Common use of LIQUIDATION OF ACCOUNTS Clause in Contracts

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; (c) the filing of an attachment against any of the Customer’s account carried by Xxxxxxxxxx; (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretion, or Xxxxxxxxxx’x determination that any collateral deposited to protect one or more accounts of customer is inadequate, regardless of current market quotations, to secure the account; or (e) any other circumstances or developments that Xxxxxxxxxx deems to require action necessary for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its sole discretion, to take one or more of any portion of the following actions: (1) satisfy any obligation Customer may have to Xxxxxxxxxx, either directly or by way of guaranty or surety ship, out of any of Customer’s funds or property in the custody or control of Xxxxxxxxxx, (2) sell any or all futures contracts, commodities, or securities held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for Customer; (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether ownership interest shall be solely Customer’s or held jointly with others. In liquidating Customer’s long or short position, Xxxxxxxxxx, in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x judgment may be necessary or advisable to protect existing positions in Customer’s account, including by means of an EFP, EFS, EFO, or EFR or similar transaction.

Appears in 11 contracts

Samples: Limited Liability Company Account Agreement, Corporate Account Agreement, Trust Account Agreement

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LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; (c) the filing of an attachment against any of the Customer’s account carried by Xxxxxxxxxx; (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretion, or Xxxxxxxxxx’x determination that any collateral deposited to protect one or more accounts of customer is inadequate, regardless of current market quotations, to secure the account; or (e) any other circumstances or developments that Xxxxxxxxxx deems to require action necessary for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its sole discretion, to take one or more of any portion of the following actions: (1) satisfy any obligation Customer may have to Xxxxxxxxxx, either directly or by way of guaranty or surety shipsuretyship, out of any of Customer’s funds or property in the custody or control of Xxxxxxxxxx, (2) sell any or all futures contracts, commodities, or securities held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for Customer; (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether ownership interest shall be solely Customer’s or held jointly with others. In liquidating Customer’s long or short position, Xxxxxxxxxx, in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x judgment may be necessary or advisable to protect existing positions in Customer’s account, including by means of an EFP, EFS, EFO, or EFR or similar transaction.

Appears in 2 contracts

Samples: Individual Account Agreement, Individual Account Agreement

LIQUIDATION OF ACCOUNTS. In the event of: AAI receives notice of Client’s (a) the death or judicial declaration of incompetency of Customer; incompetency, (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; , or the institution of any insolvency or similar proceeding by or against Client or its parent company, (c) the filing of an attachment against any of the CustomerClient’s account accounts carried by Xxxxxxxxxx; AAI, (d) insufficient margin, failure to deposit funds in a timely manner or maintain margin as determined by Xxxxxxxxxx in its sole discretionor any amount hereunder, or Xxxxxxxxxx’x AAI’s determination that any collateral deposited to protect one or more accounts of customer Client is inadequate, regardless of current market quotations, to secure the account; , or (e) any other circumstances or developments that Xxxxxxxxxx deems to require AAI reasonably believes warrants action necessary be taken for its protection, Xxxxxxxxxx AAI is hereby authorized, but is not required, according to its judgment judgment, and in its sole discretion, to take one or more of or any portion of the following actions: (1) to satisfy any obligation Customer Client may have to XxxxxxxxxxAAI, either directly or by way of guaranty guarantee or surety shipsuretyship, out of any of CustomerClient’s funds or property in the custody or control of XxxxxxxxxxAAI, (2) to sell any or all futures contracts, commodities, or securities held or carried for Customer Client or to purchase any or all futures contracts, commodities, commodities or securities held or carried as a short position for Customer; Client, and (3) to cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of CustomerClient. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or sale, purchase or other notice or advertisement to CustomerClient, his personal representatives, heirs, executors, administrators, legateesits successors, or assigns, and regardless of whether the ownership interest interests shall be solely Customer’s Client s or held jointly with others. In liquidating CustomerClient’s long or short position, Xxxxxxxxxxposition AAI may, in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x AAI’s judgment may be necessary warranted or advisable may accomplish such liquidation in an exchange for physical transaction on the Clients behalf, in AAI’s discretion, in connection with the prompt liquidation of Client’s account or any part thereof. Any sales or purchases hereunder may be made according to protect existing positions AXX’s judgment, and in Customerits discretion, on any exchange or other markets where such business is then usually transacted, or at public auction or at private sale, and AAI may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand or call, or prior notice of the time and place of a sale or purchase shall not be considered a waiver of AAI’s accountright to sell or buy without demand or notice as herein provided. Client shall at all times be liable for the payment of any debit balance upon demand by AAI, and in all cases, Client shall be liable for any deficiency remaining in Client’s account(s) in the event of the liquidation thereof, in whole or in part, by AAI or by Client. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all the liabilities of Client due to AAI, Client shall promptly pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorney’s fees. In the event AAI incurs expenses, including by means legal fees with respect to any of an EFPthe account(s) of Client, EFSthat in any way relate to this Agreement or AAI’s transactions with Client, EFO, or EFR or similar transactionClient agrees to be liable thereof.

