Common use of DEFAULT AND DEFAULT REMEDIES Clause in Contracts

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Ltd has. 19.2 Aglobe Investments Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Ltd or Aglobe Investments Ltd ’s associates. 19.3 The Client authorises Aglobe Investments Ltd , at Aglobe Investments Ltd `s discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s property and/or the proceeds of any of the same of which Aglobe Investments Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) in relation to all of a Client`s Contracts, Margin Trades, securities and other business with Aglobe Investments Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Ltd at its reasonable discretion; ii. if the Client fails to remit funds necessary to enable Aglobe Investments Ltd to take delivery under any Contract on the first due date; iii. if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. if the Client dies or becomes of unsound mind; v. if an application is made in respect of the Client for any action pursuant to any bankruptcy and/ or similar acts, as applicable to the Client, or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. if a petition is presented for the winding-up or administration of the Client; vii. if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Ltd); viii. if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin requirements; xii. if any of the representations or warranties given by the Client are, or become, untrue; xiii. if Aglobe Investments Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. if Aglobe Investments Ltd reasonably considers it necessary for its own protection or the protection of its associates. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Ltd shall at its discretion be entitled to: i. sell or charge in any way any or all of the Client`s collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Ltd in its reasonable discretion determines and at the price that Aglobe Investments Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Ltd likely to be, necessary in order for Aglobe Investments Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Ltd considers to be desirable in order to close any Contract; iv. require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Ltd may in its reasonable discretion request; v. to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Ltd may determine, in order to meet obligations incurred under a Contract; vi. reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s or the Client`s obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. close-out all Contracts and net all the Client`s and Aglobe Investments Ltd ’s obligations towards each other as of the date fixed by Aglobe Investments Ltd with effect to third parties 19.6 The Client authorises Aglobe Investments Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Ltd may request in order to protect the rights of Aglobe Investments Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s associates. 19.7 If Aglobe Investments Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates.

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Tickmill Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Tickmill Ltd has. 19.2 Aglobe Investments Tickmill Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Tickmill Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Tickmill Ltd or Aglobe Investments Ltd Tickmill Ltd’s associates. 19.3 The Client authorises Aglobe Investments Ltd Tickmill Ltd, at Aglobe Investments Ltd `s Tickmill Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Tickmill Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Tickmill Ltd or to Aglobe Investments Ltd `s Tickmill Ltd's associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Tickmill Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd Tickmill Ltd): i. if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Tickmill Ltd at its reasonable discretion; ii. if the Client fails to remit funds necessary to enable Aglobe Investments Tickmill Ltd to take delivery under any Contract on the first due date; iii. if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. if the Client dies or becomes of unsound mind; v. if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. if a petition is presented for the winding-up or administration of the Client; vii. if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Tickmill Ltd); viii. if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin Margin requirements; xii. if any of the representations or warranties given by the Client are, or become, untrue; xiii. if Aglobe Investments Tickmill Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or; xiv. if Aglobe Investments Tickmill Ltd reasonably considers it necessary for its own protection or the protection of its associates; xv. The Company reasonably considers that the Client involves the Company in any type of fraud or illegality or breach of Applicable Regulations or the Company is placed at risk of being involved in any type of fraud or illegality or breach of Applicable Regulations if it continues offering Services to the Client, even when this is not due to the Client’s wrongdoing; xvi. Tickmill Ltd reasonably considers that there is a material violation by the Client of the requirements established by legislation of the Republic of Seychelles or other countries having jurisdiction over the Client and/or or his/her trading activities, such being materiality determined in good faith by Tickmill Ltd; xvii. If Tickmill Ltd suspects that the Client is engaged into money laundering activities or terrorist financing or card fraud and/or other criminal activities. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Tickmill Ltd shall at its discretion be entitled to: i. sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Tickmill Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Tickmill Ltd in its reasonable discretion determines and at the price that Aglobe Investments Tickmill Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Tickmill Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Tickmill Ltd likely to be, necessary in order for Aglobe Investments Tickmill Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Tickmill Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Ltd considers to be desirable in order to close any Contract; iv. require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Ltd may in its reasonable discretion request; v. to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Ltd may determine, in order to meet obligations incurred under a Contract; vi. reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s or the Client`s obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. close-out all Contracts and net all the Client`s and Aglobe Investments Ltd ’s obligations towards each other as of the date fixed by Aglobe Investments Ltd with effect to third parties 19.6 The Client authorises Aglobe Investments Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Ltd may request in order to protect the rights of Aglobe Investments Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s associates. 19.7 If Aglobe Investments Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates.

