Common use of No Further Payments Clause in Contracts

No Further Payments. Upon the giving of a Close-out Notice under Clause 9.1 (Early Termination), or the occurrence of an Event of Default described in Clause 12.3 (Act of Insolvency): (i) no further payments under the Agreement in respect of any outstanding Transaction will be required to be made, but without prejudice to the other provisions of the Agreement; (ii) all outstanding Transactions (the "Full Terminated Transactions") will, to the extent possible, be terminated on the Full Termination Date in accordance with the Agreement; and (iii) all other amounts owing under the Agreement will be payable on the Full Termination Date.

Appears in 4 contracts

Samples: Client Agreement for Foreign Exchange and Bullion Trading, Client Agreement for Foreign Exchange and Bullion Trading, Client Agreement for Foreign Exchange and Bullion Trading

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No Further Payments. Upon the giving of a Close-out Notice under Clause 9.1 (Early Termination), or the occurrence of an Event of Default described in Clause 12.3 (Act of Insolvency): (i) no further payments under the Agreement in respect of any outstanding FX Transaction will be required to be made, but without prejudice to the other provisions of the Agreement; (ii) all outstanding FX Transactions (the "Full Terminated Transactions") will, to the extent possible, be terminated on the Full Termination Date in accordance with the Agreement; and (iii) all other amounts owing under the Agreement will be payable on the Full Termination Date.

Appears in 1 contract

Samples: Client Agreement for Foreign Exchange Trading

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