Appears in 1 contract

Samples: Futures Client Account Agreement (Campbell Fund Trust)

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerTrader; (b) the filing filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Trader; (c) the filing filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; LVM LTD, (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretioninsufficient margin, or Xxxxxxxxxx’x LVM LTD’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide LVM LTD any information requested pursuant to this Client Agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx LVM LTD deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its LVM LTD’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Trader may have to XxxxxxxxxxLVM LTD, either directly or by way of guaranty or of surety ship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures contracts, commodities, or securities Spot currency positions held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerTrader; and (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. Trader acknowledges that LVM LTD is not liable for any damages as a result of taking any action set forth above including without limitation if such action is inconsistent with Trader’s trading strategy. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxLVM LTD may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x LVM LTD’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to LVM LTD’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and LVM LTD may purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, redemption. Traders shall at all times be liable to LVM LTD for any negative balance or EFR or similar transactiondebit balance in Trader’s account(s).

Appears in 1 contract

Samples: Client Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerTrader; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Trader; (c) the filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; FXTIS , (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x FXTIS ’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide FXTIS any information requested pursuant to this agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx FXTIS deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its FXTIS ’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Trader may have to XxxxxxxxxxFXTIS , either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures contracts, commodities, or securities Spot currency positions held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerTrader; and (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’ s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxFXTIS may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x FXTIS ’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to XXXXX ’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and FXTIS may purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, or EFR or similar transactionredemption. Trader will not be responsible for debit balances directly resulting from trading activity.

Appears in 1 contract

Samples: Client Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency of incompetence by the Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against the Customer; (c) the filing of an attachment against any of the Customer’s account 's accounts carried by Xxxxxxxxxx; FXOpen, (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x FXOpen’s determination that any collateral deposited to protect one or more accounts of customer the Customer is inadequate, regardless of current market quotations, to secure the account; (e) the Customer's failure to provide FXOpen any information requested pursuant to this agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx deems to require action necessary FXOpen may deem appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its FXOpen’s sole discretion, to it may take one or more of more, or any portion of the following actions: (1) satisfy any obligation the Customer may have to XxxxxxxxxxFXOpen, either directly or by way of guaranty or surety ship, out of guarantee with any of the Customer’s 's funds or property in its custody or control or in the custody or control of Xxxxxxxxxx, any FXOpen affiliate; (2) sell any or all futures contracts, commodities, or securities held or carried for Customer or purchase any or all futures FX contracts, commodities, securities or securities other property held or carried as short position for the Customer; (3) cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of with the Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to the Customer, his the Customer's personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely the Customer’s 's or held jointly with others. In liquidating the liquidation of the Customer’s 's long or short positionpositions, XxxxxxxxxxFXOpen may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x FXOpen’s sole judgment may be necessary or advisable to protect or reduce existing positions in the Customer's account. Any sales or purchases hereunder may be made according to FXOpen’s accountjudgment and at its sole discretion. FXOpen does not provide services for the persons who reside in the USA, including its territories or possessions and in the countries identified by means the FATF as high risk and non-cooperative jurisdictions due to adequate AML controls. FXOpen does not accept transfers to/from the accounts held in the banks and/or other payments institutions incorporated in the USA, its territories or possessions or in the Countries identified by the FATF as high risk and non-cooperative jurisdictions due to adequate AML controls. In case FXOpen knows or suspects or has reasonable grounds to know or suspect that the Customer became a resident of an EFPthe USA, EFS, EFOits territories or possessions, or EFR or similar transactionin the countries identified by the FATF as high risk and non-cooperative jurisdictions due to adequate AML controls FXOpen will immediately close all outstanding positions and block the accounts in question.

