Termination of Gold Custody Services. (a) Either you or we shall have the right to terminate the provision of Gold Custody Services at any time on giving not less than fourteen (14) days written notice to the other party.
(b) Where you have given the notice of termination in accordance with Clause 3.10(a) above, you shall forthwith notify us in writing of all necessary arrangements for the delivery to you of the Gold Bullion before the expiry of the relevant notice period set out in Clause 3.10(a) above (the “Notification Period”), and such delivery shall take place no later than the date falling ninety (90) days from the date of expiry of the Notification Period (both dates inclusive). DBS Bank Ltd., Singapore 74 Co. Reg. No. 196800306E
(c) Where we have given the notice of termination in accordance with Clause 3.10(a) above, you shall notify us in writing of all necessary arrangements for the delivery to you of the Gold Bullion within sixty (60) days from the date of such notice of termination (also the “Notification Period”), and such delivery shall take place no later than the date falling ninety (90) days from the date of expiry of the Notification Period (both dates inclusive).
(d) For the avoidance of doubt, for as long as the Gold Bullion have not been removed from the Designated Facility, the Gold Bullion shall continue to be held by us in accordance with these Gold Bullion Terms and any applicable Gold Bullion Service Fee shall continue to be chargeable.
(e) Where you (i) fail to make and implement the arrangements required under Clause 3.10(b) or 3.10(c) (as the case may be) or (ii) make arrangements which are not acceptable to us (as we may determine in our absolute discretion) under Clause 3.10(b) or 3.10(c) (as the case may be), we shall, at any time commencing from the date falling ninety (90) days from the last day of the relevant Notification Period (both dates exclusive such that the date will fall on the 91st day), have the option to carry out either of the following:
(i) to continue to hold the Gold Bullion in accordance with the terms of these Gold Bullion Terms, and any applicable Gold Bullion Service Fee shall continue to be chargeable; or
(ii) to sell the Gold Bullion on such terms as we may determine in our absolute discretion and account to you for the proceeds after deducting any amount due to us under these Gold Bullion Terms.
(f) We shall not be liable to you for any Losses you suffer as a result of:
(i) our exercise of our right to sell the Gold Bullion under Clau...
