Common use of Variation Margin Requirement Clause in Contracts

Variation Margin Requirement. If Cambridge determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as Cambridge may advise, of the notional value of the open Orders, Client is required to post Variation Margin with Cambridge as stated in the Margin Call issued by Cambridge. Each time the net market value of all of Client’s open Orders declines and the unrealized loss when marked to market further increases, Cambridge may issue a Margin Call whereby Client is required to post with Cambridge 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 Cambridge issues Margin Call to Client.

Variation Margin Requirement. If Cambridge determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as Cambridge may advise, of the notional value of the open Orders, Client is required to post Variation Margin with Cambridge as stated in the Margin Call issued by Cambridge. Each time the net market value of all of Client’s open Orders declines and the unrealized loss when marked to market further increases, Cambridge may issue a Margin Call whereby Client is required to post with Cambridge additional Variation Margin in the amount stated in the Margin Call within one 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 Cambridge issues Margin Call to Client.