Appears in 1 contract

Samples: Customer Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerClient; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Client; (c) the filing of an attachment against any of the CustomerClient’s account Accounts carried by Xxxxxxxxxx; Questrade, (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionMargin, or Xxxxxxxxxx’x Questrade’s determination that any collateral deposited to protect one or more accounts Accounts of customer Client is inadequate, regardless of current market quotations, to secure the accountAccount; (e) Client’s failure to provide Questrade any information requested pursuant to this Agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx Questrade deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its Questrade’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Client may have to XxxxxxxxxxQuestrade, either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerClient’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures currency contracts, commodities, or securities Securities held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerClient; and (3) cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of CustomerClient. Any of the above actions may be taken without demand for margin Margin or additional marginMargin, without prior notice of sale or purchase or other notice or advertisement to CustomerClient, his Client’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerClient’s or held jointly with others. In liquidating Customerliquidation of Client’s long or short positionpositions, XxxxxxxxxxQuestrade may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x Questrade’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerClient’s accountAccount. Any sales or purchases hereunder may be made according to Xxxxxxxxx’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including and Questrade may purchase the whole or any part thereof free from any right of redemption. Offset instructions on currency positions open prior to settlement arriving at settlement date must be given to Questrade at least one (1) business day prior to the settlement or value day. Alternatively, sufficient funds to take delivery or the necessary delivery documents must be in the possession of Questrade within the same period described above. If neither instructions, funds nor documents are received, Questrade may without notice, either offset Client’s position or roll Client’s positions into the next settlement time period or make or receive delivery on behalf of Client upon such terms and by means of an EFP, EFS, EFO, or EFR or similar transactionsuch methods deemed reasonable by Questrade in its sole discretion.

Appears in 1 contract

Samples: Client Account Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerTrader; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Trader; (c) the filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; FXAMN , (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x FXAMN ’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide FXAMN any information requested pursuant to this agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx FXAMN deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its FXAMN ’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Trader may have to XxxxxxxxxxFXAMN , either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures contracts, commodities, or securities Spot currency positions held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerTrader; and (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxFXAMN may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x FXAMN ’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to FXAMN ’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and FXAMN may purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, or EFR or similar transactionredemption. Trader will not be responsible for debit balances directly resulting from trading activity.

Appears in 1 contract

Samples: Client Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customeryou; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, by or against you; (c) the filing of an attachment against any of the Customer’s account Account carried by XxxxxxxxxxXxxxxxx Capital; (d) insufficient margin Margin as determined by Xxxxxxxxxx Xxxxxxx Capital’ in its sole discretion, or Xxxxxxxxxx’x Xxxxxxx Capital’ determination that any collateral Collateral deposited to protect one or more accounts of customer your Accounts is inadequate, regardless of current market quotationsquotations or conditions, to secure the accountAccount; (e) your failure to provide us with any information requested pursuant to this Agreement; (f) your failure to pay any amount due to us; (g) your repudiation, breach or anticipatory breach of any provision of this Agreement; or (eh) any other circumstances circumstance or developments development that Xxxxxxxxxx Xxxxxxx Capital deems to require action necessary or appropriate for its protection, Xxxxxxxxxx Xxxxxxx Capital is hereby authorized, according to its judgment and in its sole discretion, to take one or more of or any portion of the following actions: (1i) satisfy any obligation Customer you may have to XxxxxxxxxxXxxxxxx Capital, either directly or by way of guaranty or surety shipsuretyship, out of any of Customer’s funds your funds, property, Margin or property Collateral in the custody or control of Xxxxxxxxxx, Xxxxxxx Capital; (2ii) sell any or all futures contractsContracts, commodities, Collateral or securities held or carried for Customer you or purchase any or all futures contractsContracts, commodities, Collateral or securities held or carried as a short position for Customeryou; (3iii) cancel any or all outstanding orders, Contracts Contracts, or any other commitments made on behalf of Customeryou; (iv) accelerate and treat any or all of your obligations due to Xxxxxxx Capital as immediately due and payable; and (v) terminate any or all of Xxxxxxx Capital’ obligations for future performance to you. Any of the above actions may be taken without demand for margin Margin or additional marginMargin, without prior notice of sale or purchase or other notice or advertisement to Customeryou, his your personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. In liquidating Customer’s long or short position, Xxxxxxxxxx, in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x judgment may be necessary or advisable to protect existing positions in Customer’s account, including by means of an EFP, EFS, EFO, or EFR or similar transactionyour ownership interest.

Appears in 1 contract

Samples: Customer Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency in competency of Customer; , (b) the filing filling of a petition in bankruptcy, or a petition for the appointment of a receiver; , by or against Customer, or any one of the Customers if this is a joint account, (c) the filing filling of an attachment against any of the Customer’s account accounts carried by Xxxxxxxxxx; Alpha Gold, (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x Alpha Gold’s determination that any collateral deposited to protect one or more accounts of customer Customer is inadequate, regardless of current market quotations, to secure the account; , or (e) any other circumstances or developments that Xxxxxxxxxx Alpha Gold deems to require action necessary for its protection, Xxxxxxxxxx Alpha Gold is hereby authorizedauthorised, according to its judgment and in its sole discretion, to take one or more of or any portion of the following actions: : (1) satisfy any obligation Customer may have to XxxxxxxxxxAlpha Gold, either directly or by way of guaranty or surety shipsuretyship, out of any of Customer’s funds or property in the custody or control of Xxxxxxxxxx, Alpha Gold; (2) sell Sell any or all futures commodity contracts, commodities, or securities held or carried carry for Customer or to purchase any or all futures commodity contracts, commodities, commodities or securities held or carried as a short position for Customer; and (3) cancel any or all outstanding orders, Contracts contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest interests shall be solely the Customer’s or held jointly with others. In liquidating Customer’s long or short positionpositions, Xxxxxxxxxx, Alpha Gold in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x Alpha Gold’s judgment may be necessary or advisable to protect existing positions in Customer’s account. Any sales or purchases hereunder may be made according to Alpha Gold’s judgment and at its discretion on any exchange or other market where such business is then usually transacted or at public auction or at private sale, and Alpha Gold may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, call, or notice of the time and place of a sale or purchase shall not be considered a waiver of Alpha Gold’s right to sell or buy without demand or notice as herein provided. Customer at all times shall be liable for the payment of any debit balance upon demand by Alpha Gold and shall be liable for any deficiency remaining in Customer’s account(s) in the event of the liquidation thereof in whole or in part by Alpha Gold or by Customer. In the event the proceeds realised pursuant to this authorisation are insufficient for the payment of all liabilities of Customer due to Alpha Gold, Customer promptly shall pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorneys’ fees. In the event Alpha Gold incurs expenses, including by means legal fees, with respect to any account of an EFPCustomer, EFS, EFO, or EFR or similar transactionCustomer agrees to be liable therefore.

Appears in 1 contract

Samples: Customer Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerTrader; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Trader; (c) the filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; XXXXX, (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x TIUSD’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide TIUSD any information requested pursuant to this agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx TIUSD deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its TIUSD’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Trader may have to XxxxxxxxxxTIUSD, either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures contracts, commodities, or securities Spot currency positions held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerTrader; and (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxTIUSD may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x TIUSD’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to XXXXX’x judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and TIUSD may purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, or EFR or similar transactionredemption. Trader will not be responsible for debit balances directly resulting from trading activity.

