Common use of What Happens on Termination Clause in Contracts

What Happens on Termination. 18.1 If we terminate your account, we will (unless your account is suspended) carry out, conclude and settle all transactions that were initiated by you prior to such termination. If your account has been suspended pending termination, no instructions will be carried out during the suspension period prior to termination, but we will conclude and settle any transactions that you initiated before you received notice of our suspension of your account. 18.1.1 We will give you a final statement of account on termination (a final cost calculation including any interest calculations will be done by us taking into account any outstanding Corporate Actions). 18.1.2 If we have suspended your account pending termination upon notice in terms of 16.2, we will notify you of the maximum period of suspension before termination and will advise you of your rights to close your account with us during this period. 18.2 Upon Termination, you will pay: 18.2.1 our fees on a pro rata basis to the date of termination; and 18.2.2 any additional expenses necessarily incurred by us in terminating the Agreement. 18.3 On termination, we may direct any third-party agent to, retain, and/or realise such assets as may be required to settle transactions already initiated and to pay any of your outstanding liabilities to us, including any outstanding fees. 18.3.1 If there is a dispute with respect to fees upon termination, such dispute shall be resolved in accordance with our internal rules and policies and the disputed amount may be held in trust pending resolution of the dispute. 18.4 Upon termination we will: 18.4.1 where appropriate, issue an instruction to the nominee to return your assets or documents of title if your account is not suspended; or 18.4.2 we will sell all Financial Products held by you in your Portfolio Account and pay the proceeds thereof, together with any cash standing to the credit of your Cash Account (after deducting any cost for expenses incurred pursuant to the termination of the account), into a bank account nominated by you if you have given us all required documentation. If you have not given us all required documentation we will pay such amount in a non-interest bearing suspense account until such time as you have provided all required documentation, and you hereby instruct us to sell all Financial Products held by you in your Portfolio Account if we terminate our relationship with you and it is not appropriate or we are not permitted by law to return your assets or documents of title to you. 18.4.3 issue an instruction to the nominee to transfer the Financial Products into the name of an independent nominee specified by you, and delivered to us by no later than the date provided for in the termination letter, together with all required documentation, provided that the written instruction has been signed by you personally and is accompanied by written confirmation from you that you have received full disclosure of the relevant implications and costs and incentives which may arise because of the transfer. 18.5 Should you fail or refuse to provide the required documentation and nominate a bank account to receive any credit balance owing to you, any credit balance remaining on your account will be transferred to a non-interest bearing suspense account for safekeeping in accordance with our internal rules and policies. Should any of your Financial Products be illiquid and, in our discretion, it is not possible to sell such Financial Products, such Financial Products will be dealt with on your behalf in accordance with our internal rules and policies relating to illiquid assets. You hereby agree and instruct us to hold any funds owing to you in a non-interest bearing suspense account and acknowledge and agree that after a reasonable period we may be required to transfer such funds in accordance with our internal policies relating to dormant or closed accounts. Notwithstanding that we may transfer such funds out of the suspense account in accordance with our internal rules and policies you will, in exchange, receive the right against us to claim such unclaimed funds for a period of 60 (sixty) years from the day the account became dormant or was closed, provided that you complete the necessary claim form and you can substantiate your claim and provide any required documentation. You hereby authorise and instruct us to, if it is no longer practicable to hold your funds in a suspense account and we are required to do so by our internal rules and policies, exchange your funds for a claim against us for such unclaimed funds. You further instruct us to deal with any illiquid Financial Products on your behalf in accordance with our internal rules and policies relating to illiquid Financial Products. 18.6 You agree and instruct that if any Financial Products remain in your account on termination, which cannot be sold as the brokerage fee is more than the value of the Financial Products, such Financial Products should be donated on your behalf to a charitable organisation in accordance with the Strate donation processes and procedures. 18.7 If we terminate your account, you will not be able to re-open the account. 18.8 If you terminate your account and thereafter wish to re-open your account, a new account will have to be opened and a new Agreement will have to be accepted by you. 18.9 You hereby agree and accept that we will not be liable for any loss or damage you suffer because of the termination of your relationship with us and you indemnify us against any claims against us in this regard, including claims from third parties. You acknowledge that you could suffer loss as a result of our disposal of your Financial Products and that there may be tax consequences for you of such disposal.

