Common use of FORCED LIQUIDATION Clause in Contracts

FORCED LIQUIDATION. 17.1 The Client is required to maintain a sufficient level of Deposit. VGP reserves its rights to close out all Open Positions: (a) if at any time the Deposit held by VGP is approaching or is no longer sufficient to cover the negative mark to market value of any or all Open Positions that the Client has open with VGP; or (b) if at any time the pre-agreed Credit Limit assigned to the Client by VGP is no longer sufficient to cover the negative mark to market value of any or all Open Positions that the Client has open with VGP. 17.2 VGP shall have the right, at our sole discretion, to determine the Mark to Market value from time to time. 17.3 In addition to other remedies available to VGP, if the Client fails to pay any amount when due under this Agreement, or if a Default Event occurs, VGP has the right to terminate (by either buying or selling) any or all of the Client’s Open Positions. 17.4 When VGP accepts payment of a Margin Call the Client immediately receives Reciprocal Obligations under the Trade Contract Terms. Margin Call payments purchase that Reciprocal Obligation and are not “client money”.

FORCED LIQUIDATION. 17.1 16.1 The Client is required to maintain a sufficient level of Deposit. VGP reserves its rights to close out all Open Positions: (a) if at any time the Deposit held by VGP is approaching or is no longer sufficient to cover the negative mark xxxx to market value of any or all Open Positions that the Client has open with VGP; or (b) if at any time the pre-agreed Credit Limit assigned to the Client by VGP is no longer sufficient to cover the negative mark xxxx to market value of any or all Open Positions that the Client has open with VGP. 17.2 16.2 VGP shall have the right, at our sole discretion, to determine the Mark Xxxx to Market value from time to time. 17.3 16.3 In addition to other remedies available to VGP, if the Client fails to pay any amount when due under this Agreement, or if a Default Event occurs, VGP has the right to terminate (by either buying or selling) any or all of the Client’s Open Positions. 17.4 16.4 When VGP accepts payment of a Margin Call the Client immediately receives Reciprocal Obligations under the Trade Contract Terms. Margin Call payments purchase that Reciprocal Obligation and are not “client money”.