Common use of Member Default Clause in Contracts

Member Default. In the event that: • You or any of your employees and/or associated persons breach or fail to timely perform any of your or their material obligations under this Agreement or the Rules, or otherwise in respect of any Contract; • You fail to deposit or maintain any required collateral or fail to make any other payment required with respect to any Contract; • Any representation made by you hereunder including all documents incorporated by reference is not or ceases to be accurate and complete in any material respect; • A case in bankruptcy is commenced or a proceeding under any insolvency or other law for the protection of creditors or for the appointment of a receiver, trustee or similar officer is filed by or against you; • Any warrant or order of attachment is issued against any of your accounts or a judgment is levied against any such account; • You fail to provide adequate assurances acceptable to Nadex after Nadex has requested that such assurances be provided within a reasonable period of time under the circumstances, whenever Nadex considers such assurances necessary for the protection of Nadex, its Members and/or the Market; then Nadex shall have the right, without limitation, to: • Close out any or all open Contracts; • Cancel any of your or your customers’ outstanding orders; • Treat any and all of your obligations to Nadex as immediately due and owing; • Set-off any Nadex obligation to you against any of your obligations to Nadex; • Require that you liquidate any collateral held in your account on your behalf to satisfy your obligations to Nadex; • Terminate any or all of Nadex’s obligations for future performance with respect to your trading account; • Terminate your access to Nadex; and/or • Proceed with any other appropriate action in accordance with the Rules. Nadex shall make reasonable efforts to inform you that it will take or has taken any of the aforementioned actions.

Member Default. In the event that: • You or You, any of your employees and/or associated persons Authorized Traders or your Authorized Clearing Member breach or fail to timely perform any of your or their material obligations under this Agreement or the Rules, or otherwise in respect of any Contract; • You You, or your Authorized Clearing Member on your behalf, fail to deposit or maintain any required collateral margin or fail to make any other payment required with in respect to of any Contract; • Any representation you made by you hereunder including all documents incorporated by reference is not or ceases to be accurate and complete in any material respect; • A case in bankruptcy is commenced or a proceeding under any insolvency or other law for the protection of creditors or of for the appointment of a receiver, trustee or similar officer is filed by or against youyou or your Authorized Clearing Member; • Any warrant or order of attachment is issued against any of your accounts with your Authorized Clearing Member or a judgment is levied against any such account; • You fail The Exchange, after notifying you and offering you the opportunity to provide adequate assurances acceptable to Nadex after Nadex has requested that such assurances be provided the Exchange within a reasonable period of time under the circumstances, whenever Nadex reasonably considers such assurances it necessary for its protection and for the protection of Nadex, its Members and/or the Marketother Members; then Nadex the Exchange shall have the right, without limitation, limitation to: • Close out any or all of your open Contracts; • Cancel any of your or your customers’ Authorized Traders outstanding orders; • Treat any and all of your obligations to Nadex the Exchange as immediately due and owingpayable; • Set-off any Nadex obligation of the Exchange to you against any of your obligations to Nadexthe Exchange; • Require that you Request your Authorized Clearing Member to liquidate any collateral held in your account by such Authorized Clearing Member on your behalf to satisfy your obligations to Nadexthe Exchange; • Terminate any or all of Nadexthe Exchange’s obligations for future performance with respect to your trading account; • Terminate your access to Nadexthe Exchange; and/or • Proceed with any other appropriate action in accordance with under the Rules. Nadex The Exchange shall make reasonable efforts appropriate to inform the nature of the circumstances to notify you that it will take or has taken any of the aforementioned above actions.

Member Default. In the event that: • You or You, any of your employees and/or associated persons Authorized Traders or your Authorized Clearing Member breach or fail to timely perform any of your or their material obligations under this Agreement or the Rules, or otherwise in respect of any Contractfutures contract; • You You, or your Authorized Clearing Member on your behalf, fail to deposit or maintain any required collateral margin or fail to make any other payment required with in respect to of any Contract; • Any representation you made by you hereunder including all documents incorporated by reference is not or ceases to be accurate and complete in any material respect; • A case in bankruptcy is commenced or a proceeding under any insolvency or other law for the protection of creditors or of for the appointment of a receiver, trustee or similar officer is filed by or against youyou or your Authorized Clearing Member; • Any warrant or order of attachment is issued against any of your accounts with your Authorized Clearing Member or a judgment is levied against any such account; • You fail The Exchange, after notifying you and offering you the opportunity to provide adequate assurances acceptable to Nadex after Nadex has requested that such assurances be provided the Exchange within a reasonable period of time under the circumstances, whenever Nadex reasonably considers such assurances it necessary for its protection and for the protection of Nadex, its Members and/or the Marketother Members; then Nadex the Exchange shall have the right, without limitation, limitation to: • Close out any or all of your open Contracts; • Cancel any of your or your customers’ Authorized Traders outstanding orders; • Treat any and all of your obligations to Nadex the Exchange as immediately due and owingpayable; • Set-off any Nadex obligation of the Exchange to you against any of your obligations to Nadexthe Exchange; • Require that you Request your Authorized Clearing Member to liquidate any collateral held in your account by such Authorized Clearing Member on your behalf to satisfy your obligations to Nadexthe Exchange; • Terminate any or all of Nadexthe Exchange’s obligations for future performance with respect to your trading account; • Terminate your access to Nadexthe Exchange; and/or • Proceed with any other appropriate action in accordance with under the Rules. Nadex shall make reasonable efforts to inform you that it will take or has taken any of the aforementioned actions.

Member Default. In the event that: •  You or any of your employees and/or associated persons breach or fail to timely perform any of your or their material obligations under this Agreement or the Rules, or otherwise in respect of any Contract; •  You fail to deposit or maintain any required collateral or fail to make any other payment required with respect to any Contract; •  Any representation made by you hereunder including all documents incorporated by reference is not or ceases to be accurate and complete in any material respect; •  A case in bankruptcy is commenced or a proceeding under any insolvency or other law for the protection of creditors or for the appointment of a receiver, trustee or similar officer is filed by or against you; •  Any warrant or order of attachment is issued against any of your accounts or a judgment is levied against any such account; •  You fail to provide adequate assurances acceptable to Nadex after Nadex has requested that such assurances be provided within a reasonable period of time under the circumstances, whenever Nadex considers such assurances necessary for the protection of Nadex, its Members and/or the Market; then Nadex shall have the right, without limitation, to: •  Close out any or all open Contracts; •  Cancel any of your or your customers’ outstanding orders; •  Treat any and all of your obligations to Nadex as immediately due and owing; •  Set-off any Nadex obligation to you against any of your obligations to Nadex; •  Require that you liquidate any collateral held in your account on your behalf to satisfy your obligations to Nadex; •  Terminate any or all of Nadex’s obligations for future performance with respect to your trading account; •  Terminate your access to Nadex; and/or •  Proceed with any other appropriate action in accordance with the Rules. Nadex shall make reasonable efforts to inform you that it will take or has taken any of the aforementioned actions.