Common use of Actions Following a Default Event Clause in Contracts

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTC, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without necessity to give prior or any notice to the Client to do any one or more of the following: (i) terminate this agreement in accordance with the termination provisions of these General Terms and Conditions; (ii) close out all or any open positions the Client may have as if the Client had given a Closing Notice to MTC and had accepted the Closing Price determined by MTC; (iii) treat all or any open positions as having been terminated by the Client; (iv) terminate any agreement or account whatsoever the Client has or may have with MTC; (v) if there are insufficient funds in a Client Account to satisfy amounts owing to MTC, MTC may cancel any outstanding orders in order to close such Account or accounts; (vi) satisfy obligations that the Client may have to MTC out of Client property including, money or security in MTC’s custody or control including, without limitation, by selling securities lodged by the Client with MTC or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC in such manner as it sees fit at Client expense; (vii) transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTC; (viii) exercise any power or right that MTC may have in accordance with this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC exercises its rights under this Clause, the Client authorises MTC to close out at its own risk and expense as if the Client had given notice on the date that MTC exercises its right, in accordance with Clause 26 and to cover any amount owed by the Client into US Dollars either at date of Client’s default or on the date on which the Client pays the amount owed to MTC in full. (d) In the event of MTC treating a Contract as having been terminated by the Client and MTC exercising its rights in accordance with this Clause, MTC will calculate the amount owing by the Client or MTC as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTC. (e) Any action taken by MTC in accordance with this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTCLCM, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without necessity to give prior or any notice to the Client to do any one or more of the following: (i) terminate this agreement in accordance with the termination provisions of these General Terms and Conditions; (ii) close out all or any open positions the Client may have as if the Client had given a Closing Notice to MTC LCM and had accepted the Closing Price determined by MTCLCM; (iii) treat all or any open positions as having been terminated by the Client; (iv) terminate any agreement or account whatsoever the Client has or may have with MTCLCM; (v) if there are insufficient funds in a Client Account to satisfy amounts owing to MTCLCM, MTC LCM may cancel any outstanding orders in order to close such Account or accounts; (vi) satisfy obligations that the Client may have to MTC LCM out of Client property including, money or security in MTC’s LCM‟s custody or control including, without limitation, by selling securities lodged by the Client with MTC LCM or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC LCM in such manner as it sees fit at Client the Clients expense; (vii) transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTCLCM; (viii) exercise any power or right that MTC LCM may have in accordance with this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC LCM shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC LCM not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC LCM exercises its rights under this Clause, the Client authorises MTC LCM to close out at its own risk and expense as if the Client had given notice on the date that MTC LCM exercises its right, in accordance with Clause 26 and to cover any amount owed by the Client into US NZ Dollars either at date of Client’s Client‟s default or on the date on which the Client pays the amount owed to MTC LCM in full. (d) In the event of MTC LCM treating a Contract as having been terminated by the Client and MTC LCM exercising its rights in accordance with this Clause, MTC LCM will calculate the amount owing by the Client or MTC LCM as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC LCM will have the right to debit from the Client’s Client‟s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTCLCM. (e) Any action taken by MTC LCM in accordance with this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC LCM may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTCATHERFX LLC, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without the necessity to give prior or any notice to the Client to do any one or more of the following: (i) i. terminate this agreement in accordance with by the termination provisions of these General Terms and Conditions;. (ii) close out . closeout all or any open positions the Client may have as if the Client had given a Closing Notice to MTC ATHERFX LLC and had accepted the Closing Price determined by MTC;ATHERFX LLC. (iii) . treat all or any open positions as having been terminated by the Client;. (iv) . terminate any agreement or account whatsoever the Client has or may have with MTC;ATHERFX LLC. (v) v. if there are insufficient funds in a Client Account to satisfy amounts owing to MTCATHERFX LLC, MTC ATHERFX LLC may cancel any outstanding orders in order to close such Account or accounts;. (vi) . satisfy obligations that the Client may have to MTC ATHERFX LLC out of Client property including, money or security in MTC’s ATHERFX LLC custody or control including, without limitation, by selling securities lodged by the Client with MTC ATHERFX LLC or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC ATHERFX LLC in such manner as it sees fit at Client the Clients expense; (vii) . transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTC;ATHERFX