Common use of Termination of Services and closure of Accounts Clause in Contracts

Termination of Services and closure of Accounts. I. Notwithstanding any other provision of these Terms, all Services are made available on an uncommitted basis and the Bank may at any time and from time to time vary, suspend or terminate any or all of the Services without prior notice to the Customer, and the Bank reserves the right to require the Customer to repay immediately all outstanding amounts owed to the Bank (as determined by the Bank) under such Services which have been terminated. The Bank may in addition close any Account with immediate effect upon giving the Customer notice. Upon closure of any Account and/or the suspension or termination of any Service, the Liabilities (or such part thereof as the Bank may, in its sole discretion, specify) shall become immediately due and payable, the Collateral and all other rights, powers and remedies of the Bank shall become immediately enforceable and the Bank shall become immediately entitled to exercise any and all of the same. II. The Customer, unless otherwise provided for in these Terms, or agreed between the Customer and the Bank in writing may terminate any Account or Service upon giving the Bank written notice, provided that termination shall only become effective one Business Day after the Bank has confirmed actual receipt of the termination notice and has completed the relevant procedures. Such termination shall not discharge or affect any accrued, existing or contingent liabilities and obligations of the Customer.

Termination of Services and closure of Accounts. I. Notwithstanding any other provision of these Terms, all Services are made available on an uncommitted basis and the Bank may at any time and from time to time vary, suspend or terminate any or all of the Services without prior notice to the Customer, and the Bank reserves the right to require the Customer to repay immediately all outstanding amounts owed to the Bank (as determined by the Bank) under such Services which have been terminated. The Bank may in addition close any Account with immediate effect upon giving the Customer notice. Upon closure of any Account and/or the suspension or termination of any Service, the Liabilities (or such part thereof as the Bank may, in its sole discretion, specify) shall become immediately due and payable, the Collateral and all other rights, powers and remedies of the Bank shall become immediately enforceable and the Bank shall become immediately entitled to exercise any and all of the same. II. The Customer, unless otherwise provided for in these Terms, or agreed between the Customer and the Bank in writing may terminate any Account or Service upon giving the Bank written notice, provided that termination shall only become effective one Business Day after the Bank has confirmed actual receipt of the termination notice and has completed the relevant procedures. Such termination shall not discharge or affect any accrued, existing or contingent liabilities and obligations of the Customer. CTCB−SG web use only I. These Terms shall become effective from the date of signing of this Agreement and may be terminated by either party upon service of one month’s prior notice in writing. II. In addition, where any of the following matters occurs in respect of the Customer, the Bank is entitled to terminate the Agreement forthwith upon the giving of notice in writing to the Customer: (a) an Event of Default (as defined under Article 11 above) occurs; (b) the Customer assigns its rights or obligations under this Agreement to a third party without the consent of the Bank; (c) the Customer breaches any applicable laws or other relevant regulations (including, without limitation, the regulations of any certification authority) or any of the Customers Accounts are (or are suspected to be, in the Bank’s reasonable opinion) applied for illegal purposes; or (d) any other event occurs or circumstances arise which, in the reasonable opinion of the Bank renders it appropriate for the Bank to immediately terminate this Agreement.