Common use of CLOSING A TRANSACTION Clause in Contracts

CLOSING A TRANSACTION. UNDATED TRANSACTIONS (1) Subject to this Agreement and any requirement we may specify in relation to Linked Transactions, you may close an open Undated Transaction or any part of such open Undated Transaction at any time. (2) Subject to Term 4(11), when you close an Undated Transaction, the Closing Level will be, if you are closing an Undated Transaction that is a Buy, the lower figure then quoted by us and, if you are closing an Undated Transaction that is a Sell, the higher figure then quoted by us. This will not be the case when: (a) your closing level is improved in accordance with Term 4(11), where your closing level will be the more favourable price; and (b) a Transaction is initiated pursuant to an Order, where your closing level will be in accordance with the parameters set out in that Order and the terms of that Order.

CLOSING A TRANSACTION. UNDATED TRANSACTIONSUndated Transactions (1) Subject to this Agreement and any requirement we may specify in relation to Linked Transactions, you may close an open Undated Transaction or any part of such open Undated Transaction at any time. (2) Subject to Term 4(113(11), when you close an Undated Transaction, the Closing Level will be, if you are closing an Undated Transaction that is a Buy, the lower figure then quoted by us and, if you are closing an Undated Transaction that is a Sell, the higher figure then quoted by us. This will not be the case when: (a) your Your closing level is improved in accordance with Term 4(113(11), where your closing level will be the more favourable price; and (b) a Transaction is initiated pursuant to an Order, where your closing level will be in accordance with the parameters set out in that Order and the terms of that Order.