Common use of For Legal Entities Clause in Contracts

For Legal Entities. Corporate Account Application If the Client has opened more than one Account, the Company shall be authorised to consider and treat these different Accounts as a single unit. Among other rights that the Company has in the way of handing these accounts is the transferring of funds between accounts to cover possible negative balances, of any of these accounts, without this affecting in any way the other right of the Company. Any funds received in a currency for which the Client does not hold an account shall be converted by the Company into the Client’s base currency. The conversion shall be made at the exchange rate applied on the day and at the time when the relevant funds are at the disposal of the Company. On request, the Client may open a sub-account in that relevant currency, subject to the Company’s offer. This Agreement shall become effective upon the first funding of the Client’s Account, provided the Company has sent the Client a written confirmation for his acceptance. It is the Client’s sole responsibility to inform the Company as to whether information concerning Client’s account Transactions should be reported to Client’s employer, including its compliance officer, and as to whether contract notes and statements of Client’s account should be sent to that compliance officer or to any other person authorised by Client’s employer to receive such information.