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 accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your Advisor. Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or a decline in creditworthiness. If you fail to meet a margin call in a timely manner, some or all of your positions maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account falls below Clearing Firm’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.
Appears in 6 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
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 accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your Advisor. Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or a decline in creditworthiness. If you fail to meet a margin call in a timely manner, some or all of your positions maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account falls below Clearing Firm’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.payments
Appears in 2 contracts
Samples: Client Agreement, Client Agreement
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 accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your AdvisorRIA. Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or a decline in creditworthiness. If you fail to meet a margin call in a timely manner, some or all of your positions maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account falls below Clearing Firm’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.above
Appears in 1 contract
Samples: Client Agreement
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 we extend credit for the remainder. This loan appears The amount borrowed will appear as a debit balance on your monthly statement. Clearing Firm charges You will be charged interest on the amount borrowed at varying rates as described in the Statement of Interest Charges. We charge interest on the debit balance and requires require you to maintain securities, cash, or other property to secure repayment of funds advanced and interest due. You understand that we reserve the right to not extend margin privileges, even if margin privileges have previously been extended to you, for any reason without prior notice to you. Margin trading is not for everyone. Margin clients should be certain they understand the operation of a margin account under various market conditions and agree should examine their investment objectives, financial resources, and risk tolerance to determine whether margin trading is appropriate. You understand that interest the increased leverage which margin provides may heighten both risks and rewards. By entering into this Agreement, you acknowledge receipt of the Margin Risk Disclosure Statement which contains more information about the risks associated with margin trading. 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 may be charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm us 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 Firmus, the Federal Reserve Board, FINRA, or by applicable exchange rules. For Clearing Firm’s our own protection, you understand and agree that Clearing Firm reserves we reserve the right, at any time and without prior notice you, to you to impose stricter requirement requirements than those imposed by the Federal Reserve Board Board, FINRA, or applicable exchange rules. You agree to will maintain such required margin in your Account and understand that any debit balances in such Account will be charged interest. All We may apply any or all payments received for your Account including interest, dividends, premiums, principal principal, or other payments may be applied by Clearing Firm to any debit balances in such Account. Clearing Firm requires that you You are required to have at least $2,000 in equity in your Account, or such higher amount as required by it, us or applicable rules and regulations, before it we will extend credit to you. Generally, Clearing Firm we can loan lend you no more than50than 50% of the purchase price of the security you are buying on margin. It is Clearing Firm’s our general policy to require margin account holders Account Holders to maintain equity in their accounts equity of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assizeas size, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies We apply other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm us or your Financial Advisor. Notwithstanding any of the above general policies, Clearing Firm reserves and without notice to you, we reserve the right, at its our discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts accounts, particular securities, classes of accounts, or classes of accounts securities as it deems we deem necessary. In making these determinations, Clearing Firm we may take into consideration various factors including including, but not limited to, the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an accountaccount or firmwide, or a decline in creditworthiness. If you fail to meet a margin call in a timely mannercall, some or all of your positions maybe may be liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells we sell (or buys buy in for short positions) any securities in your Account when your Account falls below Clearing Firm’s our margin maintenance requirements or under any other circumstances in which Clearing Firm we may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm we may still, at its our sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm we may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.
Appears in 1 contract
Samples: Client Agreement (VII Peaks Co-Optivist Income BDC II, Inc.)
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 the your debit balance and requires you 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. 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 Account for any reason, interest maybe may be charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm or Firm, the Federal Reserve BoardReserve, FINRA, or applicable exchange rules 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 BoardReserve, FINRA, or by applicable exchange rules. For Clearing Firm’s '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 requirements than those imposed by the Federal Reserve Board Board, FINRA, 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 principal, or other payments may be applied by Clearing Firm to any debit balances in such Account. Clearing Firm requires that you You are required to 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 than50than 50% of the purchase price of the security you are buying on margin. It is Clearing Firm’s 's general policy to require margin account holders to maintain equity in their accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assizeas size, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your Advisorregistered representative. Notwithstanding Despite any of the above general policies, Clearing Firm reserves the right, at its discretion, and without prior notice to you, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts accounts, particular securities, classes of accounts, or classes of accounts securities as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or firm-wide or a decline in creditworthiness. If you fail to meet a margin call in a timely mannercall, some or all of your positions maybe may be liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account falls fails below Clearing Firm’s 's margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.
