Common use of Authorization of Repurchase and Reverse Repurchase Transactions Clause in Contracts

Authorization of Repurchase and Reverse Repurchase Transactions. You authorize XX Xxxxxx to engage in repurchase or reverse repurchase transactions on your behalf with a XX Xxxxxx Entity, including X.X. Xxxxxx Securities LLC. Any such repurchase or reverse repurchase transaction shall be subject to the terms of the Master Repurchase Agreement entered between you and X.X. Xxxxxx Securities LLC, or other XX Xxxxxx Entity, and you agree to be bound by its terms, which include, without limitation, the rate, term, margin amounts and securities types, as you will be notified pursuant to a separate confirmation of trade provided to you, and as set forth in a daily account statement provided to you. You acknowledge that you may not rely on XX Xxxxxx to engage in repurchase or reverse repurchase transactions on your behalf and that this authorization is not considered a line of credit or a commitment on the part of XX Xxxxxx, nor shall past practice or custom obligate XX Xxxxxx to engage in any such repurchase or reverse repurchase transactions in the future.

Authorization of Repurchase and Reverse Repurchase Transactions. You authorize XX Xxxxxx to engage in repurchase or reverse repurchase transactions on your behalf with a XX Xxxxxx Entity, including X.X. Xxxxxx Securities LLC. Any such repurchase or reverse repurchase transaction shall be subject to the terms of the Master Repurchase Agreement entered between you and X.X. Xxxxxx Securities LLC, or other XX Xxxxxx Entity, and you agree to be bound by its terms, which include, without limitation, the rate, term, margin amounts and (v.2) Form # 0000 JPM Standard Form 01009 FIC Supplement to IAA (2017-02-15) securities types, as you will be notified pursuant to a separate confirmation of trade provided to you, and as set forth in a daily account statement provided to you. You acknowledge that you may not rely on XX Xxxxxx to engage in repurchase or reverse repurchase transactions on your behalf and that this authorization is not considered a line of credit or a commitment on the part of XX Xxxxxx, nor shall past practice or custom obligate XX Xxxxxx to engage in any such repurchase or reverse repurchase transactions in the future.