Common use of Fixed Term Deposits Clause in Contracts

Fixed Term Deposits. You understand that we must renew fixed term deposits with financial institutions in various countries which you designate several days prior to maturity, in order to assure continuity of interest (“rollover”). Therefore, you agree that in the event that we have rolled over such deposits at or prior to maturity and we have not received repayment of the original deposit by settlement date for the rollover, we may charge your account for the amount which is due at settlement date.