Common use of Confirmations and Statements Clause in Contracts

Confirmations and Statements. (a) PREPARATION AND TRANSMISSION. Pensxx xxxl prepare and send to Customers monthly statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements as to format and quality and will indicate that Correspondent is the introducing broker for the Account. Pensxx xxxl be responsible for preparing and transmitting confirmations. Upon prior written approval from Pensxx, Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art. III, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly or quarterly statements sent by Pensxx to Customers will be send to Correspondent. Pensxx xxxl also provide to Correspondent monthly statements of clearing services performed by Pensxx xxx Correspondent and Customer Accounts showing the fees charged for such services during the month, as provided in Section 8. (b) EXAMINATION AND NOTIFICATION OF ERRORS. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by Pensxx. Xxrrespondent shall notify Pensxx xx any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven days of such report, and (iii) information appearing on monthly statements or reports within 30 days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest any additional documentation which Pensxx xxxsonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential

Confirmations and Statements. (ax) PREPARATION AND TRANSMISSIONPreparation and Transmission. Pensxx xxxl Penson will prepare and send to Customers monthly montxxx statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements Penson's requirements as to format and quality and will indicate that Correspondent is the introducing broker for the Account. Pensxx xxxl Penson will be responsible for preparing and transmitting xxansmitting confirmations. Upon prior written approval from PensxxPenson, Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art. III, Section 12 Rule 2230 of the NASD Rules of Fair PracticeNASD's Conduct Rules. Copies of all monthly or quarterly statements sent by Pensxx Penson to Customers will be send to CorrespondentCorrespondexx. Pensxx xxxl Xenson will also provide to Correspondent monthly statements monthxx xxatements of clearing services performed by Pensxx xxx Penson for Correspondent and Customer Accounts showing Accounxx xxowing the fees charged for such services during the month, as provided in Section 8. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensxxPenson. Xxrrespondent Correspondent shall notify Pensxx xx any error Penson of anx xxxor claimed by Correspondent in Correspondenx xx any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven days of such report, and (iii) information appearing on monthly statements or reports within 30 days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest Penson's request any additional documentation which Pensxx xxxsonably Penson reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pensxx xxxl Southwest will prepare and send to Customers monthly statements of account accounts (or quarterly statements if no activity occurs in an account during any Exhibit 10.4 - Pg. 12 the calendar quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for correspondent introduced the Account. Pensxx xxxl Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon ; subject to prior written approval from Pensxx, by Southwest and compliance by Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly billings or quarterly statements sent by Pensxx to Customers will be send to Correspondent. Pensxx xxxl also provide to Correspondent monthly statements of clearing services performed by Pensxx xxx Correspondent and Customer Accounts showing the fees charged for such services during the month, confixxxxxxxx respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensxxSouthwest. Xxrrespondent Correspondent shall notify Pensxx xx Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to Exhibit 10.4 - Pg. 13 substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest Southwest's request any additional documentation which Pensxx xxxsonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pensxx xxxl Southwest will prepare and send to Customers monthly statements of account accounts (or quarterly statements if no activity occurs in an account during any Exhibit 10.6 - Pg. 12 the calendar quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for correspondent introduced the Account. Pensxx xxxl Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon ; subject to prior written approval from Pensxx, by Southwest and compliance by Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly billings or quarterly statements sent by Pensxx to Customers will be send to Correspondent. Pensxx xxxl also provide to Correspondent monthly statements of clearing services performed by Pensxx xxx Correspondent and Customer Accounts showing the fees charged for such services during the month, confirxxxxxxx respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensxxSouthwest. Xxrrespondent Correspondent shall notify Pensxx xx Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to Exhibit 10.6 - Pg. 13 substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest Southwest's request any additional documentation which Pensxx xxxsonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmissions. Pensxx xxxl Southwest will prepare and send to Customers monthly statements of account (or quarterly statements if no activity occurs in an account during any the calendar quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements Southwest's requirements as to format and quality and will indicate that Correspondent is the introducing broker for introduced the Account. Pensxx xxxl Unless otherwise agreed, Southwest will be responsible for preparing and transmitting confirmations. Upon prior written approval from Pensxx; provided, however, that Correspondent may assume the responsibility of preparing elect to prepare and transmitting transmit confirmations, including the responsibility for subject to prior approval by Southwest and compliance by Correspondent with the provisions of Art2230 NASD Conduct Rules. IIICorrespondent shall not generate and/or prepare any statements, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly xxxxxxxx or quarterly statements sent by Pensxx to Customers will be send to Correspondent. Pensxx xxxl also provide to Correspondent monthly statements of clearing services performed by Pensxx xxx Correspondent and Customer Accounts showing the fees charged for such services during the month, confirmations respecting any Account except as provided in Section 8this Agreement or pursuant to an agreement executed between Southwest and Correspondent that authorizes Correspondent to print and mail statements to Accounts on behalf of Southwest. If such an agreement has been executed, Correspondent covenants that it shall comply with all requirements for statements imposed upon Southwest of which Correspondent has notice or has been advised of by Southwest under all applicable laws, rules and regulations, including, but not limited to, the SEC, NASD, Federal Reserve Board and all other regulatory and self-regulatory agencies and bodies. Correspondent further covenants that it shall not modify or amend the agreed upon statement form provided without the prior written consent of Southwest. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensxxSouthwest. Xxrrespondent Correspondent shall notify Pensxx xx Southwest of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (ii) information appearing on daily reports within seven (7) calendar days of such report, and (iii) information appearing on monthly statements or reports within 30 thirty (30) calendar days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest Southwest's request any additional documentation which Pensxx xxxsonably Southwest reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.

Confirmations and Statements. (a) PREPARATION AND TRANSMISSIONPreparation and Transmission. Pensxx xxxl Xxxxxx will prepare and send to Customers monthly statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Pensxx'x xxxuirements Xxxxxx'x requirements as to format and quality and will indicate that Correspondent is the introducing broker for the Account. Pensxx xxxl Xxxxxx will be responsible for preparing and transmitting confirmations. Upon prior written approval from PensxxXxxxxx, Correspondent may assume the responsibility of preparing and transmitting confirmations, including the responsibility for compliance with the provisions of Art. III, Section 12 of the NASD Rules of Fair Practice. Copies of all monthly or quarterly statements sent by Pensxx Xxxxxx to Customers will be send to Correspondent. Pensxx xxxl Xxxxxx will also provide to Correspondent monthly statements of clearing services performed by Pensxx xxx Xxxxxx for Correspondent and Customer Accounts showing the fees charged for such services during the month, as provided in Section 8. (b) EXAMINATION AND NOTIFICATION OF ERRORSExamination and Notification of Errors. Correspondent shall examine promptly all monthly statements of account, monthly statements of clearing services and other reports provided to Correspondent by PensxxXxxxxx. Xxrrespondent Correspondent shall notify Pensxx xx Xxxxxx of any error claimed by Correspondent in any Account in connection with (i) any transaction prior to the settlement date of such transaction, (iitransaction,(ii) information appearing on daily reports within seven days of such report, and (iii) information iii)information appearing on monthly statements or reports within 30 days of Correspondent's receipt of any monthly statement or report. Any notice of error shall be accompanied by such documentation as may be necessary to substantiate Correspondent's claim. Correspondent shall provide promptly upon Pensxx'x xxxuest Xxxxxx'x request any additional documentation which Pensxx xxxsonably Xxxxxx reasonably believes is necessary or desirable to determine and correct any such error. Proprietary and Confidential.