Common use of Customer's Settlement Obligation Clause in Contracts

Customer's Settlement Obligation. In the event your Prime Broker indicates its intention not to settle, or fails to settle, any of your Prime Brokerage Transactions, you shall be responsible and liable to the Executing Broker and Pershing for settling such Prime Brokerage Transaction(s) directly with the Executing Broker and Pershing in a margin account that the Executing Broker will open or has opened in your name on the books of Xxxxxxxx in accordance with Regulation T of the Board of Governors of the Federal Reserve System. The Executing Broker shall send you a new confirmation of the replacement transaction(s).

Customer's Settlement Obligation. In the event your Prime Broker indicates its intention not to settle, or fails to settle, any of your Prime Brokerage Transactions, you shall be responsible and liable to the Executing Clearing Broker and Pershing for settling such Prime Brokerage Transaction(s) directly with the Executing Clearing Broker and Pershing in a margin account that the Executing Clearing Broker will open or has opened in your name on the its books of Xxxxxxxx in accordance with Regulation T of the Board of Governors of the Federal Reserve System. The Executing Clearing Broker shall send you a new confirmation of the replacement transaction(stransactions(s).

Customer's Settlement Obligation. In the event your Prime Broker indicates its intention not to settle, or fails to settle, any of your Prime Brokerage Transactions, you Customer shall be responsible and liable to the Executing Clearing Broker and Pershing for settling such Prime Brokerage Transaction(s) directly with the Executing Clearing Broker and Pershing in a margin account that the Executing Clearing Broker will open or has opened in your Customer’s name on the its books of Xxxxxxxx in accordance with Regulation T of the Board of Governors of the Federal Reserve System. The Executing Clearing Broker shall send you Customer a new confirmation of the replacement transaction(s)transaction.

Customer's Settlement Obligation. In the event your Prime Broker indicates its intention not to settle, or fails to settle, any of your Prime Brokerage Transactions, you shall be responsible and liable to the Executing Clearing Broker and Pershing for settling such Prime Brokerage Transaction(s) Transaction directly with the Executing Clearing Broker and Pershing in a margin account that the Executing Clearing Broker will open or has opened in your name on the its books of Xxxxxxxx in accordance with Regulation T of the Board of Governors of the Federal Reserve System. The Executing Clearing Broker shall send you a new confirmation of the replacement transaction(s).