Failure to Make Payment or Deliver Securities. A check received by Pershing from a customer shall not constitute payment until it has been paid and the proceeds are actually received and finally credited to Pershing (without any subsequent charge back) by its bank.
Appears in 7 contracts
Samples: Fully Disclosed Clearing Agreement (Gleacher & Company, Inc.), Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)
Failure to Make Payment or Deliver Securities. A check received by Pershing from a customer shall not constitute payment until it has been paid and the proceeds are actually received and finally credited to Pershing (without any subsequent charge backxxxxxx xack) by its bank.
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (American Portfolios Holdings Inc)
Failure to Make Payment or Deliver Securities. A check received by --------------------------------------------- Pershing from a customer shall not constitute payment until it has been paid and the proceeds are actually received and finally credited to Pershing (without any subsequent charge backchargeback) by its bank.
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (Ziegler Companies Inc)
