DEFAULT AND DEFAULT REMEDIES Sample Clauses
DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’:
a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due;
b. your failure to perform any obligation due to us;
c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings;
d. if you are an individual, your death or your incapacity;
e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you;
f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue;
g. you are or become unable to pay your debts as and when they fall due; or
h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.
2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice:
a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us;
b. convert any Currency balances on your account into another Currency;
c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term;
d. charge you interest on any...
DEFAULT AND DEFAULT REMEDIES. 17.1 The provisions contained in this Clause supplement any other rights that the Company or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 10.0, and furthermore any other rights the Company has.
17.2 The Company reserves the right to retain, or make deductions from, any amounts which the Company owes to or is holding for the Customer if any amounts are due from the Customer to the Company or the Company’s associates.
17.3 The Customer authorizes the Company, at the Company's discretion, at any time and with notice, to sell, apply, set-off and/or charge in any manner any or all of the Customer's property and/or the proceeds of any of the same of which the Company or any of its associates or Agents has custody or control, in order to discharge any or all of the Customer's obligations to the Company or to the Company's associates.
17.4 Each and any of the following events shall constitute an EOD in relation to all of a Customer's Contracts, Margin Trades, securities and other business with the Company (regardless of whether the EOD only relates to part of the business with the Company): i if the Customer fails to make any payment or fails to do any other act required under this Agreement or by the Company at its reasonable discretion; ii if the Customer fails to remit funds necessary to enable the Company to take delivery under any Contract on the first due date; iii if the Customer fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv if the Customer dies or becomes of unsound mind; v if an application is made in respect of the Customer for any action pursuant to Bankruptcy Act or any equivalent act applicable to the Customer or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi if a petition is presented for the winding-up or administration of the Customer; vii if an order is made or a resolution is passed for the winding-up or administration of the Customer (other than for the purposes of amalgamation or reconstruction with the prior written approval of the Company); viii if any distress, execution or other process is levied against any property of the Customer and is not removed, discharged or paid within seven days; ix if any security created by any mortgage or charge becomes enforceable against the Custom...
DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Ltd has.
19.2 Aglobe Investments Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Ltd or Aglobe Investments Ltd ’s associates.
19.3 The Client authorises Aglobe Investments Ltd , at Aglobe Investments Ltd `s discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s property and/or the proceeds of any of the same of which Aglobe Investments Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates.
19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) in relation to all of a Client`s Contracts, Margin Trades, securities and other business with Aglobe Investments Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ):
i. if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Ltd at its reasonable discretion;
ii. if the Client fails to remit funds necessary to enable Aglobe Investments Ltd to take delivery under any Contract on the first due date;
iii. if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date;
iv. if the Client dies or becomes of unsound mind;
v. if an application is made in respect of the Client for any action pursuant to any bankruptcy and/ or similar acts, as applicable to the Client, or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed;
vi. if a petition is presented for the winding-up or administration of the Client;
vii. if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Ltd);
vii...
DEFAULT AND DEFAULT REMEDIES. 9.1 A “Specified Default Event” in relation to the Client means any of the following:
(a) the Client failed to pay the Fees to Doo Prime when the Fees are due;
(b) the Client violated or breached of Applicable Statutes And Regulations or any legislation;
(c) Doo Prime considers it is necessary to prevent a violation of Applicable Statutes And Regulations;
(d) the Client failed to pay or meet the Margin required;
(e) the Client breaches any material term of this Agreement;
(f) the Client breaches any of the representation and warranties in Clause 6;
(g) the Client infringe any Intellectual Property Rights in Clause 13;
(h) the Client has made any material misrepresentation or committed fraudulent acts against Doo Prime;
(i) an insolvency or bankruptcy proceeding in any country has been commenced against the Client;
(j) the Client is subject to any material debt restructuring arrangement with the Client’s creditors;
(k) any securities created by the Client’s security interest, mortgage, charge over any of the Client’s assets is enforced by the creditor or banking institution against the Client;
(l) any distress, execution or other process is levied against any of the Client’s property and is not removed, discharged or paid within 7 days;
(m) any Transaction or combination of Transactions or any realised or unrealised loss on any Transaction or combination of Transactions executed by the Client exceeded the credit limit available to the Client;
(n) the Client is dead or becomes of unsound mind;
(o) the Client failed to provide any information requested in relation to any verification or investigation processes undertaken by ▇▇▇ ▇▇▇▇▇;
(p) the Client used any type of virus or other destructive malware that are designed to distort or damage the Trading Platform or the communication system of Doo Prime;
(q) Doo Prime or the Client is required to terminate this Agreement and the Account by any regulatory authority;
(r) the Client has breached any other Doo Prime’s policies or procedures;
(s) Doo Prime has reasonable grounds to believe that the Client has not acted in good faith;
(t) Doo Prime has reasonable grounds to believe that there were errors in the Transactions made; or
(u) any other circumstances where ▇▇▇ ▇▇▇▇▇ has reasonable grounds to believe that it is necessary to exercise its rights under Clause 9.2.
9.2 Where any of the Specified Default Event specified in Clause 9.1 occurs, Doo Prime may at any time thereafter reserves the right to:
(a) terminate ...
DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Tickmill Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Tickmill Ltd has.
19.2 Tickmill Ltd reserves the right to retain, or make deductions from, any amounts which Tickmill Ltd owes to or is holding for the Client if any amounts are due from the Client to Tickmill Ltd or Tickmill Ltd’s associates.
19.3 The Client authorises Tickmill Ltd, at Tickmill Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client's property and/or the proceeds of any of the same of which Tickmill Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client's obligations to Tickmill Ltd or to Tickmill Ltd's associates.
