Role of Account Manager. If an Account Manager is authorized to exercise discretion and to act on Your behalf with respect to Your Account:
(a) Account Manager makes the representations set forth in Section 1 of this Agreement as if the term Account Manager were substituted for the term You or Your therein;
(b) Account Manager shall direct You to take such action in respect of Your Account as is required of You under this Agreement or under applicable law; and
(c) You agree that Account Manager is authorized to act on Your behalf with respect to the Account, including to receive and give communications, instructions and authorizations, and You hereby confirm, ratify and assume liability for any transactions that result from such communications, instructions, and authorizations.
Role of Account Manager. (a) Customer may authorize a third party or entity (the “Account Manager”) to manage the Account. Where Customer retains an Account Manager, Customer agrees that Account Manager is authorized to act on Customer’s behalf with respect to the Account, including to receive and give communications, instructions and authorizations, and Customer hereby confirms, ratifies, and assumes liability for any transactions that result from such communications, instructions, and authorizations. Customer will provide CGM with the management agreement between the Customer and Account Manager as evidence of this authority.
(b) When an Account Manager has discretion over the Account, Customer authorizes the Account Manager holding that discretion to enter into all arrangements that are necessary or appropriate in the sole judgment of the Account Manager to carry out Customer’s obligations under the Agreement or under the trading authorization granted by Customer to Account Manager. This shall include, without limitation, the selection of executing brokers to execute transactions for Customer’s Account, negotiation of agreements with or including such executing brokers (including without limitation Uniform International Brokerage Execution (“Give-Up”) Agreements), and negotiating and agreeing to additional charges or fees in amounts up to but not in excess of $2.00 per side. Such additional charges or fees may take the form of excess floor brokerage, administrative or intermediary FCM transfer fees.
(c) When an Account Manager has discretion over the Account, Customer authorizes CGM to remit periodically from the Account such sums representing the bills of the Account Manager or any executing broker or floor broker (including any fees attendant to the execution of Contracts by such brokers) the Account Manager has selected upon presentation of said xxxx to CGM. Customer understands and agrees that: (i) CGM shall have no obligation to determine the accuracy of any such bills presented, and Customer agrees to indemnify and hold harmless CGM from any claims in the event that such bills are not correct; (ii) Customer, Account Manager, and any executing broker are solely responsible for computing fees for the Account Manager’s services and the services of the executing broker and that CGM may rely upon such computation submitted to it by Account Manager or any executing broker; (iii) any disbursement pursuant to Customer’s authorization will be reflected on Customer’s monthly statem...
Role of Account Manager. Xxxxxx Capital Management Limited is the Account Manager and is authorized to exercise discretion and to act on behalf of Customer with respect to the Account:
(a) Account Manager makes the representations set forth in Section 1 of this Agreement as if the term Account Manager were substituted for the term Customer therein;
(b) Account Manager shall direct Customer to take such action in respect of the Account as is required of Customer under this Agreement or under Applicable Law; and
(c) Customer agrees that Account Manager is authorized to act on Customer’s behalf with respect to the Account, including to receive and give communications, instructions and authorizations, and Customer hereby confirms, ratifies, and assumes liability for any transactions that result from such communications, instructions, and authorizations. Customer will provide CGM with the management agreement between the Customer and Account Manager as evidence of this authority.
Role of Account Manager is the Account Manager and is authorized to exercise discretion and to act on behalf of Customer with respect to the Account:
(a) Account Manager makes the representations set forth in Section 1 of this Agreement as if the term Account Manager were substituted for the term Customer therein;
(b) Customer agrees that Account Manager is authorized to act on Customer’s behalf with respect to the Account, including to receive and give communications, instructions and authorizations, and Customer hereby confirms, ratifies, and assumes liability for any transactions that result from such communications, instructions, and authorizations. Customer will provide CGM with the management agreement between the Customer and Account Manager as evidence of this authority.
