Common use of Commodity Options Clause in Contracts

Commodity Options. The Client acknowledges and agrees that commodity option contracts may not be exercised and must be closed out by offset. Except for cash-settled commodity options, if the Client has not offset commodity options contract positions at least one (1) hour prior to the time specified by an exchange for final settlement, IBIE or its affiliates are authorised to do so, or to sell any position into which the option position is converted upon expiration, or to otherwise liquidate the resulting positions, and credit or debit the Client's account accordingly. The Client shall pay IBIE or its affiliates for all costs and expenses related to such liquidations and shall hold IBIE and its affiliates harmless for any actions taken, or not taken, in connection therewith.

Commodity Options. The Client acknowledges and agrees that commodity option contracts may not be exercised and must be closed out by offset. Except for cash-settled commodity options, if the Client has not offset commodity options contract positions at least one (1) hour prior to the time specified by an exchange for final settlement, IBIE IBLUX or its affiliates are authorised to do so, or to sell any position into which the option position is converted upon expiration, or to otherwise liquidate the resulting positions, and credit or debit the Client's ’s account accordingly. The Client shall pay IBIE IBLUX or its affiliates for all costs and expenses related to such liquidations and shall hold IBIE IBLUX and its affiliates harmless for any actions taken, or not taken, in connection therewith.

Commodity Options. The Client acknowledges and agrees that commodity option contracts may not be exercised and must be closed out by offset. Except for cash-settled commodity options, if the Client has not offset commodity options contract positions at least one (1) hour prior to the time specified by an exchange for final settlement, IBIE IBLUX or its affiliates are authorised to do so, or to sell any position into which the option position is converted upon expiration, or to otherwise liquidate the resulting positions, and credit or debit the Client's account accordingly. The Client shall pay IBIE IBLUX or its affiliates for all costs and expenses related to such liquidations and shall hold IBIE IBLUX and its affiliates harmless for any actions taken, or not taken, in connection therewith.