Upon the specification of a Termination Date:

a. all obligations of the Clearing House and the Clearing Member in respect of any Contract between them shall cease to exist from the Termination Date, provided that such termination shall have no effect upon the rights and obligations under such Contract, which rights and obligations shall survive such termination, and any obligations to make further payments or deliveries which would otherwise have fallen due shall be satisfied by settlement (whether by payment, set-off or otherwise) of the Termination Amount;
b. the Clearing House shall (on, or as soon as reasonably practicable after, the Termination Date) determine the Clearing Member's total loss or total gain (as the case may be) in respect of each Contract, in each case expressed in Singapore Dollars (the "Base Currency");
c. the Clearing House shall treat each gain to the Clearing Member as a positive amount and each loss by that Clearing Member as a negative amount and shall, in accordance with Rule 7A.07.4, aggregate all of such amounts to produce a single, net positive or negative amount, denominated in the Base Currency (the "Termination Amount"); and
d. where a Clearing Member has one or more House Accounts and Customer Accounts:
(i) the Clearing House shall determine net amounts under Rule 7A.07.4 (c) as follows: one net amount for each Applicable Customer Account; one net amount for all Customer Accounts that are not Applicable Customer Accounts; one net amount for all Affiliate Accounts; and one net amount for all other accounts; and
(ii) the net amounts determined under Rule 7A.07.4(d)(i) each shall constitute Termination Amounts.

Added on 7 August 20127 August 2012 and amended on 2 May 20162 May 2016.