Common use of RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES Clause in Contracts

RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. Apex, acting on behalf of Correspondent, will receive and deliver all funds and securities in connection with transactions for Accounts in accordance with the instructions of Correspondent. Correspondent shall be responsible for its obligations to deliver funds or securities in connection with each such transaction. Correspondent shall be responsible for any failure to fulfill such obligation. Apex shall be responsible for the safeguarding of all funds and securities delivered to and accepted by it, subject to count and verification by Apex. However, Apex will not be responsible for any funds or securities delivered by Correspondent, its agents or employees, until such funds or securities are physically delivered to Apex’s premises and accepted by Apex or deposited in bank accounts maintained in Apex’s name. It is expressly understood and agreed, however, that, except as otherwise expressly provided in this Agreement, Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311 et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11, as amended, et seq.).

RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. Apex, acting on behalf of of. Correspondent, . will receive and deliver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer’s instructions of to Correspondent. Correspondent shall be responsible for its advising Customers of their obligations to deliver funds or securities in connection with each such transaction. Correspondent shall be responsible for any failure of any Customer to fulfill such obligation. Apex shall be responsible for the safeguarding of all funds and securities delivered to and accepted by it, subject to count and verification by Apex. However, Apex will not be responsible for any funds or securities delivered by a Customer or Correspondent, its agents or employees, . until such funds or securities are physically delivered to Apex’s premises and accepted by Apex or deposited in bank accounts maintained in Apex’s Apex·s name. It is expressly understood and agreed, however, that, except as otherwise expressly provided in this Agreement, Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Repo1ting Act (31 U.S.C. Section 5311 et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11, 103. 11. as amended, et seq.).

RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. ApexPenson, acting on behalf of Correspondent, will receive and deliver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer's instructions of to Correspondent. Correspondent shall be responsible for its advising Customers of their obligations to deliver funds or securities in connection with each such transaction. Correspondent shall be responsible for any failure of any Customer to fulfill such obligation. Apex Penson shall be responsible for the safeguarding of safeguardxxx xf all funds and securities delivered to and accepted by it, subject to count and verification by ApexPenson. However, Apex Penson will not be responsible for responsixxx xor any funds or fundx xx securities delivered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Apex’s Penson's premises and accepted by Apex Penson or deposited in depoxxxxx xx bank accounts maintained in Apex’s xx Xxnson's name. It is expressly understood and agreedxxxxxx, however, that, except as otherwise expressly provided in this Agreement, that Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311 et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. C.F.R Section 103.11, as amended, et seq.).

RECEIPT, DELIVERY AND SAFEGUARDING OF FUNDS AND SECURITIES. (a) Receipt and Delivery in the Ordinary Course of Business. ApexXxxxxx, acting on behalf of Correspondent, will receive and deliver all funds and securities in connection with transactions for Customer Accounts in accordance with the Customer's instructions of to Correspondent. Correspondent shall be responsible for its advising Customers of their obligations to deliver funds or securities in connection with each such transaction. Correspondent shall be responsible for any failure of any Customer to fulfill such obligation. Apex Xxxxxx shall be responsible for the safeguarding safeguarding, of all funds and securities delivered to and accepted by it, subject to count and verification by ApexXxxxxx. However, Apex Xxxxxx will not be responsible for any funds or securities delivered by a Customer or Correspondent, its agents or employees, until such funds or securities are physically delivered to Apex’s Xxxxxx'x premises and accepted by Apex Xxxxxx or deposited in bank accounts maintained in Apex’s Xxxxxx'x name. It is expressly understood and agreed, however, that, except as otherwise expressly provided in this Agreement, that Correspondent is responsible for compliance with the Currency and Foreign Transactions Reporting Act (31 U.S.C. Section 5311 5311. et seq.) and the rules and regulations promulgated thereunder (31 C.F.R. Section 103.11103 ).11, as amended, et seq.).