Short Sale Orders Sample Clauses
Short Sale Orders. 9.1 Applicable laws or regulations may require you or Mirabaud to comply with specific requirements in relation to short sale executions. You shall not give Mirabaud a short sale order the execution of which may contravene applicable laws or regulations either by yourself or Mirabaud, and Mirabaud reserve the right to reject short sale orders that cannot be executed in compliance with those rules. Mirabaud may also reject any other order in our reasonable discretion. If you place a short sale order with Mirabaud, you are required to identify that order to Mirabaud as a short sale at the time of placing the order and to make an affirmative determination that Mirabaud will receive delivery of the security by settlement date. Failure to do so may result in our rejecting or cancelling the order or execution or incurring other damages for which you shall be liable in accordance with these Terms.
Short Sale Orders. 1. IBA does not permit you to maintain a long and short position in a particular share concurrently in the same Account. Accordingly, when you create a sell Order in respect of particular share(s) (i) we will first sell any existing shares we hold for you, if any, and (ii) you will then be taken to have made a Borrow Request for the number of shares required to cover the Anticipated Short Sale in order to complete the sell Order and (iii) we will treat the Anticipated Short Sale as a Short Sale Order.