Common use of Sell orders Clause in Contracts

Sell orders. It is understood and agreed that you will designate any sell order for a short account which you place with us as a "short sale" and hereby authorize us to ▇▇▇▇ such order as being "short", and when placing with us any order for a long account, will designate it as such and hereby authorize us to ▇▇▇▇ such order as being "long." Any sell order which you shall designate as being for long account as above provided is for securities then owned by you and, if such securities are not then deliverable by us from any of your accounts, the placing of such order shall constitute a representation by you that it is impracticable for you to then deliver such securities to us but that you will deliver them as soon as it is possible for you to do so without undue inconvenience or expense.