Common use of INTEREST CHARGES AND PAYMENTS Clause in Contracts

INTEREST CHARGES AND PAYMENTS. I agree to pay interest, to the extent not prohibited by the laws of the State of Alabama, upon all amounts advanced and other balances due in my accounts in accordance with Clearing Firm’s usual custom, which may include the compounding of interest. Clearing Firm’s custom, which may change from time to time, is set forth in its disclosure statement, which by this reference is herein specifically incorporated. By entering into any transactions after I receive Clearing Firm’s disclosure statement, I acknowledge that I have read and agreed to its terms for all past and future transactions in my account. I understand that interest on all debit balances shall be payable ON DEMAND and that in the absence of any demand interest shall be due on the first business day of each interest period. My daily net debit balance will include accrued interest I have not paid from prior interest periods, if any. I understand that to the extent permitted by applicable law Clearing Firm may charge me interest on the unpaid interest previously added to my debit balance; that is, Clearing Firm may charge me compound interest. Payments of interest and principal and all other payments made by me under this agreement shall be made to Clearing Firm’s main office in Birmingham, Alabama. Clearing Firm may, in its sole discretion, not deem any check or other remittance to constitute payment until it has been paid by the drawee and the funds representing such payment have become available to it.

INTEREST CHARGES AND PAYMENTS. I agree to pay interest, to the extent not prohibited by the laws of the State of Alabama, upon all amounts advanced and other balances due in my accounts in accordance with Clearing Firm’s usual custom, which may include the compounding of interest. Clearing Firm’s custom, which may change from time to time, is set forth in its disclosure statement, which by this reference is herein specifically incorporatedincorpo- rated. By entering into any transactions after I receive Clearing Firm’s disclosure statement, I acknowledge that I have read and agreed to its terms for all past and future transactions in my account. I understand that interest on all debit balances shall be payable ON DEMAND XX- XXXX and that in the absence of any demand interest shall be due on the first business day of each interest period. My daily net debit balance will include accrued interest I have not paid from prior interest periods, if any. I understand that to the extent permitted by applicable ap- plicable law Clearing Firm may charge me interest on the unpaid interest previously added to my debit balance; that is, Clearing Firm may charge me compound interest. Payments of interest and principal and all other payments made by me under this agreement shall be made to Clearing Firm’s main office in Birmingham, Alabama. Clearing Firm may, in its sole discretion, not deem any check or other remittance to constitute payment until it has been paid by the drawee and the funds representing such payment have become available to it.