Common use of Loan Balance Clause in Contracts

Loan Balance. If your account is pledged to secure a loan balance owed to us, or any of our affiliates, when the last surviving account owner dies, the outstanding loan balance must be paid in full prior to any distributions. We may, at our sole discretion, sell any and all securities in your account to satisfy any outstanding balance and your representatives or beneficiaries will not be entitled to choose which securities are sold.