Common use of Set Up Accounts Clause in Contracts

Set Up Accounts. (a) Bank will establish and maintain the following accounts (“Accounts”): (i) a Securities Account in the name of Customer for Financial Assets, which may be received by or on behalf of Bank for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer (“Cash Account”) for any and all cash received by or on behalf of Bank for the account of Customer. (b) At the request of Customer, additional Accounts may be opened in the future, which will be subject to the terms of this Agreement. (c) Financial Assets credited to the Securities Account shall be withdrawable or transferable upon Customer’s Instructions subject to the further terms and conditions of this Agreement.