Payments for Difference Sample Clauses
Payments for Difference. (a) You agree and acknowledge that:
(i) Following Business Close on each Business Day during the term of an open CFD, Mitrade will determine at Business Close the Contract Value of the CFD.
(ii) If the Contract Value determined is higher than the Contract Value determined in respect of the Business Close on the previous Business Day, then the Short Party must pay to the Long Party the difference.
(iii) If the Contract Value determined is lower than the Contract Value determined in respect of the Business Close on the previous Business Day, then the Long Party must pay to the Short Party the difference.
(iv) The Contract Value at Business Close on the Business Day on which the CFD is entered into is determined by Mitrade in its discretion.
(v) The Contract Value determined under clause 17.1(a) will ordinarily be the closing price of the Underlying Instrument quoted by the Relevant Exchange. Where Mitrade determines that the Contract Value of a CFD at Business Close cannot be determined on that basis for any reason, the Contract Value will be the value determined by Mitrade in its sole discretion.
(vi) Without limiting sub-clause(v), if at any time trading on a Relevant Exchange is suspended or halted in any Underlying Instrument, Mitrade will, in determining the Contract Value, at its discretion have regard to the last traded price before the time of suspension or halt.
Payments for Difference. (a) You agree and acknowledge that:
(i) Following Business Close on each Business Day during the term of an open OTC Derivative, Mitrade will determine at Business Close the Contract Value of the OTC Derivative.
(ii) If the Contract Value determined is higher than the Contract Value determined in respect of the Business Close on the previous Business Day, then the Short Party must pay to the Long Party the difference.
(iii) If the Contract Value determined is lower than the Contract Value determined in respect of the Business Close on the previous Business Day, then the Long Party must pay to the Short Party the difference.
(iv) The Contract Value at Business Close on the Business Day on which the OTC Derivative is entered into is determined by Mitrade in its discretion.
(v) The Contract Value determined under clause 17.1(a) will ordinarily be the closing price of the Underlying Instrument quoted by the Relevant Exchange. Where Mitrade determines that the Contract Value of an OTC Derivative at Business Close cannot be determined on that basis for any reason, the Contract Value will be the value determined by Mitrade in its sole discretion.
(vi) Without limiting sub-clause(v), if at any time trading on a Relevant Exchange is suspended or halted in any Underlying Instrument, Mitrade will, in determining the Contract Value, at its discretion have regard to the last traded price before the time of suspension or halt.
Payments for Difference. (a) You agree and acknowledge that:
(i) Following Business Close on each Business Day during the term of an open CFD, UDMarkets will determine at Business Close the Contract Value of the CFD.