Common use of Special Custody Account Operation Clause in Contracts

Special Custody Account Operation. Client agrees to pay On Demand and satisfy all margin and maintenance calls and pay all interest charges in accordance with this Agreement or as otherwise in accordance with Pershing's usual custom for similarly situated clients, with respect to Client's Special Custody Account. Pershing may, in its discretion, require Client to (a) deliver collateral to the Special Custody Account to the extent necessary (i) to maintain margin as required by Pershing in accordance with Appendix A to this Agreement and (ii) to secure Client's performance of any obligations due to Pershing hereunder or (b) pay any amount that may become due hereunder in order to meet requests for additional deposits or "marks to market" for any transactions, including transactions involving foreign exchange and unissued securities that Client may purchase or sell. The parties acknowledge that the cash loans provided hereunder are each a "margin loan" as used in the definition of "securities contract" in the United States Bankruptcy Code (11 U.S.C. Section 741).

Special Custody Account Operation. Client agrees to pay On Demand and satisfy all margin and maintenance calls and pay all interest charges in accordance with this Agreement or as otherwise in accordance with Pershing's ’s usual custom for similarly situated clients, with respect to Client's ’s Special Custody Account. Pershing may, in its discretion, require Client to (a) deliver collateral to the Special Custody Account to the extent necessary (i) to maintain margin as required by Pershing in accordance with Appendix A to this Agreement and (ii) to secure Client's ’s performance of any obligations due to Pershing hereunder or (b) pay any amount that may become due hereunder in order to meet requests for additional deposits or "“marks to market" ” for any transactions, including transactions involving foreign exchange and unissued securities that Client may purchase or sell. The parties acknowledge that the cash loans provided hereunder are each a "“margin loan" ” as used in the definition of "“securities contract" ” in the United States Bankruptcy Code (11 U.S.C. Section 741).

Special Custody Account Operation. Client agrees to pay On Demand and satisfy all margin and maintenance calls and pay all interest charges in accordance with this Agreement or as otherwise in accordance with Pershing's ’s usual custom for similarly situated clients, with respect to Client's ’s Special Custody Account. Pershing may, in its discretion, require Client to (a) deliver collateral to the Special Custody Account to the extent necessary (i) to maintain margin as required by Pershing in accordance with Appendix A to this Agreement and (ii) to secure Client's ’s performance of any obligations due to Pershing hereunder or (b) pay any amount that may become due hereunder in order to meet requests for additional deposits or "“marks to market" ” for any transactions, including transactions involving foreign exchange and unissued securities that Client client may purchase or sell. The parties acknowledge that the cash loans provided hereunder are each a "“margin loan" ” as used in the definition of "“securities contract" ” in the United States Bankruptcy Code (11 U.S.C. Section 741).