Appears in 1 contract
Samples: Brokerage Account Agreement
Margin Accounts. Purchases of THIS PARAGRAPH 9 AND THE LENDING AGREEMENT BELOW BECOME OPERATIVE IF TRANSACTIONS ARE EFFECTED IN A MARGIN ACCOUNT, AS DEFINED UNDER REGULATION "T", OR IF AN ACCOUNT IS MAINTAINED ON A MARGIN ACCOUNT BASIS.
(a) If securities are purchased on creditmargin and/or deposited against monies owed or borrowed, commonly known you may open a margin account as defined in Regulation T and maintain such securities as collateral for my indebtedness. I agree to comply with such Regulation and applicable exchange maintenance requirements for a margin purchases, enable account. I also agree to maintain such collateral in my account as you may in your discretion from time to increase the buying power of time establish as your equity internal maintenance requirements and thus increase the potential for profit or lossacknowledge that you may in your discretion change such requirements without notice. A portion I also acknowledge you are not obligated to request additional margin from me if my account falls below any of the purchase price is deposited when buying securities on marginforegoing maintenance requirements, 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 there may be circumstances when you to maintain securities, cash, will liquidate securities or other property in my account without notice if my account falls below any such maintenance requirements. I will pay on demand any balance owing with respect to secure repayment my margin account.
(b) The securities and other property in my account may be carried in your general loans and commingled with securities carried for the accounts of funds advanced other customers or with securities carried for other persons under a lien for a loan made by you and interest due. You understand may be pledged, repledged, hypotheticated or rehypotheticated, separately or in common with other securities and agree that interest will be charged other property for any credit extended the sum due to you for the purpose of buying, trading, or carrying any securities, for any cash withdrawals made against the collateral of securities, thereon or for any a greater sum and without retaining in your possession and control for delivery a like amount of similar securities and 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. property.
(c) 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 of my death or the Federal Reserve Board, may be purchased on margin or used as collateral whenever in your Accountdiscretion you consider it necessary for your protection, you may without notice sell any or all securities and other property held in any of my accounts, cancel any open orders for the purchase or sale of any securities and other property, and borrow or buy in all securities and other property required to make delivery against any sale, including a short sale, effected for me. Whether a Such sale or purchase may be made according to your judgment and at your discretion on marginthe exchange or other market where such business is then usually transacted or at public auction or at private sale, how much of the purchase price must be available in your Account at the time you place the orderwithout advertising or notice to me, and no demands, calls, tenders or notices which you may make or give in any one or more instances shall invalidate the aforesaid waiver on my part. At any such sale you may purchase the securities and other property free of any right of redemption and I shall be liable for any deficiency in my accounts.
(d) I agreed to pay, monthly, charges upon my margin accounts in accordance with your margin maintenance requirementsStatement of Credit Terms, are determined by Clearing Firma copy of which I acknowledge receiving, the Federal Reserve Board, or by applicable exchange rules. For Clearing Firm’s own protection, and such other charges as you understand may make to cover you facilities and services.
(e) I agree that Clearing Firm reserves the right, at any time and without prior notice you, in giving orders 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 sell all "short" sales orders will be charged interest. All payments received for your Account including interest, dividends, premiums, principal or other payments may designated as "short" and all "long" sales orders will 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 designated 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 accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well assize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your Advisor. Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts or classes of accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or a decline in creditworthiness. If you fail to meet a margin call in a timely manner, some or all of your positions maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account falls below Clearing Firm’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities"long".
Appears in 1 contract
