CLOSURE OF POSITIONS Clause Samples

The "Closure of Positions" clause defines the process by which open financial or contractual positions between parties are terminated or settled. Typically, this clause outlines the circumstances under which positions may be closed, such as upon default, expiration, or mutual agreement, and details the method for calculating any outstanding obligations or payments. By establishing clear procedures for closing positions, this clause helps prevent disputes, ensures timely settlement, and mitigates financial risk for both parties.
CLOSURE OF POSITIONS. ‌ 19.1. Without prejudice to any other provisions herein, the Client understands, and agrees herewith that the Company reserves the right to close Client open positions automatically if their equity falls below 50% of the margin requirement, in compliance with European regulatory obligations. Such open positions are closed at the current market price. 19.2. The Company aims to notify the Client that they are on margin call before the Company starts automatically closing such open positions by sending a notification e-mail when the Client’s equity falls below 100%. However, as markets move fast, the Client understands and agrees that the Company may not be able to contact the Client on time and before their positions get closed.
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CLOSURE OF POSITIONS. 7.1. The Company has the right to close Client's open positions compulsorily without notice if the account current Margin Level is less than 100% of the margin necessary for maintaining open positions (Margin Call). 7.2. The Company is unconditionally obliged to start closing unprofitable transactions on condition that account Margin Level becomes lower than the margin necessary for maintaining open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”. 7.3. Account current state is monitored by the Server that generates an order to close a position compulsorily (Stop out) if the condition 7.2 is satisfied. Stop Out is performed at the market current price in the order that Clients' requests arrived. A compulsory closure of a position is attended by the corresponding commentary “stop out” in the Server’s log file. 7.4. In the presence of several open positions, the one with the biggest floating losses will be closed the first. 7.5. In exceptional cases the Company has the right to compensate for negative balance in the Client’s account using funds deposited in the Client’s another account. 7.6. The Client is obliged to personally monitor the state of his/her trading account and top it up at his/her discretion if necessary in order to avoid the closure of transactions following Margin Call and Stop Out. The Company is not liable for the closure of transactions following Stop Out if the Client is not able to make a deposit in his/her account timely for any reason. If automatic deposit of an account is found impossible, the Client can contact the Company’s employee.
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CLOSURE OF POSITIONS. 20.1. The Company aims to notify the Client that they are on margin call before the Company starts automatically closing such open positions by sending a notification e-mail when the Client’s equity falls below 100%. However, as markets move fast, the Client understands and agrees that the Company may not be able to contact the Client on time and before their positions get closed.
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CLOSURE OF POSITIONS. 13.1 Without prejudice to any other provisions herein, the Client understands, and agrees herewith that the Company reserves the right to close open positions automatically if their equity falls below 50% of the margin requirement. Such open positions are closed at the current market price. 13.2 The company aims to notify the Client that they are on margin call before the Company stars automatically closing such open positions by sending a notification email when the Client’s equity falls below 100%. However, as markets move fast, the Client understands and agrees that the Company may not be able to contact the client on time and before their positions get closed.
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CLOSURE OF POSITIONS. 1Without prejudice to any other provisions herein, the Client understands, and agrees herewith that the Company reserves the right to close Client open positions automatically if their equity falls below 50% of the margin requirement (Stop Out Level of 50%), in compliance with European regulatory obligations. Such open positions are closed at the current market price. The Company has also the right to refuse new Orders.
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CLOSURE OF POSITIONS. Operating Methods Article 42
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CLOSURE OF POSITIONS. ‌ 22.1. Without prejudice to any other provisions herein, the Client understands, and agrees herewith that the Company reserves the right to close Client open positions automatically if their equity falls below 50% of the margin requirement (Stop Out Level of 50%), in compliance with European regulatory obligations. Such open positions are closed at the current market price. The Company has also the right to refuse new Orders. 22.2. The Company aims to notify the Client that they are on margin call before the Company starts automatically closing such open positions by sending a notification e-mail when the Client’s equity falls below 100%. However, as markets move fast, the Client understands and agrees that the Company may not be able to contact the Client on time and before their positions get closed. If the value of Client’s equity falls below 100% of the Used Margin, then the trading account is on Margin Call. When Client’s trading account is on Margin Call, that means that they will be able to maintain the existing positions, but they will not be able to open new ones. If the value of Client’s Equity falls below 100% of the Used Margin, we will send them an email and/or any other notification. Customers are advised to log into their trading platform on a regular basis to ensure they monitor their margin level of their positions. Please note that this is an additional service from us to the clients and does not create any obligation or responsibility on us, for either the performance of client’s trading account, or for notifying client of the current margin level and the action that client may wish to take. Please monitor the performance of your positions on an ongoing basis. Once an account reaches a Margin Call warning level, it is possible that the margin level could increase above 100%. Should this happen the Margin Call process will reset. If the Margin Call Warning levels are reached again, the Margin Call process will start again.
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CLOSURE OF POSITIONS. 9.1 Without prejudice to BOCOM' rights under Clause 8, BOCOM may, without the Client's consent, close all or any of the Client's positions if BOCOM is of the opinion that there has been a change or development involving a prospective change: 9.1.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of BOCOM likely to result in a material or adverse fluctuation in the stock market or stock options market in Hong Kong and/or overseas; or 9.1.2 which is or may be of a material adverse nature affecting the condition or operations of the Client.
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CLOSURE OF POSITIONS. Without prejudice to the Company's rights under Clause [7] above, the Company may, without the Client's consent, close all or any of the Client's positions if the Company is of the opinion that there has been a change or development involving a prospective change: (a) in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of the Company likely to result in a material or adverse fluctuation in the stock market or stock options market in Hong Kong and/or overseas; or (b) which is or may be of a material adverse nature affecting the condition or operations of the Client.
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Related to CLOSURE OF POSITIONS

