Common use of Cancellation Prior to Maturity Date Clause in Contracts

Cancellation Prior to Maturity Date. (1) In principle, cancellation shall not be permitted before maturity. (2) Notwithstanding the foregoing, if the Bank agrees to cancellation prior to the maturity for any reason that the Bank deems justifiable and if cancellation is made in accordance with Article 10, Paragraph 2 through Paragraph 4 of the “Common Customer Agreement on PowerFlex Transaction”, the Bank shall deduct the cost of restructuring the deposit and other costs incurred by the Bank for the period from cancellation to maturity according to the calculation formula the Bank designates, and shall pay out the remainder.

Appears in 8 contracts

Sources: Customer Agreement, Customer Agreement, Customer Agreement