From The Jolly Contrarian
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Rehypothecation: You agree that we may use your non-cash Client Margin to satisfy margin required from us by an Eligible Transferee with respect to our client clearing business by transferring such margin to the Eligible Transferee by way of absolute transfer, whereupon such non-cash margin will become the absolute property of the Eligible Transferee, free from any security interest under this Agreement and from any equity, right, title or interest of yours. Upon any such rehypothecation by us you will have a right against us for the delivery of property, cash or securities of an identical type, nominal value, description and amount to the rehypothecated non-cash margin, which, upon being delivered back to you, will become subject to the provisions of this Agreement. We agree to credit to you, as soon as reasonably practicable following receipt by us and as applicable, a sum of money or property equivalent to (and in the same currency as) the type and amount of income (including interest, dividends or other distributions whatsoever with respect to the non-cash margin) that would be received by you in respect of such non-cash margin assuming that such non-cash margin was not rehypothecated by us and was retained by you on the date on which such income was paid, subject to relevant deductions and withholding and the exercise of any of our rights under this Agreement. You acknowledge and agree that you are responsible for reclaiming any withholdings or deductions from any relevant fiscal authorities.