Common use of TRADING LIMIT Clause in Contracts

TRADING LIMIT. Upon execution of this Agreement, GTN ME will evaluate the Client and offer trading limit for each market in which the Client chooses to trade through GTN ME. Such trading limit will be the maximum Net Settle amount that the Client will be allowed to accrue in respect of such market. The trading limit assigned for each market will be monitored through an overall trading limit assigned to the Client for all the markets in which the Client makes use of GTN ME's services. GTN ME, in its sole discretion may increase the initial trading limit or provide additional temporary trading limits to the Client based on requests made by the Client. The Client agrees that such increase of trading limits are provided in good faith and agree to settle transactions executed using the trading limits on or before the settlement date. GTN ME has the right to reject any order that exceeds the pre agreed trading limit. GTN ME, in its sole discretion may reduce the trading limit by providing two (2) working days advance notice to the Client. The trading limit as recorded /updated in the GTN system, or any other software provided by GTN ME as of the date and not disputed or disagreed by the Client in writing shall be considered as the trading limit assigned to the Client and shall form together with any increase or decrease thereof a part of this Agreement and the terms contained herein. Any funds that are transferred to the GTN ME Deposit Account to increase the trading limit will take effect upon realization of the said funds while any withdrawal from the GTN ME Deposit Account will immediately reduce the trading limit available to the Client. GTN ME has the right of lien to any securities held in the Client's accounts with GTN ME or GTN ME executing broker until the amount of such securities are paid by the Client as well as any outstanding amounts from the Client due to GTN ME. GTN ME has the right to liquidate securities in the Deposit Account and deduct from the proceeds any amounts the Client owes GTN ME in case of Client failure to meet any of Client's financial obligations under this Agreement. The Client does hereby irrevocably waive his right to challenge, question and/or dispute the sale of the securities or the quantum of the proceeds availed from the sale of securities, in favor of GTN ME. The sales proceeds so recovered shall be adjusted against the outstanding of the Client due to GTN ME. In case the sale proceeds obtained after the sale of the securities is not sufficient to cover the liability of the Client, then GTN ME shall reserve its right to recover the balance outstanding amount from the Client, as that may be available to it under the law. REPRESENTATIONS AND WARRANTIES The Client is a corporation duly organized, validly existing and in good standing under the laws of its countries of registration and operation. The Client has all the requisite authority to enter into this Agreement and is permitted to retain the services of GTN ME in accordance with the terms herein. The Client qualifies as a “Professional Client” as per DFSA rulebook and agrees to provide evidence of the same to GTN ME at the time of opening the account and on continuous basis thereafter. The Client agrees and consents to be classified as a “Professional Client” at all times during the term of this Agreement and acknowledges and agrees that by being classified as a “Professional Client” the Client will not be entitled to the higher level of protection available to Retail Clients. The Client is and at all times during the term of this Agreement shall remain in compliance with any known capital and/or financial reporting requirements of the applicable securities exchange, securities clearing agency or regulatory authority to which it is subject in relation to the transactions intended hereunder. Where applicable the Client is and at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to the segregation of customer securities, cash and other property in its customer's accounts. The Client represents that all orders received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any transaction that it may have with the Client, or that the Client may have with other persons, nor shall GTN ME be under any responsibility for compliance by the Client with any laws or regulations which may be applicable to the Client. The Client represents that all requests for funds transfer received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any funds transfer requests that it may receive from the Client. GTN ME represents and warrants to the Client that: GTN Middle East Financial Services (DIFC) Limited is a Company incorporated under the laws of the DIFC. GTN ME at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to anti money laundering laws and the segregation of customer securities, cash and other property in its customer's accounts. GTN ME has the requisite authority to enter into this Agreement and to provide the services outlined hereunder.

