Common use of Payment of Fees and Charges Clause in Contracts

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution in consideration of MAS continuing to operate the Current Account for the benefit of the Specified Institution. MAS shall give the Specified Institution not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution shall maintain sufficient funds in the Current Account to pay the Operational Fees.

Payment of Fees and Charges. 6.1 Where in MAS’ opinion, the need arises due to any reasons whatsoever, MAS shall be entitled to impose fees and charges, including GST (“Operational Fees”) for the operation of the Current Account, which may be varied in writing from time to time. The Operational Fees shall be directly debited from the Current Account of the Specified Institution Merchant Bank in consideration of MAS continuing to operate the Current Account for the benefit of the Specified InstitutionMerchant Bank. MAS shall give the Specified Institution Merchant Bank not less than thirty (30) days’ notice in writing before the imposition or variation of the Operational Fees comes into effect, and the Specified Institution Merchant Bank shall maintain sufficient funds in the Current Account to pay the Operational Fees.