Common use of COLLATERAL AND LENDING AGREEMENT Clause in Contracts

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Client which RJO or its affiliates may at any time be for Client (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by RJO as security and subject to a general lien and right of set-off for liabilities of Client to RJO, irrespective of the number of accounts Client may have with RJO. RJO may in its discretion, at any time and from time to time, without notice to Client, apply and/or transfer any or all funds or other property of Client between any of Client’s accounts. Client hereby also grants to RJO the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other clients, to itself or to others, any securities or other property of Client held by RJO as margin or security. RJO shall at no time be required to deliver to Client the identical property delivered to or purchased by RJO for any account of Client. This authorization shall apply to all accounts carried by RJO for Client and shall remain in full force until all accounts are closed by Client and no amounts are owing to RJO.