Common use of Short and Long Sales Clause in Contracts

Short and Long Sales. It is understood and agreed that the undersigned, when placing with you any sell order for a short account, will designate it as such and hereby authorizes you to xxxx such order as being 'short,' and when placing with you any sell order for a long account, will designate it as such and hereby authorizes you to xxxx such order as being 'long.' Any sell order which the undersigned shall designate as being for a long account, as above provided, is for securities then owned by the undersigned and, if such securities are not then deliverable by you from any account of the undersigned, the placing of such order shall constitute a representation by the undersigned that it is impracticable for the undersigned then to deliver such securities to you but that the undersigned will deliver them as soon as it is possible to do so, without undue inconvenience or expense to you.

Short and Long Sales. It is understood and agreed that the undersigned, when placing with you any sell order for a short account, will designate it as such and hereby authorizes you to xxxx such order as being '“short,' ” and when placing with you any sell order for a long account, will designate it as such and hereby authorizes you to xxxx such order as being '"long.' ” Any sell order which the undersigned shall designate as being for a long account, as above provided, is for securities then owned by the undersigned and, if such securities are not then deliverable by you from any account of the undersigned, the placing of such order shall constitute a representation by the undersigned that it is impracticable for the undersigned then to deliver such securities to you but that the undersigned will deliver them as soon as it is possible to do so, without undue inconvenience or expense to you.

Short and Long Sales. It is understood and agreed that the undersignedUndersigned, when placing with you any sell order for a short account, will designate it as such and hereby authorizes you to xxxx such order as being '“short,' ” and when placing with you any sell order for a long account, will designate it as such and hereby authorizes you to xxxx such order as being '“long.' ” Any sell order which the undersigned Undersigned shall designate as being for a long account, as above provided, is for securities then owned by the undersigned Undersigned and, if such securities are not then deliverable by you from any account of the undersignedUndersigned, the placing of such order shall constitute a representation by the undersigned Undersigned that it is impracticable for the undersigned Undersigned then to deliver such securities to you but that the undersigned Undersigned will deliver them as soon as it is possible to do so, without undue inconvenience convenience or expense to you.