Common use of Default Action Clause in Contracts

Default Action. Customer absolutely and unconditionally agrees that, after the occurrence of any Event of Default, AM UK and its Affiliates shall have the right, in their respective sole discretion, but not the obligation, to take any one or more of the following actions, by themselves or through AM AS or another AM UK Affiliate, at any time, without prior notice or demand to Customer: (1) to terminate these Terms of Securities Trading , any or all of AM UK`s and/or AM AS`s obligations to Customer for future performance thereunder, and/or Customer`s use of the facilities and services provided by or through AM UK or any of its Affiliates; (2) to liquidate, sell, or close-out any or any part of Customer`s Transactions or open positions or the cash, security or other property in any of Customer`s accounts, whether carried individually or jointly with others, at any time, in any such manner (including by the entry of offsetting transactions), and in any market as AM UK or its Affiliates deem necessary; (3) to hedge and/or offset such Transactions, open positions, cash, securities and other property in the cash or other market, including a related but separate market; (4) to cancel any open orders for the purchase of any Transactions; or (5) to borrow and/or buy any property required to make delivery against any sales, including short sales, effected for Customer.