Common use of Margin Payments Clause in Contracts

Margin Payments. 5.1 The IB shall be responsible for contacting each Account and using its best efforts to: (i) obtain for PFD its initial and variation margin requirements from the Customer, payable directly to PFD , and (ii) cause such margins to be delivered to PFD , all in accordance with Applicable Law, including PFD's written delivery instructions. 5.2 The IB will keep PFD fully informed as to any problems or difficulties of which it is aware in the collection of margin. Nothing herein shall constitute a waiver by PFD and of its right to take steps to liquidate any Account for which a margin call is outstanding. 5.3 The IB acknowledges that PFD may in its sole business judgment and at any time: (i) set higher requirements for any and all Customer margins than those prescribed by the Clearing House or Exchange. 5.4 PFD shall not be responsible for any monies or other property paid or delivered by any ("Customer") until such monies or property are (i) paid or physically delivered to PFD; or (ii) received in and credited to a PFD bank account.