Authority to Borrow. If XX Xxxxxx is responsible for settling a short sale on your behalf, or if you fail to deliver any securities you have sold in a long sale, you authorize XX Xxxxxx to borrow the securities necessary to enable XX Xxxxxx to make delivery. You agree to be responsible for any cost or loss XX Xxxxxx may incur borrowing or maintaining the borrowing of such securities. In the event that XX Xxxxxx is unable to borrow or make delivery, you acknowledge that you will also be responsible of any resulting loss or cost sustained by XX Xxxxxx. You acknowledge that any such borrowing may be terminated or closed out at any time.
Appears in 18 contracts
Samples: Institutional Account Agreement (Diversified 2000 Futures Fund L.P.), Institutional Account Agreement (Tactical Diversified Futures Fund L.P.), Institutional Account Agreement (Orion Futures Fund Lp)
Authority to Borrow. If XX Xxxxxx is responsible for settling a short sale on your behalf, or if you fail to deliver any securities you have sold in a long sale, you authorize XX Xxxxxx to borrow the securities necessary to enable XX Xxxxxx to make delivery. You agree to be responsible for any cost or loss XX Xxxxxx may incur borrowing or maintaining the borrowing of such securities. In the event that XX Xxxxxx is unable to borrow or make delivery, you acknowledge that you will also be responsible of any resulting loss or cost sustained by XX Xxxxxx. You acknowledge that any such borrowing may be terminated or closed out at any time.. (MKL) Standard Form IAA 2017-02-15
Appears in 1 contract
Samples: Institutional Account Agreement
