Common use of Application and Definitions Clause in Contracts

Application and Definitions. 1.1 Unless otherwise defined, terms and references defined or construed in Section I of these Terms and Conditions shall have the same meaning and construction when used in this Section II. In addition, in this Section II, the following words and expression shall have the following meaning unless the context otherwise requires. "Charge" means the charge over the Collateral constituted by Clause 4.1 of this Section II and "Charged" shall have the same meaning accordingly; "Collateral" means such assets of the Customer charged to MSL as continuing security for the Margin Facilities granted by MSL and for performance of all obligations of the Customer to MSL from time to time pursuant to this Agreement, as more particularly described in Clause 4.1 of this Section II; "Facility Limit" means the maximum aggregate principal amount to be made available by MSL to the Customer under the Margin Facilities as may be determined by MSL from time to time; "Marginable Value" means the market value of Collateral multiplied by the prescribed margin of finance of respective Securities, which will be notified to the Customer from time to time and subject to change at MSL’s sole discretion.

Application and Definitions. 1.1 Unless otherwise defined, terms and references defined or construed in Section I of these Terms and Conditions shall have the same meaning and construction when used in this Section II. In addition, in this Section II, the following words and expression shall have the following meaning unless the context otherwise requires. "Charge" means the charge over the Collateral constituted by Clause 4.1 of this Section II and "Charged" shall have the same meaning accordingly; "Collateral" means such assets of the Customer charged to MSL as continuing security for the Margin Facilities granted by MSL and for performance of all obligations of the Customer to MSL from time to time pursuant to this Agreement, as more particularly described in Clause 4.1 of this Section II; "Facility Limit" means the maximum aggregate principal amount to be made available by MSL to the Customer under the Margin Facilities as may be determined by MSL from time to time; "Marginable Value" means the market value of Collateral multiplied by the prescribed margin of finance of respective Securities, which will be notified to the Customer from time to time and subject to change at MSL’s sole discretion.