Common use of PAYMENT OF LOSS Clause in Contracts

PAYMENT OF LOSS. You acknowledge that the amount of any loss realised on the Closing Out of a Transaction is a debt payable by you and agree that we may immediately deduct the total amount of any loss (together with any expenses, premiums, commissions or other fees) from any funds we hold in relation to any Transaction whether in the form of an Advance Payment or otherwise. If the amount we are seeking to recover exceeds the amount of any Advance Payment or other funds held by us, you agree to pay the balance within 7 days of being notified by us of the total amount due.

PAYMENT OF LOSS. You acknowledge that the amount of any loss realised on incurred by us as a result of the Closing Out Termination of a Transaction is a debt payable by you and you. You agree that we may immediately deduct the total amount of any loss (together with any expenses, premiums, commissions or other fees) from any funds we hold in relation refund owed to you upon Termination of a Transaction (for example, the amount of any Transaction whether in the form of an Advance Payment or otherwisePayment). If the amount we are seeking to recover exceeds the amount of any Advance Payment or other funds held by usrefund owed to you, you agree to pay the balance within 7 days of being notified by us of the total amount due.