Bep liquidating

In default of payment, such monies shall be deemed to form part of the Indebtedness. Suspense and New or Separate Account Any money received in relation to the Facility may be placed or kept to the credit of a suspense account for so long as the Bank thinks fit without any obligation in the meantime to apply the same or any part thereof in or towards the discharge of any money or liabilities due or incurred by the Customer to the Bank.

Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy liquidation or arrangement the Bank may prove for and agree to accept any profit or composition in respect of the whole or any part of such money and liabilities in the same manner as if these Terms and Conditions. Disclosure to Central Credit Unit The Bank, and its servants or nominees may, at any time and the Customer hereby consents to the same irrevocably, release information relating to the Customer in respect of the Facility and/or the Indebtedness to Bank Negara Malaysia’s Central Credit Unit or to any other approved agencies or in compliance with the laws of Malaysia and the Customer shall be deemed to have agreed to such disclosure. Disclosure to related companies etc The Customer hereby agrees that as long as the Indebtedness continues and/or as long as any monies are due from the Customer to the Bank, the Bank shall be entitled to disclose information on the Facility and/or the Indebtedness and/or the business of the Customer with the Bank to companies which are or which in the future may be related to the Bank. Changes in Circumstances If any change in applicable law, regulation or regulatory requirement or in the interpretation or application thereof or if compliance by the Bank with any applicable direction, request or requirement (whether or not having the force of law) or any governmental or other authority shall result in imposing on the Bank any condition burden or obligation which renders it undesirable, in the absolute opinion of the Bank, to make available or maintain the Facility, then upon notice from the Bank, the Facility shall be deemed to be cancelled in which event the Customer shall pay to the Bank the Indebtedness within seven (7) days from the receipt by the Customer of such notice. Invalidity of any Provision Any provision of these Terms and Conditions which is invalid, unenforceable or prohibited shall not affect the validity or enforceability of the other provisions of these Terms and Conditions. Force Majeure Notwithstanding any provision of these Terms and Conditions, the Bank shall not be liable for any failure on the part of the Bank to perform any obligation under these Terms and Conditions resulting directly or indirectly from the action or inaction of any governmental or local authority or any strike, boycott, blockade, act of God, civil disturbance or cause beyond the control of the Bank. Ta’widh (Compensation) It is hereby agreed that the Customer shall pay the Bank, by way of Ta’widh (compensation), a sum equivalent to one per centum (1%) per annum of the overdue instalment(s) until date of full payment and/or settlement thereof or a sum equivalent to the prevailing Islamic Interbank Money Market Rate of the Bank’s ‘r’ rate (i.e. Any demand notice request or legal process required or permitted to be given or made under these Terms and Conditions to the Bank or to the Customer shall be in writing and in the case of the Bank shall be under the hand of any Manager or any authorised officer of the Bank or a solicitor or firm of solicitors purporting to act for the Bank. Any such demand notice request or legal process shall be deemed to have been sufficiently given or made if sent by ordinary or registered post sent to the respective address of the parties hereto and shall be deemed to have been served on and duly received by the other party or parties after the expiration of five (5) days from the date it is posted or if delivered by hand or send by courier to the party to be served on his or its solicitors, on the day it was delivered. No change in the address of the Customer howsoever brought about shall be effective or binding on the Bank unless the Customer has given to the Bank actual notice in writing of the change of address and nothing done in reliance on this provision shall be affected or prejudiced by any subsequent change in the address of the Customer over which the Bank has no actual knowledge of at the time the act or thing was done or carried out. Security (if applicable) 35.1 The Security For better securing the payment of the Indebtedness or any part thereof as shall be outstanding and all other moneys whatsoever now or hereafter owing to the Bank by the Customer, the Customer and/or the Security Party shall provide the Security and execute or procure the execution of the Security Documents by the Security Party.

It’s difficult to justify pulling the buy trigger when the stock price was 10% less a few months earlier.

Having said that, we’re not quibbling over eights and quarters.

Margin call is issued once the total collateral in the margin account falls below the outstanding balance.

The stock market has rallied quite a bit lately compared to the beginning of 2016.

