Common use of Deposited cash and property Clause in Contracts

Deposited cash and property. In particular, in the event of a firm insolvency or bankruptcy, you should be familiar with the protections granted to money or other property you deposit for domestic and foreign transactions and/or contracts. Specific legislation or local rules may govern the extent to which you can recover your money or property. In some jurisdictions, in the case of a shortfall, property that has been specifically identifiable as your own will be pro-rated in the same way as cash for distribution purposes. The deals and/or contracts that you enter into with us are NOT traded on an exchange. Therefore, your funds may NOT receive the same protections under applicable bankruptcy laws as funds used to margin or guarantee exchange traded transactions and/or contracts that may receive a bankruptcy priority. Since funds used for transactions and/or contracts in the over-the- counter ( OTC ) market have NOT been given the same priority, if we were to become insolvent and you have a claim for amounts deposited or profits earned on transactions and/or contracts with us, your claim may not be given priority. Without priority, you are a general creditor and your claim will be paid from any funds still available after priority claims are paid, along with the claims of other general creditors. In these circumstances, even the client money we keep separate from our own operating funds may NOT be safe from the claims of other general and priority creditors in all instances.

Appears in 1 contract

Samples: Client Agreement

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Deposited cash and property. In particular, in the event of a firm insolvency or bankruptcy, you You should be familiar familiarize yourself with the protections granted accorded to money or other property you deposit for domestic and foreign transactions Transactions and/or contractsContracts, particularly in the event of a firm insolvency or bankruptcy. Specific legislation or local rules may govern the The extent to which you can may recover your money or propertyproperty may be governed by specific legislation or local rules. In some jurisdictions, in the case of a shortfallproperty, property that which has been specifically identifiable as your own own, will be pro-rated in the same way manner as cash for purposes of distribution purposesin the event of a shortfall. The deals Transactions and/or contracts that Contracts you enter are entering into with us are NOT traded on an exchange. Therefore, under applicable bankruptcy laws, your funds may NOT receive the same protections under applicable bankruptcy laws as funds used to margin Margin or guarantee exchange exchange-traded transactions Transactions and/or contracts that contracts, which may receive a bankruptcy prioritypriority in bankruptcy. Since that same priority has NOT been given to funds used for transactions Transactions and/or contracts Contracts in the overOver-the- counter ( OTC the-Counter (OTC) market have NOT been given the same priorityMarket, if we were to become insolvent and you have a claim for amounts deposited or profits earned on transactions Transactions and/or contracts Contracts with us, us your claim may not be given receive priority. Without priority, you are a general creditor and your claim will be paid from any funds still available after priority claims are paid, along with the claims of other general creditors, from any monies still available after priority claims are paid. In these circumstances, even the client money Client Funds, which we keep separate separated from our own operating funds funds, may NOT in all instances be safe from the claims of other general and priority creditors in all instancescreditors.

Appears in 1 contract

Samples: Client Agreement

Deposited cash and property. In particular, in the event of a firm insolvency or bankruptcy, you should be familiar with the protections granted to money or other property you deposit for domestic and foreign transactions and/or contracts. Specific legislation or local rules may govern the extent to which you can recover your money or property. In some jurisdictions, in the case of a shortfall, property that has been specifically identifiable as your own will be pro-rated in the same way as cash for distribution purposes. The deals and/or contracts that you enter into with us are NOT traded on an exchange. Therefore, your funds may NOT receive the same protections under applicable bankruptcy laws as funds used to margin or guarantee exchange traded transactions and/or contracts that may receive a bankruptcy priority. Since funds used for transactions and/or contracts in the over-the- the counter ( OTC (OTC) market have NOT been given the same priority, if we were to become insolvent and you have a claim for amounts deposited or profits earned on transactions and/or contracts with us, your claim may not be given priority. Without priority, you are a general creditor creditor, and your claim will be paid from any funds still available after priority claims are paid, along with the claims of other general creditors. In these circumstances, even the client money we keep separate from our own operating funds may NOT be safe from the claims of other general and priority creditors in all instances.

Appears in 1 contract

Samples: Client Agreement

Deposited cash and property. In particular, in the event of a firm insolvency or bankruptcy, you You should be familiar familiarize yourself with the protections granted accorded to money or other property you deposit for domestic and foreign transactions Transactions and/or contractsContracts, particularly in the event of a firm insolvency or bankruptcy. Specific legislation or local rules may govern the The extent to which you can may recover your money or propertyproperty may be governed by specific legislation or local rules. In some jurisdictions, in the case of a shortfallproperty, property that which has been specifically identifiable as your own own, will be pro-rated in the same way manner as cash for purposes of distribution purposesin the event of a shortfall. The deals Transactions and/or contracts that Contracts you enter are entering into with us are NOT traded on an exchange. Therefore, under applicable bankruptcy laws, your funds may NOT receive the same protections under applicable bankruptcy laws as funds used to margin Margin or guarantee exchange exchange-traded transactions Transactions and/or contracts that contracts, which may receive a bankruptcy prioritypriority in bankruptcy. Since that same priority has NOT been given to funds used for transactions Transactions and/or contracts Contracts in the overOver-the- counter ( OTC the-Counter (OTC) market have NOT been given the same priorityMarket, if we were to become insolvent and you have a claim for amounts deposited or profits earned on transactions Transactions and/or contracts Contracts with us, us your claim may not be given receive priority. Without priority, you are a general creditor and your claim will be paid paid, along with the claims of other general creditors, from any funds still available after priority claims are paid, along with the claims of other general creditors. In these circumstances, even the client money Client Funds, which we keep separate separated from our own operating funds funds, may NOT in all instances be safe from the claims of other general and priority creditors in all instancescreditors.

Appears in 1 contract

Samples: Client Agreement

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Deposited cash and property. In particular, in the event of a firm insolvency or bankruptcy, you You should be familiar familiarize yourself with the protections granted accorded to money or other property you deposit for domestic and foreign transactions Transactions and/or contractsContracts, particularly in the event of a firm insolvency or bankruptcy. Specific legislation or local rules may govern the The extent to which you can may recover your money or propertyproperty may be governed by specific legislation or local rules. In some jurisdictions, in the case of a shortfallproperty, property that which has been specifically identifiable as your own own, will be pro-rated in the same way manner as cash for purposes of distribution purposesin the event of a shortfall. The deals Transactions and/or contracts that Contracts you enter are entering into with us are NOT N OT traded on an exchange. Therefore, under applicable bankruptcy laws, your funds may NOT N OT receive the same protections under applicable bankruptcy laws as funds used to margin Margin or guarantee exchange exchange- traded transactions Transactions and/or contracts that contracts, which may receive a bankruptcy prioritypriority in bankruptcy. Since that same priority has NOT been given to funds used for transactions Transactions and/or contracts Contracts in the overOver-the- counter ( OTC the-Counter (OTC) market have NOT been given the same priorityMarket, if we were to become insolvent and you have a claim for amounts deposited or profits earned on transactions Transactions and/or contracts Contracts with us, us your claim may not be given receive priority. Without priority, you are a general creditor and your claim will be paid paid, along with the claims of other general creditors, from any funds still available after priority claims are paid, along with the claims of other general creditors. In these circumstances, even the client money we keep separate from our own operating funds may NOT be safe from the claims of other general and priority creditors in all instances.

Appears in 1 contract

Samples: Customer Agreement

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