Margin Loans. Shares subject to this Trading Plan may not be used to secure margin loans to Client made by Broker.
Margin Loans. None of the transactions contemplated in the Agreement will violate or result in a violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulation issued pursuant thereto, including, without limitation, Regulation U of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. Neither the Company nor any Subsidiary owns or intends to carry or purchase any "margin security" within the meaning of said Regulation U. None of the proceeds of the Revolving Loans or the Letters of Credit have been or will be used to purchase or refinance any borrowing, the proceeds of which were used to purchase any "security" within the meaning of the Securities Exchange Act of 1934, as amended.
Margin Loans. 3.1. A Stockholder may grant a lien or security interest in, pledge, hypothecate or exxxxxxx (xxllectively, a "Pledge") any Shares beneficially owned by such Stockholder to a reputable bank, savings and loan association, investment bank, brokerage firm of other financial or lending institution, but specifically excluding hedge funds, with assets (in name or under management) of not less than $1,000,000,000 (a "Margin Lender") in connection with the incurrence by such Stockholder of financial indebtedness (a "Margin Loan") in a principal amount not to exceed the lesser of (a) the Permitted Loan Value set forth next to such Stockholder's name on Schedule A and (b) fifty percent (50%) of the fair market value of such Pledged Shares at the time such Pledge is granted by such Stockholder; provided, however, that the Margin Lender must agree in writing at or prior to the time such Pledge is made that no Transfer of Shares in connection with a foreclosure, forfeiture or similar proceeding arising from the operation of such Pledge shall be made except as provided in Section 3.2.
3.2. A Margin Lender that has been granted a Pledge of Shares may Transfer such Shares in connection with, and only in connection with, a foreclosure, forfeiture or similar proceeding arising from the operation of such Pledge. Upon such a foreclosure, forfeiture or similar proceeding, the Margin Lender shall promptly give written notice (a "Notice") thereof to the Principal Stockholder. The Notice shall state the number of Shares to which such Notice relates (which shall be all Shares related to such foreclosure, forfeiture or similar proceeding) and offer (the "Offer") the Principal Stockholder the option to acquire any or all of such Shares. The Principal Stockholder shall have five Business Days following receipt of a Notice (the "Response Period") to respond to the Margin Lender in writing (a "Response") indicating its intention to accept the Offer, subject to negotiation of mutually satisfactory terms. Upon delivery by the Principal Stockholder of a Response, the Principal Stockholder and Margin Lender shall use their respective reasonable best efforts to consummate a Transfer of the Shares identified in the Offer within thirty Business Days upon terms satisfactory to both the Margin Lender and the Principal Stockholder. Upon the first to occur of (i) rejection of the Offer by the Principal Stockholder and (ii) the expiration of the Response Period without the Principal Stockholder de...
Margin Loans. (a) The value of the collateral securing each loan to each PC/CM Customer (collectively, the “Margin Loans”) as of the close of business of the immediately preceding Business Day prior to the Closing Date, (i) is not less than the amount reflected on the books of the PC/CM Business as the value of such collateral as of such date as (A) provided by third party pricing vendors identified in Section 5.8(a) of the Xxxx Xxxxx Disclosure Letter, (B) provided by other sources as will be disclosed three Business Days prior to the Closing Date, which are engaged by the PC/CM Business to value such collateral in the ordinary course of business consistent with customary industry practice and reasonably acceptable to Citigroup (provided, however, that if any such pricing source is not reasonably acceptable to Citigroup, a third party independent source will be used and provided, further, however, that if no third party independent source is available, the relevant price will be mutually agreed upon by Citigroup and Xxxx Xxxxx), or (C) in the case of any security for which there is no closing sale price as of such date, reasonably estimated by the Parties, and (ii) satisfies the requirements set forth in Regulation T of the Board of Governors of the Federal Reserve System and NYSE Rule 431.
(b) Except for the amount reflected on the books of the PC/CM Business as an offset against unsecured and partially secured accounts receivable, including collateral carried in the proprietary account of certain introducing firms, no other reserves (determined in accordance with GAAP) are required to be established with respect to the Margin Loans. The applicable PC/CM Subsidiary has a valid and perfected security interest with respect to each Margin Loan to the extent required by Requirements of Law.
Margin Loans. If I apply for a margin facility, Xxxxxx Xxxxx may, in its sole discretion, grant the facility upon condition that Xxxxxx Xxxxx may, without notice, at any time: (a) reduce or cancel any margin facility made available to me or refuse to grant any additional margin facility to me; and/ or (b) require me to provide margin in addition to the margin required by applicable rules and regulations. I will provide Xxxxxx Xxxxx with any margin that is requested by Xxxxxx Xxxxx and will promptly pay any indebtedness due as a result of any reduction or cancellation of any margin facility. I acknowledge that Xxxxxx Xxxxx may operate its margin business on a trade date basis.
