Non-Transferable Securities Sample Clauses

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Open, approve, and monitor your brokerage account. • Transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate your brokerage account in compliance with applicable laws and regulations. • If you have a margin account, advise you of margin requirements and ensure that your acc...
Sample 1Sample 2See All (10)
AutoNDA by SimpleDocs
Non-Transferable Securities. In the event that any securities in your Brokerage Account become non-transferable, our Clearing Firm is authorized to remove them from your Brokerage Account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services can be due to a number of reasons, including that the issuer of such securities is no longer in business and/or is insolvent. Please note the following: (a) There are no known markets for these securities. (b) Our Clearing Firm is unable to deliver certificates to you representing these Any new deposits (including checks) and any proceeds from transactions are credited promptly to your Core Account. Please note that, while incoming checks will begin to earn dividends or interest upon deposit, in most circumstances you will have to wait up to four days before being able to draw on the proceeds. If you have not elected to participate in the TIS Sweep Program your Core Account credits (which are considered cash balances awaiting reinvestment) can earn interest at our discretion. The rate of any interest paid (if any), as well as any applicable minimums, are determined by our Clearing Firm or us and each firm has the right, in its sole discretion, to change such terms without notice to you. In addition to the Core Account, your Brokerage Account includes an Income Account which receives furnished by TIS or its affiliates, including Truist Bank, in which you have an interest. Interest on any margin debt will accrue beginning the day credit is extended and is subject to the terms of the Supplemental Application for NFS Margin Account Privileges. Money market fund shares used to pay debits are redeemed at the NAV in effect at the time (typically $1.00).
Sample 1
Non-Transferable Securities. If the Agent receives non-transferable securities (other than an option to purchase Shares, as contemplated by subsection (b)) as part of any Remuneration, then the Agent shall hold such securities on behalf and for the benefit of the Management Company until such time as either (i) such securities become transferable, upon such time the Agent shall transfer as soon as practicable such securities to the Management Company or a nominee thereof, or (ii) the Management Company directs the Agent to sell as soon as practicable such securities, upon such time the Agent shall sell such securities and remit the resulting proceeds to the Management Company or a nominee thereof.
Sample 1
Non-Transferable Securities. RBC CM reserves the right to remove from clients’ accounts any securities that have no known transfer agent or administrator. The absence of a transfer agent or administrator means that a security cannot be transferred into the name of a new owner and thus cannot be traded, and it is a strong indicator that a security’s issuer is inactive or insolvent. RBC CM removes any security that has had this characteristic for a period of six years or longer. Removed securities are reported on the client’s year-end tax statement. Affected clients should consult their tax advisor for an opinion on whether they may claim a tax loss. Clients may request, through their financial professional, to receive a letter stating that there is no known current market for the removed security; however, the letter should not be considered to be conclusive evidence of a security’s worthlessness.
Sample 1
Non-Transferable Securities. If Xxxxxx Xxxxxxx becomes aware that transfer agent services are no longer available for any Securities in the Account, Xxxxxx Xxxxxxx reserves the right to remove such security from the Account. Xxxxxx Xxxxxxx will issue the Client a receipt in lieu of a physical certificate as evidence of the Client’s ownership of the Securities. If at any time after the issuance of such receipt, Xxxxxx Xxxxxxx becomes aware that transfer agent services have been reinstated, Xxxxxx Xxxxxxx will make reasonable efforts to have the Securities restored to the Account, provided the Account has not been closed. In the event that the Account has been closed, Xxxxxx Xxxxxxx will send a letter to the last mailing address Xxxxxx Xxxxxxx has on file for the Client requesting instructions from the Client as to the disposition of such Securities. If Xxxxxx Xxxxxxx does not receive a timely response, the Securities will be considered unclaimed property and will be escheated to the province or territory of the Client’s last known address in accordance with applicable provincial or territorial law. After the escheatment of any such Securities, the Client will need to contact that province or territory to claim the Securities.
Sample 1
Non-Transferable Securities. If the Agent receives non-transferable securities (other than an option to purchase Shares, as contemplated by subsection (b)) as part of any Remuneration, then: (i) the Agent shall not amend or modify such securities, waive any of the provisions thereof, or enter into any agreement or understanding with respect to such securities, in each case, without the prior written consent of the Management Company; and (ii) the Agent shall hold such securities on behalf and for the benefit of the Management Company until such time as either (x) such securities become transferable, upon such time the Agent shall transfer as soon as practicable such securities to the Management Company or a nominee thereof, or (y) the Management Company directs the Agent to sell as soon as practicable such securities, upon such time the Agent shall sell such securities and remit the resulting proceeds to the Management Company or a nominee thereof.
Sample 1
Non-Transferable Securities. In the event that any securities in your account become non- transferable, Green Pier may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Note the following: • There are no known markets for these securities. • Green Pier is unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, Green Pier will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with Green Pier, you consent to the actions as described above, and you waive any claims against Green Pier arising out of such actions. You also understand that Green Pier does not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Customer Identification Program Notice To help the government fight financial crimes, federal regulation requires Green Pier to obtain your name, date of birth, address, and a government-issued ID number before opening your account, and to verify the information. In certain circumstances, Green Pier may obtain and verify comparable information for any person authorized to make transactions in an account. Also, federal regulation requires us to obtain and verify the beneficial owners and control persons of legal entity customers. Requiring the disclosure of key individuals who own or control a legal entity helps law enforcement investigate and prosecute crimes. Your account may be restricted or closed if Green Pier cannot obtain and verify this information. Green Pier will not be responsible for any losses or damages (including, but not limited to, lost opportunities) that m...
Sample 1
AutoNDA by SimpleDocs

