Margin for Clearing. 74.2.1 For the purposes of this Clearing Provision, the Client agrees that prior to commencement of trading on the relevant exchange and in the course of trading and for as long as any position remains open in respect of any Exchange Transaction and the Client owes any liability to uSMART SG, the Client shall provide to uSMART SG in a timely manner, and maintain, collateral and security in such form, and for such amount (including but not limited to cash, fixed deposits and banker’s guarantees) whether for CFD Initial Margin or CFD Maintenance Margin or securing the Client’s obligations or otherwise (“Clearing Margin”) as uSMART SG may, from time to time, require in uSMART SG’s sole and absolute discretion as security for: (a) uSMART SG providing the clearing arrangements and clearing the Client’s Exchange Transactions; (b) any and all liability which uSMART SG may assume when providing clearing arrangements hereunder and clearing the Client’s Exchange Transactions, including but not limited to any indemnity, guarantee or other liability which uSMART SG may assume to the relevant exchange or clearing house, pursuant to all Applicable Law; (c) the performance of the Client’s obligations under this Clearing Provision, this Agreement and in respect of each exchange Transaction; and (d) the payment of all sums of money, and the delivery of all property, which are now or shall at any time be owing or deliverable to uSMART SG anywhere on the Client’s accounts with uSMART SG or the Client’s Exchange Transactions whatsoever, whether from the Client solely or jointly with any other person or persons.
