Common use of Margin Facility Clause in Contracts

Margin Facility. 2.1 The Margin Facility is granted to the Client in accordance with the provisions set out in this Agreement, the Client Agreement for Securities Trading and any margin offer letter from GTJAS to the Client (collectively referred as “Margin Facility Terms”). The Client agrees to use the Margin Facility only in connection with the acquisition or holding of Securities. 2.2 Subject to Clause 2.4 below, GTJAS may grant the Client a Margin Facility of such amount up to the Margin Limit as may be notified to the Client from time to time. The Margin Limit available to the Client and the Margin Ratio may be varied at the discretion of GTJAS without any prior notice to the Client. Notwithstanding the Margin Limit as notified to the Client, GTJAS may at its discretion (1) extend the Margin Facility to the Client in excess of the Margin Limit and the Client agrees that the Client shall be liable to repay the full amount of any Margin Facility given by GTJAS on demand, or (2) refuse to make available to the Client any advance under the Margin Facility at any time even if the Margin Limit applicable at that time has not been exceeded. 2.3 GTJAS is authorised by the Client to draw on the Margin Facility to settle any amounts due to GTJAS in respect of the Client’s purchase of Securities, margin maintenance obligations for any positions required by GTJAS or payment of any commission or other costs and expenses owing to GTJAS including costs and any expenses that may be incurred in connection with the realisation of any Collateral. 2.4 GTJAS will not at any time be obliged to provide any Margin Facility to the Client. In particular, the Client understands that GTJAS will be under no obligation to provide or continue to provide any Margin Facility if any of the following circumstances arises:- (a) the Client is in default of any provision of the Margin Facility Terms, including, without limitation, any Event of Default shall have occurred and is continuing; or (b) in the opinion of GTJAS there is or has been a material adverse change in the Client’s financial condition or in the financial condition of any person which might adversely affect Client’s ability to discharge his liabilities or perform his obligations under the Margin Facility Terms; or (c) making an advance would cause the applicable Margin Limit to be exceeded; or (d) GTJAS in its absolute discretion considers it prudent or desirable for its protection not to do so. 2.5 For so long as there exists any indebtedness to GTJAS on the part of the Client, GTJAS shall be entitled at any time and from time to time to refuse any withdrawal of any or all of the Collateral and the Client shall not without the prior written consent of GTJAS be entitled to withdraw any Collateral in part or in whole from the Client’s Account. All amounts (less brokerage and other proper charges) received by GTJAS for or on account of the Client from the sale of Securities shall firstly be paid to the credit of the Margin Account towards the repayment of any amount outstanding under the Margin Facilities. 2.6 The Client agrees to pay interest on a daily basis on the amount of the Margin Facility granted to the Client. The interest rate shall be at a percentage above GTJAS’s cost of funds which will vary according to the prevailing money market situation and as notified to the Client by GTJAS from time to time. Such interest charges may be deducted by GTJAS from the Margin Account or any other account of the Client with GTJAS or any other member of GTJA Group.

