Common use of Confirmations and Statements Clause in Contracts

Confirmations and Statements. (a) PREPARATION AND TRANSMISSION. Pens▇▇ ▇▇▇l prepare and send to Customers monthly statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Pens▇▇'▇ ▇▇▇uirements as to format and quality and will indicate that Correspondent is the introducing broker for the Account. Pens▇▇ ▇▇▇l be responsible for preparing and transmitting confirmations. Upon prior written approval from Pens▇▇, Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art. III, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly or quarterly statements sent by Pens▇▇ to Customers will be send to Correspondent. Pens▇▇ ▇▇▇l also provide to Correspondent monthly statements of clearing services performed by Pens▇▇ ▇▇▇ Correspondent and Customer Accounts showing the fees charged for such services during the month, as provided in Section 8. (b) EXAMINATION AND NOTIFICATION OF ERRORS. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by Pens▇▇. ▇▇rrespondent shall notify Pens▇▇ ▇▇ any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven days of such report, and (iii) information appearing on monthly statements or reports within 30 days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pens▇▇'▇ ▇▇▇uest any additional documentation which Pens▇▇ ▇▇▇sonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pens▇▇ ▇▇▇l Southwest will prepare and send to Customers monthly statements of account accounts (or quarterly statements if no activity occurs in an account during any Exhibit 10.4 - Pg. 12 the calendar quarter covered by such statement), which statements shall meet Pens▇▇'▇ ▇▇▇uirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for correspondent introduced the Account. Pens▇▇ ▇▇▇l Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon ; subject to prior written approval from Pens▇▇, by Southwest and compliance by Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly billings or quarterly statements sent by Pens▇▇ to Customers will be send to Correspondent. Pens▇▇ confi▇▇▇l also provide to Correspondent monthly statements of clearing services performed by Pens▇▇ ▇▇▇▇ Correspondent and Customer Accounts showing the fees charged for such services during the month, respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by Pens▇▇Southwest. ▇▇rrespondent Correspondent shall notify Pens▇▇ ▇▇ Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to Exhibit 10.4 - Pg. 13 substantiate Correspondent's claim. Correspondent shall provide promptly upon Pens▇▇'▇ ▇▇▇uest Southwest's request any additional documentation which Pens▇▇ ▇▇▇sonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pens▇▇ ▇▇▇l Southwest will prepare and send to Customers monthly statements of account (or quarterly statements if no activity occurs in an account during any the calendar quarter covered by such statement), which statements shall meet Pens▇▇'▇ ▇▇▇uirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for introduced the Account. Pens▇▇ ▇▇▇l Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon prior written approval from Pens▇▇; provided, however, that Correspondent may assume the responsibility of preparing elect to prepare and transmitting transmit confirmations, including the responsibility for subject to prior approval by Southwest and compliance by Correspondent with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly or quarterly statements sent by Pens▇▇ to Customers will be send to Correspondent. Pens▇▇ ▇▇▇l also provide to Correspondent monthly statements of clearing services performed by Pens▇▇ ▇▇▇▇ Correspondent and Customer Accounts showing the fees charged for such services during the month, or confirmations respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by Pens▇▇Southwest. ▇▇rrespondent Correspondent shall notify Pens▇▇ ▇▇ Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pens▇▇'▇ ▇▇▇uest Southwest's request any additional documentation which Pens▇▇ ▇▇▇sonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pens▇▇ ▇▇▇l Southwest will prepare and send to Customers monthly statements of account accounts (or quarterly statements if no activity occurs in an account during any Exhibit 10.6 - Pg. 12 the calendar quarter covered by such statement), which statements shall meet Pens▇▇'▇ ▇▇▇uirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for correspondent introduced the Account. Pens▇▇ ▇▇▇l Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon ; subject to prior written approval from Pens▇▇, by Southwest and compliance by Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly billings or quarterly statements sent by Pens▇▇ to Customers will be send to Correspondent. Pens▇▇ confir▇▇▇l also provide to Correspondent monthly statements of clearing services performed by Pens▇▇ ▇▇▇ Correspondent and Customer Accounts showing the fees charged for such services during the month, respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by Pens▇▇Southwest. ▇▇rrespondent Correspondent shall notify Pens▇▇ ▇▇ Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to Exhibit 10.6 - Pg. 13 substantiate Correspondent's claim. Correspondent shall provide promptly upon Pens▇▇'▇ ▇▇▇uest Southwest's request any additional documentation which Pens▇▇ ▇▇▇sonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a▇) PREPARATION AND TRANSMISSIONPreparation and Transmission. Pens▇▇ ▇▇▇l Penson will prepare and send to Customers monthly mont▇▇▇ statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Pens▇▇'▇ ▇▇▇uirements Penson's requirements as to format and quality and will indicate that Correspondent is the introducing broker for the Account. Pens▇▇ ▇▇▇l Penson will be responsible for preparing and transmitting ▇▇ansmitting confirmations. Upon prior written approval from Pens▇▇Penson, Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art. III, Section 12 Rule 2230 of the NASD Rules of Fair PracticeNASD's Conduct Rules. Copies of all monthly or quarterly statements sent by Pens▇▇ Penson to Customers will be send to CorrespondentCorresponde▇▇. Pens▇enson will also provide to Correspondent month▇▇ ▇▇▇l also provide to Correspondent monthly statements atements of clearing services performed by PensPenson for Correspondent and Customer Accoun▇▇ ▇▇▇ Correspondent and Customer Accounts showing owing the fees charged for such services during the month, as provided in Section 8. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensPenson. Correspondent shall notify Penson of an▇ ▇▇. ▇▇rrespondent shall notify Pens▇or claimed by Corresponden▇ ▇▇ any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven days of such report, and (iii) information appearing on monthly statements or reports within 30 days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pens▇▇'▇ ▇▇▇uest Penson's request any additional documentation which Pens▇▇ ▇▇▇sonably Penson reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.