Master Netting. “(a) In addition to the Termination Payment calculated under Section 5.2 and 5.3 of the Master Agreement, for purposes of this Confirmation Agreement due to an Event of Default, the Non-Defaulting Party shall calculate a “FPCSC Termination Payment” by aggregating all “Settlement Amounts” and/or “Termination Payments” (however calculated) due under this Confirmation Agreement and any other Fixed Price Customer Supply Contracts into a single amount by: netting out (a) all “Settlement Amounts” and/or “Termination Payments” that are due or will become due to the Defaulting Party, plus, at the option of the Non- Defaulting Party, any cash or other form of security then available to the Non-Defaulting Party and actually received, liquidated and retained by the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Confirmation Agreement or any other Fixed Price Customer Supply Contracts against (b) all “Settlement Amounts” and/or “Termination Payments” that are due or will become due to the Non-Defaulting Party, plus any or all other amounts due to the Non- Defaulting Party under this Confirmation Agreement or any other Fixed Price Customer Supply Contracts, so that all such amounts shall be netted out to a single liquidated amount owed by one Party to the other. Such single FPCSC Termination Payment will be payable within five (5) Business Days by the Party owing such amount to the other.
Master Netting. Despite any other Term of this Schedule or elsewhere, the net payment obligation which arises under the other previsions of this Schedule 2 must first be applied in setting off against amounts standing to the credit or debit of the Account, so that the Balance will be increased or decreased by application for that netted obligation’s amount, unless FP Markets in its discretion waives that to some or all of the extent of that amount. Client acknowledges that FP Markets would not agree to the Account but for each of the Client and FP Markets being bound by this master netting.
Master Netting. Despite any other Term of this Schedule or elsewhere, the net payment obligation which arises under the other provisions of this Schedule 2 must first be applied in setting off against amounts standing to the credit or debit of the Account, so that the Balance will be increased or decreased by application for that netted obligation’s amount, unless ZERO Securities Pty Ltd in its discretion waives that to some or all of the extent of that amount. Client acknowledges that ZERO Securities Pty Ltd would not agree to the Account but for each of the Client and ZERO Securities Pty Ltd being bound by this master netting.
