Common use of Acceptance of Accounts Clause in Contracts

Acceptance of Accounts. Each Customer Account and Proprietary Account accepted and approved by Correspondent shall be subject to acceptance by Ridge (which shall not be construed to require any due diligence on the part of Ridge). Correspondent shall not approve any Customer Account unless all information required in Section III.A. of this Agreement has been received and due diligence as set forth in Section III.B. of this Agreement has been performed by Correspondent. Ridge reser­ves the absolute right, exer­cisable in its sole and exclusive discretion acting in good faith, without prior notice to Correspondent or to the Customer, to reject any account that Correspondent may offer as an Account, or to terminate any account previously accepted by it as an Account. Without limiting the generality of any of the foregoing, Ridge will be under no obligation to accept any Customer Account as to which any documentation or information required to be submitted to Ridge or maintained by Correspondent pursuant to Sections III.A. and III.B. of this Agreement is incomplete. No action taken by Ridge or any of its employees, including, without limitation, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Customer Account. Without limiting the generality of any of the foregoing, in the event that any information or documentation requested by Ridge regarding a Customer Account is not promptly provided to Ridge, Ridge may, without prior notice to Correspondent or to the Customer, reject or terminate such account as a Customer Account or refuse to execute or clear any further transactions therein. If Ridge nevertheless accepts or continues to execute or clear transactions in such Customer Account, it shall not be deemed a waiver of Ridge’s right to receive such information or documentation or to later terminate or refuse to execute or clear transactions in such Customer Account.

Acceptance of Accounts. Each Customer Account and Proprietary Account accepted and approved by Correspondent and opened with ICS shall be subject to ICS’ acceptance by Ridge (which shall not be construed to require include any due diligence on the part of RidgeICS). Correspondent shall not approve any Customer Account unless all information required in Section III.A. of this Agreement has been received and due diligence as set forth in Section III.B. of this Agreement has been performed by Correspondent. Ridge reser­ves ICS reserves the absolute right, exer­cisable exercisable in its sole and exclusive discretion acting in good faithdiscretion, without prior notice to Correspondent or to the Customer, to reject any account that Correspondent may offer as an Account, or to terminate any account previously accepted by it as an Account, or to reject any order that may be transmitted to ICS for execution or clearing in any Account. Without limiting the generality of any of the foregoing, Ridge will ICS shall be under no obligation to accept any Customer Account as to which any documentation or information required to be submitted to Ridge ICS or maintained by Correspondent pursuant to Sections III.A. and III.B. of this Agreement is incomplete. No action taken by Ridge ICS or any of its employees, including, without limitation, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Customer Account. Without limiting the generality of any of the foregoing, in the event that any information or documentation requested by Ridge ICS regarding a Customer an Account is not promptly provided to RidgeICS, Ridge ICS may, without prior notice to Correspondent or to the Customer, reject or terminate such account as a Customer an Account or refuse to execute or clear any further transactions therein. If Ridge ICS nevertheless accepts or continues to execute or clear transactions in such Customer Account, it shall not be deemed a waiver of RidgeICS’s right to receive such information or documentation or to later terminate or refuse to execute or clear transactions in such Customer Account.

Acceptance of Accounts. Each Customer Account and Proprietary Account accepted and approved by Correspondent and opened with Clearing Broker shall be subject to Clearing Broker's acceptance by Ridge (which shall not be construed to require include any due diligence on the part of RidgeClearing Broker). Correspondent shall not approve any Customer Account unless all information required in Section III.A. IIl.A. of this Agreement has been received and due diligence as set forth in Section III.B. of this Agreement UI.B. has been performed by Correspondent. Ridge reser­ves Clearing Broker reserves the absolute right, exer­cisable exercisable in its sole and exclusive discretion acting in good faithdiscretion, without prior notice to Correspondent or to the Customer, to reject any account that Correspondent may offer as an Account, or to terminate any account previously accepted by it as an Account, or to reject any order that may be transmitted to Clearing Broker for execution or clearing in any Account. Without limiting the generality of any of the foregoing, Ridge will Clearing Broker shall be under no obligation to accept any Customer Account as to which any documentation or information required to be submitted to Ridge Clearing Broker or maintained by Correspondent pursuant to Sections III.A. UI.A. and III.B. of this Agreement is incomplete. No action taken by Ridge Clearing Broker or any of its personnel or employees, including, without limitation, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Customer Account. Without limiting the generality of any of the foregoing, in the event that any information or documentation requested by Ridge regarding a Customer Clearing Broker relative to an Account is not promptly provided to RidgeClearing Broker, Ridge Clearing Broker may, without prior notice to Correspondent or to the Customer, reject or terminate such account as a Customer an Account or refuse to execute or clear any further transactions therein. If Ridge Clearing Broker nevertheless accepts or continues to execute or clear transactions in such Customer Account, it shall not be deemed to constitute a waiver of Ridge’s Clearing Broker's right to receive such information or documentation or to later terminate or refuse to execute or clear transactions in such Customer Account.

Acceptance of Accounts. Each Customer Account and Proprietary Account accepted and approved by Correspondent shall be subject to acceptance by Ridge (which shall not be construed to require any due diligence on the part of Ridge). Correspondent shall not approve any Customer Account unless all information required in Section III.A. of this Agreement has been received and due diligence as set forth in Section III.B. of this Agreement has been performed by Correspondent. Ridge reser­ves reserves the absolute right, exer­cisable exercisable in its sole and exclusive discretion acting in good faithdiscretion, without prior notice to Correspondent or to the Customer, to reject any account that Correspondent may offer as an Account, or to terminate any account previously accepted by it as an Account. Without limiting the generality of any of the foregoing, Ridge will be under no obligation to accept any Customer Account as to which any documentation or information required to be submitted to Ridge or maintained by Correspondent pursuant to Sections III.A. and III.B. of this Agreement is incomplete. No action taken by Ridge or any of its employees, including, without limitation, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Customer Account. Without limiting the generality of any of the foregoing, in the event that any information or documentation requested by Ridge regarding a Customer Account is not promptly provided to Ridge, Ridge may, without prior notice to Correspondent or to the Customer, may reject or terminate such account as a Customer Account or refuse to execute or clear any further transactions therein. Ridge shall endeavor to give prior notice to Correspondent or to the Customer of any such rejection or termination to the extent practical under the circumstances and in the event that Ridge does not give such prior notice, it shall promptly give Correspondent notice after taking such action. If Ridge nevertheless accepts or continues to execute or clear transactions in such Customer Account, it shall not be deemed a waiver of Ridge’s right to receive such information or documentation or to later terminate or refuse to execute or clear transactions in such Customer Account.