Common use of TERMS FOR NEW LISTING OF SECURITIES Clause in Contracts

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's behalf for the Client's benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 2 contracts

Samples: Client Agreement Securities Trading, Client Agreement Securities Trading

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TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the The Broker to complete such application form as may be required, and represents and warrants to the The Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (Aa) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (Bb) authorises the The Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (Cc) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (Dd) acknowledges that the The Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the The Broker on behalf of the The Broker, the Client and/or Broker's The Broker other clients, the Client acknowledges and agrees: (Aa) that if such bulk application may be rejected for reasons which are unrelated to the Client, the The Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (Bb) to indemnify the The Broker in accordance with Clause 10.2 of the General below Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client: (i) The Client agrees to indemnify the Relevant Persons against and hold the Relevant Persons harmless from all expenses, liabilities, claims and demands arising out of the following, in the absence of bad faith or wilful default of or by the Relevant Persons: (a) anything lawfully done or omitted to be done by the Relevant Persons in connection with this Agreement; or (b) any breach by the Client of its obligations under this Agreement. 2.4 The Client may at the same time request the The Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (Aa) The Broker has discretion to accept or reject the request for the Loan. (Bb) Upon the acceptance of the request for the Loan, the employee or representative of the The Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the The Broker and the Client, which shall be conclusive and binding on the Client. (Cc) Before the provision of the Loan, the Client shall provide the The Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (Dd) Unless contrary to the Agreed Loan Terms: (Ii) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C2.4(c); and (IIii) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (Ee) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (Ff) When the The Broker receives any refund in respect of the Application, the The Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (Gg) In consideration for the The Broker's ’s granting of the Loan to the Client, the Client charges to the The Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the The Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the The Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full. 2.5 Risks & Issues to Pay Attention for Initial Public Offering ("IPO") Margin Financing (a) During IPO, the stock price can be volatile which will be involving certain risks. Before making any investment decision, you should understand the business nature & background of the company. Read the IPO Prospectus and the financial reports. In addition, if oversubscription in the IPO process is lower than expected, investors may be allotted more shares, that required additional fund to be deposited. (b) If there is any overdue balance related to the IPO shares, Magusta Securities Ltd shall charge Hsbc Prime rate + 7% on the outstanding balance. The accrued interest will be debited to client account at each month end date (c) The broker reserves the right to force sell clients’ IPO shares in trade day after listing, in condition that the client is unable to cover the full repayment of the Loan together with the accrued interest. (d) If there is shortfall after disposal of the IPO shares, interest will be charged on outstanding balance according to 2.5(b). Client shall pay the shortfall plus accrued interest ("Total Outstanding Amount"). Magusta Securities Ltd will inform the prevailing interest rate from time to time and the Total Outstanding Amount. Clients must settle the Total Loan Amount immediately once informed by Magusta Securities Ltd. Magusta Securities Ltd reserves the rights to disposal client's portfolio to settle the Total Outstanding Loan. (e) Highly recommended to read the IPO Prospectus when considering a subscription. The following risk disclosure statements are provided pursuant to the Code of Conduct for Persons Registered with the SFC.

Appears in 1 contract

Samples: Securities Cash Trading Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's Xxxxxx’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply:the (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's ’s granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Securities Trading Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the The Broker to complete such application form as may be required, and represents and warrants to the The Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (Aa) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (Bb) authorises the The Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (Cc) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (Dd) acknowledges that the The Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the The Broker on behalf of the The Broker, the Client and/or Broker's The Broker other clients, the Client acknowledges and agrees: (Aa) that if such bulk application may be rejected for reasons which are unrelated to the Client, the The Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (Bb) to indemnify the The Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the The Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (Ai) The Broker has discretion to accept or reject the request for the Loan. (Bii) Upon the acceptance of the request for the Loan, the employee or representative of the The Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the The Broker and the Client, which shall be conclusive and binding on the Client. (Ciii) Before the provision of the Loan, the Client shall provide the The Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (Div) Unless contrary to the Agreed Loan Terms: (Ii) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C2.4(c); and (IIii) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (Ev) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (Fvi) When the The Broker receives any refund in respect of the Application, the The Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Cash Client Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's Xxxxxx’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker Broker, in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Client Master Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's behalf for the Client's benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's Xxxxxx'x other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.. (「申請」)的情況下,本附加條款之條文只對該等帳戶適用。

