Fails to Deliver. In the event (a) a “locate” was not obtained by your broker in connection with a sale for a short account notwithstanding your representation to the contrary, XX Xxxxxx may buy the securities for your account and risk, and charge your account for all costs and expenses incurred by it and (b) you fail to make delivery of securities on a timely basis to enable XX Xxxxxx to settle a sale for a long account, you shall pay to XX Xxxxxx any losses, liability or expenses incurred by it.
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Samples: Institutional Account Agreement, Institutional Account Agreement (Global Indemnity PLC), Institutional Account Agreement
Fails to Deliver. In the event (a) a “locate” was not obtained by your broker in connection with a sale for a short account notwithstanding your representation to the contrary, XX Xxxxxx may buy the securities for your account and risk, and charge your account for all costs and expenses incurred by it and (b) you fail to make delivery of securities on a timely basis to enable XX Xxxxxx to settle a sale for a long account, you shall pay to XX Xxxxxx any losses, liability or expenses incurred by it.
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