Common use of Prime Brokerage Services Clause in Contracts

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation.