Versions

 

10.1 Termination

The Depository may terminate any Depository Agent immediately and without any prior notice upon the occurrence of any of the following events:

10.1.1 the failure of the Depository Agent to perform or observe any of its duties or obligations or representations or warranties under the Depository Agent Terms within five (5) business days of any notice from the Depository to remedy such failure; or
10.1.2 the voluntary liquidation of the Depository Agent otherwise than for the purpose of reconstruction or amalgamation approved by the Depository, or an Order of Court being made for its compulsory liquidation; or
10.1.3 the Depository Agent entering into any composition or arrangement with its creditors; or
10.1.4 the Depository Agent having a receiver or judicial manager or similar officer appointed over the whole or any part of its undertaking or its properties, revenues or assets; or
10.1.5 any distress or execution being levied or enforced upon or sued out against any of the chattels or property of the Depository Agent.