Common use of Dollar Limit Clause in Contracts

Dollar Limit. SHKB may limit the aggregate contract value(s) of the Client’s overall net position(s) in respect of any or more or all of the Products to such amount(s) in US Dollars as may be determined by SHKB from time to time. The said aggregate contract value(s) shall be calculated on the basis that where the contract in question was originally denominated in US Dollars, the US Dollar value of such contract shall be the basis of valuation and where the contract in question was originally denominated in currencies other than US Dollars, the contract value shall be converted into US Dollars at such rate as SHKB shall, in its absolute discretion, determine with reference to the prevailing money market rate of exchange for selling US Dollars on the date of contract. PROVIDED ALWAYS that SHKB may at any time and from time to time without prior notice to the Client vary or limit or restrict or enlarge or extend any or more or all of such limits and neither SHKB nor any member of the Group shall be under any obligation to give notice to the Client in case his positions are nearing or beyond the trading limits or otherwise provide the Client with information with respect to his positions.