Common use of Mutual Funds Clause in Contracts

Mutual Funds. In the event that the Customer purchases or holds a mutual fund, the Customer agrees to read and understand the terms of its prospectus. Certain mutual funds reserve the right to change their purchasing, switching or redemption procedures or suspend or postpone redemptions under certain market conditions. Any mutual fund order entered with the Broker is placed on a best efforts basis as prescribed and recognized by the individual fund, and the Broker is not responsible for unexecuted orders due to the failure of any communication system. The Customer will be fully responsible for the information contained within the mutual fund prospectus and to hold the Broker, its Affiliates, and their respective officers and employees harmless for any deficiencies contained therein. The Customer authorizes the Broker to act as the Customer’s agent in the purchase and redemption of fund shares.