Common use of Asset Sale Clause in Contracts

Asset Sale. Without prejudice to any power or right that SM may otherwise have under applicable law, should you fail to pay SM any amounts due and owing under the terms of this Agreement and any other amounts owing to SM, and such default in payment continues for ninety (90) days, You authorize SM to select and sell such quantity of Precious Metals, from your Account in the amount required to recover the balance payable by You. After deducting the amount You owe SM and adding any costs SM may incur in the sale transaction, including, but not limited to, its reasonable legal fees and costs, if any, SM will credit to You any balance that may remain from such sale.

Asset Sale. Without prejudice to any power or right that SM may otherwise have under applicable law, should you fail to pay SM any amounts due and owing under the terms of this Agreement and any other amounts owing to SM, and such default in payment continues for ninety (90) days, You authorize SM to select and sell liquidate such quantity of Precious Metals, determined solely at SM’s discretion, from your Account in the amount required to recover the balance payable owed by You. After deducting the amount due that You owe SM and adding any incurred costs SM may incur in the sale transactionSM, including, but not limited to, its reasonable legal fees and liquidation costs, if any, SM will credit to You any balance that may remain from such asset sale.