Common use of Cash Held for the Client Clause in Contracts

Cash Held for the Client. 7.1 Any cash held for the Client, other than cash received by CAL in respect of Transactions and which is onpaid for settlement purposes or to the Client, shall be credited to a client trust account maintained with a licensed bank as required by applicable laws and rules of any relevant Exchange or regulatory authority, except that any interest earned on such balance or money shall, to the extent that it exceeds interest payable to the Client at the rate determined by CAL to be applicable, be retained by CAL for its account from time to time. For avoidance of doubt, the Client acknowledges that no interest will be payable to the Client if the daily balance of the Account falls below HK$10,000.

Cash Held for the Client. 7.1 Any cash held for the Client, other than cash received by CAL in respect of Transactions and which is onpaid on–paid for settlement purposes or to the Client, shall be credited to a client trust account maintained with a licensed bank as required by applicable laws and rules of any relevant Exchange or regulatory authority, except that any interest earned on such balance or money shall, to the extent that it exceeds interest payable to the Client at the rate determined by CAL to be applicable, be retained by CAL for its account from time to time. For avoidance of doubt, the Client acknowledges that no interest will be payable to the Client if the daily balance of the Account falls below HK$10,000.