16. Termination
16.1. Without prejudice to termination rights under the Terms of Use,
Moneybookers may terminate this Agreement immediately:
16.1.1. if the Merchant files a petition for bankruptcy,
becomes insolvent, or makes any arrangement or composition with or
assignment for the benefit of its creditors, or a receiver is
appointed for the Merchant or its business, or the Merchant
goes into liquidation either voluntarily (otherwise than for
reconstruction or amalgamation) or compulsorily;
16.1.2. upon the occurrence of a material breach of this Agreement
by the Merchant if such breach is not remedied within five
(5) business days after written notice is received by the
Merchant identifying the matter or circumstances constituting
the material breach; or
16.1.3. if the Merchant violates or fails to comply with any applicable
law, regulation or any order by a competent court or government authority.
16.2.The Merchant may terminate this Agreement at any time without
reason by giving notice to Moneybookers.
16.3. Moneybookers may terminate this Agreement at any time without
reason
16.3.1. by giving two (2) months’ notice if the Merchant is a Micro
-Enterprise or Small Charity; or
16.3.2. by giving three weeks’ notice if the Merchant is not a Micro
-Enterprise or Small Charity.
16.4. Any termination under the Terms of Use shall be deemed a
termination of this Agreement.
