Common use of POWER TO SELL OR CLOSE OUT Clause in Contracts

POWER TO SELL OR CLOSE OUT. 15.1 If, at a time monies become due or will or may become due in the future, as a result of a commitment entered into by the Bank on behalf of the Client and the Bank is of the opinion that the Client has not performed or may not be able or willing in the future to perform all or any of its obligations to the Bank, then the Bank may at its discretion and without liability to the Client exercise the following powers: