(a) CDP receives a Default Notice from the Settlement Bank concerning the Principal pursuant to Rule 8.7.1;

(b) The Principal or its DA has committed any breach of these DVP Rules and where such breach is remediable, the Principal or, as the case may be, its DA has failed within seven (7) days of receipt of written notice from CDP to remedy the same;

(c) The Principal or its DA is insolvent or unable to pay its debts as they fall due, compounds with or negotiates for any composition with its creditors generally or permits any judgment against it to remain unsatisfied for seven (7) days;

(d) Any distress, attachment, execution or other legal process is levied or enforced or served against the Principal or its property or its DA or its property;

(e) Any step is taken by the Principal or any person for the liquidation or winding-up of the Principal or for the appointment of a liquidator (including a provisional liquidator), receiver, judicial manager, trustee, administrator or similar officer of the Principal or over any of its property or if CDP considers in its absolute discretion that such proceedings against the Principal are imminent or likely; or

(f) The Principal, for any reason, does not have a Depository Agent who is approved to participate in DVP Settlement to act as its agent for the purposes of Rule 4; and

(g) CDP, at its sole discretion, deems that the Principal has insufficient resources or capital to discharge any obligations it may incur to CDP.