Common use of Margin Clause in Contracts

Margin. 3.1 The Client agrees to maintain such Margin and shall on demand pay such additional Margin by means of cash, securities or in such form and/or amounts and within such time as may be determined by WLSL to be payable by the Client or by WLSL on the Client’s behalf in respect of such Margin or any other payment in connection with any Transaction under the terms of this Agreement. 3.2 Without limiting the generality of the main body of this Agreement, the time for payment of any Margin is of the essence. The Client also agrees to pay immediately in full and on demand any amount owing with respect to any of the Client’s accounts with WLSL. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as WLSL may in its sole discretion require. 3.3 Notwithstanding Clause 3.1, in the event that it is, in the sole opinion of WLSL, impracticable for WLSL to make demands for additional Margin pursuant to Clause 3.1, including but without limitation, if the impracticably is due to a change or development involving a prospective change: 3.3.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of WLSL likely to result in a material or adverse fluctuation in the stock market, currency market, commodities or futures market in Hong Kong and/or overseas; or 3.3.2 which is or may be of a material adverse nature affecting the condition or operations of the Client, WLSL shall be deemed to have made Margin calls for such form and/or amounts as WLSL may determine and such Margin shall become immediately due and payable by the Client. 3.4 WLSL shall be entitled to revise the Margin requirements from time to time in its absolute discretion. The Client shall be granted financial accommodation of up to such percentage as may be agreed from time to time of the market value of the collateral maintained with WLSL. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision. 3.5 For the avoidance of doubt, failure by the Client to meet Xxxxxx calls made by WLSL by the time prescribed by WLSL or otherwise or any other accounts payable hereunder shall give WLSL the right (without prejudice lo other rights) to close the Account and/or to close out any position in the Account (as the case may be) without notice to the Client and to dispose of any or all Securities held for or on behalf of the Client and to apply the proceeds and any cash deposit(s) to pay WLSL all outstanding balances owing to WLSL any monies remaining after that application shall be refunded to the Client. 3.6 Nothing in this Agreement shall be construed as taking away or affecting any lawful claim, lien or other rights and remedies which WLSL may have in respect of any money held in any bank account pursuant to the main body of this Agreement or in respect of any money received or paid into such bank account. 3.7 For the avoidance of doubt, if a debit balance arises on any of the accounts the Client has with WLSL or any of its Group Companies, WLSL shall not be, nor shall WLSL be deemed to be, obliged to make available or continue to make available any financial accommodation to the Client. In particular, but without limitation, the fact that WLSL permits a debit balance to arise in any account of the Client with WLSL shall not imply any obligation on the part of WLSL to advance monies or incur any obligation on the Client’s behalf on any subsequent occasion, but without prejudice to the obligations of the Client in respect of any debit balance which WLSL does permit to arise.

Margin. 3.1 The Client agrees to maintain such Margin and shall on demand pay such additional Margin by means of cash, securities or in such form and/or amounts and within such time as may be determined by WLSL the Company to be payable by the Client or by WLSL the Company on the Client’s behalf in respect of such Margin or any other payment in connection with any Transaction under the terms of this Agreement. 3.2 Without limiting The Client shall in all cases comply with the generality of provisions concerning timing when performing all the main body of obligations under this Agreement, the . The time for payment of any Margin is of the essence. The Client also agrees to pay immediately in full and on demand any amount owing with respect to any of the Client’s accounts with WLSLthe Company. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as WLSL the Company may in its sole discretion require. 3.3 Notwithstanding Clause 3.1, in the event that it is, in the sole opinion of WLSLthe Company, impracticable for WLSL the Company to make demands for additional Margin pursuant to Clause 3.1, including but without limitation, if the impracticably impracticability is due to a change or development involving a prospective change: 3.3.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of WLSL the Company likely to result in a material or adverse fluctuation in the stock market, currency market, commodities or futures market in Hong Kong and/or overseas; or 3.3.2 which is or may be of a material adverse nature affecting the condition or operations of the Client, WLSL the Company shall be deemed to have made Margin calls for such form and/or amounts as WLSL the Company may determine and such Margin shall become immediately due and payable by the Client. 3.4 WLSL the Company shall be entitled to revise the Margin requirements from time to time in its absolute discretion. The Client shall be granted financial accommodation of up to such percentage as may be agreed from time to time of the market value of the collateral Collateral maintained with WLSLthe Company. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision. 3.5 For the avoidance of doubt, failure by the Client to meet Xxxxxx calls made by WLSL the Company by the time prescribed by WLSL the Company or otherwise or any other accounts payable hereunder shall give WLSL the Company the right (without prejudice lo to its other rights) to close the Account and/or to close out any position in the Account (as the case may be) without notice to the Client and to dispose of any or all Securities held for or on behalf of the Client and to apply the proceeds and any cash deposit(s) to pay WLSL the Company all outstanding balances owing to WLSL any the Company. Any monies remaining after that application shall be refunded to the ClienttheClient. 3.6 Nothing in this Agreement shall be construed as taking away or affecting any lawful claim, lien or other rights and remedies which WLSL the Company may have in respect of any money held in any bank account pursuant to Clause 32 of the main body of this Agreement or in respect of any money received or paid into such bank account. 3.7 For the avoidance of doubt, if a debit balance arises on any of the accounts the Client has with WLSL the Company or any of its Group Companies, WLSL the Company shall not be, nor shall WLSL the Company be deemed to be, obliged to make available or continue to make available any financial accommodation to the Client. In particular, but without limitation, the fact that WLSL the Company permits a debit balance to arise in any account of the Client with WLSL the Company shall not imply any obligation on the part of WLSL the Company to advance monies or incur any obligation on the Client’s behalf on any subsequent occasion, but without prejudice to the obligations of the Client in respect of any debit balance which WLSL the Company does permit to arise.

