Common use of CGM Representations Clause in Contracts

CGM Representations. CGM represents that: (a) this Agreement is binding on CGM and enforceable against CGM in accordance with its terms; (b) it is, and it or its successors shall remain during the term of this Agreement, duly registered as a Futures Commission Merchant; (c) CGM will accept and hold all margin deposited with CGM by Customer subject to the terms of this Agreement; (d) in accepting and holding margin on behalf of Customer, CGM will comply with the segregation requirements of the CEA and rules thereunder to the extent applicable; and (e) if Customer is an Investment Company registered under the Investment Company Act of 1940, CGM shall (i) promptly notify Customer of credit balances in the Account payable to Customer and, if such credit balance is free of obligation, pay such credit balance to Customer no later than the next business day following the day funds are received by CGM other than de minimus amounts Customer and CGM agree need not be paid, and (ii) promptly furnish to the Securities and Exchange Commission (“SEC”) copies or extracts of CGM’s records pertaining to Customer’s assets as the SEC may lawfully request. The representations in this Agreement shall be continuing representations during the term of the Agreement.

CGM Representations. CGM represents that: (a) this Agreement is binding on CGM and enforceable against CGM in accordance with its terms; (b) it is, and it or its successors shall remain during the term of this Agreement, duly registered as a Futures Commission Merchant; (c) CGM will accept and hold all margin deposited with CGM by Customer You subject to the terms of this Agreement; (d) in accepting and holding margin on behalf of CustomerYour behalf, CGM will comply with the segregation requirements of the CEA and rules thereunder to the extent applicable; and (e) if Customer is You are an Investment Company registered under the Investment Company Act of 1940, CGM shall (i) promptly notify Customer You of credit balances in the Your Account payable to Customer You and, if such credit balance is free of obligation, pay such credit balance to Customer You no later than the next business day following the day funds are received by CGM other than de minimus amounts Customer You and CGM agree need not be paid, and (ii) . CGM shall promptly furnish to the Securities and Exchange Commission (“SEC”) copies or extracts of CGM’s records pertaining to Customer’s Your assets as the SEC may lawfully request. The representations in this Agreement shall be continuing representations during the term of the Agreement.