Common use of Settlement Practices Clause in Contracts

Settlement Practices. Securities transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs, including, without limitation, the delivery of Securities or Cash to a counterparty (or agent) against, as applicable, the receipt of Securities or Cash in the future. Customer understands that when BNY is instructed to deliver Securities against payment, delivery of such Securities and receipt of payment related to such Securities may not be completed simultaneously and can also be made without payment. Customer assumes full responsibility for all risks involved in connection with BNY’s delivery of Securities or Cash in accordance with such practices.

Settlement Practices. Securities transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs, including, without limitation, the delivery of Securities or Cash to a counterparty (or agent) against, as applicable, the receipt of Securities or Cash in the future. Customer understands that when BNY is instructed to deliver Securities or Cash against payment, delivery of such Securities or Cash and receipt of payment or assets related to such Securities or Cash may not be completed simultaneously and can also be made without payment. Customer assumes full responsibility for all risks involved in connection with BNY’s delivery of Securities or Cash in accordance with such practices.

Settlement Practices. Securities transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs, including, without limitation, the delivery of Securities or Cash to a counterparty (or agent) against, as applicable, the receipt of Securities or Cash in the future. Customer understands that when BNY Mellon is instructed to deliver Securities against payment, delivery of such Securities and receipt of payment related to such Securities may not be completed simultaneously and can also be made without payment. Customer assumes full responsibility for all risks involved in connection with BNYBNY Mellon’s delivery of Securities or Cash in accordance with such practices.