Common use of Give Clause in Contracts

Give. ups: Free Deliveries in the event: (i) your orders are not executed by Bear ▇▇▇▇▇▇▇ and you give-up Bear ▇▇▇▇▇▇▇' name for clearance and settlement, or (ii) you require Bear ▇▇▇▇▇▇▇ to make a free delivery of cash or securities in connection with the settlement of such orders, the following terms and conditions shall apply: (i) You agree that you will only execute bona-fide orders and if required for settlement, you will request a free delivery of cash or securities only when you have reasonable grounds to believe that the contra-party and the broker who executed your order have the financial capability to complete any contemplated transaction; (ii) Bear ▇▇▇▇▇▇▇ reserves the right at any time to place a limit (of either dollars or number of securities) on the size of transactions that Bear ▇▇▇▇▇▇▇ will accept for clearance. If after you have received notice of such limitation you execute an order in excess of the limit established by Bear ▇▇▇▇▇▇▇, Bear ▇▇▇▇▇▇▇ shall have the right, exercisable in its sole discretion, to decline to accept the transaction for clearance and settlement. In the event any claim is asserted against Bear ▇▇▇▇▇▇▇ by the broker who executed your order because of such action by Bear ▇▇▇▇▇▇▇, you agree to indemnify and hold Bear ▇▇▇▇▇▇▇ harmless from any loss, liability, damage, cost or expense (including, but not limited to fees and expenses of legal counsel) arising directly or indirectly therefrom; and (iii) Bear ▇▇▇▇▇▇▇ will on a best efforts basis attempt to clear such transactions within a reasonable period and utilize the same procedures it utilizes when clearing transactions on behalf of other customers. If either you or the broker who executed your order fails for any reason to settle the transaction and/or return any free delivery within a reasonable period of time, as determined by Bear ▇▇▇▇▇▇▇, you will be solely liable to Bear ▇▇▇▇▇▇▇ for any and all loss, including expenses, caused thereby. Bear ▇▇▇▇▇▇▇ shall have no liability whatsoever to you in any such circumstance.