Common use of Margin Loan Clause in Contracts

Margin Loan. a. Velocity may from time to time make a Margin Facility available to the Customer, subject to these Margin Facility Terms. b. The Customer may, in writing, request a Margin Facility from time to time. Notwithstanding such request, it shall be within the discretion of Velocity to grant the Margin Facility to the Customer. c. The value of the Margin Facility available for the Transaction shall be notified to the Customer prior to the execution of the Transaction. d. Velocity may, without prior notice, from time to time reduce or cancel a Margin Facility or refuse to grant any additional Margin Facility to the Customer. e. If Velocity reduces or cancels a Margin Facility, the Customer shall be responsible to make immediate payment of the Margin in respect of the relevant Transaction f. Interest shall accrue on the Margin Facility at the rate and on the terms set out in the relevant Product Information Sheet. g. Without limiting Velocity’s rights in terms of paragraph d, the Margin Facility together with interest thereon shall be paid on the date on which the Securities that are the subject of the Margin Facility are sold. h. Upon submitting a request for a Margin Facility, the Customer acknowledges that he has read and understood the terms and conditions applicable to the Margin Facility, including all Product Information Sheets related thereto. i. Notwithstanding paragraph g above, no payments shall be made to the Customer in respect of the Account, which payments could result in the value of the Collateral being insufficient in respect of the Indebtedness, as determined by Velocity.