Margin Facility. 2.1 The Margin Facility is granted to the Client in accordance with the provisions set out in this Agreement, the Client Agreement for Securities Trading and any margin offer letter from GTJAS USL to the Client (collectively referred as “Margin Facility Terms”). The Client agrees to use the Margin Facility only in connection with the acquisition or holding of Securities. 2.2 Subject to Clause 2.4 below, GTJAS USL may grant the Client a Margin Facility of such amount up to the Margin Limit as may be notified to the Client from time to time. The Margin Limit available to the Client and the Margin Ratio may be varied at the discretion of GTJAS USL without any prior notice to the Client. Notwithstanding the Margin Limit as notified to the Client, GTJAS USL may at its discretion (1) extend the Margin Facility to the Client in excess of the Margin Limit and the Client agrees that the Client shall be liable to repay the full amount of any Margin Facility given by GTJAS USL on demand, or (2) refuse to make available to the Client any advance under the Margin Facility at any time even if the Margin Limit applicable at that time has not been exceeded. 2.3 GTJAS USL is authorised by the Client to draw on the Margin Facility to settle any amounts due to GTJAS USL in respect of the Client’s purchase of Securities, margin maintenance obligations for any positions required by GTJAS USL or payment of any commission or other costs and expenses owing to GTJAS USL including costs and any expenses that may be incurred in connection with the realisation of any Collateral. 2.4 GTJAS USL will not at any time be obliged to provide any Margin Facility to the Client. In particular, the Client understands that GTJAS USL will be under no obligation to provide or continue to provide any Margin Facility if any of the following circumstances arises:- (a) the Client is in default of any provision of the Margin Facility Terms, including, without limitation, any Event of Default shall have occurred and is continuing; or (b) in the opinion of GTJAS USL there is or has been a material adverse change in the Client’s financial condition or in the financial condition of any person which might adversely affect Client’s ability to discharge his liabilities or perform his obligations under the Margin Facility Terms; or (c) making an advance would cause the applicable Margin Limit to be exceeded; or (d) GTJAS USL in its absolute discretion considers it prudent or desirable for its protection not to do so. 2.5 For so long as there exists any indebtedness to GTJAS USL on the part of the Client, GTJAS USL shall be entitled at any time and from time to time to refuse any withdrawal of any or all of the Collateral and the Client shall not without the prior written consent of GTJAS USL be entitled to withdraw any Collateral in part or in whole from the Client’s Account. All amounts (less brokerage and other proper charges) received by GTJAS USL for or on account of the Client from the sale of Securities shall firstly be paid to the credit of the Margin Account towards the repayment of any amount outstanding under the Margin Facilities. 2.6 The Client agrees to pay interest on a daily basis on the amount of the Margin Facility granted to the Client. The interest rate shall be at a percentage above GTJASUSL’s cost of funds which will vary according to the prevailing money market situation and as notified to the Client by GTJAS USL from time to time. Such interest charges may be deducted by GTJAS USL from the Margin Account or any other account of the Client with GTJAS USL or any other member of GTJA uSmart Group.

Margin Facility. 2.1 24.1 The Margin Facility is granted to the Client in accordance with the provisions set out in this Agreement, the Client Agreement for Securities Trading and any margin offer letter from GTJAS USPL to the Client (collectively referred as “Margin Facility Terms”). The Client acknowledge and agree that USPL shall have the right to reduce, cancel or vary, and from time to time review any Margin Facility and that nothing in this Margin Facility Terms shall be deemed to impose on USPL any obligation at applicable laws or in equity to make or continue to make available to the Client a Margin Facility. The Client further acknowledges and agrees that the Margin Facility Terms may be amended, varied or supplemented by USPL from time to time by notice through such other method of notification as USPL may designate (which includes notification by electronic mails or via Electronic Trading Service), such amendment to take effect on the date of such notice or on the date that USPL may specify without further consent from the Client. The Client agrees to use the Margin Facility only in connection with the acquisition or acquisition, sale and/or holding of Marginable Securities. 2.2 24.2 Subject to Clause 2.4 24.5 below, GTJAS USPL may grant the Client a Margin Facility of such amount up to the Margin Limit as may be notified to the Client from time to time. The Margin Limit available to the Client and the Margin Ratio may be varied at the discretion of GTJAS USPL without any prior notice to the Client. Notwithstanding the Margin Limit as notified to the Client, GTJAS USPL may at its discretion (1) extend the Margin Facility to the Client in excess of the Margin Limit and the Client agrees that the Client shall be liable to repay the full amount of any Margin Facility given by GTJAS USPL on demand, or (2) refuse to make available to the Client any advance under the Margin Facility at any time even if the Margin Limit applicable at that time has not been exceeded. 