Common use of Losses Arising Out of Closing Out Clause in Contracts

Losses Arising Out of Closing Out. I/We shall be liable for all losses arising out of the closing out of my/our open positions by you as aforesaid and shall indemnify you for all claims, demands, actions proceedings, damages, losses, costs and expenses (including legal cost) suffered or incurred by you arising out of my/our failure to meet our Margin calls pursuant to these Additional Terms.