Common use of General Margin Policies Clause in Contracts

General Margin Policies. The amount of credit that may be extended by Pershing and the terms of such extension are governed by rules of the Federal Reserve Board and the Financial Industry Regulatory Authority. Within the guidelines of these rules and subject to adjustment required by changes in such rules and Pershing’s business judgment, Pershing establishes certain policies with respect to margin accounts. If the market value of securities in a margin account declines, Pershing may require the deposit of additional collateral. Margin account equity is the current market value of securities and cash deposited as security less the amount owed Pershing for credit extended at its discretion. It is Pershing’s general policy to require margin account holders to maintain equity in their margin accounts of the greater of 30% of the current market value or $3.00 per share for common stock purchased on margin. Pershing applies other standards for other types of securities. For example, securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy as to municipal bonds, corporate bonds, listed United States Treasury notes and bonds, mutual funds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Your Introducing Financial Organization. Notwithstanding the above general policies, Pershing reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making this determination, Pershing may take into account various factors including but not limited to (i) issues as to Your securities such as, among others, the liquidity of a position and concentrations of securities in an Account, (ii) considerations as to Your status, including but not limited to a decline in creditworthiness, (iii) the size of the Account, (iv) the general condition of the market, (v) considerations as to the ability of Pershing to obtain financing, and (vi) regulatory interpretations or guidance. If You fail to meet a margin call in a timely manner, some or all of Your positions may be liquidated.

General Margin Policies. The amount of credit that which may be extended by Pershing Xxxxxxxx and the terms of such extension are governed by rules of the Federal Reserve Board and the Financial Industry Regulatory AuthorityNew York Stock Exchange. Within the guidelines of these rules and subject to adjustment required by changes in such rules and Pershing’s Xxxxxxxx’x business judgment, Pershing Xxxxxxxx establishes certain policies with respect to margin accounts. If the market value of securities in a margin account declines, Pershing may require the deposit of additional collateraladdi- tional acceptable collateral at any time. Margin account equity is the current cur- rent market value of securities and cash deposited as security less the amount owed Pershing for credit extended at its discretion. It is Pershing’s Xxxxxxxx’x general policy to require margin account holders to maintain equity in their margin accounts of the greater of 30% of the current market value or $3.00 3 per share for common stock purchased on margin. Pershing applies other standards for other types of securitiesstock. For example, any security valued at less than $5 per share may not be purchased in a margin account. From time to time, Xxxxxxxx may deem certain securities may be ineligible for margin credit from time to timecredit. For information with respect to general margin maintenance policy as to pol- icy for municipal bonds, corporate bonds, listed United States Treasury notes and bonds, mutual funds, and other securities, as well as information about the eligibility eligibil- ity of particular securities for margin credit, please contact Your Introducing Financial OrganizationPrice. Notwithstanding the above general policies, Pershing reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making this determinationthese determinations, Pershing Xxxxxxxx may take into account various factors including but not limited to (i) issues as to Your securities such asthe size of the account, among others, the liquidity of a position and position, concentrations of securities in an Accountaccount, (ii) considerations as to Your status, including but not limited to or a decline in creditworthiness, (iii) the size of the Account, (iv) the general condition of the market, (v) considerations as to the ability of Pershing to obtain financing, and (vi) regulatory interpretations or guidance. If You I fail to meet a margin call in a timely mannerman- ner, some or all of Your my positions may be liquidated. In the event that additional collateral is requested, I may deposit funds or acceptable securities into my margin account. If satisfactory collateral is not promptly deposited after a request is made, Pershing or Price may, at its dis- cretion, liquidate securities held in any of my Accounts. In this connection, pursuant to its Margin Agreement, Pershing retains a security interest in all securities and other property held in my Accounts, including securities held for safekeeping as long as any credit extended remains outstanding. Securities which are held for my Account and which are in street name, or are being held by a securities depository, are commingled with the same securities being held for other Price customers and for Pershing’s own customers. My ownership of these securities is reflected in Xxxxx’s records. I have the right at any time to require delivery to me of any such securities, which are fully paid for or are in excess of margin requirements. The terms of many bonds allow the issuer to partially redeem or “call” the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by Pershing is partially “called,” Pershing will determine, through a random selection procedure as prescribed by New York Stock Exchange Rules, the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such secu- rities owned by me are selected and redeemed, my Account will be cred- ited with the proceeds. If I do not wish to be subject to this random selection process, I must instruct Price to have Pershing deliver my securities to me. Delivery will be effected provided, of course, that my position is unencumbered or had not already been called by the issuer as described prior to receipt by Xxxxxxxx of my instructions. The probability of one of my securities being called is the same whether they are held by me or by Pershing for me. Xxxxxxxx credits to my Account funds belonging to me, such as dividends, interest, redemptions, and proceeds of corporate reorganizations, on the day such funds are received by Xxxxxxxx. These funds come to Pershing from issuers and various intermediaries in which Pershing is a participant, such as the Depository Trust Company. Periodically, certain of those intermediaries pass on to their participants some or all of the interest earned on funds while in the possession of the intermediary. To the extent Xxxxxxxx receives such payments, Pershing retains them. Information regarding when Pershing credits my Account with funds due to me, when those funds are available to me, and/or when I begin earning inter- est on those funds is available from Price.

