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.

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