DENKA Thermally Conductive Sheet

DENKA Thermal Interface Materials Technical Information

2007.1

TABLE OF CONTENTS: Thermally Conductive Sheet .............. section A Thermally Conductive Spacer ............ section B Thermally Conductive Grease ............ section C Phase Change Material ....................... section D Elethermal Adhesive Tape .................. section E

Section A: DENKA Thermally Conductive Sheet Technical Information

2007.1

DENKA Thermally Conductive Sheet is an insulating Thermally Conductive Sheet made from DENKA boron nitride and silicone rubber. This material was created based on DENKA's boron nitride manufacturing technologies and the technologies accumulated by DENKA as a maker of synthetic rubber over the course of many years. The excellent thermal conductivity and electrical insulation characteristics of this material make it an ideal material for the insulating and heat dissipating sheets for semiconductors such as transistors and diodes. This sheet is also reinforced by glass fiber, so it can be used confidently without fears regarding its strength.

■ General overview of DENKA Thermally Conductive Sheet The BFG type is a highly thermally conductive type insulating sheet. It provides outstanding long-term reliability and is utilized in various power supplies and automotive electrical equipment, etc. The BS type maintains the excellent characteristics of the BFG type while providing greater flexibility and strength to make it more difficult to tear during fastening. The M type is a general purpose type insulating sheet. It is utilized widely in various fields where heat dissipation is not so necessary. The LD type , LR type and LF type are insulating sheets with thermal characteristics which are in the middle between those of the BFG and M types.

■ Characteristics of DENKA Thermally Conductive Sheet 1)

Since this material is flexible, it is easy for it to mate the surface of devices without the use of thermally conductive grease. It is difficult for it to crack compared to mica or porcelain, etc. , and can be used stably for long periods of time.

2)

Thermal conductivity is excellent,so thermal resistance is extremely low.This contributes to product size reduction.

3)

Mechanical strength is greatly enhanced by the use of glass fiber.This reduces the risk of the sheet tearing while it is being mounted.

4)

Since thermally conductive grease is not required, the grease application process can be omitted and there is no danger of contamination.

5)

Stable heat dissipation characteristics can be obtained even with low tightening torques.

6)

Its dielectric constant is approximately half of that of mica.

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2007.1

■ Major uses of DENKA Thermally Conductive Sheet • electrically insulating and heat dissipating sheets for semiconductor elements such as power transistors, diodes, thyristors, etc. (switching power supplies, UPSs, audio-visual equipment, computers, communication equipment, switchboards, measuring instruments etc.). • heat dissipating spacers for electronic parts such as thick-film Ics, DIPICs, etc., in substitution of for mica sheets and silicone grease. • electrically insulating and heat dissipating sheets used in conjunction with heat pipes.

■ BFG BFG type is a thermally-conductive and electrically-insulating sheet made of silicone and reinforced with fiberglass. Having excellent thermal conduction and electrical insulation properties, it can be said to be ideal for heat dissipation material used with power semiconductors. Adhesive type is available (BFG-AD). table: general properties of BFG type Item

test method

unit

BFG20

BFG30

BFG45

BFG80

Color

-

-

green

white

white

white

Thickness

-

mm

0.20

0.30

0.45

0.80

Specific gravity

-

g / cm3

1.7

Hardness

-

Shore A

88

Tensile strength

JIS K6301

MPa

25

20

14

9

Tear strength

JIS K6301

KN / m

117

88

59

39

Foldability

-

ø mm

1.2

1.2

3.1

>5

Water absorption (1day)

-

µg / mm2

0.8

1.5

1.6

1.6

Reinforcement layer

-

-

fiberglass

Flammability

UL94

-

V-0 (file no. E49895)

TO-3 Rth thermal resistance

Denka

°C / W

0.18

0.20

0.25

0.36

TO-3 Rth (adhesive type)

Denka

°C / W

0.30

0.32

0.35

0.44

TO-3P Rth thermal resistance

Denka

°C / W

0.37

0.42

0.51

0.77

Thermal conductivity

Denka

W / (m·K)

Dielectric withstand voltage

JEM 1021

KV AC

1.0

3.0

4.0

5.0

Dielectric breakdown voltage

JIS C2110

KV AC

3.0

6.5

9.0

> 10

Volume resistivity

JIS C2123

1015 Ω·cm

1.9

2.4

3.3

4.1

Dielectric constant

@ 1 MHz

-

Appearance

Properties

(*)

