12. Events of Default
12.1 The following shall constitute an Event of Default:
12.1.1 if you are an individual, your death or your incapacity;
12.1.2 the initiation of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver (if you are a company), or (in both cases) if you make an arrangement with your creditors or any other similar or analogous procedure is commenced in respect of you;
12.1.3 you fail to make any payment due to us under the Agreement;
12.1.4 any representation or warranty made by you in the Agreement is or becomes untrue;
12.1.5 taking advantage of what we consider to be abnormal trading conditions;
12.1.6 the violation of any Law;
12.1.7 you fail to perform any of your obligations under the Agreement; or
12.1.8 any other circumstance where we reasonably believe that it is necessary or desirable to take any of the actions to protect ourselves, our Associated Companies or any of our other clients including any act or omission which we deem to be:
(a) negligence
(b) mistake
(c) wilful misconduct including:
(i) money laundering
(ii) manipulating our Prices, execution process or other practices
1.2 If an Event of Default occurs in relation to your Account, we may, at our absolute discretion, with or without Notice and at any time, take one or more of the following steps:
1.2.1 cancel any Instructions;
1.2.2 void a Contract as if it had never taken place;
1.2.3 refuse to accept or execute any Instructions;
1.2.4 suspend your Account;
1.2.5 open one or more new Contracts on your Account
1.2.6 call on any guarantee in respect of your obligations;
1.2.7 terminate the Agreement, close your Account and refuse to accept or execute any further Instructions; or
1.2.8 take all such other actions as we consider to be reasonable in the circumstances to protect us, our Associated Companies or any of our other clients.