Speculation. seek a significant increase in principal • willing to accept a correspondingly greater degree of risk by investing in securities with high historical risk of loss of principal Typical Investments • lower quality long-term fixed income investments • initial public offerings (IPOs) • volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations • short-term or day-trading strategies • seek to take advantage of short-term trading opportunities (a high-risk strategy) • short-term purchases and sales of volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations POLICIES ON TRANSACTIONS Any new deposits (including checks) and any proceeds from transactions are credited promptly to your account. Upon receipt of the deposit we will immediately forward the funds to the holding company. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we incur in collecting the debt, When multiple debit items become payable at the same time, these items will be paid in the following order: • securities transactions (including any margin calls) and any account fees • debit card transactions • checks written against your account When settling debits against your account, it is our policy to turn to the following sources (collectively called your “available balance”), in this order: • any cash available in your account without incurring margin interest charges (including both core and income account balances) • if you have a margin account, any margin credit available • any shares in another money market fund, including any in another non- retirement account with the same registration (which you authorize us to sell for this purpose when you sign the application) • any securities in this or any other account furnished by us in which you have an interest
Appears in 2 contracts
Samples: Customer Account Agreement, Customer Account Agreement
Speculation. seek a significant increase in principal • willing to accept a correspondingly greater degree of risk by investing in securities with high historical risk of loss of principal Typical Investments • lower lower-quality long-term fixed fixed-income investments • initial public offerings (IPOs) • volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations • short-term or day-trading strategies • seek to take advantage of short-term trading opportunities (a high-high- risk strategy) • short-term purchases and sales of volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations POLICIES ON TRANSACTIONS • seek a mix of growing principal value and generating income from investments • willing to invest in securities with moderate historical risk of loss of principal while having the potential to pay income • common stocks • medium-term fixed-income investments • growth and Income mutual funds Any new deposits (including checks) and any proceeds from transactions are credited promptly to your core account. Upon receipt of If you have a money market fund for your core account investment vehicle, all core credits will be automatically swept into that fund. All investments must meet the deposit we fund’s investment minimums. Money in your core account investment vehicle earns dividends, as described in the applicable fund’s prospectus. If in the future you have a different money market fund for your core account investment vehicle, these provisions will immediately forward the funds still apply. If you have a Bank Deposit Sweep Program as your core account investment vehicle, your core account credits (which are considered cash balances awaiting reinvestment) will be moved each day to the holding companyBank Deposit Sweep Program. Money in the Bank Deposit Sweep Program generally earns interest as described in the applicable disclosure document and the rate of such interest paid is determined by us, also as indicated in the applicable disclosure document or website, and may change at any time without notice to you. To learn more, refer to the Bank Deposit Sweep Program disclosure document. You may also speak with your Investment Representative if you have questions regarding the Bank Deposit Sweep Program. If you have a taxable interest-bearing credit account for your core account investment vehicle, your core account credits (which are considered cash balances awaiting reinvestment) may earn interest, at our discretion. The rate of any interest paid, as well as any minimums that may apply, is determined by NFS or us and may change at any time without notice to you. To learn more, speak to one of our representatives. Note that while incoming checks will begin to earn dividends or interest upon deposit, you may have to wait up to four days before being able to draw on the proceeds (regardless of your core account investment vehicle). Credit balances in your income account may earn taxable interest, the rate of which is determined by NFS or us and may change at any time without notice to you. Any income account interest will be based on the daily averaging of income account credit balances during the interest period and, as long as it amounts to at least one cent, is paid on the first business day following the 20th day of each month and reflected on your month-end statement. Note that free credit balances in your core account and income account will not be combined to determine your interest earnings in either account. If a check issued to you from your account remains uncashed and outstanding for at least six months, you authorize and instruct NFS to cancel the check and return the underlying proceeds to you by depositing the proceeds into your account’s core position. Debit items (including checks, debit card transactions, bill payments, securities purchases, electronic transfers of money, levies, court orders or other legal process payments) are paid daily to the extent that sufficient funds are available. Note that debits to resolve securities transactions (including margin calls) or the payment of account fees will be given priority over other debits, such as checks or debit card transactions. