Common use of Excess Collateral Clause in Contracts

Excess Collateral. If the conditions for the release of margin under the Customer Agreement have been met, upon Customer’s request to release Collateral to Customer or to a third party, Broker shall promptly Advise Custodian to release Collateral to the extent that after giving effect to such release, Customer will be in compliance with all of its activities and agreements with Broker, including without limitation Section 4(a) and 4(e). For the avoidance of doubt, amounts available for release shall be reduced by the amount of any outstanding margin calls, and irrespective of the value of Collateral credited to the Deposit Account(s), Broker will comply with Customer’s request to release Collateral from the Special Custody Account, only to the extent that such release will not cause a Securities Margin Deficiency.

Excess Collateral. If the conditions for the release of margin under the Customer Agreement have been met, upon Customer’s request to release Collateral to Customer or to a third party, Broker shall promptly Advise Custodian to release Collateral to the extent that after giving effect to such release, Customer will be in compliance with all of its activities and agreements with Broker, including without limitation Section 4(a3(b) and 4(e)3(e) hereof. For the avoidance of doubt, amounts available for release shall be reduced by the amount of any outstanding margin calls, and irrespective of the value of Collateral credited to the Deposit Account(s), Broker will comply with Customer’s request to release Collateral from the Special Custody Account, only to the extent that such release will not cause a Securities Margin Deficiency.