Maestro Global Rules (PDF) - MasterCard

1.7.2 Withdrawing a Cardbase from the Corporation
Participation
1.7 Termination of License
A Principal must not withdraw a Cardbase from the Corporation except upon
fulfillment of the following conditions:
1. The Principal must provide the Corporation with at least six (6) months
prior written notice of its intent to withdraw a Cardbase(s). If confidential
negotiations surrounding a Cardbase sale would render six (6)-months’
notice unduly disruptive, the Corporation may accept a shorter time at
its discretion.
2. The Principal must certify in writing to the Corporation that on the intended
date of withdrawal no card in circulation will bear the Marks, unless
the Corporation has approved a plan for the phased withdrawal of the
Cardbase. Any phased withdrawal must not exceed the lesser of one (1)
full reissuance cycle or two (2) years. No plan will be acceptable to the
Corporation unless it guarantees that such Cards still in circulation bearing
Marks will continue to provide access to Accounts through the Corporation.
3. If there is a new owner of the Cardbase, such owner must be a Customer of
the Corporation, at least during the phased withdrawal period. Alternatively,
if the new owner is not eligible to be Licensed, then it must enter into an
agreement with the Corporation to be bound by all Rules applicable to the
Cardbase during its withdrawal period.
4. Any Issuer who withdraws from the Corporation must eradicate or disable
all Corporation applications resident on Chip Cards that it has issued, within
six (6) months after the effective date of its withdrawal. With respect to any
such Card not used during the six (6) month period, the Issuer must block
all the Corporation applications the first time the Card goes online.
1.7.3 Termination by the Corporation
A Customer’s License may be terminated by the Corporation. The termination is
effective upon delivery, or an inability to deliver after a reasonable attempt to
do so, of written or actual notice by the Corporation to the Customer.
The Corporation may, at its sole discretion, effect such termination forthwith
and without prior notice if:
1. The Customer suspends payments within the meaning of Article IV of the
Uniform Commercial Code in effect at the time in the State of Delaware,
regardless of whether, in fact, the Customer is subject to the provisions
thereof; or
2. The Customer takes the required action by vote of its directors, stockholders,
members, or other persons with the legal power to do so, or otherwise
acts, to cease operations and to wind up the business of the Customer,
such termination of License to be effective upon the date of the vote or
other action; or
3. The Customer fails or refuses to make payments in the ordinary course of
business or becomes insolvent, makes an assignment for the benefit of
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Maestro Global Rules • 9 November 2012 1-9