Common use of Segregation/Safekeeping Services Clause in Contracts

Segregation/Safekeeping Services. 4.4 The T2CB shall hold securities and/or cash of Clients and of the T2IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB held by the T2CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB or the T2CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB or to the T2CB. Notwithstanding any other term of this Agreement, the T2CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB in order to settle any indebtedness or accounts owing to the T2CB from the T2IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB T3CB shall hold securities and/or cash of Clients and of the T2IB T3IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T3CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT3IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T3IB held by the T2CB T3CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T3IB or the T2CBT3CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T3IB or to the T2CBT3CB. Notwithstanding any other term of this Agreement, the T2CB T3CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T3IB in order to settle any indebtedness or accounts owing to the T2CB T3CB from the T2IB T3IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB T4CB shall hold securities and/or cash of Clients and of the T2IB T4IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T4CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT4IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T4IB held by the T2CB T4CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T4IB or the T2CBT4CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T4IB or to the T2CBT4CB. Notwithstanding any other term of this Agreement, the T2CB T4CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T4IB in order to settle any indebtedness or accounts owing to the T2CB T4CB from the T2IB T4IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB T1CB shall hold securities and/or cash of Clients and of the T2IB T1IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T1CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT1IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T1IB held by the T2CB T1CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T1IB or the T2CBT1CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T1IB or to the T2CBT1CB. Notwithstanding any other term of this Agreement, the T2CB T1CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T1IB in order to settle any indebtedness or accounts owing to the T2CB T1CB from the T2IB T1IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The 4.4The T2CB shall hold securities and/or cash of Clients and of the T2IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB held by the T2CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB or the T2CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB or to the T2CB. Notwithstanding any other term of this Agreement, the T2CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB in order to settle any indebtedness or accounts owing to the T2CB from the T2IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB 4.4The T4CB shall hold securities and/or cash of Clients and of the T2IB T4IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T4CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT4IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T4IB held by the T2CB T4CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T4IB or the T2CBT4CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T4IB or to the T2CBT4CB. Notwithstanding any other term of this Agreement, the T2CB T4CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T4IB in order to settle any indebtedness or accounts owing to the T2CB T4CB from the T2IB T4IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB 4.4The T1CB shall hold securities and/or cash of Clients and of the T2IB T1IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T1CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT1IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T1IB held by the T2CB T1CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T1IB or the T2CBT1CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T1IB or to the T2CBT1CB. Notwithstanding any other term of this Agreement, the T2CB T1CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T1IB in order to settle any indebtedness or accounts owing to the T2CB T1CB from the T2IB T1IB arising under this Agreement.

Segregation/Safekeeping Services. 4.4 The T2CB 4.4The T3CB shall hold securities and/or cash of Clients and of the T2IB T3IB in segregation or safekeeping, as the case may be, as and when required by applicable law or SRO Requirements, and the parties hereto acknowledge that the T2CB T3CB can make use of such securities and/or cash in the same manner as it is permitted to use the securities and/or cash of clients not introduced to it by the T2IBT3IB. In particular, and without limiting the generality of the foregoing, no securities, cash, credit balances or other property in the account of a Client of the T2IB T3IB held by the T2CB T3CB shall be used or applied in any way to secure or satisfy the indebtedness of either (a) another Client, or (b) the T2IB T3IB or the T2CBT3CB, except to the extent that such Client has guaranteed the payment of the indebtedness of such other Client or the Client is otherwise indebted to the T2IB T3IB or to the T2CBT3CB. Notwithstanding any other term of this Agreement, the T2CB T3CB shall not have recourse to any securities, cash or other property required to be held in segregation or safekeeping for Clients introduced by the T2IB T3IB in order to settle any indebtedness or accounts owing to the T2CB T3CB from the T2IB T3IB arising under this Agreement.