Common use of Prime Brokerage Services Clause in Contracts

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation. (b) Bear Xxxxxxx shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by you and your executing broker(s) provided that you have reported to Bear Xxxxxxx on trade date, by the time designated to you by Bear Xxxxxxx, all the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of a purchase, and further provided that Bear Xxxxxxx has either affirmed or not DK'd and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines not to settle a trade, Bear Xxxxxxx shall not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that notification sent to you under sub- paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition Bear Xxxxxxx may be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear Xxxxxxx, for any losses arising out of or incurred in connection with Bear Xxxxxxx' agreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such minimum net equity in cash or securities as Bear Xxxxxxx, in its sole discretion may require, from time to time [the "Bear Xxxxxxx Net Equity Requirements"], which shall in no event be less than the minimum net equity required by the SEC Letter (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shall: (i) notify all such executing brokers that Bear Xxxxxxx is no longer acting as your prime broker and (ii) either not affirm or indicate that it does not know ("DK") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Equity Requirements, (ii) Bear Xxxxxxx determines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking into consideration all the facts and circumstances Bear Xxxxxxx may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your in care of Bear Xxxxxxx, as your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear Xxxxxxx, at no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear Xxxxxxx. You hereby authorize Bear Xxxxxxx to disclose your name, address and tax I.

Prime Brokerage Services. (a) a. Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx Stearns will enter into an agreement with your executing broker(sbxxxxx(x) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx Stearns (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept Stearns wixx xxxxpt for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each such transaction, Bear Xxxxxxx Stearns will send you a notification of each trade placed with your xxur executing broker for settlement by us based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmationyou or your agent. (b) b. Bear Xxxxxxx Stearns shall be responsible for settling trades executed on your xx xxxx behalf by your executing broker(s) and reported to Bear Xxxxxxx Stearns by you and your executing broker(s) ), provided that you have xxve reported to Bear Xxxxxxx Stearns on trade date, by the time designated to you by Bear XxxxxxxBexx Xxxxrns, all the details of such trades including, but not limited xxxxxxd to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided provided, that Bear Xxxxxxx Stearns has either affirmed or not DK'd "OK'd" ("indicated it does xxx know") and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx Stearns determines not to settle a trade, Bear Xxxxxxx shall not Stearns shaxx xxx have settlement responsibility for such trade and xnd shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- paragraph a subparagraph (a) of this paragraphParagraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition addition, Bear Xxxxxxx Stearns may be required to cease providing prime brokerage services xxxxxxes to you in accordance with the Prime Brokerage Agreement. (c) c. In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx Stearns agrees to settle any trades executed on your behalf by such behalx xx xxch executing broker, regardless whether Bear Xxxxxxx Stearns either affirmed or did not DK OK and did not disaffirm such trades, you shall be solely responsible, responsible and liable to Bear Xxxxxxx, Stearns for any losses arising out of or incurred in connection with connexxxxx xith Bear XxxxxxxStearns' agreement to settle such trades. (d) d. You shall maintain sxxxx xxintain in your account with Bear Xxxxxxx Stearns such minimum net equity in cash or securities as Bear XxxxxxxBxxx Xxxarns, in its sole discretion discretion, may require, from time to time [xxxx (the "Bear Xxxxxxx Stearns Net Equity Requirements"]), which shall in no event be less xx xxxs than the minimum net equity required by the SEC Letter Letter, as defined in subparagraph (g) of this Paragraph (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx Stearns to notify promptly all executing brokers with whom it has xx xxx a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shall: Stearns shall (i) notify all such executing brokers that Bear Xxxxxxx Bxxx Xxxarns is no longer acting as your prime broker and (ii) either not affirm or "OK" ("indicate that it does not know ("DKknow") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: either (i) your account falls below the Bear Xxxxxxx Stearns