Common use of Margin Accounts Clause in Contracts

Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin, and Clearing Firm extends credit for the remainder. This loan appears as a debit balance on your monthly statement. Clearing Firm charges interest for the extension of credit on your debit balance based on rates set by Introducing Firm. You are required to maintain securities, cash, or other property to secure repayment of funds advanced and interest due. You understand and agree that interest will be charged for any credit extended to you for the purpose of buying, trading, or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the Account for any reason, interest may be charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm, the Federal Reserve, FINRA, or applicable exchange rules may be purchased on margin or used as collateral in your Account. Whether a purchase may be made on margin, how much of the purchase price must be available in your Account at the time you place the order, and your margin maintenance requirements, are determined by Clearing Firm, the Federal Reserve, FINRA, or applicable exchange rules. For Clearing Firm's own protection, you understand and agree that Clearing Firm reserves the right, at any time and without prior notice you, to impose stricter requirements than those imposed by the Federal Reserve Board, FINRA, or applicable exchange rules. You agree to maintain such required margin in your Account and understand that any debit balances in such Account will be charged interest. All payments received for your Account including interest, dividends, premiums, principal, or other payments may be applied by Clearing Firm to any debit balances in such Account. You are required to have at least $2,000 in equity in your Account, or such higher amount as required by it, or applicable rules and regulations, before it will extend credit to you. Generally, Clearing Firm can loan you no more than 50% of the purchase price of the security you are buying on margin. It is Clearing Firm's general policy to require margin account holders to maintain equity in their accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well as size, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your registered representative. Despite any of the above general policies, Clearing Firm reserves the right, at its discretion, and without prior notice to you, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts, particular securities, classes of accounts, or classes of securities as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or firm-wide or a decline in creditworthiness. If you fail to meet a margin call, some or all of your positions may be liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account fails below Clearing Firm's margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold.

Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin, and Clearing Firm extends credit for the remainder. This loan appears as a debit balance on your monthly statement. Clearing Firm charges interest for on the extension of credit on your debit balance based on rates set by Introducing Firm. You are required and requires you to maintain securities, cash, or other property to secure repayment of funds advanced and interest due. You understand and agree that interest will be charged for any credit extended to you for the purpose of buying, trading, or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the Account account for any reason, interest may be maybe charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm, Firm or the Federal ReserveReserve Board, FINRA, or applicable exchange rules may be purchased on margin or used as collateral in your Account. Whether a purchase may be made on margin, how much of the purchase price must be available in your Account at the time you place the order, and your margin maintenance requirements, are determined by Clearing Firm, the Federal Reserve, FINRAReserve Board, or by applicable exchange rules. For Clearing Firm's ’s own protection, you understand and agree that Clearing Firm reserves the right, at any time and without prior notice you, to impose stricter requirements requirement than those imposed by the Federal Reserve Board, FINRA, Board or applicable exchange rules. You agree to maintain such required margin in your Account and understand that any debit balances in such Account will be charged interest. All payments received for your Account including interest, dividends, premiums, principal, principal or other payments may be applied by Clearing Firm to any debit balances in such Account. You are required to Clearing Firm requires that you have at least $2,000 in equity in your Account, or such higher amount as required by it, or applicable rules and regulations, before it will extend credit to you. Generally, Clearing Firm can loan you no more than 50than50% of the purchase price of the security you are buying on margin. It is Clearing Firm's ’s general policy to require margin account holders to maintain equity in their accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well as sizeassize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your registered representativeAdvisor. Despite Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, and without prior notice to you, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts, particular securities, classes of accounts, accounts or classes of securities accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or firm-wide or a decline in creditworthiness. If you fail to meet a margin callcall in a timely manner, some or all of your positions may be maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account fails falls below Clearing Firm's ’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.

Margin Accounts. Purchases of securities on credit, commonly known as margin purchases, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin, and Clearing Firm extends credit for the remainder. This loan appears as a debit balance on your monthly statement. Clearing Firm charges interest for on the extension of credit on your debit balance based on rates set by Introducing Firm. You are required and requires you to maintain securities, cash, or other property to secure repayment of funds advanced and interest due. You understand and agree that interest will be charged for any credit extended to you for the purpose of buying, trading, or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the Account account for any reason, interest may be maybe charged on the resulting debit balances. Only certain securities, as defined by Clearing Firm, Firm or the Federal ReserveReserve Board, FINRA, or applicable exchange rules may be purchased on margin or used as collateral in your Account. Whether a purchase may be made on margin, how much of the purchase price must be available in your Account at the time you place the order, and your margin maintenance requirements, are determined by Clearing Firm, the Federal Reserve, FINRAReserve Board, or by applicable exchange rules. For Clearing Firm's ’s own protection, you understand and agree that Clearing Firm reserves the right, at any time and without prior notice you, to impose stricter requirements requirement than those imposed by the Federal Reserve Board, FINRA, Board or applicable exchange rules. You agree to maintain such required margin in your Account and understand that any debit balances in such Account will be charged interest. All payments received for your Account including interest, dividends, premiums, principal, principal or other payments may be applied by Clearing Firm to any debit balances in such Account. You are required to Clearing Firm requires that you have at least $2,000 in equity in your Account, or such higher amount as required by it, or applicable rules and regulations, before it will extend credit to you. Generally, Clearing Firm can loan you no more than 50than50% of the purchase price of the security you are buying on margin. It is Clearing Firm's ’s general policy to require margin account holders to maintain equity in their accounts of the greater of 30% of the current market value or a minimum per share value for common stock. These minimums may fluctuate according to market conditions as well as sizeassize, volatility, and creditworthiness of specific securities held in the account. Clearing Firm applies other standards for other types of securities. Also, certain securities may be ineligible for margin credit from time to time. For information with respect to general margin maintenance policy for municipal bonds, corporate bonds, United States Treasury notes and bonds, and other securities, as well as information about the eligibility of particular securities for margin credit, please contact Clearing Firm or your registered representativeRIA. Despite Notwithstanding any of the above general policies, Clearing Firm reserves the right, at its discretion, and without prior notice to you, to require the deposit of additional collateral and to set required margin at a higher or lower amount with respect to particular accounts, particular securities, classes of accounts, accounts or classes of securities accounts as it deems necessary. In making these determinations, Clearing Firm may take into consideration various factors including the size of the account, liquidity of a position, price volatility of a security, concentration of securities in an account, or firm-wide or a decline in creditworthiness. If you fail to meet a margin callcall in a timely manner, some or all of your positions may be maybe liquidated. You are not entitled to prior notice, by way of margin call or otherwise, before Clearing Firm sells (or buys in for short positions) any securities in your Account when your Account fails falls below Clearing Firm's ’s margin maintenance requirements or under any other circumstances in which Clearing Firm may sell securities in your Account or cancel open orders. In addition, even if we have contacted you and provided a date by which you must deposit additional funds into your Account, Clearing Firm may still, at its sole discretion, sell (or buy in for short positions) any securities in your Account or cancel any open orders without additional notice. Under any circumstances in which Clearing Firm may sell securities in your Account, you are not entitled to choose which securities are sold. You represent that, with respect to securities against which credit is or may be extended by Clearing Firm; that you do not control, are not controlled by, and are not under common control with, the issuer of such securities.