A Trading Member may, without notice to the borrower, realise the collateral and apply the proceeds to buy back Specified Products to close off the loan position if:

(1) the borrower does not provide the additional collateral by the close of the second Market Day from the date of notice; or
(2) the collateral value falls below 100% of the market value of the loaned Specified Products, whichever occurs earlier.

Amended on 8 October 20188 October 2018.