Mandatory position closure Clause Samples

The Mandatory Position Closure clause requires that certain financial or trading positions must be closed under specified circumstances. Typically, this clause is triggered when regulatory requirements, risk limits, or predefined thresholds are breached, obligating the party to liquidate or unwind the relevant positions immediately. By enforcing the closure of positions in these situations, the clause helps manage risk exposure and ensures compliance with legal or contractual obligations, thereby protecting both parties from excessive losses or regulatory penalties.
Mandatory position closure. 3.6.1. If Margin level is lower than 40% (lower than 100% for Cryptocurrencies) on the Client account, margin call occurs. The Company is entitled but not liable to close Client positions. Decision to close positions is made by the server. 3.6.2. The Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is less than or equal to 20% (80% for Cryptocurrencies) of the necessary margin for maintaining open positions. 3.6.3. The current account balance is controlled by the server, which in the event of execution of P. 3.6.2. of the present Agreement generates an order to stop out. Stop out is executed at a current market quote on a first -come basis with Client orders. Mandatory position closure is noted in the log-file of the server with a notice “stop out”. 3.6.4. In the event of executing conditions of P. 3.6.2. of the present Agreement shall the Client have several open positions, the first position closed is the one with biggest floating loss. 3.6.5. When after a mandatory position closure the Client, account has a negative balance, compensation is added to the account, which sets the account to zero. However in special cases (when the Company considers Client’s actions as intentional) the Company reserves the right to claim a debt payment from the Client. 3.6.6. In case the Company has reasons to believe that a Client operates two or more accounts under different registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend or during the period between trading sessions), FBS reserves the right to deduct the losses exceeding the balance of one account from the funds of another account belonging to a Client. 3.6.7. In case Balance fixed occurs on a client’s account, the amount of funds compensated by the company will be deducted from the total sum of the Cashback commission to be paid for the current day.
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Mandatory position closure. 3.6.1. If Margin level is lower than 40% on the Client account, margin call occurs. The Company is entitled but not liable to close Client positions. Decision to close positions is made by the server. 3.6.2. The Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is less than or equal to 20% of the necessary margin for maintaining open positions. 3.6.3. The current account balance is controlled by the server, which in the event of execution of P. 3.6.2. of the present Agreement generates an order to stop out. Stop out is executed at a current market quote on a first -come basis with Client orders. Mandatory position closure is noted in the log-file of the server with a notice “stop out”. 3.6.4. In the event of executing conditions of P. 3.6.2. of the present Agreement shall the Client have several open positions, the first position closed is the one with biggest floating loss. 3.6.5. When after a mandatory position closure the Client, account has a negative balance, compensation is added to the account, which sets the account to zero. However in special cases (when the Company considers Client’s actions as intentional) the Company reserves the right to claim a debt payment from the Client. 3.6.6. In case the Company has reasons to believe that a Client operates two or more accounts under different registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend or during the period between trading sessions), FBS reserves the right to deduct the losses exceeding the balance of one account from the funds of another account belonging to a Client. 3.6.7. In case Balance fixed occurs on a client’s account, the amount of funds compensated by the company will be deducted from the total sum of the Cashback commission to be paid for the current day.
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Mandatory position closure. 3.6.1. If Margin level is lower than 40% on the Client account, margin call occurs. The Company is entitled but not liable to close Client positions. Decisions to close positions are made by the server. 3.6.2. The Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is less than or equal to 20% of the necessary margin for maintaining open positions. 3.6.3. The current account balance is controlled by the server, which in the event of execution of P.
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Mandatory position closure. 8.2.1 If the margin level of the trading account falls below a certain percentage, described in the specification of the trading account on the Company's website, the Client receives a warning from the trading platform (Margin call). In the event that the Client did not ensure the maintenance of open positions by depositing funds, the Company has the right to close the Client's open positions (Stop out). Closing is executed at the current market quote. If the Client has several open positions, the position with the largest floating loss will be closed first. 8.2.2 In the event that Stop Out results in a negative account balance, this does not entail any repayment of the debt by the Client and cannot be considered as such. The company compensates the account balance to zero.
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Mandatory position closure. 3.6.1. If the Margin level is lower than 40% (lower than 100% for crypto-based CFD or lower than 30% in Pro accounts) in a client’s account, a margin call occurs. The Company is entitled but not liable to close Client positions. The decision to close positions is made by the server. 3.6.2. The Company is entitled to mandatorily close open Client positions without prior notification if a Margin level is less than or equal to 20% (80% for crypto-based CFD instruments) of the margin necessary to maintain open positions. 3.6.3. The current account balance is controlled by the server, which in the event of execution of
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Mandatory position closure. If Margin level is lower than 40% on the Client account, margin call occurs. The Company is entitled but not liable to close Client positions. Decision to close positions is made by the server. The Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is less than or equal to 20% of the necessary margin for maintaining open positions. The current account balance is controlled by the server of the present Agreement generates an order to stop out. Stop out is executed at a current market quote on a first -come basis with Client orders. Mandatory position closure is noted in the log-file of the server with a notice “stop out”. In the event of executing conditions of the present Agreement shall the Client have several open positions, the first position closed is the one with biggest floating loss. When after a mandatory position closure the Client, account has a negative balance,compensation is added to the account, which sets the account to zero. However in special cases(when the Company considers Client’s actions as intentional) the Company reserves the right to claim a debt payment from the Client. In case the Company has reasons to believe that a Client operates two or more accounts under different registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend or during the period between trading sessions), Global FT Market reserves the right to deduct the losses exceeding the balance of one account from the funds of another account belonging to a Client. In case Balance fixed occurs on a client’s account, the amount of funds compensated by the company will be deducted from the total sum of the Cashback commission to be paid for the current day.
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Related to Mandatory position closure