Net Equity Requirements, (ii) Bear Xxxxxxx determines that Stearns determixxx xxxt there would not be enough cash in your account xxxx xxcount to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx Stearns determines that the continuation of prime brokerage services brokeragx xxxxxces to you presents an unacceptable risk to Bear Xxxxxxx Stearns taking into consideration all the facts and circumstances circumxxxxxxx, Bear Xxxxxxx Stearns may disaffirm all your prime brokerage transactions and/or transactionx xxx/xr cease to act as your prime broker. (e) e. If you have instructed your executing broker(s) to send confirmations to your you in care of Bear XxxxxxxStearns, as your prime broker, the confirmation sent by such executing suxx xxxxuting broker is available to you promptly from Bear XxxxxxxStearns, at no additional charge. (f) f. If your account is managed accouxx xx xanaged on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear XxxxxxxStearns. You hereby authorize Bear Xxxxxxx Stearns to disclose your namexxxx, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker for settlement by us based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmationyou or your agent. (b) Bear Xxxxxxx shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by you and your executing broker(s) provided that you have reported to Bear Xxxxxxx on trade date, by the time designated to you by Bear Xxxxxxx, all the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided that Bear Xxxxxxx has either affirmed or not DK'd ("indicated that it does not know") and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines not to settle a trade, Bear Xxxxxxx shall not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that notification sent to you under sub- sub-paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition Bear Xxxxxxx may be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear Xxxxxxx, for any losses arising out of or incurred in connection with Bear Xxxxxxx' agreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such minimum net equity in cash or securities as Bear Xxxxxxx, in its sole discretion may require, from time to time [the "Bear Xxxxxxx Net Equity Requirements"], which shall in no event be less than the minimum net equity required by the SEC Letter Letter, as defined in sub-paragraph (g) of this paragraph (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shall: (i) notify all such executing brokers that Bear Xxxxxxx is no longer acting as your prime broker and (ii) either not affirm or DK ("indicate that it does not know ("DKknow") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Equity Requirements, (ii) Bear Xxxxxxx determines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your you in care of Bear Xxxxxxx, as your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear Xxxxxxx, at no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear Xxxxxxx. You hereby authorize Bear Xxxxxxx to disclose your name, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx Stearns will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx Stearns (the "Prime Brokerage Agreement"). Bear Xxxxxxx Bexx Xxxxrns will accept for clearance and settlement trades settlemexx xxxxes executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx Stearns will send you a notification of each trade placed txxxx xxaced with your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation. (b) Bear Xxxxxxx Stearns shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx Stearns by you and your executing broker(s) provided that you yxx have reported to Bear Xxxxxxx Stearns on trade date, by the time designated to you xx xxx by Bear XxxxxxxStearns, all the details of such trades includingincludxxx, but xxt not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of a purchase, and further provided that Bear Xxxxxxx Stearns has either affirmed or not DK'd and has not subsequently hax xxx xubsequently disaffirmed such trades. In the event that Bear Xxxxxxx Stearns determines not to settle a trade, Bear Xxxxxxx Xxxxxxs shall not have settlement responsibility for xxx such trade and shall, instead, send you a cancellation notification to offset that notification sent to you under sub- paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition Bear Xxxxxxx Stearns may be required to cease providing prime brokerage prixx xxxxerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx Stearns agrees to settle any trades executed on your ox xxxx behalf by such executing broker, regardless whether Bear Xxxxxxx Stearns either affirmed or did not DK and did not disaffirm xxx xxxaffirm such trades, you shall be solely responsible, and liable to Bear XxxxxxxStearns, for any losses arising out of or incurred in incuxxxx xx connection with Bear XxxxxxxStearns' agreement to settle such trades. (d) You shall xxxxx maintain in your account with Bear Xxxxxxx Stearns such minimum net equity in cash or securities secxxxxxxx as Bear XxxxxxxStearns, in its sole discretion may require, from time fxxx xxxe to time [the "Bear Xxxxxxx Stearns Net Equity Requirements"], which shall in no event be xx less than the minimum net equity required by the SEC Letter (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx Stearns to notify promptly all executing brokers with brokexx xxxx whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx Stearns shall: (i) notify all such executing brokers that Bear Xxxxxxx Stearns is no longer acting as your prime broker and (ii) either not affirm or indicate that it does not know ("DK") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Stearns Net Equity Requirements, (ii) Bear Xxxxxxx determines Stearns determinxx that there would not be enough cash enoxxx xxxh in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx Stearns determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx Stearns taking into consideration all the facts and circumstances factx xxx xircumstances Bear Xxxxxxx Stearns may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your in care of Bear XxxxxxxStearns, as your prime broker, the confirmation sent confirmatiox xxxx by such executing broker is available to you promptly from Bear XxxxxxxStearns, at no additional charge. (f) If your Xx xxur account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear XxxxxxxStearns. You hereby authorize Bear Xxxxxxx Stearns to disclose xxxxxxse your name, address and tax I.X.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation. (b) Bear Xxxxxxx shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by you and your executing broker(s) provided provide that you have reported to Bear Xxxxxxx on trade date, by the time designated to you by Bear Xxxxxxx, all the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided that Bear Xxxxxxx has either affirmed or not DK'd and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines not to settle a trade, Bear Xxxxxxx shall not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- sub-paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such tradetrades. In addition addition, Bear Xxxxxxx may be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of of: (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear Xxxxxxx, for any losses arising out of or incurred in connection with Bear Xxxxxxx' agreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such minimum net equity in cash or securities as Bear Xxxxxxx, in its sole discretion discretion, may require, from time to time [(the "Bear Xxxxxxx Net Equity Requirements"]), which shall in no event be less than that the minimum net equity required by the SEC Letter (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to notify promptly all executing brokers with whom it is has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your you account to compliance with the SEC Net Equity Requirements within with the time specified in the SEC Letter, Bear Xxxxxxx shall: (i) notify all such executing brokers that Bear Xxxxxxx is no longer acting as your prime broker and (ii) either not affirm or of indicate that it does not know ("DK") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Equity Requirements, (ii) Bear Xxxxxxx determines that there would not be enough cash in your our account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your you in care of Bear Xxxxxxx, as your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear Xxxxxxx, at no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear Xxxxxxx. You hereby authorize Bear Xxxxxxx to disclose your name, address and tax I.

Prime Brokerage Services. (a) a. Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each such transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker for settlement by us based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmationyou or your agent. (b) b. Bear Xxxxxxx shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by you and your executing broker(s) ), provided that you have reported to Bear Xxxxxxx on trade date, by the time designated to you by Bear Xxxxxxx, all the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided provided, that Bear Xxxxxxx has either affirmed or not DK'd "OK'd" ("indicated it does not know") and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines not to settle a trade, Bear Xxxxxxx shall not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- paragraph a subparagraph (a) of this paragraphParagraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition addition, Bear Xxxxxxx may be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) c. In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either affirmed or did not DK OK and did not disaffirm such trades, you shall be solely responsible, responsible and liable to Bear Xxxxxxx, Xxxxxxx for any losses arising out of or incurred in connection with Bear Xxxxxxx' agreement to settle such trades. (d) d. You shall maintain in your account with Bear Xxxxxxx such minimum net equity in cash or securities as Bear Xxxxxxx, in its sole discretion discretion, may require, from time to time [(the "Bear Xxxxxxx Net Equity Requirements"]), which