Open Short Sales Balance Sample Clauses

Open Short Sales Balance. Broker shall, based on the closing market price on each business day, compute the aggregate net credit or debit balance on Customer's open short sales and advise Customer and/or Customer's designated agent by 11:00 A.M. New York time on the next business day (the "Determination Day") of the amount of the net debit or credit, as the case may be. If a net debit balance exists on the Determination Day, Customer will cause an amount equal to such net debit balance to be paid to Broker by the close of business on the Determination Day. If a net credit balance exists on the Determination Day, Broker will pay such credit balance to Customer by the close of business on the Determination Day. As Customer's open short positions are marked-to-market each business day, payments will be made by or to Customer to reflect changes (if any) in the credit or debit balances. Broker will charge interest on debit balances, and Broker will pay interest on credit balances. Balances will be appropriately adjusted when short sales are closed out.
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Open Short Sales Balance. Broker shall, based on the closing market price on each business day, compute the aggregate net credit or debit balance on Customer’s open short sales and Advise Customer or Customer’s designated agent by 11:00 am New York time on the next business day (each a “Determination Day”) of the amount of the net debit or credit, as the case may be. If a net debit balance exists on a Determination Day, Customer will cause Eligible Assets in an amount equal to such net debit balance to be deposited in a Special Custody Account or paid to Broker by the close of business on such Determination Day. If a net credit balance exists on a Determination Day, Broker will instruct Custodian to release the amount of such net credit from the Special Custody Account to Customer by the close of business on such Determination Day. As Customer’s open short positions are marked to market each business day, payments will be made to or from the Special Custody Account, by or to Customer, to reflect changes (if any) in the credit or debit balances. To the extent payments are not made as aforesaid, Broker will charge interest on debit balances and pay interest on credit balances. Balances will be appropriately adjusted when short sales are closed out.
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Open Short Sales Balance. Broker shall, based on the closing market price on each business day, compute the aggregate net credit or debit balance on Customer's open short sales and advise Customer and/or Customer's designated agent by 11:00 A.M. New York time on the next business day (each a "Determination Day") of the amount of the net debit or credit, as the case may be. If a net debit balance exists on a Determination Day, Customer will cause an amount equal to such net debit balance to be pledged to Broker as Collateral in the Special Custody Account by the close of business on such Determination Day. If a net credit balance exists on a Determination Day, Broker will return Collateral in accordance with Section 2 (e).
Sample 1
Open Short Sales Balance. Broker shall, based on the closing market price on each business day, compute the aggregate net credit or debit balance on Customer's open short sales and Advise Customer by 11:00 A.M. New York time on the next business day (each a "Determination Day") of the amount of the net debit or credit, as the case may be. If Broker has provided such Advice to Customer, Customer will cause Collateral (other than cash) in an amount equal to such net debit balance to be paid to the Special Custody Account by the close of business on such Determination Day (it being understood that the market value of all Collateral shall be determined by Broker in its sole discretion). If a net credit balance exists on a Determination Day, Broker will pay such credit balance to Customer by the close of business on such Determination Day. As Customer's open short positions are marked to market each business day, payments will be made by or to Customer to reflect changes (if any) in the credit or debit balances. To the extent payments are not made as aforesaid, Broker will charge interest on debit balances and pay interest on credit balances. Balances will be appropriately adjusted when short sales are closed out.
Sample 1
Open Short Sales Balance. Broker shall, from time to time, compute the aggregate net credit or debit balance on Customer’s open short sales and advise Customer by 11:00 a.m. New York time of the amount of the net debit or credit, as the case may be. If a net debit balance exists on such day, Customer will cause an amount equal to such net debit balance to be deposited as Collateral in the Special Custody Account by the close of business on such day. If a net credit balance exists on such day, Broker will pay interest on such credit balance at a rate agreed upon by Broker and Customer. Broker will pay interest on short credit balances at rates agreed upon by Broker and Customer. Balances will be appropriately adjusted when short sales are closed out.
Sample 1
Open Short Sales Balance. Broker shall, based on the closing market price on each business day, compute the aggregate net credit or debit balance on Customer's open short sales and advise Customer and/or Customer's designated agent by 11:00 A.M. New York time on the next business day (each a "Determination Day"), of the amount of the net debit or credit, as the case may be. If a net debit balance exists on a Determination Day, Customer will cause an amount equal to such net debit balance to be paid to Broker by the close of
Sample 1

Related to Open Short Sales Balance

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  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Closing Date Balance Sheet The Buyer shall cause the Company to provide Sellers' Accountants with full and complete access to the books and records of the Company and to otherwise cooperate with and assist Sellers' Accountants in the preparation of the Closing Date Balance Sheet. Unless Buyer, within thirty (30) days after delivery of the Closing Date Balance Sheet, notifies Sellers' Representative in writing that Buyer objects to the determination of the Closing Date Stockholders' Equity, as reflected on the Closing Date Balance Sheet, and specifies the basis for such objection, which objection shall not include any dispute relating to or arising out of the Environmental Remediation Accrual or the Deferred Compensation Accrual, and the amount or amounts in dispute, the Closing Date Balance Sheet shall become final and binding upon the parties for purposes of this Agreement as of the day following the end of such thirty (30) day period, which shall be the Closing Date Balance Sheet Determination Date. If Buyer notifies Sellers' Representative of its objection, and if Sellers and Buyer, together with their respective advisors, are unable to resolve any such objections within fifteen (15) days after any such notice has been given, the dispute shall be submitted to the Accounting Firm, which shall be instructed to resolve the dispute expeditiously. The Accounting Firm shall make a final binding determination as to the matter or matters in dispute, and the date of such determination shall be the Closing Date Balance Sheet Determination Date. Buyer agrees to cooperate, and agrees to cause the Company to cooperate, with Sellers (and Sellers' authorized representatives), and Sellers agree to cooperate with Buyer and the Company (and their respective authorized representatives), in order to resolve any and all matters in dispute as soon as reasonably possible. The Sellers shall pay the fees, costs and expenses of the Sellers Accountants. Buyer shall pay the fees, costs and expenses of the Accounting Firm, unless the difference between (x) the proposed Closing Date Stockholders' Equity included on the Closing Date Balance Sheet delivered by the Sellers and (y) the determination by the Accounting Firm of the Closing Date Stockholders' Equity results in a reduction to the Purchase Price under Section 3.3.2 hereof, in which case the fees, costs and expenses of the Accounting Firm shall be paid by the Sellers.

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  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

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  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Pro Forma Balance Sheet The Administrative Agent shall have received the Pro Forma Balance Sheet in form and substance satisfactory to the Administrative Agent and the Required Lenders;

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

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