Common use of Account Operation Clause in Contracts

Account Operation. Where a Client has more than one Account open with MTC, each account will be treated as an entirely separate Account unless MTC are advised in writing by the Client (and MTC, in its sole discretion agree) to treat the Client’s Accounts as one Account. Where Accounts are treated separately, this means that any credit, (ie monies deposited as margin) will not, except where MTC exercises its rights of these General Terms and Conditions, discharge any of the Client’s liabilities in respect of another Account. Where Accounts are treated as one Account, all references to Account in this Agreement will be references to the aggregated Accounts.