Common use of Transactions with no Expiry Date Clause in Contracts

Transactions with no Expiry Date. 10.1. Subject to any other provision in this Agreement and any requirement, which we may specify in relation to Linked Transactions, you may Close Out an Open Position or any part of such Open Position at any time. 10.2. When you Close Out an Open Position, the Closing Level will be, if you are Closing Out an Undated Buy Transaction, the lower figure then quoted by us and, if you are Closing Out an Undated Sell Transaction, the higher figure then quoted by us. 10.3. At any time, you may give FinPros notice of your intention to Close Out any Transaction (whether in whole or part) by specifying the Underlying Instrument and the quantity that you wish to close. This must be done by you placing an Order, which, if accepted, would Close Out the Undated Transaction that you wish to close. 10.4. Upon receipt of notice of intent to Close Out an Undated Transaction (by way of receiving your Order), FinPros will use reasonable endeavors to provide the Closing Level (by way of indicating prices to Close Out your Open Positions) and notify you of that quote (by the Electronic Trading Service or otherwise). It is your obligation to notify FinPros as soon as possible, as to whether you are willing to accept the Closing Level. If you accept the Clos- ing Level quoted by FinPros, the Undated Transaction, or relevant portion of the Undated Transaction, will be Closed Out by issuing you with a Contract which is equal but opposite to the open Contract, or relevant portion of the Contract, to be Closed Out. 10.5. If the Underlying Instrument for the Contract is on terms that provide for its redemption, exchange or termination and you do not give notice to FinPros of your intention to Close out the Contract or to roll it over on terms and by the time acceptable to FinPros (whether or not you have any prior notice of that), you will be deemed to have given notice to FinPros to Close Out that Contract at the Closing Level reasonably determined by FinPros. In this case, FinPros will Close Out the Contract as at the time it determines. 10.6. At the Close Out, if there is a difference between the Closing Value and the Contract Value of the Contract it must be accounted for in the following way: a) if the Closing Value is greater than the Contract Value, the Short Party must pay to the Long Party the difference; and b) if the Closing Value is less than the Contract Value, the Long Party must pay to the Short Party the difference.

Transactions with no Expiry Date. 10.1. Subject to any other provision in this Agreement and any requirement, which we may specify in relation to Linked Transactions, you may Close Out an Open Position or any part of such Open Position at any time. 10.2. When you Close Out an Open Position, the Closing Level will be, if you are Closing Clos- ing Out an Undated Buy Transaction, the lower figure then quoted by us and, if you are Closing Out an Undated Sell Transaction, the higher figure then quoted by us. 10.3. At any time, you may give FinPros notice of your intention to Close Out any Transaction (whether in whole or part) by specifying the Underlying Instrument and the quantity that you wish to close. This must be done by you placing an Order, which, if accepted, would Close Out the Undated Transaction that you wish to close. 10.4. Upon receipt of notice of intent to Close Out an Undated Transaction (by way of receiving your Order), FinPros will use reasonable endeavors to provide the Closing Level (by way of indicating prices to Close Out your Open Positions) and notify you of that quote (by the Electronic Trading Service or otherwise). It is your obligation to notify FinPros as soon as possible, as to whether you are willing to accept the Closing Level. If you accept the Clos- ing Closing Level quoted by FinPros, the Undated Transaction, or relevant rel- evant portion of the Undated TransactionTransac- tion, will be Closed Out by issuing you with a Contract which is equal but opposite op- posite to the open Contract, or relevant portion of the Contract, to be Closed Out. 10.5. If the Underlying Instrument for the Contract is on terms that provide for its redemption, exchange or termination and you do not give notice to FinPros of your intention to Close out the Contract or to roll it over on terms and by the time acceptable to FinPros (whether or not you have any prior notice of that), you will be deemed to have given notice to FinPros to Close Out that Contract at the Closing Level reasonably determined deter- mined by FinPros. In this case, FinPros will Close Out the Contract as at the time it determines. 10.6. At the Close Out, if there is a difference between the Closing Value and the Contract Value of the Contract it must be accounted for in the following way: a) if the Closing Value is greater than the Contract Value, the Short Party must pay to the Long Party the difference; and b) if the Closing Value is less than the Contract Value, the Long Party must pay to the Short Party the difference.