Common use of AUTOMATIC CASH SWEEP PROGRAM Clause in Contracts

AUTOMATIC CASH SWEEP PROGRAM. By signing the Account Application, you are selecting and agreeing, with respect to assets held at LPL, to have cash balances in your account transferred automatically into a sweep program, depending on the type of account you hold. Below is a summary of the general terms and conditions of the sweep programs offered by LPL. The applicable sweep program will be implemented upon acceptance of your completed account paperwork at LPL’s home office, which generally will occur within 15 business days, but can take longer in certain circumstances, of you providing the paperwork to your Representative. Pending our acceptance, cash balances not otherwise invested at your direction will be held in your account as a free credit balance, as discussed more fully below.

AUTOMATIC CASH SWEEP PROGRAM. By signing the Account Application, you are selecting and agreeing, with respect to assets held at LPL, to have cash balances in your account transferred automatically into a sweep program, depending on the type of account you hold. Below is a summary of the general terms and conditions of the sweep programs offered by LPL. The applicable sweep program will be implemented upon our acceptance of your completed account paperwork at LPL’s home office, which generally will occur within 15 business days, but can take longer in certain circumstances, of you providing the paperwork to your Representative. Pending our acceptance, cash balances not otherwise invested at your direction will be held in your account as a free credit balance, as discussed more fully below.

AUTOMATIC CASH SWEEP PROGRAM. By signing the Account Application, you are selecting and agreeing, with respect to assets held at LPL, to have cash balances in your account transferred automatically into a sweep program, depending on the type of account you hold. Below is a summary of the general terms and conditions of the sweep programs offered by LPL. The applicable sweep program will be implemented upon acceptance of your completed account paperwork at LPL’s home office, which generally will occur within 15 business days, but can take longer in certain circumstances, of you providing the paperwork to your RepresentativeAdvisor. Pending our acceptance, cash balances not otherwise invested at your direction will be held in your account as a free credit balance, as discussed more fully below.