Common use of Trader elects prudential requirements Clause in Contracts

Trader elects prudential requirements. If the Distributor requires the Trader to comply with prudential requirements in accordance with clause 10.1, the Trader must comply with either of the following prudential requirements: (a) the Trader must maintain an acceptable credit rating at all times; or (b) the Trader must provide and maintain at all times acceptable security by, at the Trader's election: (i) providing the Distributor with a cash deposit of the value specified in clause 10.6 ("Cash Deposit"), which the Distributor must hold in a trust account that the Distributor must establish and operate in accordance with clause 10.26; (ii) arranging for a third party with an acceptable credit rating to provide security in a form acceptable to the Distributor, of the value specified in clause 10.6; or (iii) providing a combination of the securities listed in subparagraphs (i) and (ii) to the value specified in clause 10.6.

Trader elects prudential requirements. If the Distributor requires the Trader to comply with prudential requirements in accordance with clause 10.1, the Trader must comply with either of the following prudential requirements: (a) : the Trader must maintain an acceptable credit rating at all times; or (b) or the Trader must provide and maintain at all times acceptable security by, at the Trader's election: (i) providing the Distributor with a cash deposit of the value specified in clause 10.6 ("Cash Deposit"), which the Distributor must hold in a trust account that the Distributor must establish and operate in accordance with clause 10.26; (ii) arranging for a third party with an acceptable credit rating to provide security in a form acceptable to the Distributor, of the value specified in clause 10.6; or (iii) providing a combination of the securities listed in subparagraphs (i) and (ii) to the value specified in clause 10.6.

Trader elects prudential requirements. If the Distributor requires the Trader to comply with prudential requirements in accordance with clause 10.1, the Trader must comply with either of the following prudential requirements: (a) the Trader must maintain an acceptable credit rating at all times; or (b) the Trader must provide and maintain at all times acceptable security by, at the Trader's ’s election: (i) providing the Distributor with a cash deposit of the value specified in clause 10.6 ("“Cash Deposit"”), which the Distributor must hold in a trust account that the Distributor must establish and operate in accordance with clause 10.26; (ii) arranging for a third party with an acceptable credit rating to provide security in a form acceptable to the Distributor, of the value specified in clause 10.6; or (iii) providing a combination of the securities listed in subparagraphs (i) and (ii) to the value specified in clause 10.6.