Common use of Liquidation of Collateral Clause in Contracts

Liquidation of Collateral. If the Firm liquidates collateral, it may choose between several items of collateral. When liquidating collateral and when selecting the collateral to be liquidated, the Firm shall take account of the legitimate concerns of the Client and any third-party collateral provider that has provided collateral for the Client’s liabilities. If the liquidation process is subject to value-added tax, the Firm will provide the Client with credit for the proceeds, which will be deemed an invoice for the delivery of the items serving as collateral and meets the requirements of value-added tax law.

Liquidation of Collateral. If the Firm liquidates collateral, it may choose between several items of collateral. When liquidating collateral and when selecting the collateral to be liquidated, the Firm shall take account of the legitimate concerns of the Client and any third-third- party collateral provider that has provided collateral for the Client’s liabilities. If the liquidation process is subject to value-value- added tax, the Firm will provide the Client with credit for the proceeds, which will be deemed an invoice for the delivery of the items serving as collateral and meets the requirements of value-added tax law.