Common use of FORCED LIQUIDATION Clause in Contracts

FORCED LIQUIDATION. 2.17.1. You are required to maintain a sufficient level of Margin Deposit. We reserve our right to close out all open positions: • if at any time the Margin Deposit held by us is approaching or is no longer sufficient tocover the negative mark to market value of any or all open positions that you have with us; or • If at any time the pre-agreed credit limit assigned to you is no longer sufficient to cover the negative mark to market value of any or all open positions that you have open with us. 2.17.2. We shall have the right, in our absolute discretion, to determine the mark to market value from time to time. In addition to other remedies available to us, if you fail to pay an amount when due under this Agreement, we have the right to close (by either buying or selling) any or all of your open positions. 2.17.3. We are not obliged to contact you before we take the relevant action under clause 2. 17.1. If however we do so, the margin call may be made by email, via the electronic trading platform, telephone call, fax, post or text message. The margin call will be deemed to have been received if we have left a message requesting you to contact us, or if we have been unable to leave a message but made reasonable endeavours to do so.