Common use of Authorised deductions Clause in Contracts

Authorised deductions. The Client agrees that MTC is entitled to: (a) Withdraw, deduct or apply any amounts payable by the Client to MTC and/or any associate of MTC from Client moneys held in any segregated account or invested by MTC, including, without limitation, making a payment for, or in connection with, the margining, adjusting or settling of dealings on Contracts entered into by the Client, or the payment of finance charges, commissions or interest to MTC with all such amounts belonging to MTC; and/or (b) Use the funds in the client segregated accounts to manage MTC’s dealings with counterparties with respect to client positions. These counterparty accounts will also be afforded the same segregation protection as mentioned above. (c) Deal with any property, other than money, given to MTC by the Client, in such manner as MTC in our sole discretion consider appropriate in consideration and in connection with the margining, adjusting or settling of dealings in Contracts with us or selling or charging any or all of such property that may be in our control following a Default Event. (d) Retain all interest earned on client money held in segregated accounts with a bank, approved deposit taking institution and/or exchange clearing house.