Common use of Judicial Settlement of Accounts Clause in Contracts

Judicial Settlement of Accounts. The Custodian shall have the right to apply to a court of competent jurisdiction for the judicial settlement of a Depositor’s Custodial Account at any time. In any such judicial action or proceeding, only the Custodian and the Depositor shall be the necessary parties and no other person having an interest in the Custodial Account shall be entitled to any notice or service of process. In the event of any dispute with a Depositor with regard to his or her Custodial Account, any conflicting claims to some or all of the assets in the Depositor’s Account upon the Depositor’s death and/or any uncertainty or dispute as to the person to whom payment of any funds in the Depositor’s Custodial Account shall be made, the Custodian, without any liability to any person or party may: retain some or all of the assets in a Depositor’s Custodian Account until it has received evidence to its satisfaction that ownership of such assets has been resolved; file legal pleadings or interpleadings with the appropriate court of jurisdiction in the interest of obtaining resolution of such conflicting claims with the result that any judgment, order or action entered in such court proceedings shall be conclusive upon all persons claiming under this Agreement; resolve or settle such dispute or claim through other means, inclusive of arbitration proceedings pursuant to the terms of the Customer Agreement executed by the Depositor and the Custodian and/or the Depositor and the Brokerage Firm as defined herein; charge the Depositor’s Custodial Account for any and all fees or expenses, including but not limited to, accounting fees and attorney’s fees, both internal and external, incurred in connection with such claim or dispute and such charge may constitute a lien upon the Depositor’s Custodial Account until paid in full.

Judicial Settlement of Accounts. The Custodian shall have the right to apply to a court of competent jurisdiction for the judicial settlement of a Depositor’s Custodial Account at any time. In any such judicial action or proceeding, only the Custodian and the Depositor shall be the necessary parties and no other person having an interest in the Custodial Account shall be entitled to any notice or service of process. In the event of any dispute with a Depositor with regard to his or her Custodial Account, any conflicting claims to some or all of the assets in the Depositor’s Account upon the Depositor’s death and/or any uncertainty or dispute as to the person to whom payment of any funds in the Depositor’s Custodial Account shall be made, the Custodian, without any liability to any person or party may: retain some or all of the assets in a Depositor’s Custodian Custodial Account until it has received evidence to its satisfaction that ownership of such assets has been resolved; file legal pleadings or interpleadings with the appropriate court of jurisdiction in the interest of obtaining resolution of such conflicting claims with the result that any judgment, order or action entered in such court proceedings shall be conclusive upon all persons claiming under this Agreement; resolve or settle such dispute or claim through other means, inclusive of or arbitration proceedings pursuant to the terms of the Customer Agreement executed by the Depositor and the Custodian and/or the Depositor and the Brokerage Firm as defined herein; charge the Depositor’s Custodial Account for any and all fees or expenses, including but not limited to, accounting fees and attorney’s fees, both internal and external, incurred in connection with such claim or dispute and such charge may constitute a lien upon the Depositor’s Custodial Account until paid in full.

Judicial Settlement of Accounts. The Custodian shall have the right to apply to a court of competent jurisdiction for the judicial settlement of a Depositor’s Custodial Account at any time. In any such judicial action or proceeding, only the Custodian and the Depositor shall be the necessary parties and no other person having an interest in the Custodial Account shall be entitled to any notice or service of process. In the event of any dispute with a Depositor with regard to his or her Custodial Account, any conflicting claims to some or all of the assets in the Depositor’s Account upon the Depositor’s death and/or any uncertainty or dispute as to the person to whom payment of any funds in the Depositor’s Custodial Account shall be made, the Custodian, without any liability to any person or party may: retain some or all of the assets in a Depositor’s Custodian Custodial Account until it has received evidence to its satisfaction that ownership of such assets has been resolved; file legal pleadings or interpleadings with the appropriate court of jurisdiction in the interest of obtaining resolution of such conflicting claims with the result that any judgment, order or action entered in such court proceedings shall be conclusive upon all persons claiming under this Agreement; resolve or settle such dispute or claim through other means, inclusive of arbitration proceedings pursuant to the terms of the Customer Agreement executed by the Depositor and the Custodian and/or the Depositor and the Brokerage Firm as defined herein; charge the Depositor’s Custodial Account for any and all fees or expenses, including but not limited to, accounting fees and attorney’s fees, both internal and external, incurred in connection with such claim or dispute and such charge may constitute a lien upon the Depositor’s Custodial Account until paid in full.