RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. The division of responsibilities with respect to the receipt and delivery of and safeguarding of funds and securities is set forth in Section 5 of this Agreement.
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. FSWC will receive and deliver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer's instructions to CLAY, provided that CLAY shall be respon-sible for advising Customers of their obligations to deliver funds or securities in connection with each such transaction and for any failure of any Customer to fulfill such obligation. FSWC shall be responsible for the safeguarding of all funds and securities delivered to and accepted by it, subject to count and verification by FSWC. However, FSWC will not be responsible for any funds or securities delivered by a Customer to CLAY, its agents or employees until such funds or securities are physically delivered to FSWC's premises and accepted by FSWC or deposited in bank accounts maintained in FSWC's name. It is ex-pressly understood and agreed, however, that CLAY is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311. et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11, as amended, et seq.). FSWC reserves the right to transfer any and all monies and securities in CLAY Customer Account(s) to the CLAY Customer, if CLAY Customer account(s) are deemed by FSWC, in its sole discretion, to be a risk to FSWC or if the account(s) do(es) not comply and conform to the House Rules of FSWC after request for compliance is transmitted to the CLAY and/or CLAY Customer.
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) RECEIPT AND DELIVERY IN THE ORDINARY COURSE OF BUSINESS. Penson, acting on behalf of Correspondent, will receive axx xxxiver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer's instructions to Correspondent. Correspondent shall be responsible for advising Customers of their obligations in deliver funds or securities in connection with each such transaction. Correspondent shall be responsible for any failure of any Customer to fulfill such obligation. Penson shall be responsible for the safeguarding of all fxxxx xnd securities delivered to and accepted by it, subject to count and verification by Penson. However, Penson will not be responsible for any fxxxx xr securities xxxxvered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Penson's premises and accepted by Penson or deposited in xxxx xxxounts maintained in Penson's name. It is expressly understood and agreed, howxxxx, xxat Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311 et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11, as amended, et seq.).
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. As between Southwest and Correspondent, the party having possession of Customer funds or securities shall be responsible for safeguarding such funds and securities. Correspondent shall promptly transmit securities and/or funds to Southwest when securities and/or funds are to be delivered to Southwest. However, Southwest will mot be responsible for any funds or securities delivered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Southwest's premises and accepted by an authorized representative of Southwest or deposited in bank accounts maintained in Southwest's name. Exhibit 10.6 - Pg. 9 Correspondent shall be responsible for the prompt payment to Southwest for securities purchased and prompt delivery of securities sold in Customer Accounts. Correspondent shall be responsible for the authenticity of all certificates and delivery of certificates in good form by Customers to Southwest. With respect to all payments made or to be made to Southwest, by or for a Customer of Correspondent, Correspondent shall immediately forward all such funds to Southwest, either by U. S. Mail or mutually acceptable courier service or by deposit to local depositary bank, and an officer of Correspondent shall verify and warrant that said funds are credited to the proper Southwest Customer Account, and further shall notify Southwest to enter on Southwest's books and records said deposit of Customer Funds. With respect to any securities certificates delivered to Southwest for a Customer of Correspondent, an officer of Correspondent shall verify and warrant (i) that any securities not bearing a restricted legend are fully paid for and freely tradable; (ii) that Correspondent has no reason to suspect any defect or irregularity with respect to any securities and any endorsements thereon; (iii) that the securities are free of any liens and adverse claims, (iv) that the party transferring the securities has legal title to them or the authority to effect the proposed transfer; an d(v) that the regulatory requirements restricting the sale or transfer of securities that bear a restrictive legend (pursuant to SEC Rules 144 or 145 or otherwise) have been satisfied or will be satisfied within the appropriate time frames. Correspondent acknowledges that it is solely responsible for satisfying any loss or shortfall of a Customer Account, or for any other event which ca...
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) RECEIPT AND DELIVERY IN THE ORDINARY COURSE OF BUSINESS. Pensxx, xxting on behalf of Correspondent, will receive and deliver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer's instructions to Correspondent. Correspondent shall be responsible for advising Customers of their obligations to deliver funds or securities in Proprietary and Confidential connection with each such transaction. Correspondent shall be responsible for any failure of any Customer to fulfill such obligation. Pensxx xxxll be responsible for the safeguarding of all funds and securities delivered to and accepted by it, subject to count and verification by Pensxx. Xxwever, Pensxx xxxl not be responsible for any funds or securities delivered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Pensxx'x xxxmises and accepted by Pensxx xx deposited in bank accounts maintained in Pensxx'x xxxe. It is expressly understood and agreed, however, that Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311. et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11, as amended, et seq.).
