Return of Variation Margin. If the unrealized loss of all open Orders with AFEX by Client falls below the Variation Margin requirements established elsewhere in this Agreement, based on AFEX’s computation on any Business Day, then Client may request that AFEX return to it the difference between the unrealized loss of all open Orders and the Variation Margin held by AFEX on that Business Day. Any such request must be made, in writing, before 12 p.m., AFEX Local Time, on the same Business Day, and AFEX will process the request on the Business Day on which it was made and the surplus Variation Margin will be returned in a timely manner. Any request made after 12 p.m., AFEX Local Time, will be processed by AFEX the following Business Day and the surplus Variation Margin will be returned to Client in a timely manner.
Return of Variation Margin. If the unrealised loss of all open Orders with AFEX by Client falls below the Variation Margin requirements established elsewhere in this Agreement, based on AFEX’s Associated Foreign Exchange Australia Pty Ltd ABN: 85 119 392 586 ACN: 119 392 586 Page 3 of 7 Level 38, Citigroup Centre, 0 Xxxx Xxxxxx, Xxxxx X, Xxxxxx, XXX 0000 T +00 (0)0 0000 0000 F +00 (0)0 0000 0000 Xxxxx 00, 00 Xxxxxxx Xxxxxx, Melbourne, VIC 3000 T +00 (0)0 0000 0000 F +00 (0)0 0000 0000 Xxxxx 00, Xxxxxxxxx Xxxxxx, 00 Xx Xxxxxxx Xxxxxxx, Xxxxx, XX 0000 T +00 (0)0 0000 0000 F +00 (0)0 0000 0000 computation on any Business Day, then Client may request that AFEX return to it the difference between the unrealised loss of all open Orders and the Variation Margin held by AFEX on that Business Day. Any such request must be made, in writing, before 12 p.m., AFEX Local Time, on the same Business Day, and AFEX will process the request on the Business Day on which it was made and the surplus Variation Margin will be returned in a timely manner. Any request made after 12 p.m., AFEX Local Time, will be processed by AFEX the following Business Day and the surplus Variation Margin will be returned to Client in a timely manner.
Return of Variation Margin. If the unrealised loss of all open Forward Contracts with AFEX by Client falls below the Variation Margin requirements established elsewhere in this Agreement, based on AFEX’s computation on any Business Day, then Client may request that AFEX return to it the difference between the amount(s) held on that Business Day. Any such request must be made, in writing, before 12.00 p.m., AFEX Local Time, on the same Business Day, and AFEX will process the request on the Business Day on which it was made and the surplus Variation Margin will be returned in a timely manner. Any request made after 12.00 p.m., AFEX Local Time, will be processed by AFEX the following Business Day and the surplus Variation Margin will be returned to Client in a timely manner.
Return of Variation Margin. If the unrealized loss of all open Orders with AFEX by Client falls below the Variation Margin requirements established elsewhere in this Agreement, based on AFEX’s computation on any Business Day, then Client may request that AFEX return to it the difference between the unrealized loss of all open Orders and the Variation Margin held by AFEX on that Business Day. Any such request must be made, in writing, before 12 p.m., AFEX Local Time, on the same Business Day, and AFEX will process the request on the Business Day on which it was made and the surplus Variation Margin will be returned in a timely manner. Any request made after 12 p.m., AFEX Local Time, will be processed by AFEX the following Business Day and the surplus Variation Margin will be returned to Client in a timely manner. Purpose of Initial Margin. Initial Margin is intended to maintain the relative value of the funds to be purchased from or sold to AFEX pursuant to an Option or Forward Contract or to address, in AFEX’s sole discretion, an adverse change in Client’s financial standing and/or credit worthiness or an adverse change in the external economic environment. Client acknowledges and agrees that the amount of Initial Margin will be determined by AFEX in its sole and reasonable discretion, subject to the total of any such payments being less than or equal to the total payment obligation owed to AFEX with respect to the relevant Option or Forward Contract, and that AFEX may require Initial Margin to be made even if AFEX has provided Client with a Facility. Any Initial Margin delivered by Client and received by AFEX are non-refundable and will be applied to satisfy Client’s total payment obligation owed to AFEX with respect to the relevant Option Contract or Forward Contract on the Value Date or on the date of any final Draw Down or any other amount permitted by this Agreement.
Return of Variation Margin. If the unrealised loss of all open Transactions with Argentex by Client (based on Argentex’s computation on any Business Day) falls below the Variation Margin held by Argentex, or if there is an unrealised gain on all open Transactions with Argentex by the Client, then Client may request that Argentex return to it the difference between the unrealised loss of all open Transactions and the Variation Margin held by Argentex, or the amount of the unrealised gain, on the next Business Day, and upon such payment to the Client, shall cease to be credit support
