Derivative Positions definition
Examples of Derivative Positions in a sentence
This Agreement shall continue to apply, and be subject to any collateral provided, until all Derivative Positions in their entirety have been closed/settled and all rights and obligations (whether conditional or unconditional) between the parties under the Agreement have been irrevocably discharged.
However, the Client is not entitled to terminate this Agreement while it has any open Derivative Positions, is otherwise conducting a Transaction with or involving CLSAP NZ, or otherwise owes any amount (actual or contingent) to CLSAP NZ (whether or not then due and payable).
In cases such as these that relate to Derivatives, the Client unconditionally authorises CLSAP NZ to increase its Margin requirements and/or close any or all of the Client's open Derivative Positions.