General Margin Policies. The amount of credit that may be extended by Pershing the Clearing Agent and the terms of such extension are governed by rules of the Federal Reserve Board and the Financial Industry Regulatory Authority. New York Stock Exchange, Inc. Within the guidelines of these rules and subject to adjustment required by changes in such rules and Pershingthe Clearing Agent or AFS’s business judgment, Pershing the Clearing Agent establishes certain policies with respect to margin accountsMargin Accounts. If the market value of securities in a margin account declines, Pershing The Clearing Agent may require the deposit of additional collateralacceptable collateral at any time. Margin account Account equity is the current market value of securities and cash deposited as security less the amount owed Pershing the Clearing Agent for credit extended at its discretion. It is Pershingthe Clearing Agent’s general policy to require margin account Margin Account holders to maintain equity in their margin accounts Accounts of the greater of 30% of the current market value or $3.00 3 per share for common stock purchased on marginstock. Pershing The Clearing Agent applies other standards for other types of securities. For exampleinstance, securities valued at less than $5 per share may not be purchased in a Margin Account. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy as to for municipal bonds, corporate bonds, listed United States Treasury notes and bonds, mutual funds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Your Introducing Financial OrganizationAFS. Notwithstanding the above general policies, Pershing the Clearing Agent or AFS reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts Accounts or classes of accounts Accounts as it deems necessary. In making this determinationthese determinations, Pershing the Clearing Agent or AFS may take into account various factors factors, including but not limited to (i) issues as to Your securities such asthe size of the Account, among others, the liquidity of a position and position, concentrations of securities in an Account, (ii) considerations as to Your status, including but not limited to or a decline in creditworthiness, (iii) the size of the Account, (iv) the general condition of the market, (v) considerations as to the ability of Pershing to obtain financing, and (vi) regulatory interpretations or guidance. If You you fail to meet a margin call in a timely manner, some or all of Your your positions may be liquidated. AFS will automatically redeem shares of your qualified Money Market Fund to satisfy a debit balance in your Account or to provide necessary cash collateral in your Margin and Short Accounts. AFS will also automatically redeem shares of your Money Market Fund to the extent necessary to settle securities transactions if your free credit balance on the day before settlement is insufficient to settle the transaction.

General Margin Policies. The amount of credit that may be extended by Pershing and the terms of such extension are governed by rules of the Federal Reserve Board and the Financial Industry Regulatory Authority. Within the guidelines of these rules and subject to adjustment required by changes in such rules and Pershing’s business judgment, Pershing establishes certain policies with respect to margin accounts. If the market value of securities in a margin account declines, Pershing may require the deposit of additional collateral. Margin account equity is the current market value of securities and cash deposited as security less the amount owed Pershing for credit extended at its discretion. It is Pershing’s general policy to require margin account holders to maintain equity in their margin accounts of the greater of 30% of the current market value or $3.00 per share for common stock purchased on margin. Pershing applies other standards for other types of securities. For example, securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy as to municipal bonds, corporate bonds, listed United States Treasury notes and bonds, mutual funds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Your Introducing Financial OrganizationTIAA-CREF. Notwithstanding the above general policies, Pershing reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making this determination, Pershing may take into account various factors including but not limited to (i) issues as to Your your securities such as, among others, the liquidity of a position and concentrations of securities in an Account, (ii) considerations as to Your your status, including but not limited to a decline in creditworthiness, (iii) the size of the Account, (iv) the general condition of the market, (v) considerations as to the ability of Pershing to obtain financing, and (vi) regulatory interpretations or guidance. If You fail to meet a margin call in a timely manner, some or all of Your positions may be liquidated.,

General Margin Policies. The amount of credit that may be extended by Pershing and the terms of such extension are governed by rules of the Federal Reserve Board and the Financial Industry Regulatory Authority. Within the guidelines of these rules and subject to adjustment required by changes in such rules and Pershing’s business judgment, Pershing establishes certain policies with respect to margin accounts. If the market value of securities in a margin account declines, Pershing may require the deposit of additional collateral. Margin account equity is the current market value of securities and cash deposited as security less the amount owed Pershing for credit extended at its discretion. It is Pershing’s general policy to require margin account holders to maintain equity in their margin accounts of the greater of 30% of the current market value or $3.00 per share for common stock purchased on margin. Pershing applies other standards for other types of securities. For example, securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy as to municipal bonds, corporate bonds, listed United States Treasury notes and bonds, mutual funds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Your Introducing Financial OrganizationTIAA-CREF. Notwithstanding the above general policies, Pershing reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making this determinationthese determinations, Pershing may take into account various factors including but not limited to (i) issues as to Your securities such asthe size of the Account, among others, the liquidity of a position and position, unusual concentrations of securities in an Account, (ii) considerations as to Your status, including but not limited to or a decline in creditworthiness, (iii) the size of the Account, (iv) the general condition of the market, (v) considerations as to the ability of Pershing to obtain financing, and (vi) regulatory interpretations or guidancecredit worthiness. If You fail account holder fails to meet a margin call in a timely manner, some or all of Your account holder’s positions may be liquidated.. Please note that approval of margin privileges is subject to review by TIAA-CREF. To apply for margin privileges, please contact a TIAA-CREF Brokerage Services representative. The following terms and conditions shall govern all Margin Accounts: