Common use of Margin Agreements Clause in Contracts

Margin Agreements. At the time of opening any margin Account with Apex, Correspondent will furnish Apex with an Apex Customer Margin and Short Account Agreement, executed by Correspondent, on the form furnished to Correspondent by Apex. Apex may, but is not required to, permit Correspondent to purchase securities on margin. Correspondent shall obtain a margin and short agreement with each underlying customer of Correspondent prior to allowing any customer to trade on margin in an Account and Correspondent shall abide by all applicable laws in extending margin to any customer. Apex shall have no obligations with respect to any underlying customer of Correspondent, and Correspondent agrees and acknowledges Apex shall treat each Account as one individual account for Regulation T and other purposes with respect to the extension of margin.