Proprietary Accounts. As of the date hereof, Schedule 6.20 contains a list of all of the Proprietary Accounts of Borrower and its Subsidiaries. The most recently delivered No Default Certificate, commencing with the No Default Certificate delivered for the fiscal quarter ending March 31, 2018, contains a list of all of the Proprietary Accounts of Borrower and its Subsidiaries as of the date of such No Default Certificate, and, as of the date of a No Default Certificate, neither Borrower nor any Subsidiary maintains any Proprietary Account which is not listed on such No Default Certificate.
Proprietary Accounts. CLAY may request that FSWC maintain one or more Accounts on its books to reflect the proprietary securities and/or cash positions of CLAY (a "Proprietary Account”). FSWC may, in its sole discretion, agree or refuse to maintain any such Proprietary Account. If FSWC agrees to maintain one or more Proprietary Accounts, all of the other terms and conditions of this Agreement shall apply, and each such Proprietary Account shall be deemed an "Account" hereunder, except to the extent that this Agreement provides for differing treatment of Accounts and Proprietary Accounts.
Proprietary Accounts. To facilitate compliance with reserve bank account requirements Correspondent undertakes to promptly identify all proprietary accounts of Correspondent and designate those that are PAB accounts for the purposes of SEC Rule 15c3-3. Additionally, Correspondent agrees to promptly identify all proprietary accounts of any broker or dealer customers of Correspondent that such customers require to be designated as PAB accounts for the purposes of SEC Rule 15c3-3 (such proprietary accounts of Correspondent and its customers “PAB Accounts”). Correspondent represents, warrants and covenants that (1) all cash, securities or other assets in any Correspondent PAB Account shall consist solely of proprietary assets of Correspondent and Correspondent shall at no time permit any customer funds, securities or other assets to be deposited, allocated or transferred to its PAB Account and (2) all cash, securities or other assets in any customer’s PAB Account shall consist solely of proprietary assets of such customer and any such customer shall at no time permit any non-proprietary funds. securities or other assets to be deposited, allocated or transferred to such customer PAB Account. Correspondent acknowledges and agrees that in calculating PAB account reserve requirements pursuant to SEC Rule 15c3-3. Apex may exercise its sole and absolute discretion relative thereto. Correspondent acknowledges that it has been notified and agrees that in the event that Apex permits any deposit required pursuant to Section 9 of this Agreement, or any other security deposit of Correspondent, to be placed in a Correspondent’s PAB Account, such deposit amount may be used by Apex in the ordinary course of its securities business. If Correspondent objects to such use it shall so notify Apex in writing and shall take appropriate steps to prevent such deposit amounts from being deposited in a PAB Account.
Proprietary Accounts. All the Proprietary Accounts of Borrower and its Subsidiaries are listed on Schedule 1.1, and neither Borrower nor any Subsidiary maintains any Proprietary Account which is not listed on Schedule 1.1; provided that no Proprietary Account opened after the date hereof shall be deemed to be included in the representation and warranty set forth in this Section 6.20 until ten (10) Business Days (or such later date as Agent may agree) after the opening of such Proprietary Account.
Proprietary Accounts. Broker may request that BNYCS maintain one or more Accounts on its books to reflect the proprietary securities and/or cash positions of Broker (a "Proprietary Account"). BNYCS may, in its sole discretion, agree or refuse to agree to maintain any such Proprietary Account. If BNYCS agrees to maintain one or more Proprietary Accounts, all of the other terms and conditions of this Agreement shall apply, and each such Proprietary Account shall be deemed an "Account" hereunder, except to the extent that this Agreement provides for differing treatment of Customer Accounts and Proprietary Accounts.
Proprietary Accounts. Broker may request that ConvergEx execute, clear and/or settle transactions for one or more proprietary Accounts of Broker (a “Proprietary Account”). ConvergEx may, in its sole discretion, agree or refuse any such Proprietary Account transaction. Each such Proprietary Account shall be deemed an “Account” hereunder and all of the other terms and conditions of this Agreement shall apply, except to the extent that this Agreement provides for differing treatment of Customer Accounts and Proprietary Accounts.
Proprietary Accounts. The most recently delivered No Default Certificate, commencing with the No Default Certificate delivered for the fiscal quarter ending March 31, 2015, contains a list of all of the Proprietary Accounts of Borrower and its Subsidiaries as of the date of such No Default Certificate, and, as of the date of a No Default Certificate, neither Borrower nor any Subsidiary maintains any Proprietary Account which is not listed on such No Default Certificate.
Section 3.5. Addition of Section 6.21. Effective as of the date hereof, Section 6.21 shall be added to the Agreement and shall read in its entirety as follows:
Proprietary Accounts. XXXX xxx request that FSWC maintain one or more Accounts on its books to reflect the proprietary securities and/or cash positions of ALEX (a "Proprietary Account"). FSWC may, in its sole discretion, agree or refuse to maintain any such Proprietary Account. If FSWC agrees to maintain one or more Proprietary Accounts, all of the other terms and conditions of this Agreement shall apply, and each such Proprietary Account shall be deemed an "Account" hereunder, except to the extent that this Agreement provides for differing treatment of Accounts and Proprietary Accounts.
