Common use of Forced Clause in Contracts

Forced. LIQUIDATION 12.1 The Company has the right to request the Client to maintain the level of collaterals for guarantees at the rate 100%. Such claim takes an effect from the moment of delivery of the claim to the Client by any of means stipulated under the Agreement. 12.1.1 Not later than 15:00 on the next business day after delivery to the Client of the claim for the maintenance of collaterals for guarantees at the rate 100%, the Client is obliged to provide at its account the required assets or to deliver the Instruction for closing of open positions. 12.1.2 In case of Client’s failure to comply with the requirements stated in paragraph 12.1.1 of the Agreement WWF has the right to carry out Forced Liquidation of Client’s position without prior notice to the Client.