Rights regarding margin requirements Clause Samples
Rights regarding margin requirements. 30.3.1 Between the time after uSMART SG has issued a Margin Alert/Notification, uSMART SG is entitled (i) to exercise any of its rights under Clause 35 (Set-off and Lien) and this Clause 30.3 without notice to the Client, and (ii) to refuse to carry out any of the Client’s Instructions relating to the Margin Account or any dealing in Securities except that Client will be allowed to sell existing Securities to reduce positions in the Client’s Margin Account. In any event, the Client understand and accept that any Margin Alert/Notification given by uSMART SG shall not be considered a waiver of uSMART SG’s rights to apply your Collateral (including Charged Securities) hereunder, nor is uSMART SG bound by such prior Margin Alert/Notification to forestall the exercise of any such rights. Even if uSMART SG has notified the Client and provided a specific date or time by which the Client is required to meet a Margin Alert/Notification, uSMART SG can still take necessary steps to protect its financial interests before such specified date.
30.3.2 The Client acknowledges, accepts and agrees that uSMART SG has the right, with or without notice to the Client, to select all, any, or which of the Collateral (including Charged Securities) to be sold or disposed of, including the right to sell or dispose of more quantity of the Collateral (including Charged Securities) than is necessary to reduce the Loan not exceeding the Margin Limit. uSMART SG also has the right to sell or dispose of the Collateral (including Charged Securities) at any time and on any terms as it considers appropriate. uSMART SG shall not be liable to the Client for any Losses that may be sustained or incurred, whether directly or indirectly, as a result of or in connection with any such sale or disposal. The Client has no right or claim against uSMART SG for not selling or disposing of any Collateral (including Charged Securities) at a better price or time.
30.3.3 uSMART SG will deposit at its discretion any proceeds resulting from the sale, realisation, redemption, liquidation, or disposal of the Collateral (including Charged Securities) in the Margin Account in reduction of the Loan until the Loan has been repaid in full or does not exceed the Margin Limit.
30.3.4 The Client is advised to refer to the document relating to margin trading and risk management prepared by uSMART SG, as amended or supplemented from time to time, which is available and published on uSMART SG’s website.
Rights regarding margin requirements. 29.3.1 Between the time after USPL has given a Margin Call and before that Margin Call has been met to the satisfaction of USPL, USPL is entitled (i) to exercise any of its rights under Clause 34 (Set-off and Lien) and this Clause 29.3 without notice to the Client, and (ii) to refuse to carry out any of the Client’s Instructions relating to the Margin Account or any dealing in Securities.
29.3.2 If the following (or any of them) occur at any time, USPL is entitled to exercise its rights set out in Clause 29.3.3, whether or not any Margin Call has been made:
(a) USPL determines that the LTV Ratio reaches or exceeds the Margin Ratio, even if (1) such determination is based on USPL’s records that do not reflect the latest transactions in respect of the Margin Account due to the time necessary for updating the records or for clearing the funds, cheques or Securities deposited with USPL, or (2) USPL does not know that a Margin Call has been satisfied; and
(b) USPL considers, in good faith, that the market conditions are likely to expose investors to unacceptable risk or heavy losses, including unstable, unfavourable, and abnormal market conditions.
29.3.3 USPL may (but has no obligation to) do the following (or any of them) without demand, notice, legal process or other action as it considers appropriate at any time upon occurrence of any event specified in Clause 29.3.2:
(a) reduce or terminate the Margin Facility;
(b) cancel or modify the outstanding Instructions; and
(c) sell, realise, redeem, liquidate, or dispose in any other manner all or any of the Collateral in the relevant market or by private contract, and on such terms as USPL in its absolute discretion considers appropriate, free from any claim, right of redemption, equity or other right or interest that the Client may have.
29.3.4 USPL has the right to select all, any, or which of the Collateral (including Charged Securities) to be sold or disposed of, including the right to sell or dispose of more quantity of the Collateral (including Charged Securities) than is necessary to reduce the Loan not exceeding the Margin Limit. USPL also has the right to sell or dispose of the Collateral (including Charged Securities) at any time and on any terms as it considers appropriate. USPL shall not be liable to the Client for any loss, damage or expense of any kind which the Client or any other person may incur or suffer arising from or in connection with any such sale or disposal. The Client has no right or cla...