Common use of Cancellation Prior to Maturity Date Clause in Contracts

Cancellation Prior to Maturity Date. (1) You shall not be permitted to cancel the Foreign Currency Deposits prior to the specified maturity date without the approval of the Bank. (2) If the Bank agrees to the cancellation prior to the maturity for any reason that the Bank deems justifiable, please complete a withdrawal slip in the form designated by the Bank, affix your name (or signature) thereon, and submit the form so completed together with the Card. In such an event and if the PowerFlex account is cancelled subject to Article 10, Paragraph 2 through Paragraph 4 of the “Common Customer Agreement on PowerFlex Transaction”, no interest shall accrue. (3) In the case of the preceding Paragraph, the Bank shall pay the principal of the amount to be repaid in the same currency by means of funds transfer to the foreign currency savings deposit account in the PowerFlex account of the relevant customer. However, if Interim Interest has been paid, the Interim Interest paid (where two or more Interim Interest Payment Dates exist, the total amount of Interim Interest paid on each Date) shall be deducted from the principal, and the remaining amount of the principal shall be credited in the same currency to the savings deposit account in the PowerFlex account.