Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB account, (b) defaults on any obligation to IB, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB has the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB. (iv) Upon Close-Out Netting or any "Default", all outstanding Forex transactions will be deemed terminated as of the time immediately preceding the triggering event, petition or proceeding. (v) IB's rights herein are in addition to any other rights IB has (whether by agreement, by law or otherwise).
Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB UK account, (b) defaults on any obligation to IB UK and/or its Affiliates, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB UK and/or its Affiliates have the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB UK and/or its Affiliates. (iv) Upon Close-Out Netting or any "Default", all outstanding Forex transactions will be deemed terminated as of the time immediately preceding the triggering event, petition or proceeding. (v) IB UK's rights herein are in addition to any other rights IB UK has (whether by agreement, by law or otherwise).
Close-Out Netting. If Client: (a) incurs a margin deficit in any IBKR account, (b) defaults on any obligation to IBKR, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IBKR has the right in its sole discretion, but not the obligation, to close out Client's Forex transactions, liquidate all or some of Client's collateral (as set forth in Paragraph 16) and apply the proceeds to any debt to IBKR.
Close-Out Netting. If Client: (a) incurs a margin deficit in any GPS account, (b) defaults on any obligation to GPS, (c) becomes subject to bankruptcy, insolvency or other similarproceedings, or (d) fails to pay debts when due, GPS has the right in its sole discretion, but not the obligation, to close out Client's Forex transactions, liquidate all or some of Client's collateral (as set forth in Paragraph 16) and apply the proceeds to any debt to GPS.
Close-Out Netting. If an Event of Default has occurred and is continuing in respect of a party ("Defaulting Party"), the other party ("Non-Defaulting Party") shall be entitled in its reasonable discretion, immediately and at any time and upon notice (unless such notice cannot practicably be provided in the circumstances) to close-out all Defaulting Party's Forex Contracts, and may in its reasonable discretion at any time or from time to time upon notice (unless such
Close-Out Netting. Close-out netting has been agreed between the Borrower and the Lenders. If an Event of Default occurs and if a Lender or the Agent on behalf of a Lender gives notice of close-out netting to the Borrower, all present and future obligations and liabilities (whether actual or contingent and in any other capacity whatsoever) between that Lender and the Borrower shall be settled through close-out netting (slutafregning).
Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB account, (b) defaults on any obligation to IB, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB has the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB. (iv) Upon Close-Out Netting or any "Default", all outstanding Forex transactions will be deemed terminated as of the time immediately preceding the triggering event, petition or proceeding. (v) IB's rights herein are in addition to any other rights IB has (whether by agreement, by law or otherwise). d. Nothing herein constitutes a commitment of IB to offer Forex transactions generally or to enter into any specific Forex transaction. IB reserves the unlimited right to refuse any Forex order or to decline to quote a two-way market in any currency. 8. Commodity Options and Futures Not Settled in Cash: Customer acknowledges that: (A) commodity options cannot be exercised and must be closed out by offset; and (B) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on IB's Deliverable Currency List), Customer cannot make or receive delivery. If Customer has not offset a commodity option or physical delivery futures position prior to the deadline on the IB website, IB is authorized to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer is liable for all losses/costs. C. PROVISIONS RELATING TO TRADES TO BE EXECUTED BY IB AND GIVEN UP TO CUSTOMER'S PRIME BROKER FOR SETTLEMENT: 1.
Close-Out Netting. Without limiting any other rights that may be available to the Non-Defaulting Party (as hereinafter defined), if a Party (the "Defaulting Party"): (a) is the subject of a bankruptcy, insolvency, or similar proceeding; (b) fails to pay its debts generally as they become due; (c) makes a general assignment for the benefit of its creditors; (d) applies for, seeks, consents to, or acquiesces in the appointment of a receiver, custodian, trustee, liquidator, or similar official for all or a substantial portion of its assets; (e) fails to pay or perform, when due, any obligations to the other Party ("Non-Defaulting Party") within three (3) business days of a demand for performance thereof after giving effect to any applicable cure period in the Contracts; or (f) fails to provide adequate assurance of its ability to perform all of its outstanding obligations to the Non- Defaulting Party under one or more of the Transactions within forty-eight (48) hours of a demand therefor when the Non-Defaulting Party has reasonable grounds for insecurity, then the Non-Defaulting Party shall have the right, exercisable in its sole discretion, to liquidate all obligations arising under the Transactions, regardless of Commodity, whereupon they shall terminate, without notice or right to cure, and the monies due as a result of such terminated Transactions immediately shall be determined and netted among the Parties in the following manner:
Close-Out Netting. In the event Introducing Broker: (a) incurs a margin deficit in any Account or a Risk Management Requirement deficit in any Sub-Account, (b) defaults in the payment or performance of any obligation to Interactive under any agreement with Interactive, (c) becomes the subject of a bankruptcy, insolvency or other similar proceeding, or (d) fails to pay its debts generally as they become due, Interactive shall be entitled in its discretion, immediately and at any time to close-out all Introducing Broker’s foreign currency transactions by converting them to the base currency, and may in its discretion at any time or from time to time liquidate all or some of Introducing Broker’s collateral in Interactive’s possession or control on any commercially reasonable basis and apply the proceeds of such collateral to any amounts owing by Introducing Broker to Interactive resulting from the close-out of such foreign currency transactions.
Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB UK account, (b) defaults on any obligation to IB UK and/or its Affiliates, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB UK and/or its Affiliates have the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB UK and/or its Affiliates. (iv) Upon Close-Out Netting or any
