Unclaimed Funding Balance. Dependent on the jurisdiction of Client, legislation or regulation may set out obligations and processes where Funding Balance may be considered abandoned. AFEX will be bound by any applicable legislation or regulation governing the treatment of abandoned Funding Balance. Unless prohibited, AFEX may charge all costs and expenses of any notice, advertisement, payment and delivery of the Funding Balance to the applicable governing agency, against the Funding Balance prior to remitting in accordance with the legislation or regulation. If AFEX has remitted the Funding Balance in accordance with the legislative or regulatory requirements, AFEX has no further liability to Client and Client must apply to the appropriate governing agency to reclaim the Funding Balance.
Unclaimed Funding Balance. Dependent on the jurisdiction of Client, legislation or regulation may set out obligations and processes where Funding Balance may be considered abandoned. AFEX will be bound by any applicable legislation or regulation governing the treatment of abandoned Funding Balance. Unless prohibited, AFEX may charge all costs and expenses of any notice, advertisement, payment and delivery of the Funding Balance to the applicable governing agency, against the Funding Balance prior to remitting in accordance with the legislation or regulation. If AFEX has remitted the Funding Balance in accordance with the legislative or regulatory requirements, AFEX has no further liability to Client and Client must apply to the appropriate governing agency to reclaim the Funding Balance. Without prejudice to the foregoing and to the extent permitted under applicable laws, in the event any of Client’s Funding Balance remain with or is otherwise held by AFEX Singapore, or any of its nominees or delegates, for and on behalf of Client and are unclaimed by Client six (6) years after the earlier of (i) AFEX Singapore having received such moneys and/or Properties or (ii) the last communication from Client to AFEX Singapore, and AFEX Singapore determines in good faith that it is unable to trace Client, Client agrees that all such Funding Balance (together with any such funds or amounts that may accrue to those moneys, whether by way of dividends, interest or otherwise) may be appropriated by AFEX Singapore to itself to utilise in any manner AFEX Singapore so wishes for its own benefit. Thereafter Client shall have no right whatsoever to claim such moneys and shall be deemed to have waived and abandoned all rights, claims, title, interest and benefit to such moneys in favour of AFEX Singapore.
Unclaimed Funding Balance. In the event that the Agreement is terminated for any reason, or in the event that funds are maintained in Client’s Funding Balance beyond the maximum ninety (90) day period permitted above, AFEX may convert funds that are held in Client’s Funding Balance into Client’s base currency at the then-prevailing exchange rate(s) and return such funds to Client. In the event that the Agreement is terminated for any reason, AFEX may convert funds that are held for Client as Safeguarded Funds into Client’s base currency at the then-prevailing exchange rate(s) and return such funds to Client.
Unclaimed Funding Balance. Dependent on the jurisdiction of Client, legislation or regulation may set out obligations and processes where Funding Balance may be considered abandoned. AFEX will be bound by any applicable legislation or regulation governing the treatment of abandoned Funding Balance. Unless prohibited, AFEX may charge all costs and expenses of any notice, advertisement, payment and delivery of the Funding Balance to the applicable governing agency, against the Funding Balance prior to remitting in accordance