4.1

3.6

diameter of the smallest metal column around which the sheet has no crack when entwined around

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2007.1

Dielectric breakdown voltage for a 0.3 mm thick interface [ KV AC ]

■ Electrical and thermal properties selection chart 8 7-

LF

BFG

6-

M BFG-A

BS

5LD

4 0

0.50

0.25

0.75

1.00

1.25

Thermal resistance (Rth ) for a TO3-P 0.3 mm thick interface [ °C / W ]

■ BFG-A BFG-A type is a is a thermally-conductive and electrically-insulating sheet made of silicone; it is a new grade by which the thermal performance was improved more than BFG. The other properties of BFG-A type are almost the same ones of those of BFG type, the main differences are listed in the table below. table: general properties of BFG-A type Item

test method

unit

BFG20A BFG30A BFG45A BFG80A

Color

-

-

Thickness

-

mm

Specific gravity

-

g / cm3

Hardness

-

Shore A

90

90

89

88

Tensile strength

JIS K6301

MPa

9

8

5

4

Tear strength

JIS K6301

KN / m

41

37

26

18

Foldability

-

ø mm

1.0

1.2

1.2

3.1


-

µg / mm2

0.18

0.6

0.1

0.12

Reinforcement layer

-

-

fiberglass

Flammability

UL94

-

V-0 (file no. E49895)


Denka

°C / W

0.12

0.15

0.19

0.30


Denka

°C / W

0.28

0.29

0.32

0.66


Denka

W / (m·K)


JEM 1021

KV AC

1.0

3.0

4.0

5.0


JIS C2110

KV AC

3.0

6.0

9.0

> 10

Volume resistivity

JIS C2123

1015 Ω·cm

1.7

7.9

9.2

8.9

Dielectric constant

@ 1 MHz

-

Appearance white 0.20

0.30

0.45

0.80

1.7

Properties

(*)

5.0

2.0


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2007.1

■ Thermal resistance measurement (JIS K6911) TO-3 Heater block Heater

Thermocouple Thermal resistance = (°C / W)

T1 T2 Specimen

T1 - T2 (°C) Heat transfer amount (W)

Cooling water

■ BS BS type is a thermally conductive and electrically insulated sheet made of silicone. Respect to BFG types, it has better foldability, tear strength and mechanical resistance. table: general properties of BS type Item

test method

unit

Color

-

-

Thickness

-

mm

BS20

BS30

BS45

BS80

Appearance green

cm3

0.20

0.3 0

0.45

0.80

1.7

1.6

1.6

1.6

Specific gravity

-

g/

Hardness

-

Shore A

88

89

89

88

Tensile strength

JIS K6301

MPa

25

18

13

9

Tear strength

JIS K6301

KN / m

117

88

59

39

(*)

-

ø mm

/


-

µg / mm2

0.7

Reinforcement layer

-

-

fiberglass

Flammability

UL94

-

V-0 (file no. E49895)


Denka

°C / W

0.19

0.21

0.26

0.37


Denka

°C / W

0.40

0.45

0.54

0.79


Denka

W / (m·K)


JEM 1021

KV AC

1.0

3.0

4.0

5.0


JIS C2110

KV AC

3.0

5.1

7.8

> 10

Volume resistivity

JIS C2123

1015

1.8

2.6

2.5

1.8

Dielectric constant

@ 1 MHz

-

Foldability

(**)

/

(**)

(**)

0.1

2.2

3.1

/

1.5

Properties

(*)

Ω·cm

3.9

3.5


(**)

completely foldable

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2007.1

■ Shapes of DENKA Thermally Conductive Sheet DENKA Thermally Conductive Sheet is available as a standard part with a shape that matches the shapes of various transistors (TO-66, TO-3, TO-30, standard TO-220, enlarged TO-220, TO-220 with enlarged screwing hole, TO-3P, TO-126, standard TO-3PL, enlarged TO-3PL, TO-3PII, enlarged TO-3PII), though it is also possible to make sheets in any desired shape. Contact your local sales representative for details.

