Common use of Client Relationship Clause in Contracts

Client Relationship. 4.1 Each party acknowledges and agrees that each Client is a client of both the Licensee and of TPP. TPP may contact the Client so as to take instructions directly from the Client pursuant to any aspect of the Broker/ Client Relationship or where required by law or regulation. 4.2 Where TPP proposes to exercise rights (“Rights”) against the Client that are given to TPP pursuant to the Terms and Conditions and at law, TPP will use its best endeavours to contact the Licensee so as to seek its views as to the proposed course of action but if TPP determines that it is reasonably necessary to do so, TPP may exercise its Rights without having contacted the Licensee. By way of example and without limitation, Rights include the right to sell Financial Products purchased on behalf of a Client where the Client fails to settle a Buy Trade and the right to buy back Financial Products where the Client fails to settle with respect to a Sell Trade.