Common use of DEFAULT AND DEFAULT REMEDIES Clause in Contracts

DEFAULT AND DEFAULT REMEDIES. 17.1 An “Specified Default Event” in relation to you means any of the following: (a) you failed to pay the any commission, fees and charges to DFAL when such amount is due; (b) you violated or breached of Applicable Statutes And Regulations or any legislation; (c) DFAL considers it is necessary to prevent a violation of Applicable Statutes And Regulations; (d) you breach any material term of this Agreement; (e) you breach any of the representation and warranties in Clause 6; (f) you infringe any Intellectual Property Rights in Clause 20; (g) you have made any material misrepresentation or committed fraudulent acts against DFAL; (h) an insolvency or bankruptcy proceeding in any country has been commenced against you; (i) you are subject to any material debt restructuring arrangement with your creditors; (j) any Financial Products created by your security interest, mortgage, charge over any of your assets is enforced by the creditor or banking institution against you; (k) any distress, execution or other process is levied against any of your property and is not removed, discharged or paid within 7 days; (l) any Orders or combination of them, or any realised or unrealised loss on any Orders or combination of them executed by you exceeded the credit limit available to you;