Common use of Termination of the Services Clause in Contracts

Termination of the Services. 31.1 We may block access to the use of any part of the Services without prior notice in the event that: (a) we elect at our discretion to discontinue such Services on a temporary or permanent basis, (b) you breach this Agreement; (c) your Account has recorded no trading activities and/or holds no asset for such a period as we may deem appropriate; or (d) your Account has become Dormant. We may activate your Account upon your application to us on such terms and supplying such information about yourself as we may determine. (a) We may terminate any one or more of the Accounts forthwith without giving notice to you if (i) you breach or fail to comply with any provision of this Agreement; (ii) when your Account has become Dormant; (iii) a petition in bankruptcy, winding up or the commencement of other analogous proceedings has been filed against you; (vi) you (being an individual) shall die or are judicially declared insane or incompetent; (v) any attachment, execution or other process has been levied or enforced against you; (vi) any representations or warranty made by you to us in this Agreement or in any document is or becomes incorrect or misleading; or (vii) any event occurs which, in our sole opinion, might jeopardize any of our rights under this Agreement. (b) We may also terminate anyone or more of the Accounts by giving you not less than 3 business days' prior written notice. (c) You may, subject to our satisfaction and discharge of your indebtedness, liability or other obligation to us, close your Account at any time by giving us not less than 3 business days’ prior written notice. (d) Closing an Account or terminating any services will not affect the rights and obligations of either party incurred prior thereto. 31.3 Any termination of the Services or this Agreement shall not affect any Transactions entered into or prejudice or affect any rights, powers, duties and obligations of either party accrued prior to the termination. 31.4 Upon termination of this Agreement, (a) you will immediately repay to us any amounts due or owing to us; (b) you will withdraw any cash or Securities balances in the Account within 10 business days from the date of termination, failing which we may on your behalf and without any responsibility for any loss or consequences on our part sell or dispose of your Securities in the market or in such manner and at such time and price as we may reasonably determine and send to you at your own risk our check or remittance representing the net sale proceeds and the credit balances in your Account to your last known address; and (c) close out all outstanding Futures Contracts and Option Contracts within 10 business days from the date of termination, failing which we may close out the same and return to you our check or remittance representing the credit balance in your Account.

Appears in 4 contracts

Samples: Account Application Form and Client Agreement, Client Agreement, Client Agreement

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Termination of the Services. 31.1 We may block access to the use of any part of the Services without prior notice in the event that: (a) we elect at our discretion to discontinue such Services on a temporary or permanent basis, (b) you breach this Agreement; (c) your Account has recorded no trading activities and/or holds no asset for such a period as we may deem appropriate; or (d) your Account has become Dormant. We may activate your Account upon your application to us on such terms and supplying such information about yourself as we may determine. (a) We may terminate any one or more of the Accounts forthwith without giving notice to you if (i) you breach or fail to comply with any provision of this Agreement; (ii) when your Account has become Dormant; (iii) a petition in bankruptcy, winding up or the commencement of other analogous proceedings has been filed against you; (vi) you (being an individual) shall die or are judicially declared insane or incompetent; (v) any attachment, execution or other process has been levied or enforced against you; (vi) any representations or warranty made by you to us in this Agreement or in any document is or becomes incorrect or misleading; or (vii) any event occurs which, in our sole opinion, might jeopardize any of our rights under this Agreement. (b) We may also have the right to terminate anyone (temporarily or more permanently and at any time, with or without cause or prior notice) all or any part of the Accounts by giving you not less than 3 business days' prior written noticeany Service, or your access to such Service. (c) You may, subject to our satisfaction and discharge of your indebtedness, liability or other obligation to us, close your Account at any time by giving us not less than 3 business days’ prior written notice. (d) Closing an Account or terminating any services will not affect the rights and obligations of either party incurred prior thereto. 31.3 Any termination of the Services or this Agreement shall not affect any Transactions entered into or prejudice or affect any rights, powers, duties and obligations of either party accrued prior to the termination. 31.4 Upon termination of this Agreement, (a) you will immediately repay to us any amounts due or owing to us; (b) you will withdraw any cash or Securities balances in the Account within 10 business days from the date of termination, failing which we may on your behalf and without any responsibility for any loss or consequences on our part sell or dispose of your Securities in the market or in such manner and at such time and price as we may reasonably determine and send to you at your own risk our check or remittance representing the net sale proceeds and the credit balances in your Account to your last known address; and (c) close out all outstanding Futures Contracts and Option Contracts within 10 business days from the date of termination, failing which we may close out the same and return to you our check or remittance representing the credit balance in your Account.

Appears in 1 contract

Samples: Account Application Form and Client's Agreement

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Termination of the Services. 31.1 We may block access to the use of any part of the Services without prior notice in the event that: : (a) we elect at our discretion to discontinue such Services on a temporary or permanent basis, , (b) you breach this Agreement; ; (c) your Account has recorded no trading activities and/or holds no asset for such a period as we may deem appropriate; or or (d) your Account has become Dormant. We may activate your Account upon your application to us on such terms and supplying such information about yourself as we may determine.. 31.2 (a) We may terminate any one or more of the Accounts forthwith without giving notice to you if (i) you breach or fail to comply with any provision of this Agreement; (ii) when your Account has become Dormant; (iii) a petition in bankruptcy, winding up or the commencement of other analogous proceedings has been filed against you; (vi) you (being an individual) shall die or are judicially declared insane or incompetent; (v) any attachment, execution or other process has been levied or enforced against you; (vi) any representations or warranty made by you to us in this Agreement or in any document is or becomes incorrect or misleading; or (vii) any event occurs which, in our sole opinion, might jeopardize any of our rights under this Agreement. (b) We may also have the right to terminate anyone (temporarily or more permanently and at any time, with or without cause or prior notice) all or any part of the Accounts by giving you not less than 3 business days' prior written noticeany Service, or your access to such Service. (c) You may, subject to our satisfaction and discharge of your indebtedness, liability or other obligation to us, close your Account at any time by giving us not less than 3 business days’ prior written notice. (d) Closing an Account or terminating any services will not affect the rights and obligations of either party incurred prior thereto. . 31.3 Any termination of the Services or this Agreement shall not affect any Transactions entered into or prejudice or affect any rights, powers, duties and obligations of either party accrued prior to the termination. 31.4 Upon termination of this Agreement, (a) you will immediately repay to us any amounts due or owing to us; (b) you will withdraw any cash or Securities balances in the Account within 10 business days from the date of termination, failing which we may on your behalf and without any responsibility for any loss or consequences on our part sell or dispose of your Securities in the market or in such manner and at such time and price as we may reasonably determine and send to you at your own risk our check or remittance representing the net sale proceeds and the credit balances in your Account to your last known address; and (c) close out all outstanding Futures Contracts and Option Contracts within 10 business days from the date of termination, failing which we may close out the same and return to you our check or remittance representing the credit balance in your Account.

Appears in 1 contract

Samples: Account Application Form & Client's Agreement

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