Margin Loans. If I want margin credit, I shall complete and execute appropriate applications and agreements for margin credit to be provided by Xxxxxxxx. I understand that the application will be subject to acceptance. For information on the benefits, costs, and risks of margin, see Pershing’s Margin Agreement and Disclosure, available upon request. Margin may not be available in all accounts types. For more information please contact your HSBC Securities representative or HSBC Securities at the phone number listed at the beginning of this agreement.
Margin Loans. The Investor irrevocably appoints Xxxxxxx and each Authorised Attorney to carry out the following in relation to the Investor’s margin loan(s):
a. Act as an authorised representative;
b. Draw and repay funds as required; and
c. Nominate shares, investments in managed funds and/or cash as security for the margin loan as required. This includes but i s not limited to all shares, managed funds and cash associated with the margin loan either directly or through any cash management account or trust. This authorisation operates in conjunction with previous appointments of authorised representatives. Xxxxxxx is not liable for any failure to repay funds to the margin loan account or any failure to nominate shares, investments in managed funds or cash as security for the margin loans.
6.1 Withdrawals and Deposits The Investor can request a withdrawal by giving Xxxxxxx written notice. Xxxxxxx will comply with the request as soon as practicable and in any event within 6 Business Days after the request is received by Xxxxxxx. The Investor can give more money to Xxxxxxx to form part of the Portfolio and management under this agreement from time to time, but is not obliged to. Dividends, distributions and other income earned in respect of the Portfolio (including realised capital gains) will not be distributed to the Investor, but will be reinvested in the Portfolio. Xxxxxxx must not extend credit to the Investor for investment. Custodian Services
a. If any of the assets in the Portfolio are held in custody this clause 6 applies.
b. Xxxxxxx will not permit the Investor’s Portfolio to be pooled with any other assets to enable an investment to be made or made on more favourable terms.
c. Xxxxxxx confirms the assets of the Investor’s Portfolio: i are held: a. in trust for the Investor, or b. in trust for the Investor and other Investors of Private Portfolio Account services provided under a managed investment scheme that Wilsons operates; or
c. in trust for Xxxxxxx who holds the beneficial interest in trust for the Investor; or
d. in accordance with the operating rules of a licensed market, in an investor segregated account operated by a participant of that market where the participant is required to call margins from an Investor under those rules; and ii unless held in accordance with subparagraph (i)(D), are held separately from the assets of Xxxxxxx and any person acting on its behalf and any Investor other than the Investor and any other person, except for:
a. cash (in...
Margin Loans. Use any of the Loan, directly or indirectly, to purchase or carry margin securities within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or engage as its principal business in the extension of credit for purchasing or carrying such securities.
Margin Loans. (a) General. From time to time, and following request from Client, GSI may in its discretion agree to extend credit to Client in an amount which in aggregate exceeds £25,000 (or the foreign currency equivalent thereof) for the purpose of purchasing or carrying securities or other property (the aggregate extensions of credit outstanding hereunder, the “Margin Loan”).
Margin Loans. 11 Section 8.03. Chief Executive Office.....................................................................11 Section 8.04. Governing Law, Jurisdiction, Consent to Service of Process.................................11 Section 8.05. Waiver of Jury Trial.......................................................................11 Section 8.06. Notices....................................................................................12 Section 8.07. Representations............................................................................13 Section 8.08. Further Assurances.........................................................................13 Section 8.09. Successors and Assigns.....................................................................14 Section 8.10. Severability...............................................................................14 Section 8.11. Counterparts...............................................................................14 EXHIBITS: Exhibit A - Malin Group Loans Exhibit B - Related Party Stock Ownership Exhibit C - Xxxxxx Note Exhibit D - Preferred Stock Details Exhibit E - Preferred Shareholder Note Exhibit F - Amendment to Preferred Stock Exhibit G - Loan Details Exhibit H - Intercreditor Agreement Exhibit I - Software Security Agreement Exhibit J - General Security Agreement Exhibit K - Warrant Exhibit L - Registration Rights Agreement Exhibit M - Source Code Escrow Agreement Exhibit N - Consulting Agreement Exhibit O - Existing Liens Schedule MASTER SUBORDINATION, WAIVER, RELEASE AND INDEMNIFICATION AGREEMENT
