Common use of Account Documentation Clause in Contracts

Account Documentation. Correspondent will be responsible for obtaining and verifying all required information and the identity of each potential Customer. Correspondent will be responsible for obtaining and furnishing to Southwest all customary and necessary documents related to Customer Accounts and Correspondent Accounts, and such other documentation as Southwest may reasonably require from time to time, all in such form as shall be reasonably acceptable to Southwest. Correspondent also will be responsible for the transmissions of all required documents to Southwest on a timely basis, but in any event within seven (7) days after a request to open an account is made to Southwest. Correspondent acknowledges its obligations to retain all documents in an easily accessible place in accordance with any applicable rules and regulations of regulatory or self-regulatory agencies or bodies, and Correspondent agrees to provide original documents by overnight delivery or a legible copy by facsimile transmission of such documents within twenty-four (24) hours of a request from Southwest. Correspondent will be responsible for complying with the requirement of SEC 15c2-5, if applicable.

Account Documentation. Correspondent will be responsible for obtaining and verifying all required information and the identity of each potential Customer. Correspondent will be responsible for obtaining and furnishing to Southwest all customary and necessary documents related to Customer Accounts and Correspondent Accounts, and such other documentation as Southwest may reasonably require from time to time, all in such form as shall be reasonably acceptable to Southwest. Correspondent also will be responsible for the transmissions of all required documents to Southwest on a timely basis, but in any event within seven (7) days after a request to open an account is made to Southwest. Correspondent acknowledges its obligations to retain all documents in an easily accessible place in accordance with any applicable rules and regulations of regulatory or self-regulatory agencies or bodies, and Correspondent agrees to provide original documents by overnight delivery or a legible copy by facsimile transmission of such documents within twenty-four (24) hours of a request from Southwest. Correspondent will be responsible for complying with the requirement of SEC Rule 15c2-5, if applicable.. 2