Bancorp Xxxxx Xxxxxxx. This Agreement is subject to, and may be modified from time to time by disclosure in, the prospectuses pertaining to the money market investment funds from time to time offered by U.S. Bancorp Xxxxx Xxxxxxx as a component of the XXX Plus Account (the "Funds"), and any supplement or amendment thereto as of the time of filing or effectiveness thereof (the prospectuses, as so amended or supplemented, are referred to as the "Prospectuses"). Subject to the foregoing, it is understood that the XXX Plus Account will operate as follows:
Bancorp Xxxxx Xxxxxxx. If sufficient cash or eligible securities are not deposited into the XXX Plus Account within the allotted timeframes prescribed by applicable regulatory requirements, U.S. Bancorp Xxxxx Xxxxxxx is required to liquidate the trade(s) at market risk and exposure to you.
Bancorp Xxxxx Xxxxxxx. U.S. Bancorp Xxxxx Xxxxxxx may at any time demand that your account or accounts immediately be taken up and paid, and all amounts advanced and other balances due, with interest and commissions, shall be due and payable on demand. Unless demand is sooner made, interest is due and payable monthly or upon the balances due being paid in full. You will at all times maintain sufficient collateral for said accounts as from time to time required by U.S. Bancorp Xxxxx Xxxxxxx.
Bancorp Xxxxx Xxxxxxx. U.S. Bancorp Xxxxx Xxxxxxx may, however, without charge, advance Federal Funds to the XXX Plus Account on your behalf to enable you to purchase Fund shares and earn Fund dividends prior to final collection of checks or other instruments deposited in your Securities Account. You therefore agree that U.S. Bancorp Xxxxx Xxxxxxx may reasonably withhold access to the redemption proceeds of Fund shares purchased by checks or other instruments credited to your XXX Plus Account. The Funds will declare dividends on each business day as earned, and credit dividends monthly on shares of the Funds owned by you. You recognize that dividends are paid in additional Fund shares, unless monthly cash payment is requested.
Bancorp Xxxxx Xxxxxxx. The statement will detail, among other things, reports of execution of transactions and statements of accounts as required, account interest charges, if any, dividends received on securities held in your Securities Account, and checks drawn on Provident. Reports of the execution of orders ("Confirmations") and statements of your accounts ("Statements") shall be conclusive if not objected to in writing within a reasonable time. Once a year, the amount of the annual fee, if any, that U.S. Bancorp Xxxxx Xxxxxxx charges for the XXX Plus Account will be indicated on the monthly statement, and you authorize U.S. Bancorp Xxxxx Xxxxxxx to deduct that annual fee from your XXX Plus Account. You understand that a copy of your monthly statement will be sent to your U.S. Bancorp Xxxxx Xxxxxxx Investment Executive. Confirmation detailing specific purchases and redemptions of Fund shares will not be sent to you. Provident will forward canceled checks to you.
Bancorp Xxxxx Xxxxxxx. No one other than yourself has or will have an interest in any account governed hereby, except as you advise U.S. Bancorp Xxxxx Xxxxxxx in writing. The information you have supplied to U.S. Bancorp Xxxxx Xxxxxxx concerning your financial resources and experience in trading securities is true and accurate.
Bancorp Xxxxx Xxxxxxx. This Agreement shall be continuous and shall survive any temporary or intermittent closing out of any account with U.S. Bancorp Xxxxx Xxxxxxx.
Bancorp Xxxxx Xxxxxxx. You covenant with the Company as follows:
Bancorp Xxxxx Xxxxxxx. U.S. Bancorp Jaffray represents it has the necessary licenses, permits and registration to perform and carry out the Services.
Bancorp Xxxxx Xxxxxxx. U.S. Bancorp Xxxxx Xxxxxxx is authorized without notice to you, whenever U.S. Bancorp Xxxxx Xxxxxxx deems it advisable, to transfer interchangeably between any accounts you have with U.S. Bancorp Xxxxx Xxxxxxx any or all of the securities so held, and without notice to you and without regard to whether U.S. Bancorp Xxxxx Xxxxxxx has in its possession or subject to its control at the time thereof other securities of the same kind and amount, and in the usual course of business, to pledge, repledge, hypothecate, rehypothecate (EITHER FOR THE AMOUNT DUE U.S. BANCORP XXXXX XXXXXXX from you or FOR A GREATER OR LESSER SUM) and lend the same to itself as brokers or to others from time to time, separately or commingled with securities carried for other clients. U.S. Bancorp Xxxxx Xxxxxxx shall not be required to deliver to you the identical securities deposited or received but only securities of the same kind and amount.