shall in no event be less than the minimum net equity required by the SEC Letter Letter, as defined in subparagraph (g) of this Paragraph (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shall: shall (i) notify all such executing brokers that Bear Xxxxxxx is no longer acting as your prime broker and (ii) either not affirm or "OK" ("indicate that it does not know ("DKknow") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: either (i) your account falls below the Bear Xxxxxxx Net Equity Requirements, (ii) Bear Xxxxxxx determines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) e. If you have instructed your executing broker(s) to send confirmations to your you in care of Bear Xxxxxxx, as your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear Xxxxxxx, at no additional charge. (f) f. If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear Xxxxxxx. You hereby authorize Bear Xxxxxxx to disclose your name, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx will send you a notification of each trade placed with your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation. (b) Bear Xxxxxxx shall be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by you and your executing broker(s) provided that you have reported to Bear Xxxxxxx on trade date, by the time designated to you by Bear Xxxxxxx, all the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided that Bear Xxxxxxx has either affirmed or not DK'd and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines not to settle a trade, Bear Xxxxxxx shall not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- sub-paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such tradetrades. In addition addition, Bear Xxxxxxx may be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of of: (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-broker- dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever whatsover or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear Xxxxxxx, for any losses arising out of or incurred in connection with Bear Xxxxxxx' agreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such minimum net equity in cash or securities as Bear Xxxxxxx, in its sole discretion may require, from time to time [(the "Bear Xxxxxxx Net Equity Requirements"]), which shall in no event be less than that the minimum net equity required by the SEC Letter (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shall: (i) notify all such executing brokers that Bear Xxxxxxx is no longer acting as your prime broker and (ii) either not affirm or indicate that it does not know ("DK") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Equity Requirements, (ii) Bear Xxxxxxx determines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your you in care of Bear Xxxxxxx, as your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear Xxxxxxx, at no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear Xxxxxxx. You hereby authorize Bear Xxxxxxx to disclose your name, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will Steaxxx xxxl enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx Steaxxx (the xxe "Prime Brokerage Agreement"). Bear Xxxxxxx will Steaxxx xxxl accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each such transaction, Bear Xxxxxxx will Steaxxx xxxl send you a notification of each trade placed with your executing broker for settlement by us based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmationyou or your agent. (b) Bear Xxxxxxx shall Steaxxx xxxll be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by Steaxxx xx you and your executing broker(s) provided that you have reported to Bear Xxxxxxx on Steaxxx xx trade date, by the time designated to you by Bear XxxxxxxSteaxxx, all xxl the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided that Bear Xxxxxxx has Steaxxx xxx either affirmed or not DK'd "DK'd" ("Indicated it does not know") and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines Steaxxx xxxermines not to settle a trade, Bear Xxxxxxx shall Steaxxx xxxll not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- paragraph subparagraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition addition, Bear Xxxxxxx may Steaxxx xxx be required to 4 cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of of: (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees Steaxxx xxxees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either Steaxxx xxxher affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear XxxxxxxSteaxxx, for xxr any losses arising out of or incurred in connection with Bear XxxxxxxSteaxxx' agreement xxreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such Steaxxx xxxh minimum net equity in cash or securities as Bear XxxxxxxSteaxxx, in xx its sole discretion may require, from time to time [(the "Bear Xxxxxxx Net Steaxxx Xxx Equity Requirements"]), which shall in no event be less than the minimum net equity required by the SEC Letter Letter, as defined in sub-paragraph (g) of this paragraph (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to