Common use of FORCEMAJEURE Clause in Contracts

FORCEMAJEURE. 23.1 A force majeure event includes without limitation any natural, political, governmental, economic, social, technological acts that may be outside the control of the Company, which prevent the Company from maintaining an orderly operation of business. 23.2 The Company may, in its reasonable opinion, determine that a force majeure event occurred, in which case the Company will take all reasonable steps to inform the Customer. 23.3 If the Company determines that a force majeure event exists, without prejudice to any other rights of the Customer under the Service Agreement, the Company without prior written notice may: (a) Increase margin requirements; (b) Decrease leverages; (c) Request amendments to any closed positions; (d) Increase spreads; (e) Close out any open positions at such prices that the Company considers in good faith and appropriate; (f) Suspend or modify or freeze the provision of investment and/or ancillary services to the Customer; (g) Amend any or all of the content of the Service Agreement on the basis that it is impossible or impractical for the Company to comply with it. 23.4 Under the provisions of this Agreement, the Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under this Agreement where such failure, interruption or delay is due to a Force Majeure event.

FORCEMAJEURE. 23.1 27.1 A force majeure event includes without limitation any natural, political, governmental, economic, social, technological acts that may be outside the control of the Company, which prevent the Company from maintaining an orderly operation of business. 23.2 27.2 The Company may, in its reasonable opinion, determine that a force majeure event occurred, in which case the Company will take all reasonable steps to inform the Customer. 23.3 27.3 If the Company determines that a force majeure event exists, without prejudice to any other rights of the Customer under the Service Agreement, the Company without prior written notice may: (a) Increase margin requirements; (b) Decrease leverages; (c) Request amendments to any closed positions; (d) Increase spreads; (e) Close out any open positions at such prices that the Company considers in good faith and appropriate; (f) Suspend or modify or freeze the provision of investment and/or ancillary services to the Customer; (g) Amend any or all of the content of the Service Agreement on the basis that it is impossible or impractical for the Company to comply with it. 23.4 27.4 Under the provisions of this Agreement, the Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing its obligations under this Agreement where such failure, interruption or delay is due to a Force Majeure event.