Customer Securities Standing Authority Sample Clauses

Customer Securities Standing Authority. 5.1 By entering into this Margin Client Agreement, the Customer hereby agrees to provide the Customer Securities Standing Authority set out under Clause 5.2 in respect of the Customer’s Securities and securities collateral, subject to the Customer’s right to revoke such Customer Securities Standing Authority at any time in accordance with Clause 5.7. The Customer understands and acknowledges the risks to the Customer associated with giving the Customer Securities Standing Authority. If the Customer does not agree to provide such Customer Securities Standing Authority at the time of entering into this Margin Client Agreement, the Customer shall submit a written notice to the Company together with the Customer’s completed account opening form which indicates clearly that the Customer does not agree to give such Customer Securities Standing Authority to the Company.
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Customer Securities Standing Authority. 5.1 By entering into this Margin Client Agreement, the Customer hereby agrees to provide the Customer Securities Standing Authority set out under Clause 5.2 in respect of the Customer’s Securities and securities collateral, subject to the Customer’s right to revoke such Customer Securities Standing Authority at any time in accordance with Clause 5.7. The Customer understands and acknowledges the risks to the Customer associated with giving the Customer Securities Standing Authority. If the Customer does not agree to provide such Customer Securities Standing Authority at the time of entering into this Margin Client Agreement, the Customer shall submit a written notice to the Company together with the Customer’s completed account opening form which indicates clearly that the Customer does not agree to give such Customer Securities Standing Authority to the Company. 5.2 The Customer hereby authorises the Company to: (i) apply any of the Customer’s Securities or securities collateral pursuant to a securities borrowing and lending agreement between the Company and a third party, subject to compliance with the Client Securities Rules and/or other applicable regulatory rules; (ii) subject to the Client Securities Rules regarding repledging limits, deposit any of the Customer’s securities collateral with an authorised financial institution as Collateral for financial accommodation provided to the Company; (iii) deposit any of the Customer’s securities collateral with NZSCC as collateral for the discharge and satisfaction of the Company’s settlement obligations and liabilities. The Customer understands that NZSCC will have a fixed charge over the Customer’s securities to the extent of the Company’s obligation and liabilities; (iv) deposit any of the Customer’s securities collateral with any other recognised clearing house, or another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Company’s settlement obligations and liabilities; and (v) apply or deposit any of the Customer’s securities Collateral in accordance with Clauses 5.2(i), 5.2(ii), 5.2(iii) and/or 5.4(iv) above if the Company provides financial accommodation to the Customer in the course of dealing in securities and also provides financial accommodation to the Customer in the course of a4n0y other regulated activity for which the Company is licensed or registered. 5.3 The Customer acknowledges and agrees that the Company may do any of t...
Sample 1

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