Actions Upon Failure to Meet Underlying Collateral Calls or Deliver Securities. In the event that satisfactory underlying collateral is not provided within the time specified by Pershing, or securities sold are not delivered as required, Pershing may take such actions as Pershing deems appropriate, including, but not limited to, entering orders to buy in or sell-out. Broker shall cooperate with Pershing by entering orders to buy-in or sell-out securities. Compliance with a request to withhold action shall not be deemed a waiver by Pershing of any of its rights under the Agreement.
Appears in 5 contracts
Samples: Disclosed Clearing Agreement (Gleacher & Company, Inc.), Disclosed Clearing Agreement (Summit Financial Services Group Inc), Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)
