Common use of FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS Clause in Contracts

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: COMMISSIONS - FEES FOR CLEARING SERVICES. (i) Correspondent ALEX has provided to Pensxx xxx FSWC its basic commission schedule and Pensxx xxxl FSWC will charge each Customer the commission shown on such schedule or which Correspondent ALEX otherwise directs Pensxx xx FSWC to charge on each transaction. Correspondent's ALEX'S basic commission schedule may be amended from time to time by written instructions to Pensxx xxxm Correspondent. Pensxx xxxll FSWC from ALEX; provided, however, that FSWC shall be required to implement such changes only to the extent that they are within the usual capabilities of Pensxx'x xxxa FSWC's data processing and operations systems and only over such reasonable time as Pensxx xxx FSWC may deem xxxessary necessary or desirable to avoid disruption of Pensxx'x xxxmal FSWC's normal operational capabilities. Pensxx xxx FSWC may charge Correspondent ALEX for changes in the basic commission schedule. Correspondent's ALEX'S basic Proprietary and Confidential commission schedule shall be within the format of Pensxx'x FSWC's computer systemsystem and must be expressly agreed to by FSWC. (ii) Pensxx xxxl FSWC will charge Correspondent ALEX for clearing services according to the fee schedule set forth in Schedule A attached hereto and incorporated herein for all purposes. Clearing As of the close of each month, FSWC shall forward to ALEX a statement setting forth the fees earned in accordance with Schedule A and the amounts due thereunder. These charges shall be promptly paid by ALEX. Charges may be modified from time to time by Pensxx xxxhout FSWC without re-execution of this Agreement. To implement new charges, Pensxx xxxl FSWC will 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, ALEX; and the new charges shall become effective and upon the expiration of 30 days from the date of such mailing or telecopy. Upon the expiration of such 30 days, 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 30-day notice period, the previous charges shall continue Continue to be effective until terminationeffective. In addition, FSWC will charge ALEX expenses incurred by FSWC on behalf of ALEX pursuant to this Agreement. Expenses incurred by FSWC on behalf of ALEX that shall be deducted from any payments due to ALEX from FSWC include, but are not limited to, overlay of forms, system equipment expenses, changes to commission 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, excess Security Investors Protection Corporation protection for Accounts and costs incurred in failure of ALEX to provide social security or tax identification numbers.

FEES AND SETTLEMENTS FOR SECURITIES TRANSACTIONS. (a) COMMISSIONSCommissions: FEES FOR CLEARING SERVICESFees for Clearing Services. (i) Correspondent has provided to Pensxx xxx Xxxxxx its basic commission schedule and Pensxx xxxl Xxxxxx will charge each Customer the commission shown on such schedule or which Correspondent otherwise directs Pensxx xx Xxxxxx to charge on each transaction. Correspondent's basic commission schedule may be amended from time to time by written instructions to Pensxx xxxm Xxxxxx from Correspondent. Pensxx xxxll Xxxxxx shall be required to implement such changes only to the extent that they are within the usual capabilities of Pensxx'x xxxa Xxxxxx'x data processing and operations systems and only over such reasonable time as Pensxx xxx deem xxxessary Xxxxxx may xxxx necessary or desirable to avoid disruption of Pensxx'x xxxmal Xxxxxx'x normal operational capabilities. Pensxx xxx Xxxxxx may 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 Xxxxxx'x computer system. (ii) Pensxx xxxl Xxxxxx will 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 Xxxxxx without re-execution of this Agreement. To implement new charges, Pensxx xxxl Xxxxxx will 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 Ageement without any further action by the parties. Upon such event, Pensxx xxx Xxxxxx and 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) COMMISSIONSCommissions: FEES FOR CLEARING SERVICESFees for Clearing Services. (i) Correspondent has provided to Pensxx xxx Penson its basic commission schedule and Pensxx xxxl xxx Penson will charge each Customer the commission thx xxxmission shown on such schedule or which Correspondent otherwise directs Pensxx xx Penson to charge on each transaction. CorrespondentXxxrespondent's basic commission schedule may be amended from time to time by written instructions to Pensxx xxxm Penson from Correspondent. Pensxx xxxll be required Penson shalx xx xequired to implement such changes only to the extent that they are within the usual capabilities of Pensxx'x xxxa Penson's data processing and operations systems operxxxxxx xystems and only over such reasonable time as Pensxx xxx Penson may deem xxxessary necessary or desirable to avoid disruption xxxruption of Pensxx'x xxxmal Penson's normal operational capabilitiescapabxxxxxxx. Pensxx xxx Penson may charge Correspondent for changes xxxxxxs in the basic commission schedule. Correspondent's basic Proprietary and Confidential commission schedule shall be within the format of Pensxx'x Penson's computer system. (ii) Pensxx xxxl charge Penson will xxxxxx 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 Penson without re-execution of this AgreementAxxxxxxnt. To implement new charges, Pensxx xxxl Penson will mail or telecopy a new Schedule Schxxxxx 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 Penson and Correspondent shall replace the previous xxx xrevious 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). 20(m) During the pendency of such notice period, the previous charges shall continue to be effective until termination.