ADVANCES AND INTEREST RATES. 19.1 The Client is required to settle each Order on the Value Date or on such date as VGP mayrequire settlement.
19.2 If VGP agrees to provide a Credit Limit, the Client undertakes to repay upon demand including interest at the rate of 3% per annum above the central bank target rate for the relevant underlying asset or assets to the OTC derivative contract, calculated on a daily basis from the date of such advance up to and including the date of repayment in full.
19.3 In addition to clause 19.2 above, interest at the said rate shall be chargeable on thefollowing items:
(a) any part of the Deposit or additional Deposit not paid or deposited in the form of cash; and.
(b) any amount due to VGP which remains outstanding.
19.4 Nothing in this clause 19 or other clauses in this Agreement shall be construed as binding VGP to make any advance to the Client as aforesaid nor shall it prejudice any of the rights and remedies VGP has against the Client or any other persons under this Agreement, the Orders or otherwise conferred by law, equity or usage.
19.5 VGP may vary such interest rates without notice when changes are to the Client’s advantage, or are due to external circumstances beyond VGP’s control. Such circumstances include:
(a) changes in the monetary or credit policies domestic or abroad that affect thegeneral interest level in a way that is of importance to VGP;
(b) other developments in the general interest level, including in the money and bond markets, in a way that is of importance to VGP; or
(c) changes in the relationship with our counterparties, which affect our cost structures.
19.6 VGP may vary such interest rates on providing one month’s Notice if:
(a) market conditions, including competitive behaviour, mean it is prudent for us to change its conditions; or
(b) for commercial reasons we wish to change our general cost and pricing structure; or
(c) significant particulars of a Client’s individual conditions have changed.
19.7 Unless otherwise agreed in writing, we are not liable to:
(a) pay interest to you on any Free Balance in any Account or on any other sum held by us; or
(b) account to you for any interest we receive on such sums or in connection with any Order.
ADVANCES AND INTEREST RATES. 19.1 The Client is required to settle each Order on the Value Date or on such date as Equity Advisers may require settlement.
19.2 If Equity Advisers agrees to provide a Credit Limit, the Client undertakes to repay upon demand includinginterest at the rate of 3% per annum above the central bank target rate for the relevant underlying asset or assets to the OTC derivative contract, calculated on a daily basis from the date of such advance up to and including the date of repayment in full.
19.3 In addition to clause 19.2 above, interest at the said rate shall be chargeable on the following items:
(a) any part of the Deposit or additional Deposit not paid or deposited in the form of cash; and.
(b) any amount due to Equity Advisers which remains outstanding.
19.4 Nothing in this clause 19 or other clauses in this Agreement shall be construed as binding Equity Advisers to make any advance to the Client as aforesaid nor shall it prejudice any of the rights and remedies Equity Advisers has against the Client or any other persons under this Agreement, the Orders or otherwise conferred by law, equity or usage.
19.5 Equity Advisers may vary such interest rates without notice when changes are to the Client’s advantage, or are due to external circumstances beyond Equity Advisers’s control. Such circumstances include:
(a) changes in the monetary or credit policies domestic or abroad that affect the general interest level in a way that is of importance to Equity Advisers;
(b) other developments in the general interest level, including in the money and bond markets, in a way that is of importance to Equity Advisers; or
(c) changes in the relationship with our counterparties, which affect our cost structures.
19.6 Equity Advisers may vary such interest rates on providing one month’s Notice if:
(a) market conditions, including competitive behaviour, mean it is prudent for us to change its conditions; or
(b) for commercial reasons we wish to change our general cost and pricing structure; or
(c) significant particulars of a Client’s individual conditions have changed.
19.7 Unless otherwise agreed in writing, we are not liable to:
(a) pay interest to you on any Free Balance in any Account or on any other sum held by us; or
(b) account to you for any interest we receive on such sums or in connection with any Order.
ADVANCES AND INTEREST RATES. 19.1 The Client is required to settle each Order on the Value Date or on such date as UM may require settlement.
19.2 If UM agrees to provide a Credit Limit, the Client undertakes to repay upon demand including interest at the rate of 3% per annum above the central bank target rate for the relevant underlying asset or assets to the OTC derivative contract, calculated on a daily basis from the date of such advance up to and including the date of repayment in full.
19.3 In addition to clause 19.2 above, interest at the said rate shall be chargeable on thefollowing items:
(a) any part of the Deposit or additional Deposit not paid or deposited in the form of cash;and.
(b) any amount due to UM which remains outstanding.
19.4 Nothing in this clause 19 or other clauses in this Agreement shall be construed as binding UM to make any advance to the Client as aforesaid nor shall it prejudice any of the rights and remedies UM has against the Client or any other persons under this Agreement, the Orders or otherwise conferred by law, equity or usage.
19.5 UM may vary such interest rates without notice when changes are to the Client’s advantage, or are due to external circumstances beyond UM’s control. Such circumstances include:
(a) changes in the monetary or credit policies domestic or abroad that affect the general interest level in a way that is of importance to UM;
(b) other developments in the general interest level, including in the money and bond markets, in a way that is of importance to UM; or
(c) changes in the relationship with our counterparties, which affect our cost structures.
19.6 UM may vary such interest rates on providing one month’s Notice if:
(a) market conditions, including competitive behaviour, mean it is prudent for us to change its conditions; or
(b) for commercial reasons we wish to change our general cost and pricing structure; or
(c) significant particulars of a Client’s individual conditions have changed.
19.7 Unless otherwise agreed in writing, we are not liable to:
(a) pay interest to you on any Free Balance in any Account or on any other sum held by us; or
(b) account to you for any interest we receive on such sums or in connection with any Order.
ADVANCES AND INTEREST RATES