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Tickmill Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Tickmill Ltd has. 19.2 Aglobe Investments Tickmill Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Tickmill Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Tickmill Ltd or Aglobe Investments Ltd Tickmill Ltd’s associates. 19.3 The Client authorises Aglobe Investments Ltd Tickmill Ltd, at Aglobe Investments Ltd `s Tickmill Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Tickmill Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Tickmill Ltd or to Aglobe Investments Ltd `s Tickmill Ltd's associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Tickmill Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. Tickmill Ltd): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Tickmill Ltd at its reasonable discretion; ii. ; ii if the Client fails to remit funds necessary to enable Aglobe Investments Tickmill Ltd to take delivery under any Contract on the first due date; iii. ; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. ; iv if the Client dies or becomes of unsound mind; v. ; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. ; vi if a petition is presented for the winding-up or administration of the Client; vii. ; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Tickmill Ltd); viii. ; viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. ; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. ; x if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. ; xi if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin Margin requirements; xii. ; xii if any of the representations or warranties given by the Client are, or become, untrue; xiii. ; xiii if Aglobe Investments Tickmill Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. or xiv if Aglobe Investments Tickmill Ltd reasonably considers it necessary for its own protection or the protection of its associates. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Tickmill Ltd shall at its discretion be entitled to: i. : i sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Tickmill Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Tickmill Ltd in its reasonable discretion determines and at the price that Aglobe Investments Tickmill Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Tickmill Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. ii buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Tickmill Ltd likely to be, necessary in order for Aglobe Investments Tickmill Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Tickmill Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. ; iii deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Tickmill Ltd considers to be desirable in order to close any Contract; iv. ; iv require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Tickmill Ltd may in its reasonable discretion request; v. ; v to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Tickmill Ltd may determine, in order to meet obligations incurred under a Contract; vi. ; vi reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s Tickmill Ltd's or the Client`s Client's obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Tickmill Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. close-out all Contracts and net all the Client`s and Aglobe Investments Ltd ’s obligations towards each other as of the date fixed by Aglobe Investments Ltd with effect to third parties 19.6 The Client authorises Aglobe Investments Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Ltd may request in order to protect the rights of Aglobe Investments Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s associates. 19.7 If Aglobe Investments Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates.

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Tickmill Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Tickmill Ltd has. 19.2 Aglobe Investments Tickmill Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Tickmill Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Tickmill Ltd or Aglobe Investments Ltd Tickmill Ltd’s associates. 19.3 The Client authorises Aglobe Investments Ltd Tickmill Ltd, at Aglobe Investments Ltd `s Tickmill Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Tickmill Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Tickmill Ltd or to Aglobe Investments Ltd `s Tickmill Ltd's associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Tickmill Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. Tickmill Ltd): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Tickmill Ltd at its reasonable discretion; ii. ; ii if the Client fails to remit funds necessary to enable Aglobe Investments Tickmill Ltd to take delivery under any Contract on the first due date; iii. ; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. ; iv if the Client dies or becomes of unsound mind; v. ; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. ; vi if a petition is presented for the winding-up or administration of the Client; vii. ; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Tickmill Ltd); viii. ; viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. ; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. ; x if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. ; xi if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin Margin requirements; xii. ; xii if any of the representations or warranties given by the Client are, or become, untrue; xiii. ; xiii if Aglobe Investments Tickmill Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. or xiv if Aglobe Investments Tickmill Ltd reasonably considers it necessary for its own protection or the protection of its associates. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Tickmill Ltd shall at its discretion be entitled to: i. : i sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Tickmill Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Tickmill Ltd in its reasonable discretion determines and at the price that Aglobe Investments Tickmill Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Tickmill Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. ii buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Tickmill Ltd likely to be, necessary in order for Aglobe Investments Tickmill Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Tickmill Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. ; iii deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Tickmill Ltd considers to be desirable in order to close any Contract; iv. ; iv require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Tickmill Ltd may in its reasonable discretion request; v. ; v to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Tickmill Ltd may determine, in order to meet obligations incurred under a Contract; vi. ; vi reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s Tickmill Ltd's or the Client`s Client's obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Tickmill Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. and vii close-out all Contracts and net all the Client`s Client's and Aglobe Investments Ltd Tickmill Ltd’s obligations towards each other as of the date fixed by Aglobe Investments Tickmill Ltd with effect to third parties. 19.6 The Client authorises Aglobe Investments Tickmill Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Tickmill Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Tickmill Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Tickmill Ltd may request in order to protect the rights of Aglobe Investments Tickmill Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s Tickmill Ltd's associates. 19.7 If Aglobe Investments Tickmill Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s Client's obligations to Aglobe Investments Tickmill Ltd or to Aglobe Investments Ltd `s Tickmill Ltd's associates. 19.8 Without prejudice to Tickmill Ltd's other rights under this Agreement or under prevailing law, Tickmill Ltd may, at any time and without notice, combine or consolidate any of the accounts maintained by the Client with Tickmill Ltd or any of its associates and off-set any and all amounts owed to, or by, Tickmill Ltd or any of its associates in such manner as Tickmill Ltd at its reasonable discretion may determine.

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Tickmill Asia Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Tickmill Asia Ltd has. 19.2 Aglobe Investments Tickmill Asia Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Tickmill Asia Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Tickmill Asia Ltd or Aglobe Investments Ltd Tickmill Asia Ltd’s associates. 19.3 The Client authorises Aglobe Investments Ltd Tickmill Asia Ltd, at Aglobe Investments Ltd `s Tickmill Asia Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Tickmill Asia Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Tickmill Asia Ltd or to Aglobe Investments Ltd `s Tickmill Asia Ltd's associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Tickmill Asia Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. Tickmill Asia Ltd): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Tickmill Asia Ltd at its reasonable discretion; ii. ; ii if the Client fails to remit funds necessary to enable Aglobe Investments Tickmill Asia Ltd to take delivery under any Contract on the first due date; iii. ; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. ; iv if the Client dies or becomes of unsound mind; v. ; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. ; vi if a petition is presented for the winding-up or administration of the Client; vii. ; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Tickmill Asia Ltd); viii. ; viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. ; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. ; x if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. ; xi if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin Margin requirements; xii. ; xii xii if any of the representations or warranties given by the Client are, or become, untrue; xiii. ; xiii if Aglobe Investments Tickmill Asia Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. or xiv if Aglobe Investments Tickmill Asia Ltd reasonably considers it necessary for its own protection or the protection of its associates. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Tickmill Asia Ltd shall at its discretion be entitled to: i. : i sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Tickmill Asia Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Tickmill Ltd in its reasonable discretion determines and at the price that Aglobe Investments Tickmill Asia Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Tickmill Asia Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. ii buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Tickmill Asia Ltd likely to be, necessary in order for Aglobe Investments Tickmill Asia Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Tickmill Asia Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. ; iii deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Tickmill Asia Ltd considers to be desirable in order to close any Contract; iv. ; iv require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Tickmill Asia Ltd may in its reasonable discretion request; v. ; v to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Tickmill Asia Ltd may determine, in order to meet obligations incurred under a Contract; vi. ; vi reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s Tickmill Asia Ltd's or the Client`s Client's obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Tickmill Asia Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. and vii close-out all Contracts and net all the Client`s Client's and Aglobe Investments Ltd Tickmill Asia Ltd’s obligations towards each other as of the date fixed by Aglobe Investments Tickmill Asia Ltd with effect to third parties. 19.6 The Client authorises Aglobe Investments Tickmill Asia Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Tickmill Asia Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Tickmill Asia Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Tickmill Asia Ltd may request in order to protect the rights of Aglobe Investments Tickmill Asia Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s Tickmill Asia Ltd's associates. 19.7 If Aglobe Investments Tickmill Asia Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s Client's obligations to Aglobe Investments Tickmill Asia Ltd or to Aglobe Investments Ltd `s Tickmill Asia Ltd's associates.

