Failure To Comply With Documentation Requirements Sample Clauses

Failure To Comply With Documentation Requirements. If any documentary or agreement request made by Xxxxxxxxxx Correspondent Services has not been satisfied, Xxxxxxxxxx Correspondent Services may in its sole discretion refuse any or all orders or transactions for the Introduced Account or close the Introduced Account at any time. If orders are placed or transactions executed for an Introduced Account after Xxxxxxxxxx Correspondent Services has given notice of insufficient documentation, no commission credit will be granted to you on such orders or transactions. On receipt of the necessary documents, this restriction will be lifted with respect to future commissions, but no past commissions will be credited or paid.

Failure To Comply With Documentation Requirements i) If the documents necessary to comply with the account documentation requirements of applicable Rules, Standards, and Laws and Regulations have not been received by the Clearing Broker after prior request has been made therefor, the Clearing Broker may give the Introducing Broker notification that no orders and/or requests for disbursements will be accepted for the Introduced Account involved. For purposes of this Section 4.i), such non-acceptance shall become effective immediately if the Clearing Broker reasonably believes that acceptance of any order and/or request for disbursement would pose a regulatory, credit or litigation risk to the Clearing Broker. In the absence of such belief, the Introducing Broker shall be given 5 days' prior notice of such non-acceptance. If orders are placed for such account after immediate notice is given, or after the expiration of the 5 days' prior notice, as applicable, the Clearing Broker may reject such orders, but if such orders are accepted, full commission credit will be granted on such orders. This Agreement is not in any way intended to limit the responsibility of the Clearing Broker under the Rules, Standards, Laws and Regulations with respect to Introduced Accounts. Further, acceptance of an order after notification has been given shall not constitute a waiver of the Clearing Broker's right to reject any subsequent order for such Introduced Account if it fails to meet its account documentation requirements. ii) The Clearing Broker may treat transactions in any Introduced Account as cash transactions until such time as the Clearing Broker has received and accepted Margin Agreements, duly and validly executed in respect of such Introduced Account.