FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS. (a) COMMISSIONS: FEES FOR CLEARING SERVICES.
(i) Correspondent has provided to Pensxx xxx basic commission schedule and Pensxx xxxl charge each Customer the commission shown on such schedule or which Correspondent otherwise directs Pensxx xx charge on each transaction. Correspondent's basic commission schedule may be amended from time to time by written instructions to Pensxx xxxm Correspondent. Pensxx xxxll be required to implement such changes only to the extent that they are within the usual capabilities of Pensxx'x xxxa processing and operations systems and only over such reasonable time as Pensxx xxx deem xxxessary or desirable to avoid disruption of Pensxx'x xxxmal operational capabilities. Pensxx xxx charge Correspondent for changes in the basic commission schedule. Correspondent's basic Proprietary and Confidential commission schedule shall be within the format of Pensxx'x computer system.
(ii) Pensxx xxxl charge Correspondent for clearing services according to the fee schedule set forth in Schedule A attached hereto and incorporated herein for all purposes. Clearing charges may be modified from time to time by Pensxx xxxhout re-execution of this Agreement. To implement new charges, Pensxx xxxl mail or telecopy a new Schedule A to Correspondent. If Correspondent does not object to the new charges within ten (10) days of such mailing or telecopying, as provided below, the new charges shall become effective and the new Schedule A shall become a part of and modify this Agreement without any further action by the parties. Upon such event, Pensxx xxx Correspondent shall replace the previous Schedule A with the new Schedule A. Correspondent may object to new charges by giving notice canceling this Agreement as provided under Sections 12 and 19(m). During the pendency of such notice period, the previous charges shall continue to be effective until termination.
FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS. (a) Commissions; Fees for Clearing Services
(i) Correspondent has provided to Southwest its basic commission schedule and Southwest will charge each Customer the commission shown on such schedule or which Correspondent otherwise directs Southwest to charge on each transaction. Correspondent's basic commission schedule may be amended from time to time by written instructions to Southwest from Correspondent; provided, however, that Southwest shall be required to implement such changes only to the extent they are within the usual capabilities of Southwest's data processing and operations systems and only over such reasonable time as Southwest may deem necessary or desirable to avoid disruption of Southwest's normal operational capabilities. Southwest may charge Correspondent for changes in the basic commission schedule. Correspondent's basic commission schedule shall be within the format of Southwest's computer system.
(ii) Southwest will charge Correspondent for clearing services according to the fee schedule set forth in Schedule A attached hereto and, if applicable, Schedule B.
(iii) Southwest may charge Correspondent expenses incurred by Southwest on behalf of Correspondent pursuant to this Agreement. Expenses incurred by Southwest on behalf of Correspondent that may be deducted from any payments due to Correspondent from Southwest include, but are not limited to, overlay of forms, system equipment expenses, special programming, changes to commissions schedules and financial report information related thereto, installation of data communication lines and brokerage related credit inquiries, legal transfers, Regulation T extensions, Mailgrams (buy-in or sellout), microfiche of records, insurance protection for Accounts in excess of the amounts provided by the Security Investors Protection Corporation, third party vendor fees and costs incurred in failure of Correspondent or Customers to provide correct social security or tax identification numbers.
FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS. Execution fees shall be available on Northvale website and such an arrangement shall form an integral part of this Agreement; the client agrees that he reviewed & accepted the fees, and His/her will be obliged to review the website for any changes related to execution fees. Northvale and the Client may at any time conclude an arrangement to determine the markets for which the client utilizes Northvale for routing its trade, such an arrangement together with any subsequent amendments, if any, mutually agreed upon to add or remove any new markets shall form an integral part of this agreement, but in all cases, any arrangement to this effect shall only be effective when the setup is done in the system. Execution fee may be amended according to the determination of the regulatory authority in each market, provided that any such changes shall be applicable from the date of approval by the market regulatory authority. The Client may object to new charges by giving notice cancelling this Agreement as provided under the termination clause of this agreement. During the pendency of such notice period, the previous charges shall continue to be effective until termination. If change is due to a change made by the regulators new charges will be automatically applicable from the effective date as defined by the regulators even during the termination notice period. Client & Northvale hereby agree to carry out execution settlement based on net settlement on daily basis, and hereby agree each to pay amount due to other party on settlement determined date. In case the value of purchase transactions exceed the sum of sale transactions, Client is responsible to pay Northvale on settlement date. In case sale transactions sum exceed purchase transactions sum, Northvale is responsible to pay difference due to Client on Settlement Date. Settlements between Northvale and Client shall be carried always through bank transfer in market's currency, after due deduction of bank fees. Client is responsible to the payment of transfer fees to the bank. Based on local regulations, and any agreements regarding appointed Custodian, Client or final Client may be ordered to carry out necessary settlement for any trading transactions directly with the concerned market, or with the Custodian. In such cases, Northvale and Client may carry out necessary settlement based on net commission sum, unless commission sum is settled directly through the market, or Custodian, on behalf of Client or final Cl...
FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS
