Common use of MARGINS AND DEPOSIT REQUIREMENTS Clause in Contracts

MARGINS AND DEPOSIT REQUIREMENTS. Customer shall provide to and maintain with GFX margin in such amounts and in such forms as GFX, in its sole discretion, may require. Such margin requirements may be greater or less than margins required by a counter party bank. GFX may change margin requirements at any time. Customer agrees to deposit by immediate wire transfer, or other payment method acceptable to GFX, such additional margin when and as required by GFX and will promptly meet all margin calls in such mode of transmission as GFX in its sole discretion designates. GFX may at any time proceed to liquidate Customer’s account and any failure by GFX to enforce its rights hereunder shall not be deemed a waiver by GFX to enforce its rights thereafter. GFX retains the right to limit the amount and/or total number of open positions which Customer may acquire or maintain at GFX, and to increase margin requirements in advance of earnings or other news or events, with or without notice, either before such events or retroactively or at any other time that it deems at its sole discretion. GFX will attempt to execute all orders which it may, in its sole discretion, choose to accept in accordance with the oral or written or computer instructions of Customer’s. GFX reserves the right to refuse to accept any order. However, GFX shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control of GFX including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and/or information due to a breakdown in or failure of any transmission or communication facilities. In the event that Customer directs GFX to sell any margin, collateral, contract or other property and GFX is unable to deliver such margin, collateral, contract or other property to a purchaser because Customer fails to deliver it to GFX, GFX may borrow or purchase any margin, collateral, contract or property necessary to make such delivery, and Customer hereby agrees to guarantee and hold GFX harmless against any liability, claim, loss, damage, cost or expense, including attorneys’ fees that GFX may sustain.