Examples of Memorandum of Deposit in a sentence
The Trading Participant and the Clients are not allowed to amend, vary, add or substitute the Memorandum of Deposit or enter into additional agreements or any form of arrangement or understanding which has the effect of altering, limiting or waiving the meaning, substance, application and the operation of the Memorandum of Deposit.
For the avoidance of doubt, this Directive shall not be construed so as to authorise the General Clearing Participant to deposit Clients’ securities with the Clearing House for the purpose of the General Clearing Participants’ Margin payment to the Clearing House where the Memorandum of Deposit has not been executed by the Clients.
Where additional securities are deposited with you to satisfy the margin required by you for the purpose stipulated in Clause 1, the provisions of this Memorandum of Deposit shall equally apply to those additional securities deposited.
I acknowledge and agree that the terms stipulated in this Memorandum of Deposit shall be subject to the business rules of Bursa Clearing (D), and all procedures, guidelines etc issued by Bursa Clearing (D) from time to time in connection with the depositing of securities for the purpose stipulated under Clause 1 (“the Provisions”) and I shall comply with the Provisions as if the same is stipulated herein.
I hereby indemnify you and hold you indemnified for any loss, legal costs (including third party costs), damage or liability suffered or incurred by you, whether directly or otherwise, arising as a result of your reliance on the representations made in Clause 1 in accepting the securities pledged under this Memorandum of Deposit.
I agree that you may deduct, from monies held by you, all fees, cost incurred, stamp duty and other charges relating to or in connection with the execution of this Memorandum of Deposit.
Any demand, request or notice made under this Memorandum of Deposit by me or you shall be in writing and addressed to the address specified herein or such address as notified in writing from time to time.
This Memorandum of Deposit shall be binding and enure to my and your benefit and our successors, legal representatives and permitted assigns.
I further agree that I shall not enter into any dealings and/or any arrangement howsoever called with respect to the Securities except where permitted in this Memorandum of Deposit and/or by you.
In this respect, Schedule 1 of this Memorandum of Deposit shall be read to include the above additional securities as if enumerated therein and the word Securities wherever appearing in this Memorandum of Deposit shall also include the above additional securities.