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (d) Draft-Issuing Authority. At its discretion Pensxx xxx authorize certain of Correspondent's employees to sign drafts as drawer payable to Correspondent's Customers in amounts and pursuant to conditions as may be determined by Pensxx xxxm time to time. Correspondent agrees that it will not request Pensxx xx authorize someone to sign drafts who is not an employee of Correspondent. CORRESPONDENT FURTHER AGREES THAT THIS AUTHORITY SHALL NOT BE GRANTED BY PENSXX XXXIL CORRESPONDENT HAS NOTIFIED PENSXX XX WRITING THAT IT HAS ESTABLISHED AND WILL MAINTAIN AND ENFORCE SUPERVISORY PROCEDURES WITH RESPECT TO THE ISSUANCE OF SUCH INSTRUMENTS. Correspondent agrees to fully indemnify Pensxx xxxm the negligence, fraud, or mistakes of Correspondent or Correspondent's employees in connection with any draft issuing authority granted to them and Correspondent authorizes Pensxx xx charge any Correspondent Account or any other assets of Correspondent held by Pensxx xxxh the amount of any such losses. Notwithstanding Section 5(a), Pensxx xxxl not be responsible for the safeguarding of funds withdrawn by Correspondent or Correspondent's employees pursuant to such draft issuing authority. Pensxx xxx withdraw this draft issuing privilege without notice at any time during the term of this Agreement. Notwithstanding anything herein to the contrary, Pensxx xxx at any Proprietary and Confidential time, at its sole discretion, despite any prior authorization, refuse payment on any draft for which Correspondent is drawer and Pensxx xx payee.
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. As between Southwest and Correspondent, the party having possession of Customer funds or securities shall be responsible for safeguarding such funds and securities. Correspondent shall promptly transmit securities and/or funds to Southwest when securities and/or funds are to be delivered to Southwest. However, Southwest will not be responsible for any funds or securities delivered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Southwest's premises and accepted by an authorized representative of Southwest or deposited in bank accounts maintained in Southwest's name. Correspondent shall be responsible for the prompt payment to Southwest for securities purchased and prompt delivery of securities sold in Customer
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. We will receive and deliver all funds and securities in connection with Transactions in your Account as instructed by Introducing Firm. For purposes of the financial responsibility rules and the Securities Investment Protection Act of 1970 we will safeguard funds and securities delivered to and accepted by us as reflected in the books and records for your Account. Your Account may be the responsibility of Introducing Firm for other purposes and as may be subject to your agreement with Introducing Firm. DriveWealth is not responsible for the safekeeping of funds withdrawn from your Account at the instruction of Introducing Firm.
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. The Broker will receive and deliver all funds and securities in connection with transactions for Accounts in accordance with the instructions of GTN ASIA. The Broker shall be responsible for its obligations to deliver funds or securities in connection with each such transaction. The Broker shall be responsible for any failure to fulfill such obligation. GTN ASIA shall be responsible for timely settlement of securities trades executed and accepted by it, subject to count and verification by GTN ASIA. However, GTN ASIA will not be responsible for any funds or securities delivered by the Broker, its agents or employees, until such funds or securities are physically delivered to GTN ASIA's premises and accepted by GTN ASIA or deposited in bank and custody accounts maintained in GTN ASIA's name or the name of its Customers. GTN ASIA at its own discretion may accept custody services through the local central depository of the exchange or by appointing an independent custodian. Shares and securities may be held, at the sole discretion of GTN ASIA or GTN ASIA customers, at an independent custodian, in this case instructions will be jointly provided to the custodian by GTN ASIA or GTN ASIA customer and the Broker. Receipt and Delivery Pursuant to Special Instruction. Upon instruction from GTN ASIA, the Broker will make such transfers of securities or Accounts as may be requested. The Broker shall be responsible for determining if any securities held in the Broker’s Accounts are "restricted securities" or "control stock" as defined by the rules of the regulatory agencies and that orders executed for such securities are in compliance with applicable laws, rules and regulations.
RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES i) MFS will receive and deliver all funds and securities in connection with transactions for Accounts in accordance with the instructions provided by the Client at the time of the transaction.
