Common use of Discretionary Account Clause in Contracts

Discretionary Account. (a) If your account is managed on a discretionary basis by an investment advisor, money manager or other person (“advisor”), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- accounts”), according to your advisor’s instructions, for clearance by Xxxxxxxx in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s instructions. To facilitate such allocation, the Executing Broker may open and carry an account in your name on Xxxxxxxx’x books and you shall be solely responsible and liable to the Executing Broker for settling such transaction directly with Pershing. You acknowledge that your advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.

Discretionary Account. (a) If your account is managed on a discretionary basis by an investment advisor, money manager or other person (“"advisor”"), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- "sub-accounts”"), according to your advisor’s 's instructions, for clearance by Xxxxxxxx Axos Clearing in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the your Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker Axos Clearing will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s 's instructions. To facilitate such allocation, the Executing Broker Axos Clearing may open and carry an account in your name on Xxxxxxxx’x its books and you shall be solely responsible and liable to the Executing Broker Axos Clearing for settling such transaction directly with PershingAxos Clearing. You acknowledge that your advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.

Discretionary Account. (a) If your account is managed on a discretionary basis by an investment advisor, money manager or other person (“"advisor”"), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- "sub-accounts”"), according to your advisor’s 's instructions, for clearance by Xxxxxxxx Pershing in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-sub- accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s 's instructions. To facilitate such allocation, the Executing Broker may open and carry an account in your name on Xxxxxxxx’x books and you shall be solely responsible and liable to the Executing Broker for settling such transaction directly with Pershing. You acknowledge that your advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.

Discretionary Account. (a) a. If your account is managed on a discretionary basis by an investment advisor, money manager or other person (“advisor”"Advisor"), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- "sub-accounts”"), according to your advisor’s 's instructions, for clearance by Xxxxxxxx the Clearing Broker in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker Clearing broker will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s 's instructions. To facilitate such allocation, the Executing Clearing Broker may open and carry an account in your name on Xxxxxxxx’x its books and you shall be solely responsible and liable to the Executing Clearing Broker for settling such transaction directly with Pershingthe Clearing Broker. You acknowledge that your advisor Advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.

Discretionary Account. (a) If your account is managed on a discretionary basis by an investment advisor, money manager manager, or other person (“advisor”), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- accounts”), according to your advisor’s instructions, for clearance by Xxxxxxxx Pershing in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s instructions. To facilitate such allocation, the Executing Broker may open and carry an account in your name on Xxxxxxxx’x books and you shall be solely responsible and liable to the Executing Broker for settling such transaction directly with Pershing. You acknowledge that your advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.

Discretionary Account. (a) If your account is managed on a discretionary basis by an investment advisor, money manager or other person (“advisor”), you hereby acknowledge that your Prime Brokerage Transactions may be commingled with those of other accounts of your advisor (“sub- accounts”), according to your advisor’s instructions, for clearance by Xxxxxxxx Pershing in a single bulk trade and for settlement in bulk with your Prime Broker. You further acknowledge that in the event the Prime Broker indicates its intention not to settle or does not settle such bulk trade because of one or more sub-accounts receiving an allocation, the Executing Broker will either cancel and rebill the bulk trade to reflect the reduction of the securities which were originally allocated to the objectionable sub-accounts or, if permissible, execute a corrected allocation of the Prime Brokerage Transaction to sub-accounts in accordance with your advisor’s instructions. To facilitate such allocation, the Executing Broker may open and carry an account in your name on Xxxxxxxx’x books and you shall be solely responsible and liable to the Executing Broker for settling such transaction directly with Pershing. You acknowledge that your advisor may resubmit the bulk trade and execute a corrected allocation of the Prime Brokerage Transaction.