What Happens on Termination. 18.1 17.1. If we terminate your account, we will (unless your account is suspended) carry out, conclude and settle all transactions that were initiated by you prior to such termination. If your account has been suspended pending termination, no instructions will be carried out during the suspension period prior to termination, but we will conclude and settle any transactions that you initiated before you received notice of our suspension of your account. 18.1.1 17.1.1. We will give you a final statement of account on termination (a final cost calculation including any interest calculations will be done by us taking into account any outstanding Corporate Actions). 18.1.2 17.1.2. If we have suspended your account pending termination upon notice in terms of 16.2, we will notify you of the maximum period of suspension before termination and will advise you of your rights to close your account with us during this period. 18.2 17.2. Upon Termination, you will pay: 18.2.1 17.2.1. our fees on a pro rata basis to the date of termination; and 18.2.2 17.2.2. any additional expenses necessarily incurred by us in terminating the Agreement. 18.3 17.3. On termination, we may direct any third-party agent to, retain, and/or realise such assets as may be required to settle transactions already initiated and to pay any of your outstanding liabilities to us, including any outstanding fees. 18.3.1 17.3.1. If there is a dispute with respect to fees upon termination, such dispute shall be resolved in accordance with our internal rules and policies and the disputed amount may be held in trust pending resolution of the dispute. 18.4 17.4. Upon termination we will: 18.4.1 17.4.1. where appropriate, issue an instruction to the nominee to return your assets or documents of title if your account is not suspended; or 18.4.2 17.4.2. we will sell all Financial Products held by you in your Portfolio Account and pay the proceeds thereof, together with any cash standing to the credit of your Cash Account (after deducting any cost for expenses incurred pursuant to the termination of the account), into a bank account nominated by you if you have given us all required documentation. If you have not given us all required documentation we will pay such amount in a non-interest bearing suspense account until such time as you have provided all required documentation, and you hereby instruct us to sell all Financial Products held by you in your Portfolio Account if we terminate our relationship with you and it is not appropriate or we are not permitted by law to return your assets or documents of title to you. 18.4.3 17.4.3. issue an instruction to the nominee to transfer the Financial Products into the name of an independent nominee specified by you, and delivered to us by no later than the date provided for in the termination letter, together with all required documentation, provided that the written instruction has been signed by you personally and is accompanied by written confirmation from you that you have received full disclosure of the relevant implications and costs and incentives which may arise because of the transfer. 18.5 17.5. Should you fail or refuse to provide the required documentation and nominate a bank account to receive any credit balance owing to you, any credit balance remaining on your account will be transferred to a non-non- interest bearing suspense account for safekeeping in accordance with our internal rules and policies. Should any of your Financial Products be illiquid and, in our discretion, it is not possible to sell such Financial Products, such Financial Products will be dealt with on your behalf in accordance with our internal rules and policies relating to illiquid assets. You hereby agree and instruct us to hold any funds owing to you toyou in a non-interest bearing suspense account and acknowledge and agree that after a reasonable period we may be required to transfer such funds in accordance with our internal policies relating to dormant or closed accounts. Notwithstanding that we may transfer such funds out of the suspense account in accordance with our internal rules and policies you will, in exchange, receive the right against us to claim such unclaimed funds for a period of 60 (sixty) years from the day the account became dormant or was closed, provided that you complete the necessary claim form and you can substantiate your claim and provide any required documentation. You hereby authorise and instruct us to, if it is no longer practicable to hold your funds in a suspense account and we are required to do so by our internal rules and policies, exchange your funds for a claim against us for such unclaimed funds. You further instruct us to deal with any illiquid Financial Products on your behalf in accordance with our internal rules and policies relating to illiquid Financial Products. 18.6 17.6. You agree and instruct that if any Financial Products remain in your account on termination, which cannot be sold as the brokerage fee is more than the value of the Financial Products, such Financial Products should be donated on your behalf to a charitable organisation in accordance with the Strate donation processes and procedures. 18.7 If we terminate your account, you will not be able to re-open the account. 18.8 If you terminate your account and thereafter wish to re-open your account, a new account will have to be opened and a new Agreement will have to be accepted by you. 18.9 You hereby agree and accept that we will not be liable for any loss or damage you suffer because of the termination of your relationship with us and you indemnify us against any claims against us in this regard, including claims from third parties. You acknowledge that you could suffer loss as a result of our disposal of your Financial Products and that there may be tax consequences for you of such disposal.