DEFAULT AND DEFAULT REMEDIES. 19.1 18.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Ltd EVA MARKETS or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Ltd EVA MARKETS has. 19.2 Aglobe Investments Ltd 18.2 EVA MARKETS reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Ltd EVA MARKETS owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Ltd EVA MARKETS or Aglobe Investments Ltd EVA MARKETS’s associates. 19.3 18.3 The Client authorises Aglobe Investments Ltd EVA MARKETS, at Aglobe Investments Ltd `s EVA MARKETS's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Ltd EVA MARKETS or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Ltd EVA MARKETS or to Aglobe Investments Ltd `s EVA MARKETS's associates. 19.4 18.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Ltd EVA MARKETS (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. EVA MARKETS): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Ltd EVA MARKETS at its reasonable discretion; ii. ; ii if the Client fails to remit funds necessary to enable Aglobe Investments Ltd EVA MARKETS to take delivery under any Contract on the first due date; iii. ; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. ; iv if the Client dies or becomes of unsound mind; v. ; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. ; vi if a petition is presented for the winding-up or administration of the Client; vii. ; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments LtdEVA MARKETS); viii. ; viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. ; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. ; x if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. xi if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin requirements; xii. Marginrequirements; xii if any of the representations or warranties given by the Client are, or become, untrue; xiii. ; xiii if Aglobe Investments Ltd EVA MARKETS or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. or xiv if Aglobe Investments Ltd EVA MARKETS reasonably considers it necessary for its own protection or the protection of its associates. 19.5 18.5 Upon the occurrence of an Event of Default, Aglobe Investments Ltd EVA MARKETS shall at its discretion be entitled to: i. : i sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Ltd EVA MARKETS or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Ltd EVA MARKETS in its reasonable discretion determines and at the price that Aglobe Investments Ltd EVA MARKETS in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Ltd EVA MARKETS shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. ii buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Ltd EVA MARKETS likely to be, necessary in order for Aglobe Investments Ltd EVA MARKETS to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Ltd EVA MARKETS for the full amount of the purchase price plus any associated costs and expenses; iii. ; iii deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Ltd EVA MARKETS considers to be desirable in order to close any Contract; iv. ; iv require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Ltd EVA MARKETS may in its reasonable discretion request; v. ; v to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Ltd EVA MARKETS may determine, in order to meet obligations incurred under a Contract; vi. ; vi reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s EVA MARKETS's or the Client`s Client's obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Ltd EVA MARKETS at its reasonable discretion) on the date reinvoicing takes place); and vii. and vii close-out all Contracts and net all the Client`s Client's and Aglobe Investments Ltd EVA MARKETS’s obligations towards each other as of the date fixed by Aglobe Investments Ltd EVA MARKETS with effect to third partiesthirdparties. 19.6 18.6 The Client authorises Aglobe Investments Ltd XXX MARKETS to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Ltd EVA MARKETS shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Ltd EVA MARKETS has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Ltd EVA MARKETS may request in order to protect the rights of Aglobe Investments Ltd EVA MARKETS and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s EVA MARKETS's associates. 19.7 18.7 If Aglobe Investments Ltd EVA MARKETS exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s Client's obligations to Aglobe Investments Ltd EVA MARKETS or to Aglobe Investments Ltd `s EVA MARKETS's associates. 18.8 Without prejudice to EVA MARKETS's other rights under this Agreement or under prevailing law, EVA MARKETS may, at any time and without notice, combine or consolidate any of the accounts maintained by the Client with EVA MARKETS or any of its associates and off-set any and all amounts owed to, or by, EVA MARKETS or any of its associates in such manner as EVA MARKETS at its reasonable discretion may determine.