Related to Non-Transferable Securities

  • Non-Transferable The Grantee may not transfer this Option except by will or the laws of descent and distribution. This Option shall not be otherwise transferred, assigned, pledged, hypothecated or disposed of in any way, whether by operation of law or otherwise, and shall be exercisable during the Grantee's lifetime only by the Grantee or his guardian or legal representative.

  • Restrictions on Public Sale by Holders of Registrable Securities Each Holder of Registrable Securities agrees, if requested by the underwriters of an Underwritten Offering, to enter into a customary letter agreement with such underwriters providing such Holder will not effect any public sale or distribution of Registrable Securities during the 60 calendar day period beginning on the date of a prospectus or prospectus supplement filed with the Commission with respect to the pricing of any Underwritten Offering, provided that (i) the duration of the foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the Partnership or the officers, directors or any other Affiliate of the Partnership on whom a restriction is imposed and (ii) the restrictions set forth in this Section 2.07 shall not apply to any Registrable Securities that are included in such Underwritten Offering by such Holder. In addition, this Section 2.07 shall not apply to any Holder that is not entitled to participate in such Underwritten Offering, whether because such Holder delivered an Opt-Out Notice prior to receiving notice of the Underwritten Offering or because such Holder holds less than $15 million of the then-outstanding Registrable Securities.

  • Non-Transferability Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

  • Aggregation of Registrable Securities All Registrable Securities held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement.

  • Transfer Restricted Securities The securities entitled to the benefits of this Agreement are the Transfer Restricted Securities.

  • Warrants Transferable Subject to compliance with the terms and conditions of this Section 11, this Warrant and all rights hereunder are transferable, without charge to the holder hereof (except for transfer taxes), upon surrender of this Warrant properly endorsed or accompanied by written instructions of transfer. With respect to any offer, sale or other disposition of this Warrant or any Shares acquired pursuant to the exercise of this Warrant before registration of such Warrant or Shares, the holder hereof agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with a written opinion of such holder’s counsel, or other evidence, if requested by the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or the Shares and indicating whether or not under the Act certificates for this Warrant or the Shares to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, if so requested, the Company, as promptly as practicable, shall notify such holder that such holder may sell or otherwise dispose of this Warrant or such Shares, all in accordance with the terms of the notice delivered to the Company. If a determination has been made pursuant to this Section 11 that the opinion of counsel for the holder or other evidence is not reasonably satisfactory to the Company, the Company shall so notify the holder promptly with details thereof after such determination has been made. Each certificate representing this Warrant or the Shares transferred in accordance with this Section 11 shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws, unless in the aforesaid opinion of counsel for the holder, such legend is not required. In order to ensure compliance with such laws, the Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.

  • Non-Transferability of RSUs Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned, alienated, transferred, pledged, attached or otherwise encumbered except as provided in Section 9(a) of the Plan. Any purported sale, assignment, alienation, transfer, pledge, attachment or other encumbrance of RSUs in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be void.

  • Non-Transferability of Options The Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee.

  • Non-Transferability of Option This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

  • Transfer of Restricted Securities (a) Restricted Securities are transferable only pursuant to (i) Public Offerings, (ii) Rule 144 of the Securities and Exchange Commission (or any similar rule or rules then in force) if such rule or rules are available and (iii) subject to the conditions specified in clause (b) below, any other legally available means of transfer. (b) In connection with the transfer of any Restricted Securities (other than a transfer described in Sections 4(a)(i) or (ii) above or to any Affiliate of an Investor), the holder thereof shall deliver written notice to the Company describing in reasonable detail the transfer or proposed transfer. If the holder of the Restricted Securities delivers to the Company an opinion of Xxxxxxxx & Xxxxx LLP or other counsel that no subsequent transfer of such Restricted Securities shall require registration under the Securities Act, the Company shall promptly upon such contemplated transfer deliver to the prospective transferor new certificates for such Restricted Securities that do not bear the Securities Act legend set forth in Section 7C. If the Company is not required to deliver new certificates for such Restricted Securities not bearing such legend, the holder thereof shall not transfer the same until the prospective transferee has confirmed to the Company in writing its agreement to be bound by the conditions contained in this Section 4 and Section 7C. (c) Upon the request of an Investor, the Company shall promptly supply to such Investor or its prospective transferees all information regarding the Company required to be delivered in connection with a transfer pursuant to Rule 144A of the Securities and Exchange Commission.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!