Common use of LIQUIDATION LEVEL Clause in Contracts

LIQUIDATION LEVEL. 6.1. Subject to all additional rights of XXXXX.xxx Canada under the Agreement, in the event that, in the sole opinion of XXXXX.xxx Canada and in accordance with XXXXX.xxx Canada’s reasonable best estimate of the then prevailing obtainable market Spot Rates, and regardless of whether or not prior Margin Calls have been issued or met, if the Margin Balance should at any time equal or fall below the Minimum Margin Requirement for Customer’s Account in the aggregate, XXXXX.xxx Canada will have the right but not the obligation to liquidate any part of or all Open Positions in Customer’s Account. Customers are responsible for placing their own Stop Loss Orders to minimize losses. Any failure by XXXXX.xxx Canada to enforce its rights hereunder shall not be deemed a future waiver of such rights by XXXXX.xxx Canada. XXXXX.xxx Canada does not make margin calls in the ordinary course of business but may provide an automated e-mail message to Customer in the event the Customer’s Account is in near proximity of falling below the Minimum Margin Requirement. XXXXX.xxx Canada maintains the right to liquidate Customer positions as described above. However, XXXXX.xxx Canada may from time to time and in its sole discretion, call Customer and request that Customer deposit additional Collateral to secure Customer’s obligations to XXXXX.xxx Canada, over and above the balance in Customer’s Account. Any call for additional margin without exercising the rights to liquidate Customer positions shall not be deemed precedent for future calls nor future waiver of such liquidation rights by XXXXX.xxx Canada.

LIQUIDATION LEVEL. 6.1. Subject to all additional rights of XXXXX.xxx Canada under the Customer Agreement, in the event that, in the sole opinion of XXXXX.xxx Canada and in accordance with XXXXX.xxx Canada’s reasonable best estimate of the then prevailing obtainable market Spot Rates, and regardless of whether or not prior Margin Calls have been issued or met, if the Margin Balance should at any time equal or fall below the Minimum Margin Requirement for Customer’s Account in the aggregate, XXXXX.xxx Canada will have the right but not the obligation to liquidate any part of or all Open Positions in Customer’s Account. Customers Clients are responsible for placing their own Stop Loss Orders to minimize losses. Any failure by XXXXX.xxx Canada to enforce its rights hereunder shall not be deemed a future waiver of such rights by XXXXX.xxx Canada. XXXXX.xxx Canada does not make margin calls in the ordinary course of business but may provide an automated e-mail message to Customer in the event the Customer’s Account is in near proximity of falling below the Minimum Margin Requirement. XXXXX.xxx Canada maintains the right to liquidate Customer positions as described above. However, XXXXX.xxx Canada may from time to time and in its sole discretion, call Customer and request that Customer deposit additional Collateral to secure Customer’s obligations to XXXXX.xxx Canada, over and above the balance in Customer’s Account. Any call for additional margin without exercising the rights to liquidate Customer positions shall not be deemed precedent for future calls nor future waiver of such liquidation rights by XXXXX.xxx Canada.