Holding of Margin. Subject to the Securities and Futures (Client Money) Rules, GTJAFX will hold all Margin on trust for the following beneficiaries in the following order of priority: (i) for GTJAFX to the extent of all sums due or which may become due to GTJAFX under or pursuant to the Agreement; and (ii) for the Client to the extent of any surplus which remains following payment of all those sums due from the Client to GTJAFX under the Agreement, subject to any right of set- off (or any other similar rights) in accordance with Clause 5.5 (Set-off).
Appears in 3 contracts
Samples: Client Agreement for Foreign Exchange and Bullion Trading, Client Agreement for Foreign Exchange and Bullion Trading, Client Agreement for Foreign Exchange Trading
Holding of Margin. Subject to the Securities and Futures (Client Money) Rules, GTJAFX will hold all Margin on trust for the following beneficiaries in the following order of priority:
(i) for GTJAFX to the extent of all sums due or which may become due to GTJAFX under or pursuant to the Agreement; and
(ii) for the Client to the extent of any surplus which remains following payment of all those sums due from the Client to GTJAFX under the Agreement, subject to any right of set- set-off (or any other similar rights) in accordance with Clause 5.5 (Set-off).
Appears in 2 contracts
Samples: Client Agreement for Foreign Exchange and Bullion Trading, Client Agreement for Foreign Exchange and Bullion Trading
