Common use of Margin Loans Clause in Contracts

Margin Loans. The Investor irrevocably appoints ▇▇▇▇▇▇▇ and each Authorised Attorney to carry out the following in relation to the Investor’s margin loan(s): a. Act as an authorised representative; b. Draw and repay funds as required; and c. Nominate shares, investments in managed funds and/or cash as security for the margin loan as required. This includes but i s not limited to all shares, managed funds and cash associated with the margin loan either directly or through any cash management account or trust. This authorisation operates in conjunction with previous appointments of authorised representatives. ▇▇▇▇▇▇▇ is not liable for any failure to repay funds to the margin loan account or any failure to nominate shares, investments in managed funds or cash as security for the margin loans. 6.1 Withdrawals and Deposits The Investor can request a withdrawal by giving ▇▇▇▇▇▇▇ written notice. ▇▇▇▇▇▇▇ will comply with the request as soon as practicable and in any event within 6 Business Days after the request is received by ▇▇▇▇▇▇▇. The Investor can give more money to ▇▇▇▇▇▇▇ to form part of the Portfolio and management under this agreement from time to time, but is not obliged to. Dividends, distributions and other income earned in respect of the Portfolio (including realised capital gains) will not be distributed to the Investor, but will be reinvested in the Portfolio. ▇▇▇▇▇▇▇ must not extend credit to the Investor for investment. Custodian Services a. If any of the assets in the Portfolio are held in custody this clause 6 applies. b. ▇▇▇▇▇▇▇ will not permit the Investor’s Portfolio to be pooled with any other assets to enable an investment to be made or made on more favourable terms. c. ▇▇▇▇▇▇▇ confirms the assets of the Investor’s Portfolio: i are held: a. in trust for the Investor, or b. in trust for the Investor and other Investors of Private Portfolio Account services provided under a managed investment scheme that Wilsons operates; or c. in trust for ▇▇▇▇▇▇▇ who holds the beneficial interest in trust for the Investor; or d. in accordance with the operating rules of a licensed market, in an investor segregated account operated by a participant of that market where the participant is required to call margins from an Investor under those rules; and ii unless held in accordance with subparagraph (i)(D), are held separately from the assets of ▇▇▇▇▇▇▇ and any person acting on its behalf and any Investor other than the Investor and any other person, except for: a. cash (including foreign currency); and b. accounts and deposits with an Australian ADI or other financial institution; and c. securities as defined in subsection 92(I) of the Corporations Act; and d. derivatives (but not including a chattel or real property mortgage); and e. an interest arising from an ‘Eligible SELECT Master Agreement’ within the meaning given in ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968 or any Instrument that replaces it, where ▇▇▇▇▇▇▇: (1) ensures that it or, if another entity is the entity holding the Investor’s Portfolio, that entity, performs regular reconciliation procedures appropriate to the nature of the asset; and (2) reasonably considers that holding the Investor’s Portfolio separately would not be in the best interests of the Investor; and: iii that are monies held with a person carrying on a banking business, are held in an account that complies with section 981B of the Corporations Act; and iv are clearly identified as the Investor’s Portfolio.