Close-Out Netting. If Customer: (a) incurs a margin deficit in any IB UK account, (b) defaults on any obligation to IB UK and/or its Affiliates, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, IB UK and/or its Affiliates have 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 UK and/or its Affiliates.
Appears in 4 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
