Common use of Interest Charges on Open Position Clause in Contracts

Interest Charges on Open Position. In any Open Position held by the Client, XX XXXXXX shall from time to time credit the Clients account for interest earned, or debit the Clients account for interest incurred from the Value Date until the position is liquidated, in the following manner: (i) For buying of one currency against the sale of another currency and the currency bought has a higher interest rate than the currency sold, interest arising therefrom shall be credited to the Clients account; (ii) For selling of one currency against the purchase of another currency and the currency sold has a higher interest rate than the currency bought, interest arising there from shall be debited to the Clients account; (iii) In the case of a negative interest rate, interest arising therefrom shall be debited to the Clients account; (iv) In all cases, interest shall be at the annual rate to be determined by XX XXXXXX from time to time without notice.

Interest Charges on Open Position. In any Open Position held by the Client, XX XXXXXX TREX shall from time to time credit the Clients account for interest earned, or debit the Clients account for interest incurred from the Value Date until the position is liquidated, in the following manner: (i) For buying of one currency against the sale of another currency and the currency bought has a higher interest rate than the currency sold, interest arising therefrom shall be credited to the Clients account; (ii) For selling of one currency against the purchase of another currency and the currency sold has a higher interest rate than the currency bought, interest arising there from shall be debited to the Clients account; (iii) In the case of a negative interest rate, interest arising therefrom shall be debited to the Clients account; (iv) In all cases, interest shall be at the annual rate to be determined by XX XXXXXX TREX from time to time without notice.

Interest Charges on Open Position. In any Open Position held by the Client, XX XXXXXX JDX shall from time to time credit the Clients account for interest earned, or debit the Clients account for interest incurred from the Value Date until the position is liquidated, in the following manner: (i) For buying of one currency against the sale of another currency and the currency bought has a higher interest rate than the currency sold, interest arising therefrom shall be credited to the Clients account; (ii) For selling of one currency against the purchase of another currency and the currency sold has a higher interest rate than the currency bought, interest arising there from shall be debited to the Clients account; (iii) In the case of a negative interest rate, interest arising therefrom shall be debited to the Clients account; (iv) In all cases, interest shall be at the annual rate to be determined by XX XXXXXX JDX from time to time without notice.