Common use of Compounded Interest Clause in Contracts

Compounded Interest. You understand and agree that the interest charges imposed on your Account at the close of one charge period will be compounded, that is, added to the opening balance for the next charge period unless paid, thereby becoming part of the principal amount and bearing like interest. Short Sales: Short sales may only be made in margin accounts and are subject to the initial margin and margin maintenance requirements set forth above. Any short sale must be designated as such by you at the time you place such an order. In order to facilitate a short sale, the security that you are selling short must be able to be borrowed to cover the delivery to the purchaser(s). If the stock is recalled by the lender(s) of the securities, Clearing Firm will attempt to re-borrow the securities. However, if Clearing Firm is unable to re-borrow the securities, it may be forced to cover your short position by purchasing the securities on the open market at the then current market price without notice to you. If a short position is closed out, you will be liable for any resulting losses and all associated costs incurred by us. Restricted Securities: Customer will not buy sell, or margin (borrow against) any securities of a corporation of which Customer is a director, executive officer, or 10% stockholder, or are

Compounded Interest. You understand and agree that the interest charges imposed on your Account at the close of one charge period will be compounded, that is, added to the opening balance for the next charge period unless paid, thereby becoming part of the principal amount and bearing like interest. Short Sales: Short sales may only be made in margin accounts and are subject to the initial margin and margin maintenance requirements set forth above. Any short sale must be designated as such by you at the time you place such an order. In order to facilitate a short sale, the security that you are selling short must be able to be borrowed to cover the delivery to the purchaser(s). If the stock is recalled by the lender(s) of the securities, Clearing Firm will attempt to re-borrow the securities. However, if Clearing Firm is unable to re-borrow the securities, it may be forced to cover your short position by purchasing the securities on the open market at the then current market price without notice to you. If a short position is closed out, you will be liable for any resulting losses and all associated costs incurred by us. Restricted Securities: Customer Client will not buy sell, or margin (borrow against) any securities of a corporation of which Customer Client is a director, executive officer, or 10% stockholder, or areare otherwise classified as a control person or insider, or sell any securities that are subject to any restrictions on resale (whether by law, contract or legend on the security) or are not traded on or through a national securities exchange, automated quotation system, or other nationally recognized