Common use of Participant Rights Clause in Contracts

Participant Rights. 2.1.1 Where the Participant Sponsored Holder authorises the Participant to buy Financial Products, the Participant Sponsored Holder will pay for those financial products within two Business Days (T+2) of the date of purchase or as advise otherwise from time to time. 2.1.2 Subject to Clause 2.1.3, the Participant is not obliged to Transfer Financial Products into the Participant Sponsored Holding, where payment for those Financial Products has not been received, until payment is received. 2.1.3 Where a contract for the purchase of Financial Products remains unpaid, after the Participant has made a demand of the Participant Sponsored Holder to pay for the Financial Products, the Participant may sell those Financial Products that are the subject of that contract at the Participant Sponsored Holder’s risk and expense and that expense will include brokerage and stamp duty. 2.1.4 Where the Participant claims that an amount lawfully owed to it has not been paid by the Participant Sponsored Holder, the Participant has the right to refuse to comply with the Participant Sponsored Holder’s Withdrawal Instructions, but only to the extent necessary to retain financial products of the minimum value held in a Participant Sponsored Holding (where the minimum value is equal to 120% of the current market value of the amount claimed).

Participant Rights. 2.1.1 Where the Participant Sponsored Holder authorises the Participant to buy Financial Products, the Participant Sponsored Holder will pay for those financial products Financial Products within two (2) Business Days (T+2) of the date of purchase or as advise otherwise from time to timepurchase. 2.1.2 Subject to Clause 2.1.3, 2.1.3 the Participant is not obliged to Transfer transfer Financial Products into the Participant Sponsored Holding, where payment for those Financial Products has not been received, until payment is received. 2.1.3 Where a contract for the purchase of Financial Products remains unpaid, a reasonable time after the Participant has made a demand of the Participant Sponsored Holder to pay for the Financial Products, the Participant may sell those Financial Products that are the subject of that contract at the Participant Sponsored Holder’s risk and expense and that expense will include brokerage brokerage, GST and stamp dutyduty (if applicable). 2.1.4 Where the Participant claims that an amount lawfully owed to it has not been paid by the Participant Sponsored Holder, the Participant acting reasonably has the right to refuse to comply with the Participant Sponsored Holder’s Withdrawal Instructions, but only to the extent necessary to retain financial products Financial Products of the minimum value held in a Participant Sponsored Holding (where the minimum value is equal to 120% of the current market value of the amount claimed).