Default in Making Payment Sample Clauses

Default in Making Payment. (a) If you default in paying any amount due and payable to us, to any of our associated entities or any Affiliate, we are authorized to and may at our absolute discretion transfer, sell or apply or initiate the transfer, sale or application of any Securities or Investments (including any proceeds of sale) or balance in the Accounts in satisfaction of your obligations, without prior notice to or consent from you. (b) We are also authorized to exchange any funds that we hold for or on your account into any foreign currency without your consent or prior notice to you so as to settle any Transaction, and / or any amount that is due and payable to us or to any of our associated entities or Affiliate. For the avoidance of doubt, any profit or loss arising as a result of any foreign exchange rate fluctuation will be entirely at your risk and we shall deduct any fees and expenses related thereto from any of the Accounts.