2.3 GTJAS 24.3 USPL is authorised by the Client to draw on the Margin Facility to settle any amounts due to GTJAS USPL in respect of the Client’s purchase of Marginable Securities, margin maintenance obligations for any positions required by GTJAS USPL or payment of any commission or other costs and expenses owing to GTJAS USPL including costs and any expenses that may be incurred in connection with the realisation of any Collateral. 2.4 GTJAS 24.4 Any Collateral deposited with USPL may be valued at 100% of the market valuation or be subject to a discount at such other percentage as USPL may in its sole discretion prescribe from time to time. 24.5 USPL will not at any time be obliged to provide any Margin Facility to the Client. In particular, the Client understands that GTJAS USPL will be under no obligation to provide or continue to provide any Margin Facility if any of the following circumstances arises:- (a) the Client is in default of any provision of the Margin Facility Terms, including, without limitation, any Event of Default shall have occurred and is continuing; or (b) in the opinion of GTJAS USPL there is or has been a material adverse change in the Client’s financial condition or in the financial condition of any person which might adversely affect Client’s ability to discharge his liabilities or perform his obligations under the Margin Facility Terms; or (c) making an advance would cause the applicable Margin Limit to be exceeded; or (d) GTJAS USPL in its absolute discretion considers it prudent or desirable for its protection not to do so. 2.5 24.6 For so long as there exists any indebtedness to GTJAS USPL on the part of the Client, GTJAS USPL shall be entitled at any time and from time to time to refuse any withdrawal of any or all of the Collateral and the Client shall not without the prior written consent of GTJAS USPL be entitled to withdraw any Collateral in part or in whole from the Client’s Account. All amounts (less brokerage and other proper charges) received by GTJAS USPL for or on account of the Client from the sale of Securities shall firstly be paid to the credit of the Margin Account towards the repayment of any amount outstanding under the Margin Facilities. 2.6 24.7 The Client agrees to pay interest on a daily basis on the amount of the Margin Facility granted to the Client. The interest rate shall be at a percentage above GTJASUSPL’s cost of funds which will vary according to the prevailing money market situation and as notified to the Client by GTJAS USPL from time to time. Such interest charges may be deducted by GTJAS USPL from the Margin Account or any other account of the Client with GTJAS USPL or any other member of GTJA uSmart Group. 24.8 In respect of the Margin Facility, the Client hereby undertakes: 24.8.1 that it will at all times comply with all Collateral deposits and/or Margin Ratio and/or other maintenance requirements prescribed by USPL or otherwise notified to the Client by USPL or otherwise notified to the Client by USPL. In this connection, the Client shall where required execute such Collateral documents as may be required by USPL to ensure that USPL will have a valid and enforceable first security interest over all the Customer’s Securities and/or property deposited with USPL as Collateral; 24.8.2 that it shall comply at all times with such position and/or financial exposure limits which USPL may prescribe or otherwise notify the Client from time to time in respect to any single Securities counter that the Client may transact in with respect to the Margin Account; 24.8.3 to take all reasonable steps to obtain and communicate to USPL all information, and deliver or cause to be delivered to USPL all documents, with respect to transactions under the Margin Account which may be requested by USPL or the SGX-ST, CDP, SCCS, MAS or any authority having such right to request for such information to enable USPL to comply with the applicable laws and in any case not later than seven (7) days after being requested in writing by USPL to do so or such earlier date as the SGX-ST, CDP, SCCS, MAS or any other authority may require; 24.8.4 to disclose to USPL if there is any material adverse change in the Client’s business, assets, financial condition, operating environment or management; 24.8.5 the fact that all Securities transactions in the Margin Account shall be on an immediate or a ready basis and the credit extended under the Margin Account shall not be used to subscribe for new issues of Securities (including initial public offers and rights issues). 24.9 The Client acknowledges that in no event is USPL obliged to accept any Instruction the Client may give (for the establishment for a new position) as USPL may, amongst other things, have its own aggregate limits of exposure to a particular Securities counter or aggregate limits to the financing available to USPL or permitted of USPL or the Margin Facility USPL is permitted to engage in, and if USPL had in good faith inadvertently accepted any of the Client’s Instructions which would cause USPL to be in breach of any its obligations whether under the applicable laws, the rules and bye-laws of the SGX-ST or the terms of financing extended to USPL, the Client acknowledges that USPL may in its sole and absolute discretion, take any and all action necessary to rectify such a breach (including but not limited to allocating the Instructions to an Account in the Client’s name other than the Margin Account designated for the Margin Facility) and the Client will effect settlement accordingly. 24.10 The Client acknowledges and understand that trading on margin involves a high degree of risk and may result in loss of funds even greater than the amount deposited by the Client in the Margin Account.