Common use of Account Fee Clause in Contracts

Account Fee. Active direct $14.00 per account per annum Active NSCC Level III $ 9.00 per account per annum Inactive Account: $ 2.00 per account per annum Fees shall be calculated and paid monthly based on one-twelfth (1/12th) of the annual fee. An inactive account is defined as having a zero balance with no dividend payable. Inactive/closed accounts that have been inactive/closed for at least 18 months are generally purged at least annually and, at MNA’s discretion, may be purged more frequently, as many as three times per year. Fees will not be prorated. Any part of a month for which services are provided will be billed as a full month.