Common use of TERMINATION OF MARGIN FACILITY Clause in Contracts

TERMINATION OF MARGIN FACILITY. 11.1 The Margin Facility is repayable on demand and may be varied or terminated in the absolute discretion of GTJAS. In particular, the Margin Facility will be terminated upon the occurrence of any one or more of the following events:- (a) the withdrawal or non-renewal of the Client’s authorisation to GTJAS as required by Section 7(2) of Securities & Futures (Client Securities) Rules (Cap.571H); or (b) any termination in accordance with Clause 13.12 of the Client Agreement for Securities Trading, and any notice of termination for that purpose shall be deemed to be a notice of termination of the Margin Facility. 11.2 Upon termination of the Margin Facility, any outstanding indebtedness by the Client shall forthwith be repaid to GTJAS. 11.3 Repayment of all or any of the loan amounts owed to GTJAS will not of itself constitute cancellation or termination of the Margin Facility Terms. 11.4 Suspension or termination of services under the Margin Account (a) GTJAS has the right to suspend or terminate all or any of the services under the Margin Account with or without giving the Client notice or reason (b) Without limiting or reducing the effect of Clause 11.1 or Clause 11.4 (a), if any Event of Default occurs, GTJAS has the right to terminate the services under the Margin Account and close the Margin Account with immediate effect and without notice to the Client.

TERMINATION OF MARGIN FACILITY. 11.1 The Margin Facility is repayable on demand and may be varied or terminated in the absolute discretion of GTJAS. In particular, the Margin Facility will be terminated upon the occurrence of any one or more of the following events:- (a) the withdrawal or non-renewal of the Client’s authorisation to GTJAS as required by Section 7(2) of Securities & Futures (Client Securities) Rules (Cap.571H); or (b) any termination in accordance with Clause 13.12 13.11 of the Client Agreement for Securities Trading, and any notice of termination for that purpose shall be deemed to be a notice of termination of the Margin Facility. 11.2 Upon termination of the Margin Facility, any outstanding indebtedness by the Client shall forthwith be repaid to GTJAS. 11.3 Repayment of all or any of the loan amounts owed to GTJAS will not of itself constitute cancellation or termination of the Margin Facility Terms. 11.4 Suspension or termination of services under the Margin Account (a) GTJAS has the right to suspend or terminate all or any of the services under the Margin Account with or without giving the Client notice or reason (b) Without limiting or reducing the effect of Clause 11.1 or Clause 11.4 (a), if any Event of Default occurs, GTJAS has the right to terminate the services under the Margin Account and close the Margin Account with immediate effect and without notice to the Client.