Steaxxx xx notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shallSteaxxx xxxll: (i) notify all such executing brokers that Bear Xxxxxxx is Steaxxx xx no longer acting as your prime broker and (ii) either not affirm or "DK" ("indicate that it does not know ("DKknow") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Steaxxx Xxx Equity Requirements, (ii) Bear Xxxxxxx determines Steaxxx xxxermines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines Steaxxx xxxermines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking Steaxxx xxxing into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may Steaxxx xxx disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your you in care of Bear XxxxxxxSteaxxx, as xx your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear XxxxxxxSteaxxx, at xx no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear XxxxxxxSteaxxx. You Xxu hereby authorize Bear Xxxxxxx to Steaxxx xx disclose your name, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx will Steaxxx xxxl enter into an agreement with your executing broker(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx Steaxxx (the xxe "Prime Brokerage Agreement"). Bear Xxxxxxx will Steaxxx xxxl accept for clearance and settlement trades executed on your behalf by such executing broker(s) as you may designate from time to time. On the day following each such transaction, Bear Xxxxxxx will Steaxxx xxxl send you a notification of each trade placed with your executing broker for settlement by us based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmationyou or your agent. (b) Bear Xxxxxxx shall Steaxxx xxxll be responsible for settling trades executed on your behalf by your executing broker(s) and reported to Bear Xxxxxxx by Steaxxx xx you and your executing broker(s) provided that you have reported to Bear Xxxxxxx on Steaxxx xx trade date, by the time designated to you by Bear XxxxxxxSteaxxx, all xxl the details of such trades including, but not limited to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of or a purchase, and further provided that Bear Xxxxxxx has Steaxxx xxx either affirmed or not DK'd "DK'd" ("indicated it does not know") and has not subsequently disaffirmed such trades. In the event that Bear Xxxxxxx determines Steaxxx xxxermines not to settle a trade, Bear Xxxxxxx shall Steaxxx xxxll not have settlement responsibility for such trade and shall, instead, send you a cancellation notification to offset that the notification sent to you under sub- sub-paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition addition, Bear Xxxxxxx may Steaxxx xxx be required to cease providing prime brokerage services to you in accordance with the Prime Brokerage Agreement. (c) In the event of of: (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure failure, inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx agrees Steaxxx xxxees to settle any trades executed on your behalf by such executing broker, regardless whether Bear Xxxxxxx either Steaxxx xxxher affirmed or did not DK and did not disaffirm such trades, you shall be solely responsible, and liable to Bear XxxxxxxSteaxxx, for xxr any losses arising out of or incurred in connection with Bear XxxxxxxSteaxxx' agreement xxreement to settle such trades. (d) You shall maintain in your account with Bear Xxxxxxx such Steaxxx xxxh minimum net equity in cash or securities as Bear XxxxxxxSteaxxx, in xx its sole discretion may require, from time to time [(the "Bear Xxxxxxx Net Steaxxx Xxx Equity Requirements"]), which shall in no event be less than the minimum net equity required by the SEC Letter Letter, as defined in sub-paragraph (g) of this paragraph (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx to Steaxxx xx notify promptly all executing brokers with whom it has a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx shallSteaxxx xxxll: (i) notify all such executing brokers that Bear Xxxxxxx is Steaxxx xx no longer acting as your prime broker and (ii) either not affirm or "DK" ("indicate that it does not know ("DKknow") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Net Steaxxx Xxx Equity Requirements, (ii) Bear Xxxxxxx determines Steaxxx xxxermines that there would not be enough cash in your account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx determines Steaxxx xxxermines that the continuation of prime brokerage services to you presents an unacceptable risk to Bear Xxxxxxx taking Steaxxx xxxing into consideration all the facts and circumstances circumstances, Bear Xxxxxxx may Steaxxx xxx disaffirm all your prime brokerage transactions and/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your you in care of Bear XxxxxxxSteaxxx, as xx your prime broker, the confirmation sent by such executing broker is available to you promptly from Bear XxxxxxxSteaxxx, at xx no additional charge. (f) If your account is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear XxxxxxxSteaxxx. You hereby Xxu herby authorize Bear Xxxxxxx to Steaxxx xx disclose your name, address and tax I.

