PAYMENTS AND REMISSION OF MONIES. 10.1 Client shall pay SYS forthwith upon demand by SYS at any time the full amount of all losses, debit balances and deficiencies resulting from any transaction between Client and SYS, or from the operation of Client’s Account. Payment shall be made in such currencies as SYS may prescribe from time to time.
10.2 Without prejudice to Client’s obligation to effect payment on demand, each payment (whether by way of direct payment, transfer, debit or credit) to be made by Client to SYS as required in this Agreement shall be not later than the close of business (Hong Kong time) on the date on which payment is required to be made.
10.3 Without prejudice to any other provisions in this Agreement, Client agrees and authorizes Client's Bank, XXXXX XXXXXXXXXXXXXX LIMITED to execute a direct debit mandate, as the case may be, to transfer to the Account monies which may from time to time be required for the purpose of meeting demands for Margin or variation adjustments and any transaction costs or other liability of Client in respect of the Account.
10.4 Subject to the deduction of all amounts which SYS is entitled to deduct under the HKFE Rules, the rules of any other exchanges or clearing houses, applicable laws and regulations and/or this Agreement, any Margin required as referred to in paragraphs 8 and 9 above and subject to the prior discharge in full of all sums or liabilities (whether actual or contingent) owed by Client or any Client Group Company to SYS or any other member of SYS, SYS shall as soon as practicable after receiving a demand in writing from an Authorized Person remit to Client all or part of the monies or standing to the credit in the Account and/or the proceeds of sale of any Commodities, Futures Contracts and/or Option Contracts. All monies payable by SYS to Client shall be transferred by SYS to the bank account specified by Client on the Account Opening Form or in such other manner as may be agreed between Client and SYS from time to time. All monies paid as aforesaid to Client's specified bank account shall be deemed good and valid discharge of SYS's obligation to make payment to Client.
10.5 Client confirms that unless an Authorized Person is also Client, Authorized Person or Authorized Third Party shall only have authority in placing trade orders on behalf of Client in relation to this Agreement. No Authorized Person or Third Party shall be authorized to instruct or direct SYS to transfer or debit any money or property from the Account to a...
PAYMENTS AND REMISSION OF MONIES. 10.1 The Client shall pay GTJAF forthwith upon demand by GTJAF at any time the full amount of all losses, debit balances and deficiencies resulting from any transaction between the Client and GTJAF, or from the operation of the Client’s Account. Payment shall be made in such currencies as GTJAF may prescribe from time to time.
10.2 Without prejudice to the Client’s obligation to effect payment on demand, each payment (whether by way of direct payment, transfer, debit or credit) to be made by Client to GTJAF in relation to this Agreement shall be not later than the close of business (Hong Kong time) on the date on which payment is required to be made.
10.3 Subject to the deduction of all amounts which GTJAF is entitled to deduct under the HKFE Rules, the rules of any other exchanges or clearing houses, applicable laws and regulations and/or this Agreement, any Margin required as referred to in Clauses 8 and 9 above and subject to the prior discharge in full of all sums or liabilities actual or contingent owed by the Client to GTJAF or any member of the GTJA Group, GTJAF shall as soon as practicable after receiving a demand in writing from an Authorized Person remit to Client all or part of the monies forming part of the Account and/or the proceeds of sale of any Derivatives contracts. All monies payable by GTJAF to the Client shall be transferred by GTJAF to the bank account specified by the Client on the Account Opening Form or in such other manner as may be agreed between the parties from time to time. All monies paid as aforesaid to the Client's specified bank account shall be deemed good discharge of GTJAF's obligation to make payment to the Client.
10.4 The Client confirms that unless an Authorized Person is also the Client, Authorized Person shall only have authority in placing trade orders on behalf of the Client in relation to this Agreement. No Authorized Person shall be authorized to instruct or direct GTJAF to transfer or debit any money or property from the Account to any other account the holder of which is or includes an authorized third party, and the Client hereby agrees that if GTJAF receives any Instruction or directions to such effect from any authorized third party, GTJAF is expressly authorized not to act on or carry out any such Instruction or directions unless GTJAF has received notice in writing to the contrary from the Client.
10.5 The Client will be responsible to GTJAF for any losses, costs, fees and expenses in connection with th...