AUTHORIZATION LIMIT. Your Authorization Limit equals the total of (i) any available free credit balances in the Brokerage Account; (ii) the available value of the Sweep Program; and (iii) the available margin loan value of eligible securities in the Brokerage Account, if you have a margin account. The loan value of eligible securities is subject to regulatory requirements and our margin policies then in effect, which may be more stringent than those required by government regulation. Since your Authorization Limit is dependent upon securities prices as well as changes in the debit balance in the Brokerage Account and any transactions, it will likely fluctuate from day to day.
AUTHORIZATION LIMIT. The Authorization Limit comprises the following three components: (1) any free credit balances in your Brokerage Account; (2) the net asset value of the Fund shares in the Funds; (3) the available margin loan value of securities in the Brokerage Account (if your ProCash Plus Account is established as a margin account). The Authorization Limit may fluctuate from day to day because it is dependent upon changes in the debit balance in the Brokerage Account as well as the current market value of securities. As soon as the Bank is notified of the use of the Card/Check, the Authorization Limit is immediately reduced, not when a sales draft or cash advance draft is paid. Fund shares are not redeemed, however, until the item is presented to the Bank for payment. If your Authorization Limit is reduced or will be reduced below zero due to Checking and Card transactions, the Check may be returned unpaid or the Card authorization will be declined. Certain charges will apply for any Checks that are returned unpaid, as disclosed on the Financial Terms card. You promise not to incur Card purchases or advances or issue Checks that exceed your Authorization Limit.
