Examples of Securities Account Agreement in a sentence
While the leverage described above presents opportunities for increasing total return, it has the effect of potentially increasing losses as well subject to limited recourse and non-petition provisions contained in a side letter to the Securities Account Agreement from the Securities Account Provider to the Issuer, Trustee, and Broker Dealer of Record for the benefit of the Issuer.
The Securities Account Provider may, whenever it deems it desirable or for the Securities Account Provider’s protection, sell any or all securities or related contracts in (i) the Securities Account or (ii) the IB Master Account, or buy any securities or related contracts relating thereto, in order to close out in whole or in part any obligations of the Issuer pursuant to the Securities Account Agreement or the IB Master Securities Account Agreement, respectively.
The Securities Account is established pursuant to (a) the Securities Account Agreement entered into between the Issuer and the Securities Account Provider; and (b) a side letter to the Securities Account Agreement entered into between (i) the Issuer, (ii) the Trustee, (iii) the Broker Dealer of Record and (iv) the Securities Account Provider.
The Securities Account Provider has the right to purchase for its own account any or all of the aforesaid property at such sale, discharged of any right of redemption.A “ Securities Account Default” refers to the Issuer being in default under the Securities Account Agreement, and would include the Issuer being in breach of its obligations pursuant to the Securities Account Agreement, the Issuer becoming insolvent or if analogous proceedings are instituted against the Issuer.
The Securities Account Provider takes such security interests as security for its fees, credit, costs and expenses pursuant to the Securities Account Agreement and IB Master Securities Account Agreement, as well as all its reasonable costs and expenses incurred in the collection of any debit balance or unpaid deficiency in the Securities Account or IB Master Account, including, but not limited to, attorneys’ fees.