Common use of Initial Funding Clause in Contracts

Initial Funding. In order to establish an Advisory Solutions Fund Models Account, I agree to transfer cash and/or marketable securities into my Account upon Xxxxxx Xxxxx’ acceptance and approval of this Services Agreement. If I transfer into my Account marketable securities that are not Program Funds, I hereby direct Xxxxxx Xxxxx, upon its acceptance and approval of this Services Agreement, in its capacity as a broker-dealer, to promptly sell those securities at market, which may take several trading days, without regard for any tax consequences to me. I understand and agree that this direction to sell such securities may result in taxable events and material taxable gains or losses to me, and I may pay redemption fees and/or sales charges that may be assessed on the liquidation or redemption of securities. Moreover, I understand and agree that I have determined to participate in Advisory Solutions Fund Models and to direct the sales of those securities that are not Program Funds, and in making those decisions, I am not relying on the advice or recommendation of Xxxxxx Xxxxx (or its affiliates) or any Xxxxxx Xxxxx financial advisor as a primary basis for such decisions.

Initial Funding. In order to establish an Advisory Solutions Fund Models Account, I agree to transfer cash and/or marketable securities into my Account upon Xxxxxx Xxxxx’ and the Overlay Manager’s acceptance and approval of this Services Agreement. If I transfer into my Account marketable securities that are not Program Funds, I hereby direct authorize and instruct Xxxxxx Xxxxx, upon its acceptance and approval of this Services Agreement, Xxxxx in its capacity as a broker-dealer, Overlay Manager and/or Executing SMA Manager(s) to promptly sell those securities any marketable security that is not a Program Investment (or is otherwise not consistent with my Account Portfolio Objective) at market, which may take several trading days, without regard for any tax consequences to me. I understand and agree that this direction to sell such securities may result in taxable events and material taxable gains or losses to me, and I may pay redemption fees and/or sales charges that may be assessed on the liquidation or redemption of securities. Moreover, I understand and agree that I have determined to participate in Advisory Solutions Fund UMA Models and to direct the sales of those securities that are not Program FundsInvestments, and in making those decisions, I am not relying on the advice or recommendation of Xxxxxx Xxxxx (or its affiliates) or any Xxxxxx Xxxxx financial advisor as a primary basis for such decisions.