Appears in 1 contract

Samples: Securities Trading Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the The Broker to complete such application form as may be required, and represents and warrants to the The Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (Aa) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (Bb) authorises the authorizes The Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (Cc) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (Dd) acknowledges that the The Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the The Broker on behalf of the The Broker, the Client and/or Broker's The Broker other clients, the Client acknowledges and agrees: (Aa) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker The Broker, in absence of fraud, gross negligence or wilful willful default, shall not be liable to the Client or any other person in consequence of such rejection; and (Bb) to indemnify the The Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the The Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (Aa) The Broker has discretion to accept or reject the request for the Loan. (Bb) Upon the acceptance of the request for the Loan, the employee or representative of the The Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the The Broker and the Client, which shall be conclusive and binding on the Client. (Cc) Before the provision of the Loan, the Client shall provide the The Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Client Services Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the The Broker to complete such application form as may be required, and represents and warrants to the The Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (Aa) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (Bb) authorises the The Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (Cc) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (Dd) acknowledges that the The Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the The Broker on behalf of the The Broker, the Client and/or Broker's The Broker other clients, the Client acknowledges and agrees: (Aa) that if such bulk application may be rejected for reasons which are unrelated to the Client, the The Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (Bb) to indemnify the The Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the The Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (Aa) The Broker has discretion to accept or reject the request for the Loan. (Bb) Upon the acceptance of the request for the Loan, the employee or representative of the The Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the The Broker and the Client, which shall be conclusive and binding on the Client. (Cc) Before the provision of the Loan, the Client shall provide the The Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (Dd) Unless contrary to the Agreed Loan Terms: (Ii) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C2.4(c); and (IIii) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (Ee) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (Ff) When the The Broker receives any refund in respect of the Application, the The Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Cash / Margin Client Agreement

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TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's behalf for the Client's benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or BrokerXxxxxx's other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Client Agreement Securities Trading