  • Consideration; Closing If the consideration proposed to be paid for the Transfer Stock is in property, services or other non-cash consideration, the fair market value of the consideration shall be as determined in good faith by the Board of Directors and as set forth in the Company Notice. If the Company or any Investor cannot for any reason pay for the Transfer Stock in the same form of non-cash consideration, the Company or such Investor may pay the cash value equivalent thereof, as determined in good faith by the Board of Directors and as set forth in the Company Notice. The closing of the purchase of Transfer Stock by the Company and the Investors shall take place, and all payments from the Company and the Investors shall have been delivered to the selling Key Holder, by the later of (i) the date specified in the Proposed Transfer Notice as the intended date of the Proposed Key Holder Transfer; and (ii) forty-five (45) days after delivery of the Proposed Transfer Notice.

  • Limited Condition Transactions (a) In connection with any action being taken in connection with a Limited Condition Transaction, for purposes of (i) determining compliance with any provision of this Agreement which requires the calculation of the First Lien Leverage Ratio, the Secured Leverage Ratio, the Total Leverage Ratio, the Interest Coverage Ratio or any other financial ratio; or (ii) testing availability under baskets set forth in this Agreement (including baskets measured as a percentage of Consolidated Total Assets or Consolidated EBITDA, if any), in each case, at the option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of determination of whether any such transaction is permitted hereunder shall be deemed to be the date (the “LCT Test Date”), (x) the definitive agreement for such Limited Condition Transaction is entered into (or, in respect of any transaction described in clause (ii) of the definition of “Limited Condition Transaction,” delivery of irrevocable notice, declaration of dividend or similar event), and not at the time of consummation of such Limited Condition Transaction or (y) solely in connection with an acquisition to which the United Kingdom City Code on Takeovers and Mergers applies (or similar law in another jurisdiction), the date on which a “Rule 2.7 announcement” of a firm intention to make an offer (or equivalent announcement in another jurisdiction) (a “Public Offer”) in respect of a target of such acquisition, and if, after giving pro forma effect to the Limited Condition Transaction and the other transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if they had occurred at the beginning of the most recent test period ending prior to the LCT Test Date, the Borrower could have taken such action on the relevant LCT Test Date in compliance with such ratio or basket, such ratio or basket shall be deemed to have been complied with. (b) For the avoidance of doubt, if the Borrower has made an LCT Election and any of the ratios or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio or basket, including due to fluctuations in Consolidated Total Assets or Consolidated EBITDA on a consolidated basis or the Person subject to such Limited Condition Transaction, at or prior to the consummation of the relevant transaction or action, such baskets or ratios will not be deemed to have been exceeded as a result of such fluctuations solely for purposes of determining whether the relevant transaction or action is permitted to be consummated or taken; provided that if such ratios or baskets improve as a result of such fluctuations, such improved ratios and/or baskets may be utilized. If the Borrower has made an LCT Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any ratio or basket availability with respect to the incurrence of Indebtedness or Liens, or the making of Restricted Payments, mergers, the conveyance, lease or other transfer of all or substantially all of the assets of the Borrower, the prepayment, redemption, purchase, defeasance or other satisfaction of Indebtedness, or the designation of an Unrestricted Subsidiary on or following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the definitive agreement for such Limited Condition Transaction is terminated or expires (or, if applicable, the irrevocable notice, declaration of dividend or similar event is terminated or expires or, as applicable, the offer in respect of a Public Offer for, such acquisition is terminated) without consummation of such Limited Condition Acquisition, any such ratio or basket shall be tested by calculating the availability under such ratio or basket on a Pro Forma Basis assuming such Limited Condition Transaction and other transactions in connection therewith have been consummated (including any incurrence of Indebtedness and any associated Lien and the use of proceeds thereof; provided that Consolidated Interest Expense for purposes of the Interest Coverage Ratio will be calculated using an assumed interest rate based on the indicative interest margin contained in any financing commitment documentation with respect to such Indebtedness or, if no such indicative interest margin exists, as reasonably determined by the Borrower in good faith). (c) In connection with any action being taken in connection with a Limited Condition Transaction, for purposes of determining compliance with any provision of this Agreement which requires that no Default, Event of Default or Specified Event of Default, as applicable, has occurred, is continuing or would result from any such action, as applicable, such condition shall, at the option of the Borrower, be deemed satisfied, so long as no Default, Event of Default or Specified Event of Default, as applicable, exists on the date the definitive agreements for such Limited Condition Transaction are entered into. For the avoidance of doubt, if the Borrower has exercised its option under this Section 1.10, and any Default, Event of Default or Specified Event of Default occurs following the date the definitive agreements for the applicable Limited Condition Transaction were entered into and prior to the consummation of such Limited Condition Transaction, any such Default, Event of Default or specified Event of Default shall be deemed to not have occurred or be continuing for purposes of determining whether any action being taken in connection with such Limited Condition Transaction is permitted hereunder.

