Margin Accounts. (a) Any transaction for a customer will be considered a cash transaction until such time as Broker has furnished SLK with an executed customer's margin agreement and consent to loan of securities in a form acceptable to SLK.
(b) All margin accounts introduced by Broker shall be subject to SLK's "house margin requirements." SLK currently imposes a 40% maintenance requirement. In its sole discretion, and subject to market conditions and periods of extreme volatility, SLK may change the house margin requirements applicable to any customer account or class of customer accounts on appropriate notice to Broker, unless market conditions prevent advance notice. Broker shall be responsible for advising its customer(s) of the changed requirements and for collecting any additional margin necessary to insure compliance with increased requirements.
(c) In all margin accounts, Broker shall be responsible for the initial margin requirement for any transaction until such initial margin has been received by SLK in acceptable form. SLK reserves the right to refuse to accept any transaction in a margin account after the initial transaction, without actual receipt of the necessary margin, and to impose a higher margin requirement, when, in SLK's opinion, the past history or nature of such account or the securities therein justifies such action.
(d) SLK shall endeavor to notify Broker in advance of all margin calls, and shall provide Broker with copies of such calls. In the event that satisfactory margin is not provided within the time specified by SLK, SLK shall be at liberty to take such actions as SLK may, in it a judgment, deem appropriate. After such initial margin has been received, subsequent margin calls may be made by SLK. Broker agrees to cooperate with SLK in complying with and obtaining margin on subsequent calls.
(e) Interest charged with respect to debit balances in customers' accounts shall be determined in accordance with Exhibit A attached hereto.
(f) Broker shall be responsible for any failure on the part o' a customer to meet a "maintenance call", except to the extent directly attributable to SLK's failure to give proper and timely notification to the customer, if, and to the extent, circumstances allow for such notice. An officer of Broker who has been designated by Broker (and acknowledged in writing by SLK) may request, to the extent permitted by the margin rules, that SLK withhold temporarily any contemplated action, or "Sell-out" or "Buy-in", for accoun...
Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin, and Clearing Firm extends credit for the remainder. This loan appears as a debit balance on your monthly statement. Clearing Firm charges interest on the debit balance and requires you to maintain securities, cash, or other property to secure repayment of funds advanced and interest due. You understand and agree that interest will be charged for any credit extended to you for the purpose of buying, trading, or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the account for any reason, interest maybe charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm or the Federal Reserve Board, may be purchased on margin or used as collateral in your Account. Whether a purchase may be made on margin, how much of the purchase price must be available in your Account at the time you place the order, and your margin maintenance requirements, are determined by Clearing Firm, the Federal Reserve Board, or by applicable exchange rules. For Clearing Firm’s own protection, you understand and agree that Clearing Firm reserves the right, at any time and without prior notice you, to impose stricter requirement than those imposed by the Federal Reserve Board or applicable exchange rules. You agree to maintain such required margin in your Account and understand that any debit balances in such Account will be charged interest. All payments received for your Account including interest, dividends, premiums, principal or other payments may be applied by Clearing Firm to any debit balances in such Account. Clearing Firm requires that you have at least $2,000 in equity in your Account, or such higher amount as required by it, or applicable rules and regulations, before it will extend credit to you. Generally, Clearing Firm can loan you no more than50% of the purchase price of the security you are buying on margin. It is Clearing Firm’s general policy to require margin account holders to maintain equity in their accoun...
Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin, and Clearing Firm extends credit for the remainder. This loan appears as a debit balance on your monthly statement. Clearing Firm charges interest for the extension of credit on your debit balance based on rates set by Introducing Firm. You are required to maintain securities, cash, or other property to secure repayment of funds advanced and interest due.
Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin and Pershing extends credit for the remainder. This loan appears as a debit balance on your statement of account. Pershing charges interest on the debit balance and requires you to maintain securities, cash or other property to secure repayment of funds advanced and interest due. Interest will be charged for any credit extended to you for the purpose of buying, trading or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the account for any reason, interest may be charged on the resulting debit balances.
Margin Accounts. Although we do not currently offer margin accounts, we plan to do so in the future. These provisions will apply if you decide to use margin when offered.
Margin Accounts. A. Upon written or oral demand by CSFB from time to time in its sole discretion, Customer shall transfer immediately to CSFB such funds, securities, commodities or other property so demanded by CSFB in its sole discretion, as margin to secure Customer’s payment or performance in connection with Transactions executed by CSFB on Customer’s behalf.
B. Any outstanding debit balance(s) in the Customer Account(s) shall accrue interest, in accordance with CSFB’s Credit Policy or amendments thereto. Any such interest unpaid at the end of a charge period (such period being determined by CSFB from time to time in its sole discretion) will be added automatically to the opening balance in such Customer Account(s) for the next charge period.
C. Until written notice of revocation from Customer is received, CSFB is hereby authorized to lend to itself (whether as broker or otherwise) or to others, any securities held by Customer on margin for the account of or under the control of Customer.
Margin Accounts. All representations and warranties of Shareholder set forth herein are qualified in their entirety by the terms and conditions of the Margin Agreements.
Margin Accounts. All Margin Accounts shall be kept with ABN Amro (“Broker”) unless the Agent shall otherwise consent in writing. Borrower represents and warrants to the Agent that:
(a) Borrower is now the owner, free and clear of all liens, security interests and encumbrances, except for those in favor of the Agent or Broker, of any and all Margin Accounts which are listed in any financial statements or books and records of Borrower as being the property of Borrower; and (b) except as otherwise permitted by this Agreement, Borrower owns no open futures positions which are not either covered by existing, unsold Inventory or covered by reciprocal contracts for future delivery of the product by reliable sellers, or directly related to Inventory which Borrower plans to purchase in the ordinary course of Borrower’s business. Concurrently with the execution of this Agreement, Borrower, the Broker and the Agent have executed an Assignment of Commodity Accounts and Commodity Contracts. With respect to any Margin Account opened after the date of this Agreement, Borrower, the Broker and the Agent shall execute an Assignment of Commodity Accounts and Commodity Contracts, in a standard form reasonably acceptable to the Agent and the Broker. All of the Agent’s rights under such Assignment of Commodity Accounts and Commodity Contracts shall be in addition to the Agent’s rights hereunder, and shall also apply to any Margin Accounts that are maintained, in violation of this Agreement, with any Person other than the Broker, provided, however, the Agent shall not exercise any rights, powers or remedies under any Assignment of Commodity Accounts and Commodity Contracts except upon and during the continuance of a Matured Default. Borrower warrants that the Margin Accounts will be used solely for the hedging of Borrower’s investments in Inventory and not for speculative purposes.
Margin Accounts. Notwithstanding any of the covenants set forth in this Agreement, Shareholder shall not be required or otherwise obligated to take any action or make any election which conflicts with his existing contractual obligations arising under either his margin agreement with Prudential Securities Incorporated or his margin agreement with Morgan Keegan & Company, Inc. (the "Margin Agreements").
Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for