Common use of Payment of Indebtedness Upon Demand and Liability for Costs of Collection Clause in Contracts

Payment of Indebtedness Upon Demand and Liability for Costs of Collection. The Customer shall at all times be liable for the payment upon demand of any debit balance or other obligations owing in any of the accounts of the Customer with Pershing, and the Customer shall be liable to Pershing for any deficiency remaining in any such accounts in the event of the liquidation thereof, in whole or in part, by Pershing or by the Customer; and, the Customer shall make payments of such obligations and indebtedness upon demand. The reasonable cost and expense of collection of the debit balance, recovery of securities, and any unpaid deficiency in the accounts of the Customer with Pershing, including, but not limited to attorney’s fees, incurred and payable or paid by Pershing shall be payable to Pershing by the Customer.

Payment of Indebtedness Upon Demand and Liability for Costs of Collection. The Customer shall at all times be liable for the payment upon demand of any debit balance or other obligations owing in any of the accounts of the Customer with Pershing, and the Customer shall be liable to Pershing for any deficiency remaining in any such accounts in the event of the liquidation thereof, in whole or in part, by Pershing or by the Customer; and, the Customer shall make payments of such obligations and indebtedness upon demand. The reasonable cost and expense of collection of the debit balance, recovery of securities, and any unpaid deficiency in the accounts of the Customer with PershingXxxxxxxx, including, but not limited to attorney’s fees, incurred and payable or paid by Pershing shall be payable to Pershing by the Customer.