, as determined by you. In relation to assets that are not transferable, they shall be available for delivery as soon as they become transferable or shall be dealt with in a manner agreed to by Xxxxxx and you. Xxxxxx shall be entitled to recover the cost of any such transfer, from you.