Appears in 1 contract

Samples: Client Agreement

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LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customer; , (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; , by or against Customer, or any one of the Customers if this is a joint account, (c) the filing of an attachment against any of the Customer’s account 's accounts carried by Xxxxxxxxxx; FastOne Global Financial Markets Limited, (d) insufficient margin as in relation to the margin determined by Xxxxxxxxxx FastOne Global Financial Markets Limited in its sole discretion, or Xxxxxxxxxx’x FastOne Global Financial Markets Limited determination that any collateral deposited to protect one or more accounts of customer Customer is inadequate, regardless of current market quotations, to secure the account; or , or (e) any other circumstances or developments that Xxxxxxxxxx FastOne Global Financial Markets Limited deems to require action necessary for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its sole discretion, to take one or more of any portion of the following actions: , (1i) satisfy any obligation Customer may have to XxxxxxxxxxFastOne Global Financial Markets Limited, either directly or by way of guaranty or surety ship, out of any of Customer’s 's funds or property in the custody or control of XxxxxxxxxxFastOne Global Financial Markets Limited; (ii) square off (buy or sell) any or all open positions in financial and commodity instruments and products such as Forex, (2) CFDs, Indices, OTC Spot and Forward Contracts, Futures and Options Contracts and Other Derivatives Instruments; sell any or all futures contracts, commodities, or securities properties and collaterals held or carried for Customer in possession of FastOne Global Financial Markets Limited or purchase any or all futures contracts, commodities, or securities held or carried as short position for Customerits affiliate; and (3iii) cancel any or all outstanding orders, Contracts contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customer’s 's or held jointly with others. In liquidating liquida ting Customer’s 's long or short position, XxxxxxxxxxFastOne Global Financial Markets Limited, in its sole discretion, discretion may sell or purchase in the same contract month or initiate new long or short positions in order to establish a hedge, spread or straddle which in Xxxxxxxxxx’x FastOne Global Financial Markets Limited judgment may be necessary or advisable to protect existing positions in Customer’s 's account. Any sales or purchases hereunder may be made according to FastOne Global Financial Markets Limited judgment and at its discretion on any exchange, OTC market or other market where such business is then usually transacted or at public auction or at private sale, and FastOne Global Financial Markets Limited may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, call, or notice of the time and place of a sale or purchase shall not be considered a waiver of FastOne Global Financial Markets Limited right to sell or buy without demand or notice as herein provided. Customer at all times shall be liable for the payment of any debit balance upon demand by FastOne Global Financial Markets Limited, and shall be liable for any deficiency remaining in Customer's account(s) in the event of the liquidation thereof in whole or in part by FastOne Global Financial Markets Limited or by Customer. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Customer due to FastOne Global Financial Markets Limited, Customer promptly shall pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonab le attorneys' fees. Customer agrees to pay all expenses, including attorneys' fees, incurred by means of an EFP, EFS, EFO, FastOne Global Financial Markets Limited and authorizes FastOne Global Financial Markets Limited to collect any debit balances in Customer's account or EFR or similar transactionto defend any unsuccessful claim Customer may bring against FastOne Global Financial Markets Limited.

Appears in 1 contract

Samples: User Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (: a) the death or judicial declaration of incompetency incompetence of Customer; (Trader; b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; (, or the institution of any insolvency or similar proceeding by or against Trader; c) the filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; (Sterling Gent Trading Ltd; d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x Sterling Gent Trading Ltd’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current ofcurrent market quotations, to secure the account; e) Trader’s failure to provide Sterling Gent Trading Ltd any information requested pursuant to this agreement; or (eor f) any other circumstances or developments that Xxxxxxxxxx Sterling Gent Trading Ltd deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its Sterling Gent Trading Ltd’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy : i. Satisfy any obligation Customer Trader may have to XxxxxxxxxxSterling Gent Trading Ltd, either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, (2) sell control; ii. Sell any or all futures contracts, commodities, or securities held or carried for Customer or purchase any or all futures Currency contracts, commodities, or securities held or carried as short position for Customercarriedfor Trader; (3) cancel and iii. Cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxSterling Gent Trading Ltd may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x Sterling Gent Trading Ltd’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to Sterling Gent Trading Ltd’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and Sterling Gent Trading Ltdmay purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, or EFR or similar transactionredemption.

