Common use of Account Establishment Clause in Contracts

Account Establishment. Where an Account is established in a joint name, partnership, investment club, or other similar arrangement where the Account is in the name of more than a single person, each account holder shall be jointly liable to Hubwise. Where an Account is established in the name of a trust, each trustee shall be deemed to be jointly and severally liable to Hubwise as its client. Where an Account is established through a financial intermediary other than SCM, the financial intermediary, and not the underlying beneficiary, shall be deemed to be Hubwise’s client, and shall be liable for the Accounts held by Hubwise.