Account Restriction or Closure Clause Samples
The Account Restriction or Closure clause grants a party, typically a service provider or financial institution, the right to limit access to or terminate a user's account under specified circumstances. In practice, this clause may be invoked if the account holder violates terms of service, engages in suspicious or illegal activity, or fails to meet certain requirements, such as maintaining a minimum balance. Its core function is to protect the provider from misuse or risk associated with the account, ensuring compliance with legal and policy standards while providing a clear framework for when and how accounts may be restricted or closed.
Account Restriction or Closure. I understand that you may, in your discretion and at any time, prohibit or restrict the trading of Cryptocurrencies in my RHC Account. I further understand that either you or I may close my RHC Account or deactivate or block access to my RHC Account at any time and for any reason. Closing an account will not affect any rights and obligations incurred prior to the date of account closure. If there is a Cryptocurrency balance remaining in my RHC Account, I hereby agree to: (a) upon your request, provide you with a Cryptocurrency address upon providing you notice of closure, or within seven calendar days of receiving written notice of closure from you, so that you can return the remaining Cryptocurrency to me; (b) permit you, at your discretion, to sell any remaining Cryptocurrency on the open market at the prevailing market price and return the proceeds (less fees, costs, expenses, charges, obligations including, but not limited to, attorney and court fees or transfer costs of funds (or Cryptocurrencies), and damages, to any valid bank account linked to my RHC Account or to any Affiliate Account(s). In the event that the costs of closing my RHC Account exceeds the value in my RHC Account, I will be responsible for reimbursing you. I will remain liable to you for all obligations incurred in my RHC Account, pursuant to this Agreement, or otherwise, whether arising before or after closure of my RHC Account or termination of this Agreement.
Account Restriction or Closure. Customer understands that CCMX may prohibit or restrict Customer’s trading of Unregistered Securities in the Account, close the Account, or deactivate or block access to the Account at any time and in its sole discretion. Closing of the Account will not affect any rights and obligations of the parties incurred prior to the date of closure of the Account. If, at the time of closure, there is a cash balance remaining in the Account, Customer hereby agrees that CCMX may return such cash balance (less fees, costs, expenses, charges, obligations including, but not limited to, attorney and court fees or transfer costs of funds, and damages) to any valid bank account linked to the Customer’s Account. In the event that the costs of closing Customer’s Account exceeds the value of the remaining balance in the Account, Customer will be responsible for reimbursing CCMX for any outstanding amount. Customer will remain liable to CCMX for all obligations incurred pursuant to this Brokerage Agreement, or otherwise, whether arising before or after closure of the Account or termination of this Brokerage Agreement.
Account Restriction or Closure. I understand that you may, in your discretion and at any time, prohibit or restrict the trading of Cryptocurrencies in my RHC Account. I further understand that either you or I may close my RHC Account or deactivate or block access to my RHC Account at any time and for any reason. Closing an account will not affect any rights and obligations incurred prior to the date of account closure. I understand and acknowledge that my RHC Account must have a zero balance in order to be closed. If there is a Cryptocurrency balance remaining in my RHC Account, I hereby agree to: (i) upon your request, provide you with a Cryptocurrency address upon providing me notice of closure so that you can return the remaining Cryptocurrency to me pursuant to a Send Transaction; or