TRADING LIMIT. Upon execution of this Agreement, GTN ME ASIA will evaluate the Client and offer trading limit for each market in which the Client chooses to trade through GTN MEASIA. Such trading limit will be the maximum Net Settle amount that the Client will be allowed to accrue in respect of such market. The trading limit assigned for each market will be monitored through an overall trading limit assigned to the Client for all the markets in which the Client makes use of GTN MEASIA's services. GTN MEASIA, in its sole discretion may increase the initial trading limit or provide additional temporary trading limits to the Client based on requests made by the Client. The Client agrees that such increase of trading limits are is provided in good faith and agree to settle transactions executed using the trading limits on or before the settlement date. GTN ME ASIA has the right to reject any order that exceeds the pre agreed trading limit. GTN MEASIA, in its sole discretion may reduce the trading limit by providing two (2) working days advance notice to the Client. The trading limit as recorded /updated in the GTN system, or any other software provided by GTN ME ASIA as of the date and not disputed or disagreed by the Client in writing shall be considered as the trading limit assigned to the Client and shall form together with any increase or decrease thereof a part of this Agreement and the terms contained herein. Any funds that are transferred to the GTN ME ASIA Deposit Account to increase the trading limit will take effect upon realization of the said funds while any withdrawal from the GTN ME ASIA Deposit Account will immediately reduce the trading limit available to the Client. GTN ME ASIA has the right of lien to any securities held in the Client's accounts with GTN ME ASIA or GTN ME ASIA executing broker until the amount of such securities are paid by the Client as well as any outstanding amounts from the Client due to GTN MEASIA. GTN ME ASIA has the right to liquidate securities in the Deposit Account and deduct from the proceeds any amounts the Client owes GTN ME ASIA in case of Client failure to meet any of Client's financial obligations under this Agreement. The Client does hereby irrevocably waive his right to challenge, question and/or dispute the sale of the securities or the quantum of the proceeds availed from the sale of securities, in favor favour of GTN MEASIA. The sales proceeds so recovered shall be adjusted against the outstanding of the Client due to GTN MEASIA. In case the sale proceeds obtained after the sale of the securities is not sufficient to cover the liability of the Client, then GTN ME ASIA shall reserve its right to recover the balance outstanding amount from the Client, as that may be available to it under the law. REPRESENTATIONS AND WARRANTIES The Client is a corporation duly organized, validly existing and in good standing under the laws of its countries of registration and operation. The Client has all the requisite authority to enter into this Agreement and is permitted to retain the services of GTN ME in accordance with the terms herein. The Client qualifies as a “Professional Client” as per DFSA rulebook and agrees to provide evidence of the same to GTN ME at the time of opening the account and on continuous basis thereafter. The Client agrees and consents to be classified as a “Professional Client” at all times during the term of this Agreement and acknowledges and agrees that by being classified as a “Professional Client” the Client will not be entitled to the higher level of protection available to Retail Clients. The Client is and at all times during the term of this Agreement shall remain in compliance with any known capital and/or financial reporting requirements of the applicable securities exchange, securities clearing agency or regulatory authority to which it is subject in relation to the transactions intended hereunder. Where applicable the Client is and at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to the segregation of customer securities, cash and other property in its customer's accounts. The Client represents that all orders received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any transaction that it may have with the Client, or that the Client may have with other persons, nor shall GTN ME be under any responsibility for compliance by the Client with any laws or regulations which may be applicable to the Client. The Client represents that all requests for funds transfer received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any funds transfer requests that it may receive from the Client. GTN ME represents and warrants to the Client that: GTN Middle East Financial Services (DIFC) Limited is a Company incorporated under the laws of the DIFC. GTN ME at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to anti money laundering laws and the segregation of customer securities, cash and other property in its customer's accounts. GTN ME has the requisite authority to enter into this Agreement and to provide the services outlined hereunder.

