Common use of AUTHORIZATION LIMIT Clause in Contracts

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. Your Authorization Limit equals the total of (i) of: 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.