Free Credit Balances. Your selection of a sweep program above will not be effected until your Account paperwork has been accepted by LPL as being in good order. Until such time, available cash balances (from securities transactions, dividend and interest payments, deposits and other activities) will not be automatically swept and will be held as a free credit balance. A free credit balance is a liability of LPL and payable to the Account on demand. Interest will not be paid to the Account on free credit balances. Unless we hear from you to the contrary, it is our understanding that any free credit balances held in your Account are pending investment. Free credit balances may be used by LPL in the ordinary course of its business subject to the requirements of Rule 15c3-3 under the Securities Exchange Act of 1934. The use of customer free credit balances generally generates revenue for LPL in the forms of interest and income, which LPL retains as additional compensation for its services to its clients. Under these arrangements, LPL will generally earn interest or a return based on short-term market interest rated prevailing at the time. If you are acting on behalf of a Plan, the Responsible Plan Fiduciary agrees that it has independently determined that holding cash balances, pending LPL’s acceptance of the Account, as a free credit balance, which does not earn income for the Plan, is both (i) reasonable and in the best interests of the Plan and (ii) that the Plan receives no less, nor pays no more, than adequate consideration with respect to this arrangement. If the Responsible Plan Fiduciary chooses to avoid holding un-invested cash as a free credit balances, the Plan should not fund the Account until after the Account paperwork has been accepted by LPL as being in good order.
Free Credit Balances. You hereby authorize Bear Xxxxxxx to use any free credit balance awaiting investment or reinvestment in any of your accounts in accordance with all applicable rules and regulations and to pay interest thereon at such rate or rates and under such conditions as are established from time to time by Bear Xxxxxxx for such accounts and for the amounts of cash so used.
Free Credit Balances. To the extent that I have elected to participate in the Axos Clearing Insured Deposit (DLD) program, I authorize You to invest the free credit balances in My account. I authorize You, without further notice, to redeem Myfundsfrom the DLD Programto the extent necessary to satisfy any debits arising in any of My accounts. I understand that I have the option of liquidating the balance of my DLD Programfunds and either keeping them or returning the proceeds to My account. I have chosen this option in full understanding of the alternatives available to Me as well as the cost, benefits and risks of this selection and the alternatives.
Free Credit Balances. To the extent that I have elected to participate in the COR Insured Deposit (DLD) program, I authorize You to invest the free credit balances in My account. I authorize You, without further notice, to redeem Myfundsfrom the DLD Program to the extent necessary to satisfy any debits arising in any of My accounts. I understand that I have the option of liquidating the balance of my DLD Program funds and either keeping them or returning the proceeds to My account. I have chosen this option in full understanding of the alternatives available to Me as well as the cost, benefits and risks of this selection and the alternatives.
Free Credit Balances. Any monies held by the Firm from time to time to your credit are payable on demand, need not be segregated and may be used by the Firm in the ordinary conduct of its business. You acknowledge that the relationship between you and the Firm with respect to such monies is one of debtor and creditor only.
Free Credit Balances. Your selection of a sweep program above will not be effected until your Account paperwork has been accepted by LPL as being in good order. Until such time, available cash balances (from securities transactions, dividend and interest payments, deposits and other activities) will not be automatically swept and will be held as a free credit balance. A free credit balance is a liability of LPL and payable to the Account on demand. Interest will not be paid to the Account on free credit balances. Unless Client notifies LPL to the contrary, it is LPL’s understanding that any free credit balances held in your Account are pending investment. Free credit balances may be used by LPL in the ordinary course of its business subject to the requirements of Rule 15c3-3 under the Securities Exchange Act of 1934. The use of customer free credit balances generally generates revenue for LPL in the forms of interest and income, which LPL retains as additional compensation for its services to its clients. Under these arrangements, LPL will generally earn interest or a return based on short-term market interest rated prevailing at the time.
Free Credit Balances. I understand that Alpaca shall not be obligated to pay interest on any free credit balance in my Account, and without notice, can use any and all free credit balances to the extent necessary to satisfy any debts arising in any of My Accounts. I further understand that Xxxxxx receives from its custodian banks and clearing relationships, interest and/or rebates derived from customer margin debt balances and customer free credit balances.
Free Credit Balances. Any monies held by the Broker from time to time to the Customer’s credit are payable on demand, need not be segregated and may be used by the Broker in the ordinary conduct of its business. The Customer acknowledges that the relationship of the Customer and the Broker with respect to such monies is one of debtor and creditor only.
Free Credit Balances. You authorize XX Xxxxxx to use any free credit balance awaiting investment or reinvestment in any of your accounts in accordance with all Applicable Laws and to pay interest thereon at such rate or rates and under such conditions as are established from time to time by XX Xxxxxx for such accounts and for the amounts of cash so used. In accordance with applicable regulations, free credit balances are carried in customers’ accounts pending, and with a view towards, reinvestment. XX Xxxxxx may determine not to pay interest on free credit balances representing
(a) uncollected funds; (b) funds that are deposited and subsequently withdrawn prior to the expiration of the minimum time period required by XX Xxxxxx; or (c) any credit balances created or increased solely for the purpose of receiving interest thereon.
Free Credit Balances. Any free credit balance in the Account shall be payable on demand. It shall be recorded in the books of the Broker on a regular basis, shall not be segregated and may be used by the Broker in the course of its business operations within the limits prescribed by regulatory authorities.