Margin. 3.1 The Client Customer agrees to maintain such Margin and shall on demand pay such additional Margin by means of cash, securities or in such form and/or amounts and within such time as may be determined by WLSL CMSHK to be payable by the Client Customer or by WLSL CMSHK on the ClientCustomer’s behalf in respect of such Margin or any other payment in connection with any Transaction under the terms of this Agreement. 3.2 Without limiting the generality of Clause 29.2 of the main body of this Agreement, the time for payment of any Margin is of the essence. The Client Customer also agrees to pay immediately in full and on demand any amount owing with respect to any of the ClientCustomer’s accounts with WLSLCMSHK. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as WLSL CMSHK may in its sole discretion require. 3.3 Notwithstanding Clause 3.1, in the event that it is, in the sole opinion of WLSLCMSHK, impracticable for WLSL CMSHK to make demands for additional Margin pursuant to Clause 3.1, including but without limitation, if the impracticably impracticability is due to a change or development involving a prospective change: 3.3.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of WLSL CMSHK likely to result in a material or adverse fluctuation in the stock market, currency market, commodities or futures market in Hong Kong and/or overseas; or 3.3.2 which is or may be of a material adverse nature affecting the condition or operations of the ClientCustomer, WLSL CMSHK shall be deemed to have made Margin calls for such form and/or amounts as WLSL CMSHK may determine and such Margin shall become immediately due and payable by the ClientCustomer. 3.4 WLSL CMSHK shall be entitled to revise the Margin requirements from time to time in its absolute discretion. The Client Customer shall be granted financial accommodation of up to such percentage as may be agreed from time to time of the market value of the collateral Collateral maintained with WLSLCMSHK. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision. 3.5 For the avoidance of doubt, failure by the Client Customer to meet Xxxxxx calls made by WLSL CMSHK by the time prescribed by WLSL CMSHK or otherwise or any other accounts payable hereunder shall give WLSL CMSHK the right (without prejudice lo to its other rights) to close the Account and/or to close out any position in the Account (as the case may be) without notice to the Client Customer and to dispose of any or all Securities held for or on behalf of the Client Customer and to apply the proceeds and any cash deposit(s) to pay WLSL CMSHK all outstanding balances owing to WLSL any CMSHK. Any monies remaining after that application shall be refunded to the ClientCustomer. 3.6 Nothing in this Agreement shall be construed as taking away or affecting any lawful claim, lien or other rights and remedies which WLSL CMSHK may have in respect of any money held in any bank account pursuant to Clause 11.2 of the main body of this Agreement or in respect of any money received or paid into such bank account. 3.7 For the avoidance of doubt, if a debit balance arises on any of the accounts the Client Customer has with WLSL CMSHK or any of its Group Companies, WLSL CMSHK shall not be, nor shall WLSL CMSHK be deemed to be, obliged to make available or continue to make available any financial accommodation to the ClientCustomer. In particular, but without limitation, the fact that WLSL CMSHK permits a debit balance to arise in any account of the Client Customer with WLSL CMSHK shall not imply any obligation on the part of WLSL CMSHK to advance monies or incur any obligation on the ClientCustomer’s behalf on any subsequent occasion, but without prejudice to the obligations of the Client Customer in respect of any debit balance which WLSL CMSHK does permit to arise.

