Minimum Net Equity. If Customer fails to maintain in its Accounts cash and securities with a ready market in an amount equal to or exceeding the minimum net equity required for prime brokerage customers under the SEC Letter for Customer (the “Minimum Net Equity”), and Customer does not bring its Accounts into compliance in accordance with Applicable Law, BNPP PB shall notify all Executing Brokers of this event and may be required by the SEC Letter to DK any transaction effected for Customer by an Executing Broker without notice to Customer, in which case all transactions of Customer for that day will be DK’d. BNPP PB will send a cancellation notification to Customer to offset the prior notification sent pursuant to Section 1(b) and Customer must settle outstanding trades directly with the Executing Brokers. “SEC Letter” means the Securities and Exchange Commission No-Action letter, dated January 25, 1994, relating to prime brokerage, as amended, supplemented, modified or replaced from time to time.
Minimum Net Equity. If Customer fails to maintain in its Accounts cash and securities with a ready market in an amount equal to or exceeding the minimum net equity required for prime brokerage customers under the SEC Letter for Customer (the “Minimum Net Equity”), and Customer does not bring its Accounts into compliance in accordance with Applicable Law, BAS shall notify all Executing Brokers of this event and may be required by the SEC Letter to DK any transaction effected for Customer by an Executing Broker without notice to Customer, in which case all transactions of Customer for that day will be DK’d. BAS will send a cancellation notification to Customer to offset the prior notification sent pursuant to Section 1(b) and Customer must settle outstanding trades directly with the Executing Brokers. “SEC Letter” means the Securities and Exchange Commission No-Action letter, dated January 25, 1994, relating to prime brokerage, as amended, supplemented or modified from time to time.
Minimum Net Equity. If Customer fails to maintain in its Accounts cash and securities with a ready market in an amount equal to or exceeding the minimum net equity required for prime brokerage
Minimum Net Equity. If Customer fails to maintain in its Accounts cash and securities with a ready market in an amount equal to or exceeding the minimum net equity required for prime brokerage customers under the SEC Letter for Customer (the “Minimum Net Equity”), and Customer does not bring its Accounts into compliance in accordance with Applicable Law, BNPP PB shall notify all Executing Brokers of this event and may be required by the SEC Letter to DK any transaction effected for Customer by an Executing Broker without notice to Customer, in
Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with GS&Co. of that required in the No-Action Letter (or such greater amount as to which GS&Co. may from time to time inform Client). Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon GS&Co.’s request, promptly (but no later than within five (5) business days of such request) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require GS&Co. promptly to inform Executing Brokers that GS&Co. is no longer acting as prime broker for Client and that GS&Co. will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by GS&Co., will permit GS&Co., in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.
Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with GS&Co. of that required in the No-Action Letter. Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon GS&Co.’s request, promptly (but no later than within five (5) business days) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require GS&Co. promptly to inform Executing Brokers that GS&Co. is no longer acting as prime broker for Client and that GS&Co. will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by GS&Co., will permit GS&Co., in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.
Minimum Net Equity. The Minimum Net Equity as of the Closing Date shall not be less than $40,773,519; provided, however, if the Closing shall not have occurred on or before July 15, 2000, Minimum Net Equity shall be computed as of the end of the calendar month immediately preceding the date on which the Closing occurs.
Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with of that required in the No-Action Letter (or such greater amount as to which may from time to time inform Client). Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon request, promptly (but no later than within five (5) business days) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require promptly to inform Executing Brokers that is no longer acting as prime broker for Client and that will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by, will permit, in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.
Minimum Net Equity. Client shall, at all times, maintain in the Account a minimum net equity with Clearing Firm of that required in the No-Action Letter (or such greater amount as to which Clearing Firm may from time to time inform Client). Client shall maintain such minimum net equity in cash or securities with a ready market and shall, upon Clearing Firm’s request, promptly (but no later than within five (5) business days of such request) restore such net equity if it should fall below such minimum. Client understands and agrees that failure to maintain a minimum net equity at least equal to that required by the No-Action Letter will require Clearing Firm promptly to inform Executing Brokers that Clearing Firm is no longer acting as prime broker for Client and that Clearing Firm will “DK” or disaffirm any Prime Brokerage Transactions commenced thereafter by or on behalf of Client. In addition, Client acknowledges that failure to maintain a minimum net equity at least equal to that established by Clearing Firm, will permit Clearing Firm, in its sole discretion, to “DK” or disaffirm Prime Brokerage Transactions by or on behalf of Client.
Minimum Net Equity. If Customer fails to maintain in its Accounts cash and securities with a ready
