Common use of Margining Clause in Contracts

Margining. The Securities lent by the Client to ZERO Securities Pty Ltd, and any Cash Collateral provided by ZERO Securities Pty Ltd to the Client, is subject to margining as calculated for the purposes of the Client’s Account with ZERO Securities Pty Ltd and not discretely for each loan of Securities. Accordingly: (a) ZERO Securities Pty Ltd may from time to time allocate values to the Securities in respect of all loans outstanding under these Terms from day to day and may change those values at any time, including any number of times throughout any day and including giving a zero or other percentage allocation of a market value; (b) ZERO Securities Pty Ltd may adjust the corresponding amount of any credit for Cash Collateral provided by ZERO Securities Pty Ltd to the Client and any Fees accrued in respect of that Cash Collateral; (c) your default in performing any of its obligations to ZERO Securities Pty Ltd under the Terms in this Schedule 2 will constitute a Default under these Terms (without having to be specified in the general terms).