TRADING LIMIT. i) Upon execution of this Agreement, GTN ME MFS will evaluate the Client and offer trading limit for each market in which the Client chooses to trade through GTN MEMFS. Such trading limit will be the maximum Net Settle amount that the Client will be allowed to accrue in respect of such market. The trading limit assigned for each market will be monitored through an overall trading limit assigned to the Client for all the markets in which the Client makes use of GTN MEMFS's services. GTN ME. ii) MFS, in its sole discretion may increase the initial trading limit or provide additional temporary trading limits to the Client based on requests made by the Client. The Client agrees that such increase of trading limits are provided in good faith and agree to settle transactions executed using the trading limits on or before the settlement date. GTN ME . iii) MFS has the right to reject any order that exceeds the pre agreed trading limit. GTN ME. iv) MFS, in its sole discretion may reduce the trading limit by providing two (2) working days advance notice to the Client. . v) The trading limit as recorded /updated in the GTN system, system or any other software provided by GTN ME MFS as of the date and not disputed or disagreed by the Client in writing shall be considered as the trading limit assigned to the Client and shall form together with any increase or decrease thereof a part of this Agreement and the terms contained herein. . vi) Any funds that are transferred to the GTN ME MFS Deposit Account to increase the trading limit will take effect upon realization of the said funds while any withdrawal from the GTN ME MFS Deposit Account will immediately reduce the trading limit available to the Client. GTN ME . vii) MFS has the right of lien to any securities held in the Client's accounts with GTN ME MFS or GTN ME MFS executing broker until the amount of such securities are paid by the Client as well as any outstanding amounts from the Client due to GTN ME. GTN ME MFS. viii) MFS has the right to liquidate securities in the Deposit Account and deduct from the proceeds any amounts the Client owes GTN ME MFS in case of Client failure to meet any of Client's financial obligations under this Agreement. The Client does hereby irrevocably waive his right to challenge, question and/or dispute the sale of the securities or the quantum of the proceeds availed from the sale of securities, in favor favour of GTN MEMFS. The sales proceeds so recovered shall be adjusted against the outstanding of the Client due to GTN MEMFS. In case the sale proceeds obtained after the sale of the securities is not sufficient to cover the liability of the Client, then GTN ME MFS shall reserve its right to recover the balance outstanding amount from the Client, as that may be available to it under the law. REPRESENTATIONS AND WARRANTIES The Client is a corporation duly organized, validly existing and in good standing under the laws of its countries of registration and operation. The Client has all the requisite authority to enter into this Agreement and is permitted to retain the services of GTN ME in accordance with the terms herein. The Client qualifies as a “Professional Client” as per DFSA rulebook and agrees to provide evidence of the same to GTN ME at the time of opening the account and on continuous basis thereafter. The Client agrees and consents to be classified as a “Professional Client” at all times during the term of this Agreement and acknowledges and agrees that by being classified as a “Professional Client” the Client will not be entitled to the higher level of protection available to Retail Clients. The Client is and at all times during the term of this Agreement shall remain in compliance with any known capital and/or financial reporting requirements of the applicable securities exchange, securities clearing agency or regulatory authority to which it is subject in relation to the transactions intended hereunder. Where applicable the Client is and at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to the segregation of customer securities, cash and other property in its customer's accounts. The Client represents that all orders received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any transaction that it may have with the Client, or that the Client may have with other persons, nor shall GTN ME be under any responsibility for compliance by the Client with any laws or regulations which may be applicable to the Client. The Client represents that all requests for funds transfer received by GTN ME from the Client’s duly authorised representatives can be relied upon by GTN ME. The parties hereto expressly agree that GTN ME shall not be responsible for investigation into the facts surrounding any funds transfer requests that it may receive from the Client. GTN ME represents and warrants to the Client that: GTN Middle East Financial Services (DIFC) Limited is a Company incorporated under the laws of the DIFC. GTN ME at all times during the term of this Agreement shall remain in compliance with all applicable laws and regulations relating to anti money laundering laws and the segregation of customer securities, cash and other property in its customer's accounts. GTN ME has the requisite authority to enter into this Agreement and to provide the services outlined hereunder.