Common use of Security for Indebtedness Clause in Contracts

Security for Indebtedness. You hereby grant the Firm a continuing security interest in, right of set-off to and general lien on all securities, cash, investment property, and other property in your Account (“Collateral”). Subject to Applicable Rules, and without prior notice to you, the Firm may sell or transfer the Collateral to satisfy the discharge of your indebtedness and other obligations. The Firm also has the discretion to determine which securities and other properties are to be sold and which contracts are to be closed.