Hypothecation of Securities. For any amount due on your account, you authorize that your securities may be pledged, re-pledged, and hypothecated or re- hypothecated, without notice to you, either separately or with securities of other bona fide clients. You represent that you will not allow any securities in any of your accounts to become subject to liens, security interests or other encumbrances. You further represent that you are not controlled by or in control of any issuer of any security you have provided as collateral to COR.
Hypothecation of Securities. For any a mo unt due on your account, you authorize that your securities m ay be p ledged, re - pledged, and hy p ot h ecat e d or re- hyp ot he cat e d, without notice to you, either separat xxx or w ith securities of other bon a fide clients. You repre sent that you w ill not allow any securities in any of your account s to be c o me subject to liens, security in terests or ot her en c u mb ra n ces. You furt her represent that you are not controlled by or in cont rol of any issuer of any security you have pr ovided as collateral to V elox C learing. L i q u i d a t ion . You ackno w ledge that securities held in your account may be liq u idated w ithout notice to satisfy minimum m ai nt en a nc e or marg in calls. You are not entitled to choose w h ich securities or other assets in your account( s) are liq u idated or sold by Ve lox C learing to meet a margin call. You are not entitled to an ext ension of time to meet a margin call. W h ile an extension of time to m eet margin re q uir e me nt s may be available to you u n der certain xxxxxx ions, you do not have a right to the ex tension. W ithout lim itation, any of the fo llow ing circumstances may g ive rise for V elox C learing to exercise th is pow er: (i) your failure to pro m pt ly m eet any call for addit ional collateral; (ii) the filin g of a petition in b a n xxxx xx y by or ag ainst you; (iii) the ap p o int m e nt of a receiver is filed by or against you; (iv ) a significant j ud g me nt is entered against you, or any levy i s made on your account(s); and (v) the occ urren ce of any event w h ich , in Velox C learing’s or your Broker’s j ud g m en t, op erates to imp air your ability to p erform its obligations und er this Marg in A gr e em e nt . In any such event, and w ithout furt her notice, you aut horize V elox C learing and/ or your Broker to (i) sell any securities held in your account(s); (ii) buy any securities w h ich may be short; (iii) cancel any open order; (iv ) to close any out st xxxxxx order; and (v) otherw ise take any action xxxx xx neces sary to comply w ith applicable stat ut es, ru les and regulations or any other req uireme nt s governing your margin account . If for any reason V elox C learing delays or forgoes for a period the enf orc e m en t of its marg in r eq uir e m e nts, Velox Clearing’s s ub s eq u e nt enforcem ent or right to enforce is not thereb y w aived. G o v e r n i n g L a w . This Marg in A g r e e m e n t and all d o c u m e n ts incorporated by...
