Common use of Liquidation of Positions Clause in Contracts

Liquidation of Positions. In the event that (a) Customer shall fail to timely deposit or maintain margin or any amount hereunder; (b) Customer (if an individual) shall die or be judicially declared incompetent or (if an entity) shall be dissolved or otherwise terminated; (c) a proceeding under the Bankruptcy Act, an assignment for the benefit of creditors, or an application for a receiver, custodian,or trustee shall be filed or applied for by or against Customer;(d)attachment is levied against Customer’s account; (e) the property deposited as collateral is determined by JMI Brokers LTD in its sole discretion, regardless of current market quotations, to be in adequate to properly secure the account; or (f) at anytime JMI Brokers LTD deems it necessary for its protection for any reason whatsoever, JMI Brokers LTD may, in the manner it deems appropriate, close out Customer’s open positions in whole or in part, sell any or all of Customer’s property held by JMI Brokers LTD , buy any securities, Commodity Contracts, or other property for Customer’s account, and may cancel any outstanding orders and commitments made by JMI Brokers LTD on behalf of Customer. Such sale, purchase or cancellation maybe made at JMI Brokers LTD discretion without advertising the same and without notice to Customer or his personal representatives and without prior tender, demand for margin or payment, or call of any kind upon Customer. JMI Brokers LTD may purchase the whole or any part there of free from any right of red emption. It is understood that a prior demand or call or prior notice of the time and place of such sale or purchase shall not be a waiver of JMI Brokers LTD right to sell or buy without demand or notice as here in provided. Subject to applicable laws and rules, and in order to prevent non-permitted trading in debit/deficit accounts, profits on any trades executed without JMI Brokers LTD’s express permission, for a Customer account that is debit/deficit at the time the order is placed ,shall before JMI Brokers LTD account if JMI Brokers LTD in its discretion so elects. Losses on any such trades shall be jointly and severally borne by the Introducing Broker, if any, and the Customer. Customer shall remain liable for and pay JMIBrokers LTD the amount of any deficiency in any account of Customer with JMI Brokers LTD resulting from any transaction described above. Our determination of the current market value and the amount of additional and/or variation margin shall be conclusive and shall not be challenged by the Customer.

Liquidation of Positions. In the event that (a) Customer shall fail to timely deposit or maintain margin or any amount hereunder; (b) Customer (if an individual) shall die or be judicially declared incompetent or (if an entity) shall be dissolved or otherwise terminated; (c) a proceeding under the Bankruptcy Act, an assignment for the benefit of creditors, or an application for a receiver, custodian,, or trustee shall be filed or applied for by or against Customer;(d)attachment is levied against Customer’s account; (e) the property deposited as collateral is determined by JMI Brokers LTD in its sole discretion, regardless of current market quotations, to be in adequate to properly secure the account; or (f) at anytime JMI Brokers LTD deems it necessary for its protection for any reason whatsoever, JMI Brokers LTD may, in the manner it deems appropriate, close out Customer’s open positions in whole or in part, sell any or all of Customer’s property held by JMI Brokers LTD , buy any securities, Commodity Contracts, or other property for Customer’s account, and may cancel any outstanding orders and commitments made by JMI Brokers LTD on behalf of Customer. Such sale, purchase or cancellation maybe made at JMI Brokers LTD discretion without advertising the same and without notice to Customer or his personal representatives and without prior tender, demand for margin or payment, or call of any kind upon Customer. JMI Brokers LTD may purchase the whole or any part there of free from any right of red emption. It is understood that a prior demand or call or prior notice of the time and place of such sale or purchase shall not be a waiver of JMI Brokers LTD right to sell or buy without demand or notice as here in provided. Subject to applicable laws and rules, and in order to prevent non-permitted trading in debit/deficit accounts, profits on any trades executed without JMI Brokers LTD’s express permission, for a Customer account that is debit/deficit at the time the order is placed ,shall before JMI Brokers LTD account if JMI Brokers LTD in its discretion so elects. Losses on any such trades shall be jointly and severally borne by the Introducing Broker, if any, and the Customer. Customer shall remain liable for and pay JMIBrokers LTD JMI Limited, Corp the amount of any deficiency in any account of Customer with JMI Brokers LTD resulting from any transaction described above. Our determination of the current market value and the amount of additional and/or variation margin shall be conclusive and shall not be challenged by the Customer.

Liquidation of Positions. In the event that (a) Customer shall fail to timely deposit or maintain margin or any amount hereunder; (b) Customer (if an individual) shall die or be judicially declared incompetent or (if an entity) shall be he dissolved or otherwise terminated; (c) a proceeding under the Bankruptcy Act, an assignment for the benefit of creditors, or an application for a receiver, custodian,, or trustee shall be filed or applied for by or against Customer;(d)attachment Customer; (d) attachment is levied against Customer’s 's account; (e) the property deposited as collateral is determined by JMI Brokers LTD CFG in its sole discretion, regardless of current market quotations, to be in adequate inadequate to properly secure the account; or (f) at anytime JMI Brokers LTD any time CFG deems it necessary for its protection for any reason whatsoever, JMI Brokers LTD CFG may, in the manner it deems appropriate, close out Customer’s 's open positions in whole or in part, sell any or all of Customer’s 's property held by JMI Brokers LTD CFG, buy any securities, Commodity Contracts, or other property for Customer’s 's account, and may cancel any outstanding orders and commitments made by JMI Brokers LTD CFG on behalf of Customer. Such sale, purchase or cancellation maybe may be made at JMI Brokers LTD CFG's discretion without advertising the same and without notice to Customer or his personal representatives and without prior tender, demand for margin or payment, or call of any kind upon Customer. JMI Brokers LTD CFG may purchase the whole or any part there of thereof free from any right of red emptionredemption. It is understood that a prior demand or call or prior notice of the time and place of such sale or purchase shall not be a waiver of JMI Brokers LTD CFG's right to sell or buy without demand or notice as here in herein provided. Subject to applicable laws and rules, and in order to prevent non-permitted trading in debit/deficit accounts, profits on any trades executed without JMI Brokers LTD’s CFG's express permission, for a Customer account that is debit/deficit at the time the order is placed ,placed, shall before JMI Brokers LTD be for CFG's account if JMI Brokers LTD CFG in its discretion so elects. Losses on any such trades shall be jointly and severally borne by the Introducing Broker, if any, and the Customer. Customer shall remain liable for and pay JMIBrokers LTD CFG the amount of any deficiency in any account of Customer with JMI Brokers LTD CFG resulting from any transaction described above. Our determination of the current market value and the amount of additional and/or variation margin shall be conclusive and shall not be challenged by the Customer.

Liquidation of Positions. In the event that (a) Customer shall fail to timely deposit or maintain margin or any amount hereunder; (b) Customer (if an individual) shall die or be judicially declared incompetent or (if an entity) shall be dissolved or otherwise terminated; (c) a proceeding under the Bankruptcy Act, an assignment for the benefit of creditors, or an application for a receiver, custodian,, or trustee shall be filed or applied for by or against Customer;(d)attachment Customer; (d) attachment is levied against Customer’s 's account; (e) the property deposited as collateral is determined by JMI Brokers LTD JP Markets SA in its sole discretion, regardless of current market quotations, to be in adequate inadequate to properly secure the account; or (f) at anytime JMI Brokers LTD deems any time JP Markets XX xxxxx it necessary for its protection for any reason whatsoever, JMI Brokers LTD JP Markets SA may, in the manner it deems appropriateappropriate and without prior notice or demand, close out Customer’s 's open positions in whole or in part, sell any or all of Customer’s 's property held by JMI Brokers LTD JP Markets SA, buy any securities, Commodity Contracts, or other property for Customer’s 's account, and may cancel any outstanding open orders and commitments made by JMI Brokers LTD JP Markets SA on behalf of Customer. Such sale, purchase or cancellation maybe may be made at JMI Brokers LTD JP Markets SA’ discretion without advertising the same and without or notice to Customer or his personal representatives and without prior tender, demand for margin or payment, or call of any kind upon Customer. JMI Brokers LTD It is understood and agreed that JP Markets SA has no duty and is not required to liquidate positions in Customer’s account(s) and that the provisions of this paragraph are solely for the protection of JP Markets SA. The proceeds of such transactions, if any, are to be applied first to reduce any indebtedness owing by Customer to JP Markets SA and thereafter to Customer’s account. JP Markets SA may purchase the whole or any part there of thereof free from any right of red emptionredemption. It is understood that a prior demand or call or prior notice of the time and place of such sale or purchase shall not be a waiver of JMI Brokers LTD JP Markets SA’ right to sell or buy without demand or notice as here in herein provided. Subject to applicable laws and rules, and in order to prevent non-permitted trading in debit/deficit accounts, profits on any trades executed without JMI Brokers LTD’s JP Markets SA’ express permission, for a Customer account that is debit/deficit at the time the order is placed ,placed, shall before JMI Brokers LTD be for JP Markets SA’ account if JMI Brokers LTD JP Markets SA in its discretion so elects. Losses on any such trades shall be jointly and severally borne by the Introducing Broker, if any, and the Customer. Customer shall remain liable for and pay JMIBrokers LTD JP Markets SA the amount of any deficiency in any account of Customer with JMI Brokers LTD JP Markets SA resulting from any transaction described above. Our determination of the current market value and the amount of additional and/or variation margin shall be conclusive and shall not be challenged by the Customer.