Common use of MARGIN COVER Clause in Contracts

MARGIN COVER. 30.1 The Client’s obligation to monitor and maintain the Loan amount and the Margin Ratio will be governed by the following provisions: 30.1.1 the Client is required to (i) monitor and maintain at all times the Loan not to exceed the Margin Limit and the Margin Ratio at such level determined by uSMART SG to be satisfactory, (ii) satisfy the Margin Alert/Notification recommended by uSMART SG from time to time, and (iii) to avoid the possibility of a liquidation pursuant to Event of Default set out in Clause 33.5; 30.1.2 the Client is solely responsible for contacting uSMART SG from time to time to ensure that the Client is informed of the Margin Limit, the Margin Ratio in respect of the Charged Securities and the status relating to Margin Alert/Notification; and 30.1.3 uSMART SG is entitled to exercise its rights under Clause 30.3 to sell or dispose of the Charged Securities even if (i) uSMART SG has not given the Client a Margin Alert/Notification, or (ii) uSMART SG has not been promptly notified of the satisfaction of a Margin Alert/Notification by the Client. Subject to Clause 36.1.8, uSMART SG is not liable to the Client for such sale or disposal.