Common use of Variation Margin Requirement Clause in Contracts

Variation Margin Requirement. If Corpay Singapore determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealised loss when marked to market exceeds 10% or an alternative percentage or fixed amount as Corpay Singapore may advise, of the notional value of the open Orders, Client is required to post Variation Margin as stated in the Margin Call issued by Corpay Singapore. Each time the net market value of all of Client’s open Orders declines and the unrealised loss when marked to market further increases, Corpay may issue a Margin Call whereby Client is required to post additional Variation Margin in the amount stated in the Margin Call within one (1) clear Business Day. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day Corpay Singapore issues the Margin Call to Client.