  • Removal from any Boards and Positions Upon Executive’s termination of employment for any reason under this Agreement, Executive shall be deemed to resign (i) if a member, from the Board and board of directors of any Affiliate and any other board to which Executive has been appointed or nominated by or on behalf of the Employer, (ii) from each position with the Company or any Affiliate, including as an officer of the Company, the Bank, or any of their respective Affiliates and (iii) as a fiduciary of any employee benefit plan of the Employer.

  • Lane closure (i) The Contractor shall not close any lane of the Project Highway for undertaking maintenance works except with the prior written approval of the Authority’s Engineer. Such approval shall be sought by the Contractor through a written request to be made at least 10 (ten) days before the proposed closure of lane and shall be accompanied by particulars thereof. Within 5 (five) business days of receiving such request, the Authority’s Engineer shall grant permission with such modifications as it may deem necessary and a copy of such permission shall be sent to the Authority. (ii) Upon receiving the permission pursuant to Clause 14.5 (i), the Contractor shall be entitled to close the designated lane for the period specified therein, and for all lane closures extending a continuous period of 48 (forty-eight) hours, the Contractor shall, in the event of any delay in re-opening such lane, for every stretch of 250 (two hundred and fifty) metres, or part thereof, pay Damages to the Authority calculated at the rate of 0.1% (zero point one per cent) of the monthly maintenance payment for each day of delay until the lane has been re-opened for traffic. In the event of any delay in re-opening such lanes or in the event of emergency decommissioning and closure to traffic of the whole or any part of the Project Highway due to failure of the Contractor, the Contractor shall pay damages to the Authority at double the above rate, without prejudice the rights of the Authority under this Agreement including Termination thereof.

  • Limited Condition Transaction In connection with any action being taken in connection with a Limited Condition Transaction, for purposes of determining compliance with any provision of this Indenture which requires that no Default or Event of Default, as applicable, has occurred, is continuing or would result from any such action, as applicable, such condition shall, at the option of the Issuer, be deemed satisfied, so long as no Default or Event of Default, as applicable, exists on the date the definitive agreements or irrevocable notice, as applicable, for such Limited Condition Transaction are entered into or has been delivered, as applicable. For the avoidance of doubt, if the Issuer has exercised its option under the first sentence of this Section 4.27, and any Default or Event of Default occurs following the date the definitive agreements or irrevocable notice, as applicable, for the applicable Limited Condition Transaction were entered into or has been delivered, as applicable, and prior to the consummation of such Limited Condition Transaction, any such Default or Event of Default shall be deemed to not have occurred or be continuing for purposes of determining whether any action being taken in connection with such Limited Condition Transaction is permitted hereunder. In connection with any action being taken in connection with a Limited Condition Transaction for purposes of: (1) determining compliance with any provision of this Indenture which requires the calculation of the Consolidated Net Senior Secured Leverage Ratio, Consolidated Net Leverage Ratio or Guarantor Indebtedness Ratio; or (2) testing baskets set forth in this Indenture (including baskets measured as a percentage of L2QA Pro Forma EBITDA); in each case, at the option of the Issuer (the Issuer’s election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of determination of whether any such action is permitted hereunder, shall be deemed to be the date the definitive agreements or irrevocable notice, as applicable, for such Limited Condition Transaction are entered into or has been delivered, as applicable (the “LCT Test Date”). If, after giving pro forma effect to the Limited Condition Transaction and the other transactions to be entered into in connection therewith (including any Incurrence of Indebtedness and the use of proceeds thereof) as if they had occurred at the beginning of the most recent two consecutive fiscal quarters ending prior to the LCT Test Date for which consolidated financial statements of the Issuer are available, the Issuer could have taken such action on the relevant LCT Test Date in compliance with such ratio or basket, such ratio or basket shall be deemed to have been complied with. If the Issuer has made an LCT Election and any of the ratios or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio or basket, including due to fluctuations in L2QA Pro Forma EBITDA of the Issuer or the Person subject to such Limited Condition Transaction, at or prior to the consummation of the relevant transaction or action, such baskets or ratios will not be deemed to have been exceeded as a result of such fluctuations. If the Issuer has made an LCT Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any ratio or basket availability with respect to the Incurrence of Indebtedness or Liens, or the making of Asset Dispositions, mergers, the conveyance, lease or other transfer of all or substantially all of the assets of the Issuer or the designation of an Unrestricted Subsidiary or the making of Investments or Restricted Payments on or following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the definitive agreement or irrevocable notice, as applicable, for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any such ratio or basket shall be calculated on a pro forma basis assuming such Limited Condition Transaction and other transactions in connection therewith (including any Incurrence of Indebtedness and the use of proceeds thereof) have been consummated.