Common use of Termination Terms Clause in Contracts

Termination Terms. 21.1) This Agreement shall commence on the earlier of the date this Agreement has been executed by both parties including the Account Opening Application Form and the date you place an Order and shall continue until terminated. 21.2) Either Party may terminate this Agreement at any time upon at least five (5) days prior written notice to the other Party. 21.3) Either Party may terminate this Agreement immediately upon written notice if the other Party: (a) becomes insolvent (b) becomes the subject of a petition in bankruptcy which is not withdrawn or dismissed within thirty (30) days thereafter (c) makes an assignment for the benefit of creditors or (d) materially breaches any of its obligations hereunder and fails to cure such breach within thirty (30) days after the non-breaching Party provides written notice thereof. 21.4) Upon termination of this Agreement, all amounts payable by the Either Party to the other Party will become immediately due. 21.5) Upon termination, you shall cease all use of the System and destroy all Authenticators in your possession or control. Termination of this Agreement shall not affect outstanding obligations and responsibilities with regard to any outstanding Transactions. 21.6) Upon terminating notice of this Agreement, Client shall be under the obligation to close all open positions, otherwise, if termination notice (or default) was given by the Client, the notice shall become void, and if given by Company, Company shall have the right to close all open positions.

Termination Terms. 21.1) This Agreement shall commence on the earlier of the date this Agreement has been executed by both parties including the Account Opening Application Form and the date you place an Order and shall continue until terminated. 21.2) Either Party may terminate this Agreement at any time upon at least five (5) days prior written notice to the other Party. 21.3) Either Party may terminate this Agreement immediately upon written notice if the other Party: (a) becomes insolvent (b) becomes the subject of a petition in bankruptcy which is not withdrawn or dismissed within thirty (30) days thereafter (c) makes an assignment for the benefit of creditors or (d) materially breaches any of its obligations hereunder and fails to cure such breach within thirty (30) days after the non-breaching Party provides written notice thereof. 21.4) Upon termination of this Agreement, all amounts payable by the Either Party to the other Party will become immediately due. 21.5) Upon termination, you shall cease all use of the System and destroy all Authenticators in your possession or control. Termination of this Agreement shall not affect outstanding obligations and responsibilities with regard to any outstanding Transactions. 21.6) Upon terminating notice of this Agreement, Client shall be under the obligation to close all open positions, otherwise, if termination notice (or default) was given by the Client, the notice shall become void, and if given by Company, Company shall have the right to close all open positions.