Common use of SINGLE ACCOUNT Clause in Contracts

SINGLE ACCOUNT. All transactions in futures contracts for or in connection with Customer’s accounts shall be deemed to be included in a single account notwithstanding the fact that such transactions may be segregated on Broker’s records into separate accounts, either severally or jointly with others. Any transfer between such accounts may be made on Customer’s verbal instructions or at any time, from time to time, in Broker’s discretion, Broker may without notice to Customer, apply or transfer any or all monies, securities, commodities, options, commodity futures contracts or other property of Customer interchangeably among any of Customer’s accounts; provided, however, that Broker shall not, without Customer’s prior written consent, use Customer’s net equity in any account subject to the regulations of the CFTC under the Commodity Exchange Act, as amended, to carry trades or to offset any net deficit of Customer in goods or property not included in the term “commodity” as defined in said regulations.

SINGLE ACCOUNT. All transactions in futures contracts for or in connection with Customer’s accounts shall be deemed to be included in a single account notwithstanding the fact that such transactions may be segregated on Broker’s records into separate accounts, either severally or jointly with others. Any transfer between such accounts may be made on Customer’s verbal instructions or at any time, from time to time, in Broker’s discretion, Broker may without notice to Customer, apply or transfer trans fer any or all monies, securities, commodities, options, commodity futures contracts or other property of Customer interchangeably among any of Customer’s accounts; provided, however, that Broker shall not, without Customer’s prior written consent, use Customer’s net equity in any account subject to the regulations of the CFTC under the Commodity Exchange Act, as amendedamended (the “Act”), to carry trades or to offset any net deficit of Customer in goods or property not included in the term “commodity” as defined in said regulations.