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's ’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Cash Client Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker AIF SEC to complete such application form as may be required, and represents and warrants to the Broker AIF SEC that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker AIF SEC to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker AIF SEC will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker AIF SEC on behalf of the BrokerAIF SEC, the Client and/or Broker's AIF SEC’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker AIF SEC, in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker AIF SEC in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker AIF SEC to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker AIF SEC has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker AIF SEC will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker AIF SEC and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker AIF SEC a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker AIF SEC receives any refund in respect of the Application, the Broker AIF SEC has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's AIF SEC’s granting of the Loan to the Client, the Client charges to the Broker AIF SEC by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker AIF SEC to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker AIF SEC under the Loan so long as the Loan (including interest thereon) has not been repaid in full. Stock indices and other proprietary products upon which contracts traded on Hong Kong Futures Exchange Limited ("Exchange") may by based bay from time to time be developed by the Exchange. The HKFE Taiwan Index is the first of such stock indices developed by the Exchange. The HKFE Taiwan Index and such other Indices or proprietary products as from time to time be developed by the Exchange ("Exchange Indices") are the property of the Exchange. The process of compilation and computation of each of the Exchange Indices is and will be the exclusive property of the proprietary to the Exchange. The process and basis of compilation and computation of the Exchange Indices may at any time be changed or altered by the Exchange without notice and the Exchange may at any time require that trading in and settlement of such futures or options contracts based on any of the Exchange Indices as the Exchange may designate be conducted by reference to an alternative index to be calculated. The Exchange does not warrant or represent or guarantee to any Participant or any third party the accuracy or completeness of any of the Exchange Indices or their compilation and computation or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to any of the Exchange Indices is given or may be implied. Further, no responsibility or liability whatsoever relating to any of the Exchange Indices is given or may be implied. Further no responsibility or liability whatsoever is accepted by the Exchange in respect of the use of any of the Exchange Indices or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspensions, changes or failures (including but not limited to those resulting from negligence) of the Exchange or any other person or persons appointed by the Exchange to compile and compute any of the Exchange Indices in the compilation and computation of any of the Exchange Indices or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Participant or any third party dealing with futures or options contracts based on any of the exchange Indices. No claims, actions or legal proceedings may be brought by any Participant or any third party against the Exchange in connection with or arising out of matters referred to in this disclaimer. Any participant or any third party engages in transactions in futures and options contracts based on any of the Exchange Participant or any third party engages in transactions in futures and options contracts based on any of the Exchange Indices in full knowledge of this disclaimer and can place no reliance on the Exchange in respect of such transactions. Hang Seng Indexes Company Limited ("HSIL") currently publishes, compiles and computes a number of stock indexes and may publish, compile and compute such additional stock indexes at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indexes"). The marks, names and processes of compilation and computation of the respective Hang Seng Indexes are the exclusive property of and proprietary to HSDS. HSIL has granted to the Exchange by way of licence the use of the Hang Seng Indexes solely for the purposes of and in connection with the creation, marketing and trading of futures contracts based on any of the Hang Seng Indexes respectively (collectively, "Futures Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indexes and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSIL without notice and the Exchange may at any time require that trading in and settlement of such of the Futures Contracts as the Exchange may designate be conducted by reference to an alternative index or alternative indexes to be calculated. Neither the Exchange nor HSDS nor HSIL warrants or represents or guarantees to any participant or any third party the accuracy or completeness of the Hang Seng Indexes or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indexes or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Exchange, HSDS or HSIL in respect of the use of the Hang Seng Indexes or any of them for the purposes of and in connection with the Futures Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSIL in the compilation and computation of the Hang Seng Indexes or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any participant or any third party dealing with the Futures Contracts or any of them. No claims, actions or legal proceedings may be brought by any participant or any third party against the Exchange and/or HSDS and/or HSIL in connection with or arising out of matters referred to in this disclaimer. Any participant or any third party deals in the Futures Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Exchange, HSDS and/or HSIL. For the avoidance of doubt, this disclaimer does not create any contractual or quasicontractual relationship between any participant or third party and HSIL and/or HSDS and must not be construed to have created such relationship. Hang Seng Indexes Company Limited ("HSIL") currently publishes, compiles and computes a number of stock indexes and may publish, compile and compute such additional stock indexes at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indexes"). The marks, names and processes of compilation and computation of the respective Hang Seng Indexes are the exclusive property of and proprietary to HSDS. HSIL has granted to the Exchange by way of licence the use of the Hang Seng Indexes solely for the purposes of and in connection with the creation, marketing and trading of Options Contracts based on any of the Hang Seng Indexes respectively (collectively, the "Options Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indexes and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSIL without notice and the Exchange may at any time require that trading in and settlement of such of the Options Contracts as the Exchange may designate be conducted by reference to an alternative index or alternative indexes to be calculated. Neither the Exchange nor HSDS nor HSIL warrants or represents or guarantees to any participant or any third party the accuracy or completeness of the Hang Seng Indexes or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indexes or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Exchange, HSDS or HSIL in respect of the use of the Hang Seng Indexes or any of them for the purposes of and in connection with the Options Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSIL in the compilation and computation of the Hang Seng Indexes or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any participant or any third party dealing with the Options Contracts or any of them. No claims, actions or legal proceedings may be brought by any participant or any third party against the Exchange and/or HSDS and/or HSIL in connection with or arising out of matters referred to in this disclaimer. Any participant or any third party deals in the Options Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Exchange, HSDS and/or HSIL. For the avoidance of doubt, this disclaimer does not create any contractual or quasicontractual relationship between any participant or third party and HSIL and/or HSDS and must not be construed to have created such relationship. (Note: In the event of any difference in interpretation or meaning between the Chinese and English version of this disclaimers, the English version shall be prevailed.)

