Common use of ORIGINAL AND VARIATION MARGIN; PREMIUMS; OTHER CONTRACT OBLIGATIONS Clause in Contracts

ORIGINAL AND VARIATION MARGIN; PREMIUMS; OTHER CONTRACT OBLIGATIONS. Customer shall perform all obligations attendant to transactions in Contracts for the Account and shall make, or cause to be made, all applicable original margin, variation margin, intra-day margin and premium payments, in such amount, form and subject to such valuation mechanics, as may be required by Applicable Law or by Xxxxxx Xxxxxxx. Requests for margin deposits and/or premium payments may, at Xxxxxx Xxxxxxx’x election, be communicated to Customer orally, telephonically or in writing. Customer agrees that Collateral deposited as margin in respect of transactions in the Account shall at all times comply with requirements under Applicable Law relating to the form and valuation of such Collateral. For the avoidance of doubt, a statement of margin or premium due set forth on Customer’s daily confirmation of trading activity shall constitute a demand for such margin or premium for the purposes of this Section 6(e). Customer margin deposits and/or premium payments shall be made by wire transfer in accordance with Xxxxxx Xxxxxxx’x instructions to Customer’s segregated account, secured amount account, sequestered account or cleared swap account, as required under Applicable Law, and shall be in U.S. dollars unless Xxxxxx Xxxxxxx agrees otherwise in writing. In connection with any Customer instruction at any time to Xxxxxx Xxxxxxx to (i) satisfy any margin requirement arising under this Section 6(e) of this Agreement by means of a transfer of available funds or securities held in a Xxxxxx Xxxxxxx securities margin account or (ii) transfer available excess equity out of the Account to any such securities margin account, Customer acknowledges and agrees that funds and Collateral (as defined below) carried in and for the Account, as well as all Contracts carried in and for the Account (I) are not subject to or afforded protection under Securities and Exchange Commission (“SEC”) Rules 8c-1, 15c2-1, 15c3-2 or 15c3-3 and (II) in the event of Xxxxxx Xxxxxxx’x bankruptcy or insolvency, will not be afforded protection under the Securities Investor Protection Act of 1970, as amended (“SIPA”), except and only to the extent that the commodity broker liquidation provisions of chapter 7 of title 11 of the United States Code and Part 190 of the CFTC Regulations may apply in the context of a liquidation proceeding under SIPA.

ORIGINAL AND VARIATION MARGIN; PREMIUMS; OTHER CONTRACT OBLIGATIONS. Customer shall perform all obligations attendant to transactions in Contracts for the Account and shall make, or cause to be made, all applicable original margin, variation margin, intra-day margin and premium payments, in such amount, form and subject to such valuation mechanics, as may be required by Applicable Law or by Xxxxxx Xxxxxxx. Requests for margin deposits and/or premium payments may, at Xxxxxx Xxxxxxx’x election, shall be communicated to Customer orallyin writing (including electronic mail); provided that Xxxxxx Xxxxxxx reserves the right, telephonically or in writing. Customer agrees that Collateral deposited as margin in respect of transactions in the Account shall at all times comply with requirements under Applicable Law relating event that Customer cannot be contacted by electronic means (after a commercially reasonable attempt to the form and valuation of contact Customer by electronic means), to communicate such Collateralrequests orally or telephonically. For the avoidance of doubt, a statement of margin or premium due set forth on Customer’s daily confirmation of trading activity shall constitute a demand for such margin or premium for the purposes of this Section 6(e). Customer margin deposits and/or premium payments shall be made by wire transfer in accordance with Xxxxxx Xxxxxxx’x instructions to Customer’s Customer segregated account, secured amount account, sequestered account or cleared swap account, as required under Applicable Law, and shall be in U.S. dollars unless Xxxxxx Xxxxxxx agrees otherwise in writing. In connection with any Customer instruction at any time to Xxxxxx Xxxxxxx to (i) satisfy any margin requirement arising under this Section 6(e) of or this Agreement by means of a transfer of available funds or securities held in a Xxxxxx Xxxxxxx securities margin account or (ii) transfer available excess equity out of the Account to any such securities margin account, Customer acknowledges and agrees that funds and Collateral (as defined below) carried in and for the Account, as well as all Contracts carried in and for the Account (I) are not subject to or afforded protection under Securities and Exchange Commission (“SEC”) SEC Rules 8c-1, 15c2-1, 15c3-2 or 15c3-3 and (II) in the event of Xxxxxx Xxxxxxx’x bankruptcy or insolvency, will not be afforded protection under the Securities Investor Protection Act of 19701970 and, as amended (“SIPA”)instead, except and only Customer’s rights shall be determined pursuant to the extent that the commodity broker liquidation provisions of chapter 7 of title 11 of the United States Bankruptcy Code and Part 190 of the CFTC Regulations may apply Regulations. Interest on such funds held in segregated or secured accounts (or other accounts to the context of a liquidation proceeding under SIPAextent consented to by Ceres) shall be paid by Xxxxxx Xxxxxxx to Customer, at rates agreed from time to time between the parties.