Appears in 1 contract

Samples: Trader Agreement

LIQUIDATION OF ACCOUNTS. In the event of: of (a) the death or judicial declaration of incompetency incompetence of CustomerTrader; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Trader; (c) the filing of an attachment against any of the CustomerTrader’s account accounts carried by Xxxxxxxxxx; ECC , (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x ECC ’s determination that any collateral deposited to protect one or more accounts of customer Trader is inadequate, regardless of current market quotations, to secure the account; (e) Trader’s failure to provide ECC any information requested pursuant to this agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx ECC deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its ECC ’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer Trader may have to XxxxxxxxxxECC , either directly or by way of guaranty or surety shipof suretyship, out of any of CustomerTrader’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or purchase any or all futures contracts, commodities, or securities Spot currency positions held or carried for Customer or purchase any or all futures contracts, commodities, or securities held or carried as short position for CustomerTrader; and (3) cancel any or all outstanding orders, Contracts or any other commitments made on behalf of CustomerTrader. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerTrader, his Trader’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerTrader’s or held jointly with others. In liquidating Customerliquidation of Trader’s long or short positionpositions, XxxxxxxxxxECC may, in its sole discretion, may sell or purchase offset in the same contract month settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x ECC ’s sole judgment may be necessary or advisable to protect or reduce existing positions in CustomerTrader’s account. Any sales or purchases hereunder may be made according to ECC ’s judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, including by means and ECC may purchase the whole or any part thereof free from any right of an EFP, EFS, EFO, or EFR or similar transactionredemption. Trader will not be responsible for debit balances directly resulting from trading activity.

Appears in 1 contract

Samples: Client Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customer; , (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; , by or against Customer, or any one of the Customers if this is a joint account, (c) the filing of an attachment against any of the Customer’s account 's accounts carried by Xxxxxxxxxx; VIBHS Financials Ltd, (d) insufficient margin as in relation to the margin determined by Xxxxxxxxxx VIBHS Financials Ltd in its sole discretion, or Xxxxxxxxxx’x VIBHS Financials Ltd determination that any collateral deposited to protect one or more accounts of customer Customer is inadequate, regardless of current market quotations, to secure the account; or , or (e) any other circumstances or developments that Xxxxxxxxxx VIBHS Financials Ltd deems to require action necessary for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its sole discretion, to take one or more of any portion of the following actions: , (1i) satisfy any obligation Customer may have to XxxxxxxxxxVIBHS Financials Ltd, either directly or by way of guaranty or surety ship, out of any of Customer’s 's funds or property in the custody or control of XxxxxxxxxxVIBHS Financials Ltd; (ii) square off (buy or sell) any or all open positions in financial and commodity instruments and products such as Currency (FX), (2) CFDs, OTC Spot and Forward Contracts, Futures and Options Contracts and Other Derivatives Instruments; sell any or all futures contracts, commodities, or securities properties and collaterals held or carried for Customer in possession of VIBHS Financials Ltd or purchase any or all futures contracts, commodities, or securities held or carried as short position for Customerits affiliate; and (3iii) cancel any or all outstanding orders, Contracts contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement advertis ement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customer’s 's or held jointly with others. In liquidating Customer’s 's long or short position, XxxxxxxxxxVIBHS Financials Ltd, in its sole discretion, discretion may sell or purchase in the same contract month or initiate new long or short positions in order to establish a hedge, spread or straddle which in Xxxxxxxxxx’x VIBHS Financials Ltd judgment may be necessary or advisable to protect existing positions in Cust omer's account. Any sales or purchases hereunder may be made according to VIBHS Financials Ltd judgment and at its discretion on any exchange, OTC market or other market where such business is then usually transacted or at public auction or at private sale, and VIBHS Financials Ltd may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, call, or notice of the time and place of a sale or purchase shall not be considered a waiver of VIBHS Financials Ltd right to sell or buy without demand or notice as herein provided. Customer at all times shall be liable for the payment of any debit balance upon demand by VIBHS Financials Ltd, and shall be liable for any deficiency remaining in Customer’s account's account(s) in the event of the liquidation thereof in whole or in part by VIBHS Financials Ltd or by Customer. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Customer due to VIBHS Financials Ltd, Customer promptly shall pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorneys' fees. Customer agrees to pay all expenses, including attorneys' fees, incurred by means of an EFP, EFS, EFO, or EFR or similar transaction.VIBHS Financials Ltd and authorizes

