Common use of Trading Rules Clause in Contracts

Trading Rules. a. If the Margin line is suspended or deemed terminated at any time, the Client shall settle in full all of the ▇▇▇▇▇▇▇▇ sent by COL for the payment of any debit balance and/or other obligations under the Margin Account. b. Upon receipt of notice of the suspension or termination of the Margin line, the Client shall discharge the Client’s obligations by infusing additional funds, depositing Marginable Securities, or placing an order with COL to sell a sufficient amount of the indentured securities to cover such obligations; Provided, however, that if such sale is not executed on the trading day after termination of the Margin line, or when the net proceeds of such sale are insufficient, then the Client shall pay upon billing the entire remaining obligations. c. All securities purchased under this Margin line shall be placed in street name. d. COL and/or the Executing Broker do not have to notify the Client of any failure to meet the margin requirements prior to exercising their rights. The Client acknowledges that COL and/or the Executing Broker generally will not issue margin calls; generally will not credit the Client’s account to meet intraday or overnight margin deficiencies; and is authorized to liquidate account positions in order to satisfy the margin requirements without prior notice. e. If at any time the Client’s Margin Account has insufficient equity to meet the margin requirements or is in deficit, COL and/or the Executing Broker have the right, in their sole discretion, but not the obligation, to liquidate all or any part of the Client’s positions in any of the Client’s Accounts, individual or joint, at any time and in any manner and through any market or dealer, without prior notice or margin call to the Client. The Client shall be liable and will promptly pay COL for any deficiencies in the Margin Account that arise from such liquidation or remain after such liquidation. COL and the Executing Broker have no liability for any loss sustained by Client in connection with such liquidations (or if the system delays effecting, or does not effect, such liquidations) even if the Client re-establishes its position at a worse price. f. COL and/or the Executing Broker may allow the Client to pre-request the order of liquidation in event of a margin deficiency, but such requests are not binding on COL and/or the Executing Broker who retain sole discretion to determine the assets to be liquidated and the order/manner of liquidation. COL and/or the Executing Broker may liquidate through any market or dealer, and COL, the Executing Broker, or any of their affiliates may take the other side of the transactions consistent with laws and regulations. If COL and/or the Executing Broker liquidate any/all positions in the Client’s Margin Account, such liquidation shall establish the Client’s gain/loss and remaining indebtedness to COL and/or the Executing Broker, if any. The Client shall reimburse and hold COL and the Executing Broker harmless for all actions, omissions, costs, fees (including, but not limited to, attorney's fees), or liabilities associated with any such transaction undertaken by COL and/or the Executing Broker, as applicable. If COL and/or the Executing Broker execute an order for which the Client did not have sufficient equity, COL and/or the Executing Broker have the right, without notice, to liquidate the trade and the Client shall be responsible for any resulting loss and shall not be entitled to any resulting profit. g. If COL and/or the Executing Broker do not, for any reason, liquidate under-margined positions, and issues a margin call, the Client must satisfy such call immediately by depositing funds. The Client acknowledges that even if a call is issued, COL and/or the Executing Broker may still liquidate positions at any time. h. The Client acknowledges that the COL and/or the Executing Broker have the right to liquidate all or part of the Client's positions without prior notice: (i) if any dispute arises concerning any Transaction, or (ii) whenever COL and/or the Executing Broker deem that liquidation necessary or advisable for their protection.