Common use of AUTHORIZATION TO DEBIT ACCOUNT Clause in Contracts

AUTHORIZATION TO DEBIT ACCOUNT. Client hereby authorizes LPL to debit all Account Fees payable pursuant to Section 7 directly from the Account. It is agreed by Client and LPL that the Account Fee will be payable, first, from free credit balances, if any, in the Account, and second, from the liquidation or withdrawal (which Client hereby authorizes) by LPL of Client’s balances in money market funds or the ICA or DCA, as the case may be. LPL reserves the right to liquidate at any time a portion of the other assets in the Account to cover the Account Fee or other charges.

AUTHORIZATION TO DEBIT ACCOUNT. Client hereby authorizes LPL to debit all Account Fees payable pursuant to Section 7 6 directly from the Account. It is agreed by Client and LPL that the Account Fee will be payable, first, from free credit balances, if any, in the Account, and second, from the liquidation or withdrawal (which Client hereby authorizes) by LPL of Client’s balances in money market funds or the ICA or DCA, as the case may be. LPL reserves the right to liquidate at any time a portion of the other assets in the Account to cover the Account Fee or other charges.