Common use of Minimum Net Equity Clause in Contracts

Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with GS&Co. of that required in the No-Action Letter (or such greater amount as to which GS&Co. may from time to time inform Client). Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon GS&Co.’s request, promptly (but no later than within five (5) business days of such request) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require GS&Co. promptly to inform Executing Brokers that GS&Co. is no longer acting as prime broker for Client and that GS&Co. will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by GS&Co., will permit GS&Co., in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.

Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with GS&Co. of that required in the No-Action Letter (or such greater amount as to which GS&Co. may from time to time inform Client)Letter. Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon GS&Co.’s request, promptly (but no later than within five (5) business days of such requestdays) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require GS&Co. promptly to inform Executing Brokers that GS&Co. is no longer acting as prime broker for Client and that GS&Co. will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by GS&Co., will permit GS&Co., in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.

Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with GS&Co. of that required in the No-Action Letter (or such greater amount as to which GS&Co. may from time to time inform Client). Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon GS&Co.’s 's request, promptly (but no later than within five (5) business days of such request) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require GS&Co. promptly to inform Executing Brokers that GS&Co. is no longer acting as prime broker for Client and that GS&Co. will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by GS&Co., will permit GS&Co., in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.