This meant that some of the stocks we’ve been monitoring have increased in stock price.

by written notice to the Customer declare the Indebtedness immediately due and payable; and 19.

enforce any or all of the remedies available to it. Any demand notice request or legal process required or permitted to be given or made under these Terms and Conditions to the Bank or to the Customer shall be in writing and in the case of the Bank shall be under the hand of any Manager or any authorised officer of the Bank or a solicitor or firm of solicitors purporting to act for the Bank. Any such demand notice request or legal process shall be deemed to have been sufficiently given or made if sent by ordinary or registered post sent to the respective address of the parties hereto and shall be deemed to have been served on and duly received by the other party or parties after the expiration of five (5) days from the date it is posted or if delivered by hand or send by courier to the party to be served on his or its solicitors, on the day it was delivered. No change in the address of the Customer howsoever brought about shall be effective or binding on the Bank unless the Customer has given to the Bank actual notice in writing of the change of address and nothing done in reliance on this provision shall be affected or prejudiced by any subsequent change in the address of the Customer over which the Bank has no actual knowledge of at the time the act or thing was done or carried out. Concurrent Remedies It is expressly agreed and declared that upon the occurrence of an Event of Default, the Bank shall thereafter have the right to exercise all or any of the remedies available whether under these Terms and Conditions or by statute or otherwise and shall be entitled to exercise such remedies concurrently including pursuing and completing all remedies of sale or possession and a civil action to recover all monies due and owing to the Bank. Deficiency in Proceeds If the amount realised by the Bank on the sale, assignment and/ or transfer of the asset of the Customer or any part thereof is less than the Indebtedness and whether at such sale, assignment and/ or transfer the Bank is the purchaser or otherwise, the Customer shall pay on demand to the Bank the difference between the amount due and the amount so realised. Right of Consolidation and Set off (Muqassah) Following an Event of Default, the Customer agrees that the Bank may in its absolute discretion at anytime and with reasonable notice combine or consolidate all or any account(s) of the Customer including accounts in the name of the Bank and / or of the Customer (whether current, deposit, investment, financing or of any other nature whatsoever) with the liabilities, wheresoever situated as set-off towards satisfaction of any sum due to the Bank under this Terms and Conditions.

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The rights and remedies herein provided are cumulative and not exclusive of any other rights or remedies provided by law. Time Time wherever mentioned shall be of the essence of these Terms and Conditions. Full Payment Notwithstanding anything to the contrary contained herein, it is hereby agreed that on the satisfaction by payment or otherwise of the Indebtedness all the provisions herein contained shall cease to be of any effect but without prejudice to the Bank’s rights and remedies against the Customer in respect of any antecedent claim or breach. Reconstruction of the Bank and the Customer The securities, rights, liabilities, obligations created pursuant to these Terms and Conditions shall continue to be valid and binding for all purposes whatsoever notwithstanding any change by amalgamation, re‑construction or otherwise which may be made in the constitution of the Bank and similarly the liabilities and/or obligations created by these Terms and Conditions shall continue to be valid and binding for all purposes whatsoever notwithstanding any change by amalgamation, reconstruction or otherwise howsoever in the constitution of the Customer and it is expressly declared that no change of any sort whatsoever in relation to or affecting the Customer shall in any way affect the security liabilities and/or obligations created hereunder in relation to any transaction whatsoever whether past, present or future. Indulgence The liability and obligations of the Customer shall not be impaired or discharged by reason of any time forbearance or other indulgences being granted by or with the consent of the Bank to the Customer or to any person who or which may be in any way liable to pay any of the monies secured hereby or by any other security in favour of the Bank or by reason of any arrangement being entered into or composition accepted by the Bank modifying the operation of law or otherwise the rights and remedies of the Bank under these Terms and Conditions. Variation of Terms It is hereby expressly agreed and declared by the parties hereto that if the parties do mutually agree to vary or amend the terms and/or conditions of these Terms and Conditions, the terms and/or conditions of these Terms and Conditions may at any time and from time to time be varied or amended by mutual consent of the parties hereto by means of a mutual exchange of letters and thereupon such amendments and variations shall be deemed to become effective and the relevant provisions of these Terms and Conditions shall be deemed to have been amended or varied accordingly and shall be read and construed as if such amendments and variations had been incorporated in and had formed part of these Terms and Conditions at the time of execution hereof provide always that notwithstanding anything to the contrary hereinbefore contained in this Clause, the Bank shall nevertheless, to the extent permitted by law, be entitled at its absolute discretion to vary or amend the terms and/or conditions of these Terms and Conditions by notice in writing to the Customer and such amendments and variations shall have similar effect as those hereinbefore referred to in this Clause and nothing herein shall be construed so as to restrict or curtail or prejudice any of the rights of the Bank herein to vary or amend the terms and/or conditions without the necessity to obtain the Customer’s consent or confirmation. All undertakings, agreements, representations and warranties given, made or entered into by the Customer under these Terms and Conditions shall survive the making of any assignments thereunder. Costs and Expenses The Customer shall bear all stamp duties, fees, costs and expenses incurred in connection with or incidental to the Facility and/or the Bank’s solicitors’ fees (on a solicitors and client basis).

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