19.4 Each and any of the following events shall constitute an Event of Default in relation to all of a Client's Contracts, Margin Trades, securities and other business with Tickmill Ltd (regardless of whether the Event of Default only relates to part of the business with Tickmill Ltd): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Tickmill Ltd at its reasonable discretion; ii if the Client fails to remit funds necessary to enable Tickmill Ltd to take delivery under any Contract on the first due date; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv if the Client dies or becomes of unsound mind; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any equivalent act applicable to the Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi if a petition is presented for the winding-up or administration of the Client; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Tickmill Ltd); viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix if any security created by any mortgage or charge becomes enforceable again...
DEFAULT AND DEFAULT REMEDIES. 1. Each and any of the following shall constitute an Event of Default:
1.1. if EBH has reasonable grounds to believe that the Client failed to make any payment or that the Client is in material breach of any part of this Agreement;
1.2. when EBH considers it necessary or desirable to prevent what is considered to be a violation of any laws, applicable regulations, or a good standard of market practice;
1.3. if any representations or warranties given by the Client, or his representative in this Agreement, are, or later become, untrue;
1.4. if any action is taken, or an event occurs, which EBH considers to have a material adverse effect on the Client’s ability to perform any of his obligations under the Agreement;
1.5. if EBH cannot verify the Client’s identity, or the Client refuses to provide the required docu- ments and/or information for the verification procedure;
1.6. if the Client provides untrue, inaccurate information or documents during the verification pro- cedure;
1.7. if the Client is unable to pay his debts/obligations when due, or he is indeed bankrupt or insol- vent as defined under any bankruptcy or insolvency law applicable to the Client;
1.8. If a Client’s company becomes insolvent, goes into liquidation or is indeed terminated, EBH reserves the right to terminate this agreement with such a Client;
1.9. if the Client, or any Insolvency Officer acting on either’s behalf, disaffirms, disclaims or ▇▇▇▇▇▇- ▇▇▇▇ any obligation under this Agreement or any guarantee, hypothecation agreement, margin or security agreement, or any other document containing an obligation of a third party, or of the Client, in favour of EBH supporting any of the Client’s obligations under this Agreement;
1.10. if the Client fails to comply with, or perform any obligation under an applicable rules or policies of EBH;
1.11. if any Event of Default (however described) occurs in relation to any other agreement that the Client may have with EBH.
2. In an Event of Default, EBH may, in its sole and absolute discretion, take all or any of the following actions:
2.1. close any Open Positions or cancel any Orders on the Client’s Account;
2.2. remove the Client from the Company’s bonus system;
2.3. prohibit the Client from accessing or using the Client’s Account and EBH Dashboard;
2.4. suspend or limit in any way the Client’s ability to place an Order, give an instruction or effectu- ate any Transaction in relation to the Client’s Account;
2.5. vary the Margin Requirements appli...
DEFAULT AND DEFAULT REMEDIES. The provisions contained in this Clause 13 supplement any other rights that Galt & ▇▇▇▇▇▇▇ or any of its affiliates and associates have according to the Terms, including but not limited to the Right to Sell referred to in Clause 11, and furthermore any other rights Galt & ▇▇▇▇▇▇▇ has according to Georgian law.
DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that ZAINFXM or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights ZAINFXM has.
19.2 ZAINFXM reserves the right to retain, or make deductions from, any amounts which ZAINFXM owes to or is holding for the Client if any amounts are due from the Client to ZAINFXM or ZAINFXM associates.
19.3 The Client authorizes ZAINFXM, at ZAINFXM discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client's property and/or the proceeds of any of the same of which ZAINFXM or any of its associates or Agents has custody or control, in order to discharge any or all of the Client's obligations to ZAINFXM or to ZAINFXM associates.
19.4 Each and any of the following events shall constitute an Event of Default in relation to all of a Client's Contracts, Margin Trades, securities and other business with ZAINFXM (regardless of whether the Event of Default only relates to part of the business with ZAINFXM): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by ZAINFXM at its reasonable discretion; ii if the Client fails to remit funds necessary to enable ZAINFXM to take delivery under any Contract on the first due date; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv if the Client dies or becomes of unsound mind; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any equivalent act applicable to the Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi if a petition is presented for the winding-up or administration of the Client; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of ZAINFXM); viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or charge takes steps to enforce the security or charg...
DEFAULT AND DEFAULT REMEDIES. 17.1 An “Specified Default Event” in relation to you means any of the following:
(a) you failed to pay the any commission, fees and charges to DFAL when such amount is due;
(b) you violated or breached of Applicable Statutes And Regulations or any legislation;
(c) DFAL considers it is necessary to prevent a violation of Applicable Statutes And Regulations;
(d) you breach any material term of this Agreement;
(e) you breach any of the representation and warranties in Clause 6;
(f) you infringe any Intellectual Property Rights in Clause 20;
(g) you have made any material misrepresentation or committed fraudulent acts against DFAL;
(h) an insolvency or bankruptcy proceeding in any country has been commenced against you;
(i) you are subject to any material debt restructuring arrangement with your creditors;
(j) any Financial Products created by your security interest, mortgage, charge over any of your assets is enforced by the creditor or banking institution against you;
(k) any distress, execution or other process is levied against any of your property and is not removed, discharged or paid within 7 days;
(l) any Orders or combination of them, or any realised or unrealised loss on any Orders or combination of them executed by you exceeded the credit limit available to you;
DEFAULT AND DEFAULT REMEDIES. FXC reserves the right to retain, or make deductions from, any amounts which FXC owes to or is holding for the Client if any amounts are due from the Client to FXC or FXC’s associates.