Common use of Client Settlement Clause in Contracts

Client Settlement. Without affecting the time by which the Client must comply with any Margin obligations to ZERO Securities Pty Ltd however arising and subject to clause 7 and ZERO Securities Pty Ltd ’ rights arising following an Event of Default, if a loan is to be terminated then the Client must either by 2:00 p.m. (Sydney time) on the date for settling on termination of a loan: (a) pay to ZERO Securities Pty Ltd in cleared funds the Total Outstanding for that Transaction; or (b) make other arrangements (including extending the term of the Transaction) that are acceptable to ZERO Securities Pty Ltd.