Common use of Margin Facility Clause in Contracts

Margin Facility. 2.1 The Facility is extended to the Client in accordance with the provisions set out in this Margin Client Agreement, any fees and charges schedules from the Company to the Client and in the Cash Client Agreement (collectively called "Margin Facility Terms"). The Client agrees to use the Facility only in connection with the acquisition or holding of Securities in the Margin Account. 2.2 Subject to Clause 2.5 below, the Company may in its absolute discretion, grant to the Client Margin Facility up to such percentage of the market value of the securities collateral maintained with the Company as the Company may determine from time to time at the Company’s sole discretion, Such Facilities shall not exceed the Credit Limit notified by the Company to the Client from time to time, the Company may still at its discretion extend the Facility to the Client in excess of the Credit Limit. 2.3 The Client shall maintain a level of margin as determined by the Company from time to time. The Client shall on demand within such time as specified by the Company pay such additional margins as required by the Company from time to time (referred to as a “Margin Call”). The Company may accept Securities and/or other assets that are satisfactory to it as collateral in lieu of margin. The value of such Securities and/or other assets at any time will be as determined by the Company. Notwithstanding the aforesaid, the Client shall closely monitor his Margin Account, the Company are not required to notify the Client of his failure to maintain the required level of margin and the Client agrees that the Client shall be liable to repay the full amount of any Facility given by the Company in accordance with Clause 9.1.