Purpose of Initial Margin Sample Clauses

Purpose of Initial Margin. Initial Margin is intended to maintain the relative value of the funds to be purchased from or sold to AFEX pursuant to an Option or Forward Contract or to address, in AFEX’s sole discretion, an adverse change in Client’s financial standing and/or credit worthiness or an adverse change in the external economic environment. Client acknowledges and agrees that the amount of Initial Margin will be determined by AFEX in its sole and reasonable discretion, subject to the total of any such payments being less than or equal to the total payment obligation owed to AFEX with respect to the relevant Option or Forward Contract, and that AFEX may require Initial Margin to be made even if AFEX has provided Client with a Facility. Any Initial Margin delivered by Client and received by AFEX are non-refundable and will be applied to satisfy Client’s total payment obligation owed to AFEX with respect to the relevant Option Contract or Forward Contract on the Value Date or on the date of any final Draw Down or any other amount permitted by this Agreement.
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Related to Purpose of Initial Margin

  • Purpose of Loans The proceeds of the Loans shall be used to finance the working capital and general corporate needs of the Borrower and its Subsidiaries, including but not limited to acquisitions.

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data

  • Purpose of Loan The Borrower undertakes with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • Purpose of the Loan The Borrowers undertake with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • Purpose of Use The Executive agrees that he will use Confidential Information only for purposes authorized or directed by the Company.

  • Purpose of Fee If an employee does not become a member of the Association during any membership year (i.e., from September 1 to the following August 31) which is covered in whole or in part by this Agreement, said employee will be required to pay a representation fee to the Association for that membership year. The purpose of this fee will be to offset the employee’s per capita cost of services rendered by the Association as majority representative.

  • Purpose of Evaluation 10.1.1 It is recognized that a system of evaluation is essential to assist Unit Members in developing competency and realizing their potential. It is further recognized that information gathered through such a system will enable decisions that measure a Unit Member’s performance in a just and equitable manner.

  • PURPOSE OF THE CONTRACT DSHS agrees to purchase, and Contractor agrees to provide, services or goods to the eligible populations.

  • Purpose of the Agreement ‌ The purpose of this Agreement is to authorize PDL NPDL to charter space to PFLG in the Trade (as hereinafter defined).

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.

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