Common use of Position Limits Clause in Contracts

Position Limits. Customer shall not, either alone or in combination with others, violate any position or exercise limit established by or under Applicable Law. If Customer intends at any time to exceed such position limits, Customer shall cause to be filed an application with the CFTC or the relevant contract market requesting authorization for Customer to exceed such position limits and shall provide UBS-S LLC with a copy of such application and such other information as UBS-S LLC may reasonably request with respect to such application. Customer shall immediately (and no later than within one business day) notify UBS-S LLC of any positions for which Customer is required to file reports under Applicable Law, including any large trader reports filed with the CFTC or any contract market. Customer shall indemnify and hold UBS-S LLC harmless from and against all claims, damages, fines or assessments of any kind whatsoever, including reasonable attorneys' fees in connection with the defense thereof, made and incurred in connection with any violation by Customer of its obligations under this Section 5(b).

Position Limits. Customer shall not, either alone or in combination with others, violate any position or exercise limit established by or under Applicable Law. If Customer intends at any time to exceed such position limits, Customer shall cause to be filed an application with the CFTC or the relevant contract market requesting authorization for Customer to exceed such position limits and shall provide UBS-S LLC with a copy of such application and such other information as UBS-S LLC may reasonably request with respect to such application. Customer shall immediately (and no later than within one business day) notify UBS-S LLC of any positions for which Customer is required to file reports under Applicable Law, including any large trader reports filed with the CFTC or any contract market. Customer shall indemnify and hold UBS-S LLC harmless from and against all claims, damages, fines or assessments of any kind whatsoever, including reasonable attorneys' ’ fees in connection with the defense thereof, made and incurred in connection with any violation by Customer of its obligations under this Section 5(b).