Common use of Cash Cover for Purchase Clause in Contracts

Cash Cover for Purchase. (a) Upon receipt of any Instructions for the purchase of Securities, we may earmark against the available credit balance in the Account such amount as shall be estimated by us in our absolute discretion to be required to provide cash cover for the full value of the purchase together with all Transaction charges thereon. (b) If the available credit balance in the Account is insufficient, we shall have no obligation to effect or respond to such Instructions nor to inform you of such fact. (c) You acknowledge that it is your sole responsibility to ensure that the available credit balance in the Account is sufficient to fund the cost of any purchase in full together with all Transaction charges before giving any Instruction for the purchase of Securities, Futures Contracts, Options Contracts or Foreign Exchange Contracts to us.

Cash Cover for Purchase. (a) Upon receipt of any Instructions for the purchase of Securities, we may earmark against the available credit balance in the Account such amount as shall be estimated by us in our absolute discretion to be required to provide cash cover for the full value of the purchase together with all Transaction charges thereon. (b) If the available credit balance in the Account is insufficient, we shall have no obligation to effect or respond to such Instructions nor to inform you of such fact. (c) You acknowledge that it is your sole responsibility to ensure that the available credit balance in the Account is sufficient to fund the cost of any purchase in full together with all Transaction charges before giving any Instruction for the purchase of Securities, Futures Contracts, Options Contracts or Foreign Exchange Contracts to us. Such sole responsibility also applies to a SWT Day.