Common use of CLOSING A CFD TRANSACTION Clause in Contracts

CLOSING A CFD TRANSACTION. 5.1. On a Business Day on which either of us wishes to close any CFD Transaction (whether in whole or in part) either of us may give a Closing Notice to the other specifying the CFD Transaction it wishes to close, the related CFD Instrument, the CFD Quantity and the Closing Date. 5.2. Any Closing Notice served by you shall take effect immediately subject to prevailing Market conditions. 5.3. Any Closing Notice served by us subject to Section 5.1 of this Schedule 4 shall take effect two (2) Business Days following the giving of the Closing Notice. 5.4. Following receipt of a Closing Notice, we shall inform you of the Closing Price of the CFD Transaction and the CFD Transaction will be closed on that price on the Closing Date. Any amounts payable by either part to the CFD Transaction are immediately due and payable on closing and shall be paid on the Contract Settlement Date. 5.5. In addition to our rights in Section 13 (Events of Default) of the Agreement and our rights pursuant to Section 5.1 of this Schedule 4 to serve a Closing Notice, we may in our sole discretion close any CFD Transaction at any time without prior notice in the event that: 5.5.1. It is a “sell” CFD Transaction, and due to illiquidity in the relevant CFD Instrument we are unable to borrow a sufficient number of such CFD Instruments to settle any underlying hedge position in respect of the CFD Transaction; or 5.5.2. We are required, at any time, to a lender to return any CFD Instrument, borrowed by us which relates to a CFD Transaction and we are then unable to maintain a hedge position in respect of that CFD Transaction; or 5.5.3. At any time we are unable to establish or maintain a hedge position in respect of a CFD Transaction; or 5.5.4. You fail to honour a Xxxxxx Call in accordance with Section 11 of the Agreement (Margining Arrangements); or 5.5.5. The Agreement is terminated.

CLOSING A CFD TRANSACTION. 5.1. On a Business Day on which either of us wishes to close any CFD Transaction (whether in whole or in part) either of us may give a Closing Notice to the other specifying the CFD Transaction it wishes to close, the related CFD Instrument, the CFD Quantity and the Closing Date. 5.2. Any Closing Notice served by you shall take effect immediately subject to prevailing Market conditions. 5.3. Any Closing Notice served by us subject to Section 5.1 of this Schedule 4 1 shall take effect two (2) Business Days following the giving of the Closing Notice. 5.4. Following receipt of a Closing Notice, we shall inform you of the Closing Price of the CFD Transaction and the CFD Transaction will be closed on that price on the Closing Date. Any amounts payable by either part to the CFD Transaction are immediately due and payable on closing and shall be paid on the Contract Settlement Date. 5.5. In addition to our rights in Section 13 (Events of Default) of the Agreement and our rights pursuant to Section 5.1 of this Schedule 4 1 to serve a Closing Notice, we may in our sole discretion close any CFD Transaction at any time without prior notice in the event that: 5.5.1. It is a “sell” CFD Transaction, and due to illiquidity in the relevant CFD Instrument we are unable to borrow a sufficient number of such CFD Instruments to settle any underlying hedge position in respect of the CFD Transaction; or 5.5.2. We are required, at any time, to a lender to return any CFD Instrument, borrowed by us which relates to a CFD Transaction and we are then unable to maintain a hedge position in respect of that CFD Transaction; or 5.5.3. At any time we are unable to establish or maintain a hedge position in respect of a CFD Transaction; or 5.5.4. You fail to honour a Xxxxxx Call in accordance with Section 11 of the Agreement (Margining Arrangements); or 5.5.5. The Agreement is terminated.

CLOSING A CFD TRANSACTION. 5.1. On a Business Day on which either of us wishes to close any CFD Transaction (whether in whole or in part) either of us may give a Closing Notice to the other specifying the CFD Transaction it wishes to close, the related CFD Instrument, the CFD Quantity and the Closing Date. 5.2. Any Closing Notice served by you shall take effect immediately subject to prevailing Market conditions. 5.3. Any Closing Notice served by us subject to Section 5.1 of this Schedule 4 shall take effect two (2) Business Days following the giving of the Closing Notice. 5.4. Following receipt of a Closing Notice, we shall inform you of the Closing Price of the CFD Transaction and the CFD Transaction will be closed on that price on the Closing Date. Any amounts payable by either part to the CFD Transaction are immediately due and payable on closing and shall be paid on the Contract Settlement Date. 5.5. In addition to our rights in Section 13 (Events of Default) of the Agreement and our rights pursuant to Section 5.1 of this Schedule 4 to serve a Closing Notice, we may in our sole discretion close any CFD Transaction at any time without prior notice in the event that: 5.5.1. : It is a “sell” CFD Transaction, and due to illiquidity in the relevant CFD Instrument we are unable to borrow a sufficient number of such CFD Instruments to settle any underlying hedge position in respect of the CFD Transaction; or 5.5.2. or We are required, at any time, to a lender to return any CFD Instrument, borrowed by us which relates to a CFD Transaction and we are then unable to maintain a hedge position in respect of that CFD Transaction; or 5.5.3. or At any time we are unable to establish or maintain a hedge position in respect of a CFD Transaction; or 5.5.4. or You fail to honour a Xxxxxx Call in accordance with Section 11 of the Agreement (Margining Arrangements); or 5.5.5. or The Agreement is terminated.

CLOSING A CFD TRANSACTION. 5.1. On a Business Day on which either of us wishes to close any CFD Transaction (whether in whole or in part) either of us may give a Closing Notice to the other specifying the CFD Transaction it wishes to close, the related CFD Instrument, the CFD Quantity and the Closing Date. 5.2. Any Closing Notice served by you shall take effect immediately subject to prevailing Market conditions. 5.3. Any Closing Notice served by us subject to Section 5.1 of this Schedule 4 shall take effect affect two (2) Business Days following the giving of the Closing Notice. 5.4. Following receipt of a Closing Notice, we shall inform you of the Closing Price of the CFD Transaction and the CFD Transaction will be closed on that price on the Closing Date. Any amounts payable by either part to the CFD Transaction are immediately due and payable on closing and shall be paid on the Contract Settlement Date. 5.5. In addition to our rights in Section 13 (Events of Default) of the Agreement and our rights pursuant to Section 5.1 of this Schedule 4 to serve a Closing Notice, we may in our sole discretion close any CFD Transaction at any time without prior notice in the event that: 5.5.1. It is a “sell” CFD Transaction, and due to illiquidity in the relevant CFD Instrument we are unable to borrow a sufficient number of such CFD Instruments to settle any underlying hedge position in respect of the CFD Transaction; or 5.5.2. We are required, at any time, to a lender to return any CFD Instrument, borrowed by us which relates to a CFD Transaction and we are then unable to maintain a hedge position in respect of that CFD Transaction; or 5.5.3. At any time we are unable to establish or maintain a hedge position in respect of a CFD Transaction; or 5.5.4. You fail to honour a Xxxxxx Call in accordance with Section 11 of the Agreement (Margining Arrangements); or 5.5.5. The Agreement is terminated.