Common use of Exercise of Security Clause in Contracts

Exercise of Security. If Client fails to pay any amount due to Global Prime in accordance with the requirements of this agreement, Global Prime may, without needing to give prior notice, exercise its rights under the Security including requiring delivery to it of all or any of the Custodial Assets and the sale of those Custodial Assets. For clarity, Global Prime need not exercise its rights in relation to Custodial Assets prior to calculating the net amount payable on termination nor determining that Client owes Global Prime the net amount payable.