Common use of Term and Termination Clause in Contracts

Term and Termination. This Schedule A – Conditions for Multitude Savings Account is being signed for an indefinite period of time and is not subject to any minimum term. For termination, please refer to clause 13 of the General Terms and Conditions and the rest of this Clause 10. You may terminate your Multitude Savings Account, subject to a thirty (30) days’ notice period (clause 13 of the General Terms and Conditions). On the termination date, the Bank will transfer the balance from the Multitude Savings Account in addition to previously accrued interest to the Reference Account. The Bank may terminate the Multitude Savings Account at any time by giving providing notice as specified in Clause 13 below. In determining the notice period, the Bank will pay attention to the legitimate concerns of the customer (clause 14 of the General Terms and Conditions). The right of both parties to extraordinary termination remains unaffected. Upon effectiveness of the termination by the Bank, the Bank will transfer the balance in the Multitude Savings Account in addition to previously accrued interest to the domestic Reference account and close Multitude Savings Account.