LLC. (viii) . exercise any power or right that MTC ATHERFX LLC may have in accordance with by this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC ATHERFX LLC shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC ATHERFX LLC not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC ATHERFX LLC exercises its rights under this Clause, the Client authorises MTC authorizes ATHERFX LLC to close out at its own risk and expense as if the Client had given notice on the date that MTC ATHERFX LLC exercises its right, in accordance with by Clause 26 and to cover any amount owed by the Client into US Dollars either at the date of Client’s default or on the date on which the Client pays the amount owed to MTC ATHERFX LLC in full. (d) In the event of MTC ATHERFX LLC treating a Contract as having been terminated by the Client and MTC ATHERFX LLC exercising its rights in accordance with by this Clause, MTC ATHERFX LLC will calculate the amount owing by the Client or MTC ATHERFX LLC as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC ATHERFX LLC will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTCATHERFX LLC. (e) Any action taken by MTC in accordance with ATHERFX LLC by this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC ATHERFX LLC may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTCDTS LLC, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without the necessity to give prior or any notice to the Client to do any one or more of the following: (i) i. terminate this agreement in accordance with by the termination provisions of these General Terms and Conditions;. (ii) close out . closeout all or any open positions the Client may have as if the Client had given a Closing Notice to MTC DTS LLC and had accepted the Closing Price determined by MTC;DTS LLC. (iii) . treat all or any open positions as having been terminated by the Client;. (iv) . terminate any agreement or account whatsoever the Client has or may have with MTC;DTS LLC. (v) v. if there are insufficient funds in a Client Account to satisfy amounts owing to MTCDTS LLC, MTC DTS LLC may cancel any outstanding orders in order to close such Account or accounts;. (vi) . satisfy obligations that the Client may have to MTC DTS LLC out of Client property including, money or security in MTC’s DTS LLC custody or control including, without limitation, by selling securities lodged by the Client with MTC DTS LLC or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC DTS LLC in such manner as it sees fit at Client the Clients expense; (vii) . transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTC;DTS LLC. (viii) . exercise any power or right that MTC DTS LLC may have in accordance with by this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC DTS LLC shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC DTS LLC not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC DTS LLC exercises its rights under this Clause, the Client authorises MTC authorizes DTS LLC to close out at its own risk and expense as if the Client had given notice on the date that MTC DTS LLC exercises its right, in accordance with by Clause 26 and to cover any amount owed by the Client into US Dollars either at the date of Client’s default or on the date on which the Client pays the amount owed to MTC DTS LLC in full. (d) In the event of MTC DTS LLC treating a Contract as having been terminated by the Client and MTC DTS LLC exercising its rights in accordance with by this Clause, MTC DTS LLC will calculate the amount owing by the Client or MTC DTS LLC as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC DTS LLC will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTCDTS LLC. (e) Any action taken by MTC in accordance with DTS LLC by this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC DTS LLC may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTC, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without necessity to give prior or any notice to the Client to do any one or more of the following: (i) terminate this agreement in accordance with the termination provisions of these General Terms and Conditions;; Mt.Cook Financial (ii) close out all or any open positions the Client may have as if the Client had given a Closing Notice to MTC and had accepted the Closing Price determined by MTC; (iii) treat all or any open positions as having been terminated by the Client; (iv) terminate any agreement or account whatsoever the Client has or may have with MTC; (v) if there are insufficient funds in a Client Account to satisfy amounts owing to MTC, MTC may cancel any outstanding orders in order to close such Account or accounts; (vi) satisfy obligations that the Client may have to MTC out of Client property including, money or security in MTC’s custody or control including, without limitation, by selling securities lodged by the Client with MTC or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC in such manner as it sees fit at Client expense; (vii) transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTC; (viii) exercise any power or right that MTC may have in accordance with this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC exercises its rights under this Clause, the Client authorises MTC to close out at its own risk and expense as if the Client had given notice on the date that MTC exercises its right, in accordance with Clause 26 and to cover any amount owed by the Client into US Dollars either at date of Client’s default or on the date on which the Client pays the amount owed to MTC in full. (d) In the event of MTC treating a Contract as having been terminated by the Client and MTC exercising its rights in accordance with this Clause, MTC will calculate the amount owing by the Client or MTC as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTC. (e) Any action taken by MTC in accordance with