Common use of Satisfaction of Claims Clause in Contracts

Satisfaction of Claims. 1. In the event that a claim against the Client arises in favor of AKCENTA as a consequence of the failure to realize a Trade or early termination of a Trade or rescission of Agreement, AKCENTA may satisfy its claim against the Client, which is secured by Financial Collateral created under the Agreement and this Schedule and which has become due and payable and as a result of the occurrence of any of the above specified facts, by exercising its rights to satisfaction from Financial Collateral (see Art. I(5) of this Schedule), unless the claims which have become due and payable are satisfied in another way. In such case, the Client shall provide AKCENTA with any and all cooperation required for the exercise of its right to satisfaction from Financial Collateral in accordance with the provisions of Section 17 of the Financial Collateral Act.

Satisfaction of Claims. 1. In the event that a claim against the Client arises in favor of AKCENTA as a consequence of the failure to realize a Trade or early termination of a Trade or rescission of Agreement, AKCENTA may satisfy its claim against the Client, which is secured by Financial Collateral created under the Agreement and this Schedule and which has become due and payable and as a result of the occurrence of any of the above specified specified facts, by exercising its rights to satisfaction from Financial Collateral (see Art. I(5) of this Schedule), unless the claims which have become due and payable are satisfied satisfied in another way. In such case, the Client shall provide AKCENTA with any and all cooperation required for the exercise of its right to satisfaction from Financial Collateral in accordance with the provisions of Section 17 of the Financial Collateral Act.