Common use of CLOSURE/TERMINATION Clause in Contracts

CLOSURE/TERMINATION. The Bank has the right to close an Account at any time by not less than ninety days notice in writing addressed to the Customer at its most recent address as advised by the Customer to the Bank. Before or on the expiry of such notice the Bank, will transfer any balance in the Account in accordance with the Customer’s Instructions. On the expiry of such notice, the Bank’s obligations in respect of the Account shall cease. However, any such closure or termination shall not affect the Customer’s liabilities to the Bank arising prior to or after such termination or closure, all of which shall continue in full force and effect. In the absence of such Instructions the Bank may transfer the balance to an unclaimed moneys account.

CLOSURE/TERMINATION. The Bank has the right to close an Account at any time by not less than ninety (90) days notice in writing addressed to the Customer at its most recent address as advised by the Customer to the Bank. Before or on the expiry of such notice the Bank, Bank will transfer any balance in the Account in accordance with the Customer’s Instructions. On the expiry of such notice, notice the Bank’s obligations in respect of the Account shall cease. However, any such closure or termination shall not affect the Customer’s liabilities to the Bank arising prior to or after such termination or closure, all of which shall continue in full force and effect. In the absence of such Instructions the Bank may transfer the balance to an unclaimed moneys account.