this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTCFidelcrest, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without necessity to give prior or any notice to the Client to do any one or more of the following: (i) i. terminate this agreement in accordance with by the termination provisions of these General Terms and Conditions; (ii) . close out all or any open positions the Client may have as if the Client had given a Closing Notice to MTC Fidelcrest and had accepted the Closing Price determined by MTCFidelcrest; (iii) . treat all or any open positions as having been terminated by the Client; (iv) . terminate any agreement or account whatsoever the Client has or may have with MTCFidelcrest; (v) v. if there are insufficient funds in a Client Account to satisfy amounts owing to MTCFidelcrest, MTC Fidelcrest may cancel any outstanding orders in order to close such Account or accounts; (vi) . satisfy obligations that the Client may have to MTC Fidelcrest out of Client property including, money or security in MTC’s Fidelcrest custody or control including, without limitation, by selling securities lodged by the Client with MTC Fidelcrest or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC Fidelcrest in such manner as it sees fit at Client the Clients expense; (vii) . transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTCFidelcrest; (viii) . exercise any power or right that MTC Fidelcrest may have in accordance with this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC Fidelcrest shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC Fidelcrest not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC Fidelcrest exercises its rights under this Clause, the Client authorises MTC authorized Fidelcrest to close out at its own risk and expense as if the Client had given notice on the date that MTC Fidelcrest exercises its right, in accordance with Clause 26 and to cover any amount owed by the Client into US Dollars EUR either at date of Client’s default or on the date on which the Client pays the amount owed to MTC Fidelcrest in full. (d) In the event of MTC Fidelcrest treating a Contract as having been terminated by the Client and MTC Fidelcrest exercising its rights in accordance with this Clause, MTC Fidelcrest will calculate the amount owing by the Client or MTC Fidelcrest as if the Client had had e) been given a Closing Notice and had accepted the Closing Price determined by us. MTC Fidelcrest will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTCFidelcrest. (ef) Any action taken by MTC Fidelcrest in accordance with this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC Fidelcrest may have to any remedy or damages.

Actions Following a Default Event. (a) Upon or after any Default Event occurs, MTCLucror, without prejudice to any other rights it may have under this agreement, has the right and power in its sole absolute and unfettered discretion and without necessity to give prior or any notice to the Client to do any one or more of the following: (i) terminate this agreement in accordance with the termination provisions of these General Terms and Conditions; (ii) close out all or any open positions the Client may have as if the Client had given a Closing Notice to MTC Lucror and had accepted the Closing Price determined by MTCLucror; (iii) treat all or any open positions as having been terminated by the Client; (iv) terminate any agreement or account whatsoever the Client has or may have with MTCLucror; (v) if there are insufficient funds in a Client Account to satisfy amounts owing to MTCLucror, MTC Lucror may cancel any outstanding orders in order to close such Account or accounts; (vi) satisfy obligations that the Client may have to MTC Lucror out of Client property including, money or security in MTCLucror’s custody or control including, without limitation, by selling securities lodged by the Client with MTC Lucror or setting off obligations such that security transferred as collateral is not required to be returned and to enforce any asset or security held by MTC Lucror in such manner as it sees fit at Client the Clients expense; (vii) transfer from other Client Accounts, if any, such funds as may be required for that purpose to satisfy any obligation the Client may have to MTCLucror; (viii) exercise any power or right that MTC Lucror may have in accordance with this Agreement or in law or equity or take any other form of action as we may be required to take. (b) MTC Lucror shall not forgo any of the rights outlined in this Clause incurred as a result of a delay in the exercise of such rights and should MTC Lucror not exercise any of its rights it reserves the right to do so at any time in the future. (c) Where MTC Lucror exercises its rights under this Clause, the Client authorises MTC Lucror to close out at its own risk and expense as if the Client had given notice on the date that MTC Lucror exercises its right, in accordance with Clause 26 and to cover any amount owed by the Client into US Dollars EUR either at date of Client’s default or on the date on which the Client pays the amount owed to MTC Lucror in full. (d) In the event of MTC Lucror treating a Contract as having been terminated by the Client and MTC Lucror exercising its rights in accordance with this Clause, MTC Lucror will calculate the amount owing by the Client or MTC Lucror as if the Client had been given a Closing Notice and had accepted the Closing Price determined by us. MTC Lucror will have the right to debit from the Client’s Account an amount equal to the amount which would have been payable by the Client had the Contract been closed at the Closing Price. This amount represents the damages incurred by MTCLucror. (e) Any action taken by MTC Lucror in accordance with this Clause shall not limit any other provision of this agreement and be without prejudice to any rights MTC Lucror may have to any remedy or damages.