■ M M type is a general purpose type insulating sheet. Adhesive type is available (M-AD). table: general properties of M type Item

test method

unit

Color

-

-

Thickness

-

mm

M20

M30

M45

M80

Appearance yellow

cm3

0.20

0.3 0

0.45

0.80

1.9

1.9

2.0

2.0

Specific gravity

-

g/

Hardness

-

Shore A

91

91

90

90

Tensile strength

JIS K6301

MPa

28

24

26

20

Tear strength

JIS K6301

KN / m

127

98

107

68

(*)

-

ø mm

0.8

1.2

2.5

1.5


-

µg / mm2

0.6

1.8

1.2

2.0

Reinforcement layer

-

-

Flammability

UL94

-


Denka

°C / W

0.43

0.64

0.80

1.07


Denka

°C / W

0.56

0.77

0.91

1.10


Denka

°C / W

0.86

1.27

1.59

2.10


Denka

W / (m·K)


JEM 1021

KV AC

1.0

3.0

4.0

5.0


JIS C2110

KV AC

2.4

5.5

8.5

> 10

Volume resistivity

JIS C2123

1015 Ω·cm

1.7

1.7

2.8

2.6

Dielectric constant

@ 1 MHz

-

Foldability

fiberglass V-0 (file no. E49895)

Properties

(*)

1.4

4.0


6


2007.1

■ Special features of DENKA Thermally Conductive Sheet • for its flexibility, the sheet can be stuck to the mating surface with no use of heat-dissipating grease. Moreover, cracks are difficult to appear in comparison with mica, ceramics and the similar interfaces, giving the final assembly long-term reliability characteristics. • thanks to its excellent thermal conductivity, the thermal resistance is extremely low, thus contributing to product miniaturisation. • some types of Thermally Conductive Sheets are reinforced with fiberglass, in order to remarkably improve the mechanical strength. • with no use of heat-dissipation grease, the sheet can save the process of grease coating, this preventing from contamination. • stabilised thermal dissipation properties can be obtained with a lower clamping force. • the dielectric constant is approximately one half of that of mica interfaces.

■ LD LD type is a thermally-conductive and electrically-insulating sheet made of silicone. It has excellent thermal conduction and electrical insulation properties, so that it can be said to be ideal for heat dissipation materials used with semiconductors such as transistors, diodes, and so on. table: general properties of LD type Item

test method

unit

LD20

Color

-

-

Thickness

-

mm

Specific gravity

-

g / cm3

Hardness

-

Shore A

77

Tensile strength

JIS K6301

MPa

Tear strength

JIS K6301

Foldability (*)

LD30

LD45

LD85

Appearance grey 0.20

0.30

0.45

0.85

77

79

80

3

3

3

3

KN / m

57

67

64

79

-

ø mm

1.2

1.2

1.5

3.1


-

µg / mm2

0.04

0.08

0.12

0.12

Reinforcement layer

-

-


Denka

°C / W

0.29

0.36

0.48

0.74


Denka

°C / W

0.75

1.02

1.22

1.56


Denka

W / (m·K)


JEM 1021

KV AC

-

-

-

-


JIS C2110

KV AC

3.0

5.0

8.0

9.0

Volume resistivity

JIS C2123

1013 Ω·cm

1.5

6.0

5.4

7.7

Dielectric constant

@ 1 MHz

-

3.0

3.0

4.0

4.0

Flammability

UL94

-

2.7

not reinforced

Properties

(*)

2.1

V-0 (file no. E49895)


7


2007.1

■ LF and LR LF type is a general purpose type insulating sheet with good thermal and electrical characteristics. Adhesive type is available (LF-AD). LR has excellent thermal conduction and electrical insulation properties, so that it can be said to be ideal for heat dissipation material used with semiconductors such as transistors, diodes, and so on. The production format of LR is roll and it is easy to handle. table: general properties of LF and LR types Item

test method

unit

LF30

LF45

LR20

Color

-

-

grey

grey

yellow

Thickness

-

mm

0.30

0.45

0.20

Specific gravity

-

g / cm3

1.8

1.8

-

Hardness

-

Shore A

90

90

-

Appearance

Tensile strength

(X)

, (O)

MPa

18

(X)

16 (X)

18 (O)

Tear strength

(X)

, (OO)

KN / m

78

(X)

69 (X)

52 (OO)

ø mm

1.2

1.5

-

1.2

1.8

-

Foldability (*)

