Common use of Authorization for Clearing Broker to Pay Advisor Clause in Contracts

Authorization for Clearing Broker to Pay Advisor. Client hereby authorizes Clearing Broker to deduct and remit directly to Typhon such Management Fees, Incentive Fees, or other fees, together “Fees” as Typhon requests on a monthly basis. Typhon will inform Clearing Broker of the exact amounts due on the agreed upon payment dates. Client acknowledges and agrees that Typhon is solely responsible for the computation of Fees and authorizes Typhon to rely on remittance instructions submitted by Typhon completely without regard to amount. This authorization will continue in effect until Clearing Broker receives written notice from the Client terminating it. Such notice will be mailed or delivered to Typhon and to the account executive handling this account. Client agrees to execute a separate document authorizing this paragraph if the Clearing Broker requests such.

Authorization for Clearing Broker to Pay Advisor. Client hereby authorizes Clearing Broker to deduct and remit directly to Typhon such Management Fees, Incentive Fees, or other fees, together “Fees” as Typhon requests on a monthly basis. Typhon will inform Clearing Broker of the exact amounts due on the agreed upon payment dates. Client acknowledges and agrees that Typhon Xxxxxx is solely responsible for the computation of Fees Xxxx and authorizes Typhon to rely on remittance instructions submitted by Typhon completely without regard to amount. This authorization will continue in effect until Clearing Broker Xxxxxx receives written notice from the Client terminating it. Such notice will be mailed or delivered to Typhon and to the account executive handling this account. Client agrees to execute a separate document authorizing this paragraph if the Clearing Broker requests such.