Appears in 1 contract

Samples: Client Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's Xxxxxx’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker , in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Client Master Agreement

TERMS FOR NEW LISTING OF SECURITIES. 2.1 The Client authorizes the Broker to complete such application form as may be required, and represents and warrants to the Broker that all representations, warranties, confirmations and undertakings on the part of the applicant contained or incorporated in the application form are true and accurate in respect of the Client. 2.2 The Client agrees to be bound by the terms of the new issue and in particular, the Client hereby: (A) warrants and undertakes that the Application shall be the only application made by the Client or on the Client's ’s behalf for the Client's ’s benefit in respect of the same issue of securities and the Client shall make no other application in that issue; (B) authorises the Broker to represent and warrant to SEHK that no other application shall be made or shall be intended to be made by the Client or for the Client's ’s benefit; (C) acknowledges that any application made by an unlisted company which does not carry on any business other than dealing in securities and in respect of which the Client exercises statutory control shall be deemed to be an application made for the benefit of the Client; and (D) acknowledges that the Broker will reply on the above warranties, undertakings and authorizations in making the Application. 2.3 In relation to a bulk application to be made by the Broker on behalf of the Broker, the Client and/or Broker's ’s other clients, the Client acknowledges and agrees: (A) that if such bulk application may be rejected for reasons which are unrelated to the Client, the Broker Broker, in absence of fraud, gross negligence or wilful default, shall not be liable to the Client or any other person in consequence of such rejection; and (B) to indemnify the Broker in accordance with Clause 10.2 10 of the General Terms and Conditions if such bulk application is rejected because of any breach of representations and warranties or otherwise arising from factors relating to the Client. 2.4 The Client may at the same time request the Broker to provide a loan to finance the Application (the “Loan”), the following provisions shall apply: (A) The Broker has discretion to accept or reject the request for the Loan. (B) Upon the acceptance of the request for the Loan, the employee or representative of the Broker will verbally or in writing confirm the terms of the Loan (“Agreed Loan Terms”) as agreed between the Broker and the Client, which shall be conclusive and binding on the Client. (C) Before the provision of the Loan, the Client shall provide the Broker a deposit, which shall form part of the proceeds for the Application, in the amount and within the time in accordance with the Agreed Loan Terms. (D) Unless contrary to the Agreed Loan Terms: (I) the Loan amount is the total price of the securities (including applicable charges) applied under the Application less the amount of deposit in Clause 2.4(C); and (II) the Client has no right to repay the Loan, in part or full, before the date of repayment in accordance with the Agreed Loan Terms. (E) The interest rate applicable to the Loan shall be determined under the Agreed Loan Terms. (F) When the Broker receives any refund in respect of the Application, the Broker has the right, at its discretion, to apply the same or part of it towards the discharge of the Loan including any interest accrued thereon and/or return the same or the remaining balance (if any) to the Client, whether before or after the repayment date in accordance with the Agreed Loan Terms. (G) In consideration for the Broker's granting of the Loan to the Client, the Client charges to the Broker by way of first fixed charge as a continuing security for the full repayment of the Loan and the accrued interest thereon, all the securities acquired on behalf of the Client under the Application in respect of which the Loan is provided. The Client has no right to the possession of the aforesaid securities until the full repayment of the Loan (including interest accrued thereon). The Client authorises the Broker to dispose of the aforesaid charged securities without prior notice to the Client for discharge of the liabilities owing to the Broker under the Loan so long as the Loan (including interest thereon) has not been repaid in full.

Appears in 1 contract

Samples: Client Master Agreement

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