Common use of Client Default Clause in Contracts

Client Default. 1. In the event of default in the payment of any amount owed to the Bank the Client shall ipso jure be considered to be in default, without notice, and shall owe the default interest calculated on the basis of the current legal annual default interest rate. Default interest shall also be charged over the value of financial instruments whose delivery to the Bank is delayed by the Client. If the Bank proceeds, in line with legislation, with forced acquisition of financial instruments (closing out), the price of the financial instruments that is posted shall be that paid by the Bank for the said forced acquisition of such.

Client Default. 1. In the event of default in the payment of any amount owed to the Bank the Client shall ipso jure be considered to be in default, without notice, and shall owe the default interest calculated on the basis of the current legal annual default interest rate. Default interest shall also be charged over the value of financial instruments securities whose delivery to the Bank is delayed by the Client. If the Bank proceeds, in line goes ahead with legislation, with forced required acquisition of financial instruments securities (closing out), the price of the financial instruments that is posted securities shall be that paid by the Bank for the said forced acquisition of suchtheir required acquisition.

Client Default. 1. In the event of default in the payment of any amount owed to the Bank the Client shall ipso jure be considered to be in default, without notice, and shall owe the default interest calculated on the basis of the current legal annual default interest rate. Default interest shall also be charged over the value of financial instruments whose delivery to the Bank is delayed by the Client. If the Bank proceeds, in line with legislation, with forced acquisition of financial instruments (closing out), the their price of the financial instruments that is posted shall be that paid by the Bank for the said forced acquisition of such.