Appears in 1 contract

Samples: User Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency incompetence of CustomerClient; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Client; (c) the filing of an attachment against any of the CustomerClient’s account accounts carried by XxxxxxxxxxGMI; (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionmargin, or Xxxxxxxxxx’x GMI’s determination that any collateral deposited to protect one or more accounts of customer Client is inadequate, regardless of current market quotations, to secure the account; (e) Client’s failure to provide GMI any information requested pursuant to this Agreement; or (ef) any other circumstances or developments that Xxxxxxxxxx GMI deems to require action necessary appropriate for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its GMI’s sole discretion, to it may take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer may have to Xxxxxxxxxx, either directly or by way of guaranty or surety ship, out of any of Customer’s funds or property in the custody or control of Xxxxxxxxxx, (2) sell any or all futures contracts, commodities, or securities held or carried for Customer or purchase any or all futures currency contracts, commodities, securities or securities other property held or carried as short position for CustomerClient; and (32) cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of Customerwith Client. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to CustomerClient, his Client’s personal representatives, heirs, executors, administrators, legateestrustees, legatees or assigns, assigns and regardless of whether the ownership interest shall be solely CustomerClient’s or held jointly with others. In liquidating And if there are no trading activity and/or balance transactions and/or open positions on the Trading Account (no deposits to/withdrawals from the Trading Account) for any period of 90 (ninety) days, and the account balance is 10 USD or less, such Trading Account shall be deemed as 'Inactive Account' and placed to archive. Inactive Account can be re-activated on Customer’s long or short position, Xxxxxxxxxx, in its sole discretion, may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x judgment may be necessary or advisable to protect existing positions in Customer’s account, including by means of an EFP, EFS, EFO, or EFR or similar transactionrequest.

Appears in 1 contract

Samples: Client Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customer; , (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver; , by or against Customer, or any one of the Customers if this is a joint account, (c) the filing of an attachment against any of the Customer’s account 's accounts carried by Xxxxxxxxxx; FastOne Global Financial Markets Limited, (d) insufficient margin as in relation to the margin determined by Xxxxxxxxxx FastOne Global Financial Markets Limited in its sole discretion, or Xxxxxxxxxx’x FastOne Global Financial Markets Limited determination that any collateral deposited to protect one or more accounts of customer Customer is inadequate, regardless of current market quotations, to secure the account; or , or (e) any other circumstances or developments that Xxxxxxxxxx FastOne Global Financial Markets Limited deems to require action necessary for its protection, Xxxxxxxxxx is hereby authorized, according to its judgment and in its sole discretion, to take one or more of any portion of the following actions: , (1i) satisfy any obligation Customer may have to XxxxxxxxxxFastOne Global Financial Markets Limited, either directly or by way of guaranty or surety ship, out of any of Customer’s 's funds or property in the custody or control of XxxxxxxxxxFastOne Global Financial Markets Limited; (ii) square off (buy or sell) any or all open positions in financial and commodity instruments and products such as Forex, (2) CFDs, Indices, OTC Spot and Forward Contracts, Futures and Options Contracts and Other Derivatives Instruments; sell any or all futures contracts, commodities, or securities properties and collaterals held or carried for Customer in possession of FastOne Global Financial Markets Limited or purchase any or all futures contracts, commodities, or securities held or carried as short position for Customerits affiliate; and (3iii) cancel any or all outstanding orders, Contracts contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice or advertisement to Customer, his personal representatives, heirs, executors, administrators, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customer’s 's or held jointly with others. In liquidating Customer’s 's long or short position, XxxxxxxxxxFastOne Global Financial Markets Limited, in its sole discretion, discretion may sell or purchase in the same contract month or initiate new long or short positions in order to establish a hedge, spread or straddle which in Xxxxxxxxxx’x FastOne Global Financial Markets Limited judgment may be necessary or advisable to protect existing positions in Customer’s 's account. Any sales or purchases hereunder may be made according to FastOne Global Financial Markets Limited judgment and at its discretion on any exchange, OTC market or other market where such business is then usually transacted or at public auction or at private sale, and FastOne Global Financial Markets Limited may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, call, or notice of the time and place of a sale or purchase shall not be considered a waiver of FastOne Global Financial Markets Limited right to sell or buy without demand or notice as herein provided. Customer at all times shall be liable for the payment of any debit balance upon demand by FastOne Global Financial Markets Limited, and shall be liable for any deficiency remaining in Customer's account(s) in the event of the liquidation thereof in whole or in part by FastOne Global Financial Markets Limited or by Customer. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Customer due to FastOne Global Financial Markets Limited, Customer promptly shall pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorneys' fees. Customer agrees to pay all expenses, including attorneys' fees, incurred by means of an EFP, EFS, EFO, FastOne Global Financial Markets Limited and authorizes FastOne Global Financial Markets Limited to collect any debit balances in Customer's account or EFR or similar transactionto defend any unsuccessful claim Customer may bring against FastOne Global Financial Markets Limited.

