Common use of Margin Agreements Clause in Contracts

Margin Agreements. At the time of opening of each margin account, CLAY will furnish FSWC with an FSWC Customer Margin and Short Account Agreement, executed by the Customer, on the form furnished to CLAY by FSWC. As to any Account, until CLAY has furnished FSWC with an executed margin agreement, FSWC may, at its discretion, re-book any transactions initially cleared as a margin transaction to be a cash transaction, liquidate the Account or take any other action FSWC deems necessary.