What Happens on Termination. 18.1 18.1. If we terminate your account, we will (unless your account is suspended) carry out, conclude and settle all transactions that were initiated by you prior to such termination. If your account has been suspended pending termination, no instructions will be carried out during the suspension period prior to termination, but we will conclude and settle any transactions that you initiated before you received notice of our suspension of your account. 18.1.1 18.1.1. We will give you a final statement of account on termination (a final cost calculation including any interest calculations will be done by us taking into account any outstanding Corporate Actions). 18.1.2 18.1.2. If we have suspended your account pending termination upon notice in terms of 16.2, we will notify you of the maximum period of suspension before termination and will advise you of your rights to close your account with us during this period. 18.2 18.2. Upon Termination, you will pay: 18.2.1 18.2.1. our fees on a pro rata basis to the date of termination; and 18.2.2 18.2.2. any additional expenses necessarily incurred by us in terminating the Agreement. 18.3 18.3. On termination, we may direct any third-party agent to, retain, and/or realise such assets as may be required to settle transactions already initiated and to pay any of your outstanding liabilities to us, including any outstanding fees. 18.3.1 18.3.1. If there is a dispute with respect to fees upon termination, such dispute shall be resolved in accordance with our internal rules and policies and the disputed amount may be held in trust pending resolution of the dispute. 18.4 18.4. Upon termination we will: 18.4.1 18.4.1. where appropriate, issue an instruction to the nominee to return your assets or documents of title if your account is not suspended; oror FNBGF V2.0 30.10.23 MC.14261 18.4.2 18.4.2. we will sell all Financial Products held by you in your Portfolio Account and pay the proceeds thereof, together with any cash standing to the credit of your Cash Account (after deducting any cost for expenses incurred pursuant to the termination of the account), into a bank account nominated by you if you have given us all required documentation. If you have not given us all required documentation we will pay such amount in a non-interest bearing suspense account until such time as you have provided all required documentation, and you hereby instruct us to sell all Financial Products held by you in your Portfolio Account if we terminate our relationship with you and it is not appropriate or we are not permitted by law to return your assets or documents of title to you. 18.4.3 18.4.3. issue an instruction to the nominee to transfer the Financial Products into the name of an independent nominee specified by you, and delivered to us by no later than the date provided for in the termination letter, together with all required documentation, provided that the written instruction has been signed by you personally and is accompanied by written confirmation from you that you have received full disclosure of the relevant implications and costs and incentives which may arise because of the transfer. 18.5 18.5. Should you fail or refuse to provide the required documentation and nominate a bank account to receive any credit balance owing to you, any credit balance remaining on your account will be transferred to a non-interest bearing suspense account for safekeeping in accordance with our internal rules and policies. Should any of your Financial Products be illiquid and, in our discretion, it is not possible to sell such Financial Products, such Financial Products will be dealt with on your behalf in accordance with our internal rules and policies relating to illiquid assets. You hereby agree and instruct us to hold any funds owing to you in a non-interest bearing suspense account and acknowledge and agree that after a reasonable period we may be required to transfer such funds in accordance with our internal policies relating to dormant or closed accounts. Notwithstanding that we may transfer such funds out of the suspense account in accordance with our internal rules and policies you will, in exchange, receive the right against us to claim such unclaimed funds for a period of 60 (sixty) years from the day the account became dormant or was closed, provided that you complete the necessary claim form and you can substantiate your claim and provide any required documentation. You hereby authorise and instruct us to, if it is no longer practicable to hold your funds in a suspense account and we are required to do so by our internal rules and policies, exchange your funds for a claim against us for such unclaimed funds. You further instruct us to deal with any illiquid Financial Products on your behalf in accordance with our internal rules and policies relating to illiquid Financial Products. 18.6 18.6. You agree and instruct that if any Financial Products remain in your account on termination, which cannot be sold as the brokerage fee is more than the value of the Financial Products, such Financial Products should be donated on your behalf to a charitable organisation in accordance with the Strate donation processes and procedures. 18.7 18.7. If we terminate your account, you will not be able to re-open the account. 18.8 18.8. If you terminate your account and thereafter wish to re-open your account, a new account will have to be opened and a new Agreement will have to be accepted by you. 18.9 18.9. You hereby agree and accept that we will not be liable for any loss or damage you suffer because of the termination of your relationship with us and you indemnify us against any claims against us in this regard, including claims from third parties. You acknowledge that you could suffer loss as a result of our disposal of your Financial Products and that there may be tax consequences for you of such disposal.

