Common use of Client Default Clause in Contracts

Client Default. 2.6.1 Without prejudice to clause 16 of this Agreement, if Client fails to comply with any of its obligations and/or to meet its liabilities under this Third Schedule, including but not limited to failure to provide Margin, and/or in any way commit default of Client’s obligations under the Options Trading Rules, SHKIS may without prior notice to Client: 2.6.1.1 decline to accept further instructions from Client in respect of Exchange Traded Options Business; 2.6.1.2 close out, give-up or exercise some or all of its Client Contracts with SHKIS; 2.6.1.3 enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which SHKIS is exposed in relation to Client’s failure; 2.6.1.4 dispose of Margin, and apply the proceeds thereof to discharge Client’s liabilities to SHKIS; and/or 2.6.1.5 dispose of any or all securities held for or on behalf of Client in order to set off any of its obligations and to exercise any rights of set off SHKIS may have in relation to Client. Any proceeds remaining after discharge of all Client’s liabilities to SHKIS shall be paid to Client. 2.6.2 Client agrees to pay interest on all overdue balances (including interest arising after a judgment debt is obtained against Client) at such rates and on such other terms as SHKIS has notified to Client from time to time. Client agrees that SHKIS shall be entitled (but not obliged), at any time and from time to time, without prior notice, to debit the Account with SHKIS and/or any other account(s) of Client with other member(s) of the Group with any interest due and payable by Client in accordance with this clause 2.6.2 and Client undertakes to, immediately upon demand by SHKIS, do such act(s) and/or execute such document(s) as may be required by SHKIS at any time and from time to time in order to give full effect to each such debit.

Client Default. 2.6.1 Without prejudice to clause 16 of this Agreement, if Client fails to comply with any of its obligations and/or to meet its liabilities under this Third Schedule, including but not limited to failure to provide Margin, and/or in any way commit default of Client’s obligations under the Options Trading Rules, SHKIS GIHKL may without prior notice to Client: 2.6.1.1 decline to accept further instructions from Client in respect of Exchange Traded Options Business; 2.6.1.2 close out, give-up or exercise some or all of its Client Contracts with SHKISGIHKL; 2.6.1.3 enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which SHKIS GIHKL is exposed in relation to Client’s failure; 2.6.1.4 dispose of Margin, and apply the proceeds thereof to discharge Client’s liabilities to SHKISGIHKL; and/or 2.6.1.5 dispose of any or all securities held for or on behalf of Client in order to set off any of its obligations and to exercise any rights of set off SHKIS GIHKL may have in relation to Client. Any proceeds remaining after discharge of all ClientClients’s liabilities to SHKIS GIHKL shall be paid to Client. 2.6.2 Client agrees to pay interest on all overdue balances (including interest arising after a judgment debt is obtained against Client) at such rates and on such other terms as SHKIS GIHKL has notified to Client from time to time. Client agrees that SHKIS GIHKL shall be entitled (but not be obliged), at any time and from time to time, without prior notice, to debit the any Account with SHKIS GIHKL and/or any other account(s) of Client with other member(s) of the Group with any interest due and payable by Client in accordance with this clause Clause 2.6.2 and Client undertakes to, immediately upon demand by SHKISGIHKL, do such act(s) and/or execute such document(s) as may be required by SHKIS GIHKL at any time and from time to time in order to give full effect to each such debit.

Client Default. 2.6.1 Without prejudice to clause 16 of this Agreement, if Client fails to comply with any of its obligations and/or to meet its liabilities under this Third Schedule, including but not limited to failure to provide Margin, and/or in any way commit default of Client’s obligations under the Options Trading Rules, SHKIS SHKOS may without prior notice to Client: 2.6.1.1 decline to accept further instructions from Client in respect of Exchange Traded Options Business; 2.6.1.2 close out, give-up or exercise some or all of its Client Contracts with SHKISSHKOS; 2.6.1.3 enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which SHKIS SHKOS is exposed in relation to Client’s failure; 2.6.1.4 dispose of Margin, and apply the proceeds thereof to discharge Client’s liabilities to SHKISSHKOS; and/or 2.6.1.5 dispose of any or all securities held for or on behalf of Client in order to set off any of its obligations and to exercise any rights of set off SHKIS SHKOS may have in relation to Client. Any proceeds remaining after discharge of all Client’s liabilities to SHKIS SHKOS shall be paid to Client. 2.6.2 Client agrees to pay interest on all overdue balances (including interest arising after a judgment debt is obtained against Client) at such rates and on such other terms as SHKIS SHKOS has notified to Client from time to time. Client agrees that SHKIS SHKOS shall be entitled (but not be obliged), at any time and from time to time, without prior notice, to debit the any Account with SHKIS SHKOS and/or any other account(s) of Client with other member(s) of the Group with any interest due and payable by Client in accordance with this clause 2.6.2 and Client undertakes to, immediately upon demand by SHKIS, do such act(s) and/or execute such document(s) as may be required by SHKIS at any time and from time to time in order to give full effect to each such debit.Clause

Client Default. 2.6.1 Without prejudice to clause 16 of this Agreement, if Client fails to comply with any of its obligations and/or to meet its liabilities under this Third Schedule, including but not limited to failure to provide Margin, and/or in any way commit default of Client’s obligations under the Options Trading Rules, SHKIS SHKOS may without prior notice to Client: 2.6.1.1 decline to accept further instructions from Client in respect of Exchange Traded Options Business; 2.6.1.2 close out, give-up or exercise some or all of its Client Contracts with SHKISSHKOS; 2.6.1.3 enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which SHKIS SHKOS is exposed in relation to Client’s failure; 2.6.1.4 dispose of Margin, and apply the proceeds thereof to discharge Client’s liabilities to SHKISSHKOS; and/or 2.6.1.5 dispose of any or all securities held for or on behalf of Client in order to set off any of its obligations and to exercise any rights of set off SHKIS SHKOS may have in relation to Client. Any proceeds remaining after discharge of all Client’s liabilities to SHKIS SHKOS shall be paid to Client. 2.6.2 Client agrees to pay interest on all overdue balances (including interest arising after a judgment debt is obtained against Client) at such rates and on such other terms as SHKIS SHKOS has notified to Client from time to time. Client agrees that SHKIS SHKOS shall be entitled (but not be obliged), at any time and from time to time, without prior notice, to debit the any Account with SHKIS SHKOS and/or any other account(s) of Client with other member(s) of the Group with any interest due and payable by Client in accordance with this clause Clause 2.6.2 and Client undertakes to, immediately upon demand by SHKISSHKOS, do such act(s) and/or execute such document(s) as may be required by SHKIS SHKOS at any time and from time to time in order to give full effect to each such debit.