  • Filling of Positions ‌ 1. When a position is open in any classification in the Maintenance Department, except for Supervisor, a notice shall be posted on all department bulletin boards for not less than five (5) days before the position is filled, and any employee in the Maintenance Department may make application to their Supervisor in writing before the notice expires. The position will be filledaccording to established seniority in the classification called for, qualifications considered. Employees trying out in a new position shall have a reasonable period to qualify; this to be determined by the Director of Maintenance and/or his/herdesignees, and the Officers of the Union and/or their designees. 2. When the hours of a new position posted and bid on are afterwards changed, all positions below the holder of such position shall be reopened for bid according to seniority as defined in Paragraph 1. It is further agreed that for the purposes of vacation relief, so the maximum number of vacations possible to grant may be had during the period of school vacations and for seasonal hunting periods, this paragraph shall be inoperative. It is further understood and agreed that in arranging vacation relief, regular assigned days off will be maintained. A new sign-up shall take place at the request of the representative of the Union. 3. Employees filling the position of one receiving a higher rate of pay shall receive the higher rate providing they are capable of performing the work of the higher classification, and the change is made for a period of three (3) days or more. They shall then receive the higher rate when filling this position in the future. Seniority in classification shall not begin until the employee has bid for and qualified in a regularly posted position in that classification. However, employees hired directly from the outside into 4. It is understood and agreed that in filling vacancies that are not filled by promotion within the Department, preference will be given to employees or laid off employees of the Facilities Maintenance or Stores Departments. Such vacancies will be posted on all department bulletin boards for five (5) days. If unable to fill the vacancy, it may be filled according to seniority within the District. Following selection, District employees shall receive preference for all bidding purposes over employees hired from the outside.

  • New Positions The Board, in consultation with the Association, shall prepare a new job description whenever a new position of special responsibility is created or whenever the duties of any such position are changed or increased. When such a position is created or changed, the allowance shall be subject to negotiations between the Board and the Association.

  • LABOUR MANAGEMENT RELATIONS 9:01 No employee or group of employees shall undertake to represent the Union at meetings with the Employer without the proper authorization of the Union. The Employer shall not meet with any employee or group of employees undertaking to represent the Union without the proper authorization of the Union. In representing an employee or group of employees, a representative of the Union shall be the spokesperson. In order that this may be carried out, the Union shall supply the Employer with the names of its Officers and representatives. Likewise the Employer shall supply the Union with a list of its Designated Authorities and Chairs where the Chair is not the Designated Authority. Neither the Union nor the Employer shall be required to recognize such representatives until written notification has been received. 9:02 The Union and the Employer acknowledge the mutual benefit of joint consultation and agree, therefore, that there shall be a joint labour/management committee consisting of three (3) representatives from and selected by each party. There shall be one (1) regularly scheduled Labour/Management Committee meeting in each four (4) month term or semester (January to April, May to August, September to December). In addition, meetings shall be arranged at the request of either party through the Labour Relations Department, by submitting in writing the topics to be discussed. Such meetings shall take place, at a mutually-agreeable time, within ten (10) working days of the receipt of the request for the meeting. Meetings shall not be used to discuss matters which are the subject of a grievance nor to discuss any matters which are, at the time, the subject of collective bargaining. The committee shall function in an advisory capacity only, making recommendations to the Union and/or the Employer with respect to its discussions and conclusions, and shall not have the power to add to or modify the terms of this agreement. A representative of each party shall be designated Co-Chairperson, and the two persons so designated shall alternate in presiding over meetings.