What Happens on Termination. 18.1 18.1. If we terminate your account, we will (unless your account is suspended) carry out, conclude and settle all transactions that were initiated by you prior to such termination. If your account has been suspended pending termination, no instructions will be carried out during the suspension period prior to termination, but we will conclude and settle any transactions that you initiated before you received notice of our suspension of your account. 18.1.1 18.1.1. We will give you a final statement of account on termination (a final cost calculation including any interest calculations will be done by us taking into account any outstanding Corporate Actions). 18.1.2 18.1.2. If we have suspended your account pending termination upon notice in terms of 16.2, we will notify you of the maximum period of suspension before termination and will advise you of your rights to close your account with us during this period. 18.2 18.2. Upon Termination, you will pay: 18.2.1 18.2.1. our fees on a pro rata basis to the date of termination; and 18.2.2 18.2.2. any additional expenses necessarily incurred by us in terminating the Agreement. 18.3 18.3. On termination, we may direct any third-party agent to, retain, and/or realise such assets as may be required to settle transactions already initiated and to pay any of your outstanding liabilities to us, including any outstanding fees. 18.3.1 18.3.1. If there is a dispute with respect to fees upon termination, such dispute shall be resolved in accordance with our internal rules and policies and the disputed amount may be held in trust pending resolution of the dispute. 18.4 18.4. Upon termination we will: 18.4.1 18.4.1. where appropriate, issue an instruction to the nominee to return your assets or documents of title if your account is not suspended; oror FNBGF V3.0 15.11.23 MC.14418 18.4.2 18.4.2. we will sell all Financial Products held by you in your Portfolio Account and pay the proceeds thereof, together with any cash standing to the credit of your Cash Account (after deducting any cost for expenses incurred pursuant to the termination of the account), into a bank account nominated by you if you have given us all required documentation. If you have not given us all required documentation we will pay such amount in a non-interest bearing suspense account until such time as you have provided all required documentation, and you hereby instruct us to sell all Financial Products held by you in your Portfolio Account if we terminate our relationship with you and it is not appropriate or we are not permitted by law to return your assets or documents of title to you. 18.4.3 issue an instruction to the nominee to transfer the . FNB Share Investing. A business unit of FirstRand Bank Limited. An authorised Financial Products into the name Services Provider (FSP 3071). Page 6 of an independent nominee specified by you, and delivered to us by no later than the date provided for in the termination letter, together with all required documentation, provided that the written instruction has been signed by you personally and is accompanied by written confirmation from you that you have received full disclosure of the relevant implications and costs and incentives which may arise because of the transfer. 18.5 Should you fail or refuse to provide the required documentation and nominate a bank account to receive any credit balance owing to you, any credit balance remaining on your account will be transferred to a non-interest bearing suspense account for safekeeping in accordance with our internal rules and policies. Should any of your Financial Products be illiquid and, in our discretion, it is not possible to sell such Financial Products, such Financial Products will be dealt with on your behalf in accordance with our internal rules and policies relating to illiquid assets. You hereby agree and instruct us to hold any funds owing to you in a non-interest bearing suspense account and acknowledge and agree that after a reasonable period we may be required to transfer such funds in accordance with our internal policies relating to dormant or closed accounts. Notwithstanding that we may transfer such funds out of the suspense account in accordance with our internal rules and policies you will, in exchange, receive the right against us to claim such unclaimed funds for a period of 60 (sixty) years from the day the account became dormant or was closed, provided that you complete the necessary claim form and you can substantiate your claim and provide any required documentation. You hereby authorise and instruct us to, if it is no longer practicable to hold your funds in a suspense account and we are required to do so by our internal rules and policies, exchange your funds for a claim against us for such unclaimed funds. You further instruct us to deal with any illiquid Financial Products on your behalf in accordance with our internal rules and policies relating to illiquid Financial Products. 18.6 You agree and instruct that if any Financial Products remain in your account on termination, which cannot be sold as the brokerage fee is more than the value of the Financial Products, such Financial Products should be donated on your behalf to a charitable organisation in accordance with the Strate donation processes and procedures. 18.7 If we terminate your account, you will not be able to re-open the account. 18.8 If you terminate your account and thereafter wish to re-open your account, a new account will have to be opened and a new Agreement will have to be accepted by you. 18.9 You hereby agree and accept that we will not be liable for any loss or damage you suffer because of the termination of your relationship with us and you indemnify us against any claims against us in this regard, including claims from third parties. You acknowledge that you could suffer loss as a result of our disposal of your Financial Products and that there may be tax consequences for you of such disposal.7

What Happens on Termination. 18.1 17.1. If we terminate your account, we will (unless your account is suspended) carry out, conclude and settle all transactions that were initiated by you prior to such termination. If your account has been suspended pending termination, no instructions will be carried out during the suspension period prior to termination, but we will conclude and settle any transactions that you initiated before you received notice of our suspension of your account. 18.1.1 17.1.1. We will give you a final statement of account on termination (a final cost calculation including any interest calculations will be done by us taking into account any outstanding Corporate Actions). 18.1.2 17.1.2. If we have suspended your account pending termination upon notice in terms of 16.2, we will notify you of the maximum period of suspension before termination and will advise you of your rights to close your account with us during this period. 18.2 17.2. Upon Termination, you will pay: 18.2.1 17.2.1. our fees on a pro rata basis to the date of termination; and 18.2.2 17.2.2. any additional expenses necessarily incurred by us in terminating the Agreement. 18.3 17.3. On termination, we may direct any third-party agent to, retain, and/or realise such assets as may be required to settle transactions already initiated and to pay any of your outstanding liabilities to us, including any outstanding fees. 18.3.1 17.3.1. If there is a dispute with respect to fees upon termination, such dispute shall be resolved in accordance with our internal rules and policies and the disputed amount may be held in trust pending resolution of the dispute. 18.4 17.4. Upon termination we will: 18.4.1 17.4.1. where appropriate, issue an instruction to the nominee to return your assets or documents of title if your account is not suspended; or 18.4.2 17.4.2. we will sell all Financial Products held by you in your Portfolio Account and pay the proceeds thereof, together with any cash standing to the credit of your Cash Account (after deducting any cost for expenses incurred pursuant to the termination of the account), into a bank account nominated by you if you have given us all required documentation. If you have not given us all required documentation we will pay such amount in a non-interest bearing suspense account until such time as you have provided all required documentation, and you hereby instruct us to sell all Financial Products held by you in your Portfolio Account if we terminate our relationship with you and it is not appropriate or we are not permitted by law to return your assets or documents of title to you. 18.4.3 issue an instruction to the nominee to transfer the Financial Products into the name of an independent nominee specified by you, and delivered to us by no later than the date provided for in the termination letter, together with all required documentation, provided that the written instruction has been signed by you personally and is accompanied by written confirmation from you that you have received full disclosure of the relevant implications and costs and incentives which may arise because of the transfer. 18.5 17.5. Should you fail or refuse to provide the required documentation and nominate a bank account to receive any credit balance owing to you, any credit balance remaining on your account will be transferred to a non-non- interest bearing suspense account for safekeeping in accordance with our internal rules and policies. Should any of your Financial Products be illiquid and, in our discretion, it is not possible to sell such Financial Products, such Financial Products will be dealt with on your behalf in accordance with our internal rules and policies relating to illiquid assets. You hereby agree and instruct us to hold any funds owing to you toyou in a non-interest bearing suspense account and acknowledge and agree that after a reasonable period we may be required to transfer such funds in accordance with our internal policies relating to dormant or closed accounts. Notwithstanding that we may transfer such funds out of the suspense account in accordance with our internal rules and policies you will, in exchange, receive the right against us to claim such unclaimed funds for a period of 60 (sixty) years from the day the account became dormant or was closed, provided that you complete the necessary claim form and you can substantiate your claim and provide any required documentation. You hereby authorise and instruct us to, if it is no longer practicable to hold your funds in a suspense account and we are required to do so by our internal rules and policies, exchange your funds for a claim against us for such unclaimed funds. You further instruct us to deal with any illiquid Financial Products on your behalf in accordance with our internal rules and policies relating to illiquid Financial Products. 18.6 You agree and instruct that if any Financial Products remain in your account on termination, which cannot be sold as the brokerage fee is more than the value of the Financial Products, such Financial Products should be donated on your behalf to a charitable organisation in accordance with the Strate donation processes and procedures. 18.7 If we terminate your account, you will not be able to re-open the account. 18.8 If you terminate your account and thereafter wish to re-open your account, a new account will have to be opened and a new Agreement will have to be accepted by you. 18.9 You hereby agree and accept that we will not be liable for any loss or damage you suffer because of the termination of your relationship with us and you indemnify us against any claims against us in this regard, including claims from third parties. You acknowledge that you could suffer loss as a result of our disposal of your Financial Products and that there may be tax consequences for you of such disposal.FNBGF V1.0 24.05.21 MC.12847