Appears in 1 contract

Samples: User Agreement

LIQUIDATION OF ACCOUNTS. In the event of: (a) the death or judicial declaration of incompetency of Customerthe Client; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, by or against the Client; (c) the filing of an attachment against any of the CustomerClient’s account Accounts carried by XxxxxxxxxxQuestrade; (d) insufficient margin as determined by Xxxxxxxxxx in its sole discretionMargin, or Xxxxxxxxxx’x Questrade’s determination that any collateral deposited to protect one or more accounts Accounts of customer the Client is inadequate, regardless of current market quotations, to secure the account; Account, or (e) any other circumstances or developments that Xxxxxxxxxx Questrade deems to require action necessary for its protection, Xxxxxxxxxx Questrade is hereby authorized, according to its judgment and in its sole discretion, to take one or more of more, or any portion of of, the following actions: (1) satisfy any obligation Customer the Client may have to XxxxxxxxxxQuestrade, either directly or by way of guaranty or surety shipof suretyship, out of any of Customerthe Client’s funds or property in the its custody or control of Xxxxxxxxxx, control; (2) sell any or all futures Futures contracts, commodities, or securities Securities held or carried for Customer the Client or to purchase any or all futures Futures contracts, commodities, commodities or securities held or Securities carried as a short position for Customerthe Client; and (3) cancel any or all outstanding ordersorders or contracts, Contracts or any other commitments made on behalf of Customerthe Client. Any of the above actions may be taken without demand for margin Margin or additional marginMargin, without prior notice of sale or purchase or other notice or advertisement notification to Customerthe Client, his personal representatives, heirs, executors, administrators, legatees, or assigns, ; and regardless of whether the ownership interest interests shall be solely Customerthe Client’s or held jointly with others. In liquidating Customerthe Client’s long or short position, Xxxxxxxxxx, Questrade in its sole discretion, discretion may sell or purchase in the same contract month or initiate new long or short positions in order to establish a spread or straddle which in Xxxxxxxxxx’x Questrade’s judgment which may be necessary or advisable to protect existing positions in Customerthe Client’s accountAccount. Any sales or purchases hereunder may be made according to Xxxxxxxxx’s judgment and at its discretion on any exchange or other markets where such business is then usually transacted or at public auction or at private sale, and Questrade may purchase the whole or any part thereof free from any right of redemption. It is understood that, in all cases, a prior demand, or call, or prior notice of the time and place of a sale or purchase shall not be considered a waiver of Questrade’s right to sell or buy without demand our notice as herein provided. The Client shall at all times be liable for the payment of any debit balance of the Client upon demand by Questrade, and in all cases, the Client shall be liable for any deficiency remaining in the Client’s Account(s) in the event of the liquidation thereof in whole or in part by Questrade or by the Client. In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all the liabilities of the Client due to Questrade, the Client shall promptly pay, upon demand, the deficit and all unpaid liabilities, together with interest thereon and all costs of collection including reasonable attorneys’ fees. In the event Questrade incurs expenses, including by means legal fees, with respect to any Account of an EFPthe Client, EFS, EFO, or EFR or similar transactionthe Client agrees to be liable thereof.

Appears in 1 contract

Samples: Client Account Agreement

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