Margin. 3.1 The Client Customer agrees to maintain such Margin and shall on demand pay such additional Margin by means of cash, securities or in such form and/or amounts and within such time as may be determined by WLSL CMSHK to be payable by the Client Customer or by WLSL CMSHK on the ClientCustomer’s behalf in respect of such Margin or any other payment in connection with any Transaction under the terms of this Agreement. 3.2 Without limiting the generality of Clause 29.2 of the main body of this Agreement, the time for payment of any Margin is of the essence. The Client Customer also agrees to pay immediately in full and on demand any amount owing with respect to any of the ClientCustomer’s accounts with WLSLCMSHK. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as WLSL CMSHK may in its sole discretion require. 3.3 Notwithstanding Clause 3.1, in the event that it is, in the sole opinion of WLSLCMSHK, impracticable for WLSL CMSHK to make demands for additional Margin pursuant to Clause 3.1, including but without limitation, if the impracticably impracticability is due to a change or development involving a prospective change: 3.3.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of WLSL CMSHK likely to result in a material or adverse fluctuation in the stock market, currency market, commodities or futures market in Hong Kong and/or overseas; or 3.3.2 which is or may be of a material adverse nature affecting the condition or operations of the ClientCustomer, WLSL CMSHK shall be deemed to have made Margin calls for such form and/or amounts as WLSL CMSHK may determine and such Margin shall become immediately due and payable by the ClientCustomer. 3.4 WLSL CMSHK shall be entitled to revise the Margin requirements from time to time in its absolute discretion. The Client Customer shall be granted financial accommodation of up to such percentage as may be agreed from time to time of the market value of the collateral Collateral maintained with WLSLCMSHK. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision. 3.5 For the avoidance of doubt, failure by the Client Customer to meet Xxxxxx Margin calls made by WLSL CMSHK by the time prescribed by WLSL CMSHK or otherwise or any other accounts payable hereunder shall give WLSL CMSHK the right (without prejudice lo to its other rights) to close the Account and/or to close out any position in the Account (as the case may be) without notice to the Client Customer and to dispose of any or all Securities held for or on behalf of the Client Customer and to apply the proceeds and any cash deposit(s) to pay WLSL CMSHK all outstanding balances owing to WLSL any CMSHK. Any monies remaining after that application shall be refunded to the ClientCustomer. 3.6 Nothing in this Agreement shall be construed as taking away or affecting any lawful claim, lien or other rights and remedies which WLSL CMSHK may have in respect of any money held in any bank account pursuant to Clause 11.2 of the main body of this Agreement or in respect of any money received or paid into such bank account. 3.7 For the avoidance of doubt, if a debit balance arises on any of the accounts the Client Customer has with WLSL CMSHK or any of its Group Companies, WLSL CMSHK shall not be, nor shall WLSL CMSHK be deemed to be, obliged to make available or continue to make available any financial accommodation to the ClientCustomer. In particular, but without limitation, the fact that WLSL CMSHK permits a debit balance to arise in any account of the Client Customer with WLSL CMSHK shall not imply any obligation on the part of WLSL CMSHK to advance monies or incur any obligation on the ClientCustomer’s behalf on any subsequent occasion, but without prejudice to the obligations of the Client Customer in respect of any debit balance which WLSL CMSHK does permit to arise.

Margin. 3.1 The Client agrees to maintain such Margin and shall on demand pay such additional Margin by means of cash, securities or in such form and/or amounts and within such time as may be determined by WLSL WLIS to be payable by the Client or by WLSL WLIS on the Client’s behalf in respect of such Margin or any other payment in connection with any Transaction under the terms of this Agreement. 3.2 Without limiting the generality of the main body of this Agreement, the time for payment of any Margin is of the essence. The Client also agrees to pay immediately in full and on demand any amount owing with respect to any of the Client’s accounts with WLSLXXXX. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as WLSL WLIS may in its sole discretion require. 3.3 Notwithstanding Clause 3.1, in the event that it is, in the sole opinion of WLSLWLIS, impracticable for WLSL WLIS to make demands for additional Margin pursuant to Clause 3.1, including but without limitation, if the impracticably is due to a change or development involving a prospective change: 3.3.1 in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of WLSL WLIS likely to result in a material or adverse fluctuation in the stock market, currency market, commodities or futures market in Hong Kong and/or overseas; or 3.3.2 which is or may be of a material adverse nature affecting the condition or operations of the Client, WLSL WLIS shall be deemed to have made Margin calls for such form and/or amounts as WLSL WLIS may determine and such Margin shall become immediately due and payable by the Client. 3.4 WLSL WLIS shall be entitled to revise the Margin requirements from time to time in its absolute discretion. The Client shall be granted financial accommodation of up to such percentage as may be agreed from time to time of the market value of the collateral maintained with WLSLWLIS. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision. 3.5 For the avoidance of doubt, failure by the Client to meet Xxxxxx calls made by WLSL WLIS by the time prescribed by WLSL WLIS or otherwise or any other accounts payable hereunder shall give WLSL WLIS the right (without prejudice lo other rights) to close the Account and/or to close out any position in the Account (as the case may be) without notice to the Client and to dispose of any or all Securities held for or on behalf of the Client and to apply the proceeds and any cash deposit(s) to pay WLSL WLIS all outstanding balances owing to WLSL WLIS any monies remaining after that application shall be refunded to the Client. 3.6 Nothing in this Agreement shall be construed as taking away or affecting any lawful claim, lien or other rights and remedies which WLSL WLIS may have in respect of any money held in any bank account pursuant to the main body of this Agreement or in respect of any money received or paid into such bank account. 3.7 For the avoidance of doubt, if a debit balance arises on any of the accounts the Client has with WLSL WLIS or any of its Group Companies, WLSL WLIS shall not be, nor shall WLSL WLIS be deemed to be, obliged to make available or continue to make available any financial accommodation to the Client. In particular, but without limitation, the fact that WLSL WLIS permits a debit balance to arise in any account of the Client with WLSL WLIS shall not imply any obligation on the part of WLSL WLIS to advance monies or incur any obligation on the Client’s behalf on any subsequent occasion, but without prejudice to the obligations of the Client in respect of any debit balance which WLSL WLIS does permit to arise.