DEFAULT AND DEFAULT REMEDIES. 19.1 The provisions contained in this Clause supplement any other rights that Aglobe Investments Tickmill Asia Ltd or any of its associates have according to this Agreement, including but not limited to the Pledge Agreement referred to in Clause 12, and furthermore any other rights Aglobe Investments Tickmill Asia Ltd has. 19.2 Aglobe Investments Tickmill Asia Ltd reserves the right to retain, or make deductions from, any amounts which Aglobe Investments Tickmill Asia Ltd owes to or is holding for the Client if any amounts are due from the Client to Aglobe Investments Tickmill Asia Ltd or Aglobe Investments Ltd Tickmill Asia Ltd’s associates. 19.3 The Client authorises Aglobe Investments Ltd Tickmill Asia Ltd, at Aglobe Investments Ltd `s Tickmill Asia Ltd's discretion, at any time and without notice, to sell, apply, set-off and/or charge in any manner any or all of the Client`s Client's property and/or the proceeds of any of the same of which Aglobe Investments Tickmill Asia Ltd or any of its associates or Agents has custody or control, in order to discharge any or all of the Client`s Client's obligations to Aglobe Investments Tickmill Asia Ltd or to Aglobe Investments Ltd `s Tickmill Asia Ltd's associates. 19.4 Each and any of the following events shall constitute an event of default (hereinafter referred to as an “Event of Default”) Default in relation to all of a Client`s Client's Contracts, Margin Trades, securities and other business with Aglobe Investments Tickmill Asia Ltd (regardless of whether the Event of Default only relates to part of the business with Aglobe Investments Ltd ): i. Tickmill Asia Ltd): i if the Client fails to make any payment or fails to do any other act required under this Agreement or by Aglobe Investments Tickmill Asia Ltd at its reasonable discretion; ii. ; ii if the Client fails to remit funds necessary to enable Aglobe Investments Tickmill Asia Ltd to take delivery under any Contract on the first due date; iii. ; iii if the Client fails to provide assets for delivery, or take delivery of assets, under any Contract on the first due date; iv. ; iv if the Client dies or becomes of unsound mind; v. ; v if an application is made in respect of the Client for any action pursuant to Bankruptcy Act or any bankruptcy and/ or similar acts, as equivalent act applicable to the Client, Client or, if a partnership, in respect of one or more of the partners, or if a company, that a receiver, trustee, administrative receiver or similar officer is appointed; vi. ; vi if a petition is presented for the winding-up or administration of the Client; vii. ; vii if an order is made or a resolution is passed for the winding-up or administration of the Client (other than for the purposes of amalgamation or reconstruction with the prior written approval of Aglobe Investments Tickmill Asia Ltd); viii. ; viii if any distress, execution or other process is levied against any property of the Client and is not removed, discharged or paid within seven days; ix. ; ix if any security created by any mortgage or charge becomes enforceable against the Client and the mortgagee or chargee takes steps to enforce the security or charge; x. ; x if any indebtedness of the Client or any of its subsidiaries becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of default of the Client (or any of its subsidiaries) or the Client (or any of its subsidiaries) fails to discharge any indebtedness on its due date; xi. ; xi if the Client fails to fully comply with obligations under this Agreement or any Contract, including refrains from complying with margin Margin requirements; xii. ; xii if any of the representations or warranties given by the Client are, or become, untrue; xiii. ; xiii if Aglobe Investments Tickmill Asia Ltd or the Client is requested to close a Contract (or any part of a Contract) by any regulatory agency or authority; or xiv. or xiv if Aglobe Investments Tickmill Asia Ltd reasonably considers it necessary for its own protection or the protection of its associates; xv Tickmill Asia Ltd reasonably considers that the Client involves the Company in any type of fraud or illegality or breach