Common use of Method of Determining the Debit Balance Clause in Contracts

Method of Determining the Debit Balance. If you have established a Margin Account with CSFB, you may purchase securities on margin and may sell securities you do not own (you may also sell short against the “Box”), contingent upon your prompt deposit of sufficient cash and/or securities to enable you and CSFB to comply with the margin requirements of the Federal Reserve Board, the New York Stock Exchange, Inc. and other securities regulatory or self-regulatory body having jurisdiction. The difference between the aggregate transaction price and the amount you are required to deposit represents your debit balance. Credit is extended to you by CSFB to the extent that it must pay the party from whom you have purchased securities, the difference between the aggregate purchase price and the amount you have deposited or, alternatively, the amount CSFB must pay in those instances when CSFB is required to borrow securities to effect delivery to the purchaser in a transaction where you have sold such securities short (or short against the “Box”).

Appears in 3 contracts

Samples: Customer Agreement (CNF Inc), Relational Investors LLC, Relational Investors LLC

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Method of Determining the Debit Balance. If you have established a Margin Account with CSFBCSSU, you may purchase securities on margin and may sell securities you do not own (you may also sell short against the “Box”), contingent upon your prompt deposit of sufficient cash and/or eligible securities to enable you and CSFB CSSU to comply with the margin requirements of the Federal Reserve Board, the New York Stock Exchange, Inc. Inc, and other securities regulatory or self-regulatory body having jurisdiction. The difference between the aggregate transaction price and the amount you are required to deposit represents your debit balance. Credit is extended to you by CSFB CSSU to the extent that it must pay the party from whom you have purchased securities, the difference between the aggregate purchase price and the amount you have deposited or, alternatively, the amount CSFB CSSU must pay in those instances when CSFB CSSU is required to borrow securities to effect delivery to the purchaser in a transaction where you have sold such securities short (or short against the “Box”).

Appears in 1 contract

Samples: Special Custody Account Agreement (Cushing MLP Total Return Fund)

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