THE FACILITY AND PURPOSE Sample Clauses
THE FACILITY AND PURPOSE. 24.1 The Client acknowledges and agrees that where the Client has requested, on the Account Opening Form, a Margin Facility from uSMART SG or subsequent to the date of the Account Opening Form, the Client has requested a Margin Facility from uSMART SG, the Client agrees to comply with the terms and conditions of this Part 2 which shall apply in addition to all other terms and conditions of this Agreement and all other documents (which includes, but is not limited, to documents and information published on uSMART SG’s website) pertaining to the Margin Facility, as the same may be amended, modified, supplemented, or replaced from time to time, shall apply to all Margin Accounts.
24.2 If granted, the Margin Facility shall only be used by the Client for financing the purchase of Marginable Securities provided always that the Client shall not use more than the percentage imposed by uSMART SG in its sole and absolute discretion and notified to the Client of the Margin Facility or such other
24.3 Notwithstanding any other provisions of this Agreement, the Margin Facility may be cancelled at any time by uSMART SG and all sums and monies outstanding or owing by the Client to uSMART SG under or in connection with the Margin Facility shall become due and payable immediately upon demand. Upon such demand, the Client shall immediately repay all such sums and monies outstanding or owing by the Client to uSMART SG.
24.4 For the avoidance of doubt, an order of the Client effected through the Margin Account, shall be deemed to be the Client’s irrevocable request to draw down on such Margin Facility, and unless uSMART SG agrees, the Client shall not be entitled to request, for an amendment of the order, or to transfer the trade from one trading Account to another trading Account of the Client even if the Client or Client’s agent has made a mistake, or the order of the Client has been erroneously executed by the Client’s agent.
24.5 The Electronic Trading Service will recognise if an Order is placed as a long or short sale. The Client acknowledge that: (i) short sales may only be effected in a Margin Account and are subject to the Margin Limit set out in Clause 25; (ii) prior to effecting a short sale for the Client , uSMART SG or its Intermediary (as defined in Clause 24.6 below) must be able to borrow such stock on the Client's behalf to effect delivery of such stock to the purchaser; (iii) if uSMART SG or its Intermediary is able to borrow stock to enable the Client to ef...
THE FACILITY AND PURPOSE. (a) Subject to the terms of this Agreement, the Bank makes available to the Borrower the Facility A.
(b) The Borrower shall apply all amounts borrowed by it under the Facility A for the financing of a selection of the Borrower’s planned investments in the Research, Development and Innovation (“RDI”) programme of leading-edge semiconductor devices, technologies and solutions in the Netherlands, France, Germany, Austria and Romania, as more particularly described in the Technical Description (the “Project”).
THE FACILITY AND PURPOSE. 2.1 The Lender hereby grants to the Borrower a credit facility comprising:-
(1) the Term Loan; and
(2) a revolving credit facility in the maximum aggregate principal amount of (pound)30,000,000 (thirty million pounds) or such greater amount as may be agreed by the Lender in writing from time to time pursuant to clause 2.6 or such lesser amount following a cancellation pursuant to Clause 5, on and subject to the terms of this Agreement.
2.2 At no time may the aggregate principal amount of Advances drawn under the Revolving Facility hereunder exceed the Revolving Commitment.
THE FACILITY AND PURPOSE. 2.1 The Lender hereby agrees to:-
(a) make the Closing Date Advance available to the Borrower in accordance with clause 4.1 for the sole purpose of repaying amounts owing by the Borrower under the GIL Facility; and
(b) make the remainder of the Loan Commitment available to the Borrower on and subject to the terms of this Agreement for the sole purpose of financing the origination of Mortgage Loans.
2.2 At no time may the Loan Amount exceed the Loan Commitment.
2.3 The Lender shall not be obliged to concern itself with the application of amounts borrowed by the Borrower under this Agreement and application by the Borrower of funds so borrowed contrary to the provisions of clause 2.1 shall not prejudice the Lender's rights hereunder or under any other Transaction Document.
THE FACILITY AND PURPOSE