of Applicable Regulations or the Company is placed at risk of being involved in any type of fraud or illegality or breach of Applicable Regulations if it continues offering Services to the Client, even when this is not due to the Client’s wrongdoing; xvi Tickmill Ltd reasonably considers that there is a material violation by the Client of the requirements established by Labuan legislation or other countries having jurisdiction over the Client and/or or his/her trading activities, such being materiality determined in good faith by Tickmill Asia Ltd; xvii If Tickmill Asia Ltd suspects that the Client is engaged into money laundering activities or terrorist financing or card fraud and/or other criminal activities. 19.5 Upon the occurrence of an Event of Default, Aglobe Investments Tickmill Asia Ltd shall at its discretion be entitled to: i. : i sell or charge in any way any or all of the Client`s Client's collateral, assets and property which may from time to time be in the possession or control of Aglobe Investments Tickmill Asia Ltd or any of its associates or Agents or call on any guarantee, without any notice or court order. Sale of Security, assets and property shall take place by means that Aglobe Investments Tickmill Ltd in its reasonable discretion determines and at the price that Aglobe Investments Tickmill Asia Ltd in its reasonable discretion determines to be the best obtainable, provided that Aglobe Investments Tickmill Asia Ltd shall provide a 7-day notice period before realizing Security of any Client, unless immediate sale is necessary to avoid or limit a loss; ii. ii buy or sell any Security, investment or other property where this is, or is in the reasonable opinion of Aglobe Investments Tickmill Asia Ltd likely to be, necessary in order for Aglobe Investments Tickmill Asia Ltd to fulfill its obligations under any Contract and the Client shall reimburse Aglobe Investments Tickmill Asia Ltd for the full amount of the purchase price plus any associated costs and expenses; iii. ; iii deliver any Security, investment or property to any third party, or otherwise take any action Aglobe Investments Tickmill Asia Ltd considers to be desirable in order to close any Contract; iv. ; iv require the Client immediately to close and settle a Contract in such manner as Aglobe Investments Tickmill Asia Ltd may in its reasonable discretion request; v. ; v to enter into any foreign exchange transaction, at such market rates and times as Aglobe Investments Tickmill Asia Ltd may determine, in order to meet obligations incurred under a Contract; vi. ; vi reinvoice all or part of any assets standing to the debit or credit of any Account (including commuting Aglobe Investments Ltd `s Tickmill Asia Ltd's or the Client`s Client's obligation to deliver an asset into an obligation to pay an amount equal to the market value of the asset (determined by Aglobe Investments Tickmill Asia Ltd at its reasonable discretion) on the date reinvoicing takes place); and vii. close-out all Contracts and net all the Client`s and Aglobe Investments Ltd ’s obligations towards each other as of the date fixed by Aglobe Investments Ltd with effect to third parties 19.6 The Client authorises Aglobe Investments Ltd to take any or all of the steps described in this Clause without notice to the Client and acknowledges that Aglobe Investments Ltd shall not be responsible for any consequences of it taking any such steps, unless Aglobe Investments Ltd has exercised gross negligence in connection herewith. The Client shall execute the documents and take the action as Aglobe Investments Ltd may request in order to protect the rights of Aglobe Investments Ltd and its associates under this Agreement or under any agreement the Client may have entered into with Aglobe Investments Ltd `s associates. 19.7 If Aglobe Investments Ltd exercises its rights to sell any Security or property of the Client under this Clause, it will effect such sale, without notice or liability to the Client, on behalf of the Client and apply the proceeds of sale in or towards discharge of any of the Client`s obligations to Aglobe Investments Ltd or to Aglobe Investments Ltd `s associates.