Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB account, (b) defaults on any obligation to IB, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB has the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB.
Appears in 6 contracts
Samples: Customer Agreement (Kestenbaum Capital, LLC), Customer Agreement, Customer Agreement
Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB account, (b) defaults on any obligation to IB, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB has the right but not the obligation to close-out Customer's ’s Forex transactions, liquidate all or some of Customer's ’s collateral and apply the proceeds to any debt to IB.
Appears in 1 contract
Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB account, (b) defaults on any obligation to IB, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB has the right but not the obligation to close-close out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to IB.
Appears in 1 contract
Samples: Customer Agreement