Prime Brokerage Services. (a) Prior to the commencement of any prime brokerage activity, Bear Xxxxxxx Stearns will enter into an agreement with your executing broker(sxxxxxx(s) that will set forth the terms and conditions under which your executing broker(s) will be authorized to accept orders from you for settlement by Bear Xxxxxxx Stearns (the "Prime Brokerage Agreement"). Bear Xxxxxxx will accept Stearns xxxx xccept for clearance and settlement trades executed xxxxxxxd on your behalf by such executing broker(s) as you may designate from time to time. On the day following each transaction, Bear Xxxxxxx Stearns will send you a notification of each trade placed with placex xxxx your executing broker based upon the information provided by you. This notification contains some but not all of the information required to appear in a confirmation. (b) Bear Xxxxxxx Stearns shall be responsible for settling trades executed on your xx xxur behalf by your executing broker(s) and reported to Bear Xxxxxxx Stearns by you and your executing broker(s) provided that you have xave reported to Bear Xxxxxxx Stearns on trade date, by the time designated to you by Bear XxxxxxxXxxx Xxearns, all the details of such trades including, but not limited nxx xxxxted to, the contract amount, the security involved, the number of shares or the number of units and whether the transaction was a long or short sale of a purchase, and further provided that Bear Xxxxxxx Stearns has either affirmed or not DK'd and has not subsequently subsxxxxxxxy disaffirmed such trades. In the event that Bear Xxxxxxx Stearns determines not to settle a trade, Bear Xxxxxxx shall not Stearns sxxxx xxt have settlement responsibility for such trade sucx xxxxx and shall, instead, send you a cancellation notification to offset that notification sent to you under sub- paragraph a of this paragraph. You shall be solely responsible and liable to your executing broker(s) for settling such trade. In addition Bear Xxxxxxx Stearns may be required to cease providing prime brokerage services brokeraxx xxxxices to you in accordance with the Prime Brokerage Agreement. (c) In the event of (i) the filing of a petition or other proceeding in bankruptcy, insolvency or for the appointment of a receiver by or against your executing broker, (ii) the termination of your executing broker's registration and the cessation of business by it as a broker-dealer, or (iii) your executing broker's failure inability or refusal, for any reason whatsoever or for no reason at all, to settle a trade, if Bear Xxxxxxx Stearns agrees to settle any trades executed on your behalf by behxxx xx such executing broker, regardless whether Bear Xxxxxxx Stearns either affirmed or did not DK and did not disaffirm such disaffxxx xxxh trades, you shall be solely responsible, and liable to Bear XxxxxxxStearns, for any losses arising out of or incurred in connection coxxxxxxxn with Bear XxxxxxxStearns' agreement to settle such trades. (d) You shall maintain in maixxxxx xn your account with Bear Xxxxxxx Stearns such minimum net equity in cash or securities as Bear XxxxxxxXxxx Xtearns, in its sole discretion may require, from time to time tx xxxx [the "Bear Xxxxxxx Stearns Net Equity Requirements"], which shall in no event be less xess than the minimum net equity required by the SEC Letter (the "SEC Net Equity Requirements"). In the event your account falls below the SEC Net Equity Requirements, you hereby authorize Bear Xxxxxxx Stearns to notify promptly all executing brokers with whom it has whxx xx xas a Prime Brokerage Agreement on your behalf of such event. Moreover, if you fail to restore your account to compliance with the SEC Net Equity Requirements within the time specified in the SEC Letter, Bear Xxxxxxx Stearns shall: (i) notify all such executing brokers that Bear Xxxxxxx Xxxx Stearns is no longer acting as your prime broker and (ii) either xxxxxr not affirm or indicate that it does not know ("DK") all prime brokerage transactions on your behalf with trade date after the business day on which such notification was sent. In the event either: (i) your account falls below the Bear Xxxxxxx Stearns Net Equity Requirements, (ii) Bear Xxxxxxx Stearns determines that xhat there would not be enough cash in your ix xxxx account to settle such transactions or that a maintenance margin call may be required as a result of settling such transactions, or (iii) Bear Xxxxxxx Stearns determines that the continuation of prime brokerage services xxxvices to you presents an unacceptable risk to Bear Xxxxxxx Stearns taking into consideration all the facts and circumstances circxxxxxxxes Bear Xxxxxxx Stearns may disaffirm all your prime brokerage transactions and/or xxx/or cease to act as your prime broker. (e) If you have instructed your executing broker(s) to send confirmations to your in care of Bear XxxxxxxStearns, as your prime broker, the confirmation sent by such executing xxxx xxecuting broker is available to you promptly from Bear XxxxxxxStearns, at no additional charge. (f) If your account xxxxxxx is managed on a discretionary basis, you hereby acknowledge that your prime brokerage transactions may be aggregated with those of other accounts of your advisor, according to your advisor's instructions, for execution by your executing broker(s) in a single bulk trade and for settlement in bulk by Bear XxxxxxxStearns. You hereby authorize Bear Xxxxxxx Stearns to disclose your namexxxx xxme, address and tax I.