Common use of Claims, Controversies and Settlements Clause in Contracts

Claims, Controversies and Settlements. In event of any claim of misrepresentation or the use of unfair or inequitable methods, or lack of proper registration by Representative in regard to the sale of any Security for which commission are or become due to Representative, or failure of Representative to remit any collection, FUTURES INVESTMENT may withhold to the extent it deems necessary, any commissions or other amount to which Representative is or may become entitled, pending disposition or settlement of such matter, and in the event it is established that representative was guilty of wrong-doing FUTURES INVESTMENT may retain such withheld amounts and any future amounts received to pay any such disposition or settlement. FUTURES INVESTMENT may effect settlement with a Security holder or issuer in accordance with its business judgment and refund in whole or in part any sum paid by such a holder. Upon the making of a settlement or refund, whether or not a claim or misrepresentation was made by a certificate holder or stockholder, FUTURES INVESTMENT shall be entitle to charge back to Representative the whole or such proportionate part of the withheld amounts. Representative may not make any settlement or refund to a holder or stockholder without the prior written approval of FUTURES INVESTMENT. As used In this paragraph, settlement includes a cancellation of Security or any adjustment made with a holder of a Security To the extent that FUTURES INVESTMENT Incurs expense in excess of such withholding, Representative shall be responsible for payment thereof upon written demand by FUTURES INVESTMENT, Including any expenses In collecting the excess from Representative.

Claims, Controversies and Settlements. In event of any claim of misrepresentation or the use of unfair or inequitable methods, or lack of proper registration by Representative in regard to the sale of any Security for which commission are or become due to Representative, or failure of Representative to remit any collection, FUTURES INVESTMENT may withhold to the extent it deems necessary, any commissions or other amount to which Representative is or may become entitled, pending disposition or settlement of such matter, and in the event it is established that representative was guilty of wrong-doing FUTURES INVESTMENT may retain such withheld amounts and any future amounts received to pay any such disposition or settlement. FUTURES INVESTMENT may effect settlement with a Security holder or issuer in accordance with its business judgment and refund in whole or in part any sum paid by such a holder. Upon the making of a settlement or refund, whether or not a claim or misrepresentation was made by a certificate holder or stockholder, FUTURES INVESTMENT shall be entitle to charge back to Representative the whole or such proportionate part of the withheld amounts. Representative may not make any settlement or refund to a holder or stockholder without the prior written approval of FUTURES INVESTMENT. As used In this paragraph, settlement includes a cancellation of Security or any adjustment made with a holder of a Security To the extent that FUTURES INVESTMENT Incurs expense in excess of such withholding, Representative shall be responsible for payment thereof upon written demand by FUTURES INVESTMENT, Including any expenses In collecting the excess from Representative.. c)

Claims, Controversies and Settlements. In event of any claim of misrepresentation or the use of unfair or inequitable methods, or lack of proper registration by Representative in regard to the sale of any Security for which commission are or become due to Representative, or failure of Representative to remit any collection, FUTURES INVESTMENT may withhold to the extent it deems necessary, any commissions or other amount to which Representative is or may become entitled, pending disposition or settlement of such matter, and in the event it is established that representative was guilty of wrong-doing FUTURES INVESTMENT may retain such withheld amounts and any future amounts received to pay any such disposition or settlement. FUTURES INVESTMENT may effect settlement with a Security holder or issuer in accordance with its business judgment and refund in whole or in part any sum paid by such a holder. Upon the making of a settlement or refund, whether or not a claim or misrepresentation was made by a certificate holder or stockholder, FUTURES INVESTMENT shall be entitle to charge back to Representative the whole or such proportionate part of the withheld amounts. Representative may not make any settlement or refund to a holder or stockholder without the prior written approval of FUTURES INVESTMENT. As used In this paragraph, settlement includes a cancellation of Security or any adjustment made with a holder of a Security To the extent that FUTURES INVESTMENT Incurs expense in excess of such withholding, Representative shall be responsible for payment thereof upon written demand by FUTURES INVESTMENT, Including any expenses In collecting the excess from Representative.. 3