Terminating Bank Agreements - (Rev. 5, 08-30-02)

120.1 - Terminating Bank Agreements - (Rev. 5, 08-30-02) A1-1420.1, B1-4418.1 The contractor, the Government, or the bank may terminate the bank agreement when the party wishing to terminate submits written notification to the other parties 150 days prior to the expiration of the current term. In the event of termination, the bank agrees to retain the contractor's Federal Health Insurance Account(s) for an additional 180-day period (phase-out) beyond the current term to allow for clearance of outstanding checks.