PROCEDURES FOR INTRODUCED ACCOUNTS Clause Samples

PROCEDURES FOR INTRODUCED ACCOUNTS. A. At the time of the opening of each Introduced Account, the Introducing Broker shall supply to the Clearing Broker a new account form on such forms as the Clearing Broker will supply to the Introducing Broker (unless otherwise mutually agreed by the parties) and shall supply any other additional or supplementary documentation or information that the Clearing Broker may in its sole discretion request the Introducing Broker to obtain from the Customer, including, but not limited to, a cash account agreement on a form approved by the Clearing Broker ("Cash Account Agreement"), and all other documents that the Clearing Broker initially supplied to the Customer. If applicable, the Introducing Broker shall furnish the Clearing Broker with appropriate Alert and/or SID references for the Customer and the Clearing Broker will update such information when updates are received from Alert and/or SID. At the time of the opening of Introduced Accounts that are margin accounts, the Introducing Broker shall furnish the Clearing Broker with executed customer agreements, hypothecation and rehypothecation agreements, and consents to loans of securities on forms to be provided by the clearing broker (collectively, the "Margin Agreement"). If any Introduced Account has been opened without the Clearing Broker having previously received the foregoing information or documents, failure of the Clearing Broker to receive such information or documents shall not be deemed to be a waiver of the information or documentation requirements set forth herein. With respect to each Introduced Account that is a proprietary account, an executed Margin Agreement shall be furnished to the Clearing Broker. In addition, the terms of such Cash Account Agreement or Margin Agreement, as amended from time to time, are incorporated by reference herein. Upon the request of the Clearing Broker, the Introducing Broker shall furnish the Clearing Broker with any other additional or supplementary documents and agreements executed by the Introduced Account on forms supplied by the Clearing Broker that the Clearing Broker may require in connection with the opening, operating or maintaining of Introduced Accounts. The Clearing Broker may, at its option, mail Cash Account Agreements, Margin Agreements or other documentation directly to the Introduced Accounts upon notification by the Introducing Broker. The Introducing Broker shall promptly provide the Clearing Broker with basic data and copies of documents rela...