Initial Underlying Collateral Sample Clauses
The 'Initial Underlying Collateral' clause defines the specific assets or securities that are to be provided as collateral at the outset of a financial transaction or agreement. This clause typically outlines the type, quantity, and valuation method for the collateral, ensuring both parties are clear on what is being pledged to secure obligations. By establishing these details upfront, the clause helps prevent disputes over collateral adequacy and provides a clear framework for managing credit risk between the parties.
Initial Underlying Collateral. Broker shall be responsible for the initial underlying collateral requirement for any extension of nonpurpose credit until such initial underlying collateral has been received by Pershing in acceptable form.
Initial Underlying Collateral. Introducing Firm shall be responsible for the initial underlying collateral requirement for any extension of nonpurpose credit until such initial underlying collateral has been received by Clearing Agent in acceptable form.