-

mm2


-

µg /

Reinforcement layer

-

-


Denka

°C / W

0.40

0.50

0.38


Denka

°C / W

-

-

-


Denka

°C / W

0.80

0.90

-


Denka

W / (m·K)

2.3

2.3

2.3


JEM 1021

KV AC

3.0

4.0

1.0


JIS C2110

KV AC

7.5

> 10

2.0

1015 Ω·cm

3.4

3.2

2.0

3.8

-

fiberglass

Properties

Volume resistivity

($)

, (&)

Dielectric constant

@ 1 MHz

-

3.8

Flammability

UL94

-

V-0 (file no.E49895)

(O)

JIS K6301 test method

(*)


($)

JIS C2123 test method

(&)


(OO)

V-0 level

(X)



8

Section B: DENKA Thermally Conductive Spacer Technical Information

2007.1

DENKA Thermally Conductive Spacer is electrically insulating and heat dissipating spacer with excellent thermal conductivity and extreme softness, prepared through the full use of technical expertise DENKA has accumulated in the history of Thermally Conductive Sheet production. It effectively dissipates heat from electronic parts. As the performance of the latest electronics products has been raised to ever higher levels, the amount of heat radiated by MPU, SRAM and other components has continued to increase, and although makers have been searching for heat dissipating materials which have high thermal conductivity and flexibility, the thermal conductivity of heat dissipation materials has so far been inadequate and the materials with a high thermal conductivity have not been sufficiently flexible. DENKA Thermally Conductive Spacers meet the needs for both thermal conductivity and flexibility, with the ability to adhere tightly to the electronic parts with a minimal load and conduct the heat efficiently to the heat sink fins and other parts.

■ Development of DENKA Thermally Conductive Spacer 1) Unlike the somewhat hard rubber based sheets that were used previously, flexible heat dissipating parts with a gel base have recently been introduced for use mainly in notebook personal computers and game devices. This Thermally Conductive Spacer conducts heat away from heat generating parts such as the CPU and memory devices to the heat sink or the outer case while adapting the uneven surface of the product. DENKA has developed various grades of Thermally Conductive Spacer with a broad range of characteristics from high thermal conductivity to high compressibility. 2) As a means of improving thermal conductivity, DENKA has utilized its own inorganic filler technology to improve thermal conductivity, and by using various inorganic fillers such as BN powder, the goal of reaching a maximum of 16 W /(m·K) , making the thermal conductivity higher than ever before, has been reached. 3) If this type of spacer is used as a heat dissipating material for BGA, heat dissipation would become possible while reducing the load on the BGA and high connection reliability would be obtained. In the midst of efforts to make equipment smaller in size while increasing performance, it is expected that heat dissipation will become a more and more important subject. DENKA will carry on studies of heat dissipation systems overall while working to utilize its own inorganic filler technologies to the maximum limit, in order to develop products that meet the needs of our customers.

9

Section B: DENKA Thermally Conductive Spacer

thermal conductivity [ W / (m·K) ]

Technical Information

2007.1

16 -

FSB-G

86FSA-D

4FSL-B FSL-BH

2-

FSL-G

FSL-E

FSL-A

0

FSL-BS

FSL-D

10

FSL-F3

20

30

40

compressibility (%) at 9.8·10-2 Mpa = 14.3 psi The FSB series is an outstanding heat dissipating material which has an excellent thermal conductivity of 16 [W / (m·K)] , as well as flexibility and insulation characteristics. The FSA-D is still an excellent heat dissipating material, with a thermal conductivity of 5 [W / (m·K)]. The FSL series is an insulating and heat dissipating material which has good compressibility, thermal conductivity (in the range between 1.1 and 3 W/ m·K), and outstanding handling characteristics,so that it can be said to be ideal for heat dissipation material used in electric devices such as MPU, SRAM, and so on. The very good compression characteristics of either FSL-BS and FSL-F3, make those materials ideal for a thermal match of surfaces with some larger tolerances on roughness and surface planarity,

table: representative values of DENKA FSB-G , FSA-D, FSL-A , FSL-F3 Thermally Conductive Spacers Item

test method

unit

FSB-G

FSA-D

FSL-A

FSL-F3

Inherent surface tack

-

# of sides

0

0

2

2


Denka

W / (m·K)

