Common use of Margin Facility Clause in Contracts

Margin Facility. 2.1 The Facility is extended to you in accordance with the provisions set out in this Margin Client Agreement, any fees and charges sheet from us to you and in the Client Agreement (collectively called “Margin Facility Terms”). You agree to use the Facility only in connection with the acquisition or holding of Securities by us for you. 2.2 Subject to Clause 2.4 below, we may grant you Facility of such amount up to the Credit Limit as may be notified to you from time to time. The Credit Limit available to you and the Margin Ratio may be varied by notice by us from time to time. Notwithstanding the credit limit as notified to you, we may at its discretion extend Facility to you in excess of the Credit Limit and you agree that you shall be liable to repay the full amount of any Facility given by us in accordance with Clause 2.6. 2.3 We are instructed and authorized by you to draw on the Facility to settle any amounts due to us or our Affiliates in respect of your purchase of Securities, margin maintenance obligations for any positions required by us or our Affiliates, or payment of any commission or other costs and expenses owing to us or our Affiliates. 2.4 We will not at any time be obliged to provide any Facility to you. In particular, you understand that we may not provide any Facility to you if any of the following circumstances should arise: (i) you are in default of any provisions of the Account Agreement; or (ii) in the opinion of us there is or has been a material adverse change in your financial condition or in the financial condition of any person which might adversely affect your ability to discharge your liabilities or perform your obligations under the Account Agreement; or (iii) making an advance would cause the applicable Credit Limit to be exceeded; or (iv) we in our absolute discretion consider it prudent or desirable for our protection not to do so. 2.5 For so long as there exists any indebtedness to us on your part, we shall be entitled at any time and from time to time to refuse any withdrawal of any or all of the Collateral and you shall not without the prior written consent of us be entitled to withdraw any Collateral in part or in whole from your Account. 2.6 You shall on demand from us make payments of deposits or Margin in monies, Securities and/or other assets in such amount and in such form into a designated account and within such time as specified by us (referred to as a “Margin Call”), as we in our absolute discretion determine necessary to provide adequate security in respect of the Facility. For the purpose of a Margin Call, we shall use our reasonable endeavours to contact you promptly by phone on the telephone numbers indicated by you on the Account Application Form and/or by sending to you a Margin Call notice by post, fax, email or otherwise. You agree that you shall be deemed properly notified of the Margin Call even if we fail to contact it by phone or you fail to receive the written notice.

Margin Facility. 2.1 3.1 The amount of Margin Facility is extended that will be granted to you in accordance with by CSSS varies from time to time which shall be the provisions set out in this lower of either: (a) the aggregate Margin Client Agreement, any fees and charges sheet from us Value of all the Securities pledged by you to you and in CSSS as Collateral for the Client Agreement Margin Facility; or (collectively called “Margin Facility Terms”). b) the Loan Limit. 3.2 You hereby agree to use the Margin Facility only in connection with the acquisition or holding of Securities by us CSSS for you. 2.2 Subject to Clause 2.4 below, we may grant you Facility of such amount up to the Credit Limit as may be notified to you from time to time. The Credit Limit available to you 3.3 You hereby instruct and the Margin Ratio may be varied by notice by us from time to time. Notwithstanding the credit limit as notified to you, we may at its discretion extend Facility to you in excess of the Credit Limit and you agree that you shall be liable to repay the full amount of any Facility given by us in accordance with Clause 2.6. 2.3 We are instructed and authorized by you authorize CSSS to draw on the Margin Facility to settle any amounts due to us or our Affiliates CSSS in respect of your purchase of Securities, margin maintenance obligations for any positions required by us or our AffiliatesCSSS, or payment of any commission or other costs and expenses owing to us or our AffiliatesCSSS, including costs and expenses that may be incurred in connection with the realization of any Collateral. 2.4 We 3.4 You acknowledge that, without prejudice to the right granted to CSSS under Clause 4.3 of this Addendum A, CSSS will not at any time be obliged under no obligation to provide any Facility to you. In particular, you understand that we may not provide any Margin Facility to you if any of the following circumstances should arise: (ia) you are in default of any provisions of the Account Agreement; orMargin Facility Terms; (iib) in the opinion of us CSSS there is or has been a material adverse change in your financial condition or in the financial condition of any person which might adversely affect your ability to discharge your liabilities or perform your obligations under the Account AgreementMargin Facility Terms; or (iiic) making an advance would cause the applicable Credit Limit to be exceeded; or (iv) we CSSS in our its absolute discretion consider considers it prudent or desirable for our its protection not to do so. 2.5 3.5 For so long as there exists any indebtedness to us CSSS on your part, we CSSS shall be entitled at any time and from time to time to refuse any withdrawal of any or all of the Collateral and you shall not without the CSSS’ prior written consent of us be entitled to withdraw any Collateral in part or in whole from any of your Accounts which shall include the Margin Account. 2.6 3.6 You shall agree to pay interest on demand from us make payments of deposits or Margin in monies, Securities and/or other assets in such amount and in such form into a designated account and within such time as specified by us (referred to as a “Margin Call”), as we in our absolute discretion determine necessary to provide adequate security in respect of the Facility. For the purpose of a Margin Call, we shall use our reasonable endeavours to contact you promptly by phone daily basis on the telephone numbers indicated by you on the Account Application Form and/or by sending to you a Margin Call notice by post, fax, email or otherwise. You agree that you shall be deemed properly notified amount of the Margin Call even if we fail Facility extended to contact it you. The interest rate shall be at a percentage as determined and notified to you by phone CSSS from time to time. Such interest charges shall be calculated and payable on the last day of each calendar month or you fail to receive upon any demand being made by CSSS, and may be deducted by CSSS from the written noticeMargin Account or any other Account.