Common use of Authorised deductions Clause in Contracts

Authorised deductions. The Client agrees that SMFX is entitled to: a) Withdraw, deduct or apply any amounts payable by the Client to SMFX and/or any associate of SMFX from Client moneys held in any account or invested by SMFX, including, without limitation, making a payment for, or in connection with, the margining, adjusting or settling of dealings on Contracts entered into by the Client, or the payment of finance charges, commissions or interest to SMFX with all such amounts belonging to SMFX; and/or b) Use the funds in the client accounts to manage SMFX dealings with counterparties with respect to client positions. c) Deal with any property, other than money, given to SMFX by the Client, in such manner as SMFX in our sole discretion consider appropriate in consideration and in connection with the margining, adjusting or settling of dealings in Contracts with us or selling or charging any or all of such property that may be in our control following a Default Event. d) Retain all interest earned on client money held in accounts with a bank, approved deposit taking institution and/or exchange clearing house.