16

5

1.5

1.1

Breakdown voltage

JIS C2110

KV / mm

-

10

10

10

Volume resistivity

JIS C2123

1013 Ω·cm

-

1

1

1

Dielectric constant

@ 1 MHz

-

4.2

-

4.2

-

Color

-

-

white

grey

blue

grey

Thickness

-

10-1 mm

Properties

Appearance

Specific gravity

-

g/

Hardness

-

Compressibility

@9.8·10-2 MPa

Flammability

UL-94

cm3

3, 5, 10 (, 15, 20, 25, 30, 35, 40, 45, 50 FSL ONLY) 1.7

2.4

2.5

1.7

Asker C

36

43

45

-

%

15

10

10

25

-

V-0 (file no.E49895)

V-0

10

Section B: DENKA Thermally Conductive Spacer Technical Information

2007.1

table: representative values of DENKA FSL-B, FSL-BH, FSL-BS and FSL-D Thermally Conductive Spacers Item

test method

unit

FSL-B

FSL-BH

Inherent surface tack

-

# of sides


Denka

W / (m·K)

Breakdown voltage

JIS C2110

KV / mm

10

Volume resistivity

JIS C2123

1013 Ω·cm

1

Dielectric constant

@ 1 MHz

-

Color

-

-

Thickness

-

10-1 mm

FSL-BS

FSL-D

2.5

2.5

-

5.5

Properties 2 3

3

4.2

-

Appearance

Specific gravity

-

g/

Hardness

-

Compressibility

@9.8·10-2 MPa

Flammability

UL-94

blue

cm3

3, 5, 10, 15, 20, 25, 30 (, 50 FSL-BH ONLY) 2.8

2.8

2.8

2.7

Asker C

25

30

8

30

%

15

10

30

15

-

V-0 (file no. E49895)

■ Compressibility to loading weight of the FSL-B type table: compressibility to each loading weight (%) for the FSL-B type Thermally Conductive Spacer 0.01 MPa

0.1 MPa

0.2 MPa

0.3MPa

0.4 MPa

0.5 MPa

FSL050B

3.4

10.2

15.3

19.1

22.9

26.8

FSL100B

3.6

13.3

19.3

23.3

27.3

31.3

FSL200B

3.9

17.3

24.3

30.3

34.3

38.3

FSL300B

4.5

20.4

28.1

34.0

38.3

42.1

11

Section C: DENKA Thermally Conductive Grease Technical Information

2007.1

■ GFC GFC grades are silicone oil compounds that exhibit high thermal conductivity between devices and heatsinks. Providing excellent thermal conductivity, they are especially designed for high performance semiconductor elements such as MPU, SRAM, etc. table: general properties of GFC grades Item

unit

GFC-F1

GFC-G1

GFC-H4

GFC-H6

GFC-K4

Color

-

light plum

white

grey

grey

grey

Shape

-

Product format

-

Specific gravity

g / cm3

2.3

2.4

2.2

2.2

2.6

Viscosity (X)

Pa·s

300

50

250

35

190

Volume resistivity (XX)

Ω · cm

1013

1013

1010

-

-

Thermal resistance (*)

°C / W

0.06

0.05

0.04

0.04

-

Thermal resistance (**)

°C / W

0.14

0.11

-

-

-


W / (m·K)

5

5

6.5

6.5

8

(X) (*)

grease 1 , 5 , 10 , 30 cc syringes - 2 Kg can

Denka standard test method

(XX)

JIS C2123 test method

modified ASTM D5470 (at 60 psi, 1cm2)

(**)

modified ASTM D5470 (at 20 psi, 1cm2)

■ Thermal resistance measurement (modified ASTM D5470)

Thermal resistance (°C / W)

TJ - TCOOL (°C)

= Heat transfer amount (W) 12

Section C: DENKA Phase Change Materials Technical Information

2007.1

In these days, especially as being represented by the CPUs for notebook personal computers, heat radiation amount from electronic components has been increasing almost proportional to their functional improvement. DENKA phase-change type materials are the products with the ceramic powder manufactured by our firm. The ceramic powder is densely filled and finely dispersed in polymers, then, processed into a shape of sheet for easy handling. As a result of utilizing the excellent heat conduction characteristics of ceramic powder, our phase-change type materials are able to show the good heat radiation and can be used for a variety of electronic components.

