Common use of LIQUIDATION OF OFFSETTING POSITIONS Clause in Contracts

LIQUIDATION OF OFFSETTING POSITIONS. FIMAT shall liquidate any contract for which an offsetting order is entered by Customer on a first in, first out (“FIFO”) basis, unless Customer instructs FIMAT not to liquidate such contract and to maintain the offsetting contracts as open positions; provided, that FIMAT shall not be obligated to comply with any such instructions given by Customer if Customer fails to provide FIMAT with any representations, documentation or information reasonably requested by FIMAT or if in FIMAT’s reasonable judgment, any failure to liquidate such offsetting contracts against each other on a FIFO basis would result in a violation of Applicable Law.

LIQUIDATION OF OFFSETTING POSITIONS. FIMAT shall liquidate any contract for which an offsetting order is entered by Customer on a first in, first out (“"FIFO”") basis, unless Customer instructs FIMAT not to liquidate such contract and to maintain the offsetting contracts as open positions; provided, that FIMAT shall not be obligated to comply with any such instructions given by Customer if Customer fails to provide FIMAT with any representations, documentation or information reasonably requested by FIMAT or if in FIMAT’s 's reasonable judgment, any failure failure, to liquidate such offsetting contracts against each other on a FIFO basis would result in a violation of Applicable Law.

LIQUIDATION OF OFFSETTING POSITIONS. FIMAT shall liquidate any contract for which an offsetting order is entered by Customer on a first in, first out (“"FIFO”") basis, unless Customer instructs FIMAT not to liquidate such contract and to maintain the offsetting contracts as open positions; provided, provided that FIMAT shall not be obligated to comply with any such instructions given by Customer if Customer fails to provide FIMAT with any representations, documentation or information reasonably requested by FIMAT or if in FIMAT’s 's reasonable judgment, any failure to liquidate such offsetting contracts against each other on on. a FIFO basis would result in a violation of Applicable LawApplicable.