ARTICLE 4.0 CLOSING PROCEDURES:
4.1 Upon the signing of this Private Currency Exchange Agreement (PCEA), HKD PROVIDER agrees to provide a copy of the Current dated Bank Statement of their Proof of Funds to be attached to this PCEA within 3 Banking Days.
4.2 In the event that if the Proof of Funds is not the Paying Bank for the Cost and the Fees under the FPA, then HKD PROVIDER shall put in writing to inform the USD
PROVIDER of their new Banking Coordinates for the release of the Funds to all designated account of all the Beneficiaries concerned.
4.3 After that the USD PROVIDER shall provide (i) Fund Ownership Declaration; (ii) History of Fund; (iii) Letter of Authorization to Verify and (iv) the Delivery Schedule to the HKD PROVIDER’s designated Bank for counting and checking, and the HKD PROVIDER shall also provide the Mapping of the exact location / schedule has to be in writing and to be agreed by both the parties.
4.4 Upon in receipt of the Notes, at the HKD PROVIDER’s designated receiving location with Account Name/Number, their assigned Bank Officer in charge shall have no objection to receive the Notes. Penalty shall be imposed if the bank disallowed the receiving of the Notes at the HKD PROVIDER‘s receiving bank.