■ PCA PCA grades are phase change materials with no silicone that exhibit high thermal property similar to GFC compounds. PCA grades are especially designed for high-performance semi-conductor elements such as MPU, SRAM, etc. It provides excellent thermal conductivity. PCA-Y grades consist of a phase change film on one side of a conformable metal foil carrier (normally, Aluminium). So, since one side is non-sticking, detaching the heat-sink is easy. table: general properties of PCA and PCA-Y grades Item

unit

PCA-A8A

PCA-B6

PCA-E2

Color

-

light blue

grey

grey

Thickness

mm

0.15 , 0.25

0.15

0.15 , 0.25

Specific gravity

g / cm3

2.4

2.8

2.7

2.2

2.7

Volume resistivity

1013 Ω·cm

1

1

1

1

1

Phase change temp.

°C

50

50

45

50

50

Thermal resistance (*)

°C / W

0.14

0.10

0.07

0.34

0.17

Thermal resistance (**)

°C / W

0.09

0.09

0.04

0.20

0.14

Thermal conductivity (X)

W / (m·K)

2.9

6.5

-

2.8

4.9

(*) (**)

thermal resistance: Modified ASTM D5470 (at 60 psi,

1cm2)

(X)

PCA-Y9

PCA-Y11

light purple 0.15 + 0.03Al

thermal conductivity: Modified ASTM D5470 (at 15 mm, 100 µ m)

thermal resistance: Modified ASTM D5470 (at 100 psi, 1cm2)

figure: provision of PCA and PCA-Y grades PCA GRADE Cover film

Base film

PCA-Y GRADE Cover film

Phase Change Material

Aluminium foil


13

Section C: DENKA Phase Change Materials Technical Information

2007.1

■ Usage of PCA series’ Phase Change Materials Pressure Fin Heat (about 60°C)

Chip


■ Usage of PCA-Y series’ Phase Change Materials

Pressure Metal foil

Fin Heat (about 60°C)

Chip Phase Change Material

Rework is easy

14

Section C: DENKA Elethermal Adhesive Tape Technical Information

2007.1

Elethermal DKN is a thermally conductive sheet made of acrylic-polymer; it is an excellent sticky sheet with thermal conductivity like the double-coated adhesive tape. Elethermal DKN is a silicon free and halogen free materials, and the flame resisting(UL-94) is VTM-0 level. table: general properties of DKN grades Item

unit

DKN-100P

DKN-250P

DKN300

Characteristic

-

Color

-

Thickness

mm

0.10

0.25

0.3 0

0.50


KV AC

1.5

-

5

7

Hardness

shore A

35

35

60

60

Sticky strength to Aluminum plate

N/10mm

5.5

5.5

0.7

0.7


W / (m·K)

1.0

1.0

1.0

1.3

Flammability

-

-

-

very sticky

DKN500 sticky

white

VTM-0 level

■ Application examples LED

Heat sink

I.M.S. Elethermal Elethermal Metal casing

IC Chip

15

DENKA Thermal Interface Materials Technical Information

2007.1

■ Concept chart of Thermal Interface Materials Grease , Adheshive

Film , Pad

Phase Change

Pressure

Pressure

Heat and Pressure

Distributor:

NOTICE

www.denka.co.jp DENKI KAGAKU KOGYO KABUSHIKI KAISHA Head Office Sanshin Bldg., 1-4-1 Yurakucho, Chiyoda-ku, Tokyo 100-8455, Japan Telephone: (03) 3507-5257 Facsimile: (03) 3507-5078

The information contained in this brochure is presented for the purpose of generally advising potential customers of DENKA about the basic description, properties and characteristics of various DENKA products (hereafter, ”Product Information”). DENKA makes no warranty or representation as to the entire accuracy or completeness of the Product Information in this brochure. Nothing in this brochure will be deemed to create any express or implied warranty or obligation of DENKA with respect to the Product Information or its use, including, but not limited to, any warranty of merchantability, fitness for a particular purpose or infringement of any intellectual property rights. Each user of Product Information and DENKA products assumes its own responsibility to properly determine the manner and suitability of use of Product Information and DENKA Products in its own operations. The user should exercise proper care in considering Material Safety Data Sheet, Product Information and any other technical information provided by DENKA, including descriptions of use conditions, warnings and cautionary instructions. DENKA reserves the right to change Product Information from time to time at its discretion and without notice.