Common use of CLIENT’S ACCOUNT Clause in Contracts

CLIENT’S ACCOUNT. 4.1 All monies, approved securities, approved debt securities or other properties received by Galaxy International Futures from the Client or from any other person, including the Clearing House for the Client’s Account shall be held by Galaxy International Futures as trustee, segregated from Galaxy International Futures’ own assets and paid into a segregated bank account, a segregated securities account or a segregated debt securities account (as appropriate) (collectively “Segregated Account(s)”) in the manner specified in paragraphs 7 to 12 of Schedule 4 to the Code and that all money or other property so held by Galaxy International Futures shall not form part of the assets of Galaxy International Futures for insolvency or winding up purposes but shall be returned to the Client promptly upon the appointment of a provisional liquidator or similar officer over all or any part of Galaxy International Futures’ business or assets.