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner owner, you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest (at prevailing margin rates) that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we or NFS incur in collecting the debt, When multiple debit items become payable at the same time, these items will be paid in the following order: • securities transactions (including any margin calls) and any account fees • debit card transactions • checks written against your account . When settling debits against your account, it is our NFS’s policy to turn to the following sources (collectively called your “available balance”), in this order: • any cash available in your account without incurring margin interest charges (including both i.e., core and income account free credit balances) • if you have a margin account, any margin credit available • any shares in another eligible money market fund, including fund • any in another non- retirement account with the same registration margin availability (which you authorize us to sell for this purpose when you sign the applicationmay incur margin interest) • any cash or securities in this or any other account furnished by us in which you have an interestinterest You authorize us to use cash or securities for this purpose when you sign the application. In the event you hold a money market mutual fund in your core account that is subject to a liquidity fee or redemption gate (as described in more detail in the fund’s prospectus), upon notice to NFS by the fund that a liquidity fee or redemption gate has been imposed, NFS will remove the impacted fund from your core account and you will hold that fund as a non-core position in your account. Any future core transaction sweeps to the impacted money market mutual fund will cease and amounts in your account awaiting reinvestment will be held in a free credit balance as described in this agreement. The cash available and running collected balance in your account will be reduced by the amount of the value of the impacted money market mutual fund if the fund had been included in the cash available and running collected balance. Payment of debit items from your account will continue to be paid as described in this agreement, but NFS will only pay items from a money market fund that has imposed a liquidity fee as part of that payment process after the other sources are attempted. NFS and/or your Broker/Dealer will help facilitate the selection of a different core account. In the event you hold a money market mutual fund in your account that is held outside of your core account that is subject to a liquidity fee or redemption gate (as described in more detail in the fund’s prospectus), upon notice to NFS by the fund that a liquidity fee or redemption gate has been imposed, the cash available and running collective balance in your account will be reduced by the amount of the value of the impacted money market mutual fund. Payment of debit items from your account will continue to be paid as described in this agreement, but NFS will only pay items from a money market fund that has imposed a liquidity fee as part of that payment process after the other sources are attempted. You acknowledge that if a money market mutual fund held in your account imposes a liquidity fee or redemption gate, the money market mutual fund may not provide NFS with much, if any, advance notice of such liquidity fee or redemption gate. As a result, you may not be notified of such liquidity fee or redemption gate when you submit a trade. However, as instructed by the fund (and disclosed in the fund prospectus), your trade will be subject to such liquidity fee or redemption gate, and it may be applied to your trade retroactively. Interest on any margin debt will accrue beginning the day credit is extended and is subject to the terms of the Supplemental Application for NFS Margin Account Privileges. Money market fund shares used to pay debits are redeemed at the NAV in effect at the time. For disclosures concerning money market funds, see “Money Market Fund Investments” later in this agreement.
Appears in 1 contract
Samples: Brokerage Account Customer Agreement
Speculation. An investment objective of Speculation indicates you seek a significant increase in the principal • value of your investments and are willing to accept a correspondingly corresponding greater degree of risk by investing in securities with that have historically demonstrated a high historical degree of risk of loss of principal Typical Investments • value to pursue this objective. Some examples of typical investments might include lower quality quality, long-term fixed income investments • products, initial public offerings (IPOs) • offerings, volatile or low-low priced common stocks • equity stock, the purchase of sale of put or index options strategies such as puts or callscall options, spreads, straddlesstraddles and/or combinations on equities or indexes, and combinations • the use of short-term or dayday trading strategies. Other: Please specify. TO: RE: Client Wire Transfer Authorization Bionik Laboratories Inc. DATE: ________________ This memorandum authorizes the transfer of the following listed funds from my Brokerage Account as follows: Wire Amount $_______________________________________________ Investment Title: Signature: Signature: (Joint Signature) Each selling stockholder of the securities offered hereby and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their securities covered hereby on the principal trading strategies • seek market or any other stock exchange, market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices. A selling stockholder may use any one or more of the following methods when selling securities: · ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; · block trades in which the broker-dealer will attempt to take advantage sell the securities as agent but may position and resell a portion of shortthe block as principal to facilitate the transaction; · purchases by a broker-term trading opportunities dealer as principal and resale by the broker-dealer for its account; · an exchange distribution in accordance with the rules of the applicable exchange; · privately negotiated transactions; · settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part; · in transactions through broker-dealers that agree with the selling stockholders to sell a specified number of such securities at a stipulated price per security; · through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; · a combination of any such methods of sale; or · any other method permitted pursuant to applicable law. The selling stockholders may also sell securities under Rule 144 under the Securities Act of 1933, as amended (or the Securities Act), if available, rather than under this prospectus. Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a highsupplement to this prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440. In connection with the sale of the securities or interests therein, the selling stockholders may enter into hedging transactions with broker-risk strategydealers or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The selling stockholders may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). The selling stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities. In no event shall any broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent (8%). We are required to pay certain fees and expenses incurred by us incident to the registration of the securities. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act. Because selling stockholders may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to the prospectus delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus. The selling stockholders have advised us that there is no underwriter or coordinating broker acting in connection with the proposed sale of the resale securities by the Selling Stockholders. We have agreed to keep this prospectus effective until the earlier of (i) • shortthe date on which the securities may be resold by the selling stockholders without registration and without regard to any volume or manner-term of-sale limitations by reason of Rule 144, without the requirement for us to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with. Under applicable rules and regulations under the Securities Exchange Act of 1934, as amended (or the Exchange Act), any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M promulgated under the Exchange Act, prior to the commencement of the distribution. In addition, the selling stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of volatile securities of the common stock by the selling stockholders or low-priced common stocks • equity any other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or index options strategies such as puts or calls, spreads, straddles, and combinations POLICIES ON TRANSACTIONS Any new deposits prior to the time of the sale (including checksby compliance with Rule 172 under the Securities Act). The undersigned beneficial owner of common stock and warrants (the “Registrable Securities”) and any proceeds from transactions are credited promptly to your account. Upon receipt of Bionik Laboratories Inc., a [_____] corporation (the deposit we will immediately forward the funds to the holding company. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we incur in collecting the debt, When multiple debit items become payable at the same time, these items will be paid in the following order: • securities transactions (including any margin calls) and any account fees • debit card transactions • checks written against your account When settling debits against your account, it is our policy to turn to the following sources (collectively called your “available balanceCompany”), in this order: • any cash available in your account without incurring margin interest charges (including both core and income account balances) • if you have a margin account, any margin credit available • any shares in another money market fund, including any in another non- retirement account understands that the Company has filed or intends to file with the same Securities and Exchange Commission (the “Commission”) a registration statement (the “Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities, in accordance with the terms of the Subscription Agreement (the “Subscription Agreement”) to which you authorize us this document is annexed. A copy of the Subscription Agreement is available from the Company upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Subscription Agreement. Certain legal consequences arise from being named as a selling stockholder in the Registration Statement and the related prospectus. Accordingly, holders and beneficial owners of Registrable Securities are advised to sell for this purpose when you sign consult their own securities law counsel regarding the application) • any securities consequences of being named or not being named as a selling stockholder in this or any other account furnished by us in which you have an interestthe Registration Statement and the related prospectus.
Appears in 1 contract
Speculation. An investment objective of Speculation indicates you seek a significant increase in the principal • value of your investments and are willing to accept a correspondingly corresponding greater degree of risk by investing in securities with that have historically demonstrated a high historical degree of risk of loss of principal Typical Investments • value to pursue this objective. Some examples of typical investments might include lower quality quality, long-term fixed income investments • products, initial public offerings (IPOs) • offerings, volatile or low-low priced common stocks • equity stock, the purchase of sale of put or index options strategies such as puts or callscall options, spreads, straddlesstraddles and/or combinations on equities or indexes, and combinations • the use of short-term or dayday trading strategies. Other: Please specify. TO: RE: Client Wire Transfer Authorization Biotricity Inc. DATE: ________________ This memorandum authorizes the transfer of the following listed funds from my Brokerage Account as follows: Brokerage Account # Wire Amount $______________________ FBO: ________________________________________________ Investment Title: ________________________________________________ Signature: ________________________________________________ Signature: ________________________________________________ (Joint Signature) BIOTRICITY INC. Each selling stockholder of the securities offered hereby and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their securities covered hereby on the principal trading strategies • seek market or any other stock exchange, market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices. A selling stockholder may use any one or more of the following methods when selling securities: · ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; · block trades in which the broker-dealer will attempt to take advantage sell the securities as agent but may position and resell a portion of shortthe block as principal to facilitate the transaction; · purchases by a broker-term trading opportunities dealer as principal and resale by the broker-dealer for its account; · an exchange distribution in accordance with the rules of the applicable exchange; · privately negotiated transactions; · settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part; · in transactions through broker-dealers that agree with the selling stockholders to sell a specified number of such securities at a stipulated price per security; · through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; · a combination of any such methods of sale; or · any other method permitted pursuant to applicable law. The selling stockholders may also sell securities under Rule 144 under the Securities Act of 1933, as amended (or the Securities Act), if available, rather than under this prospectus. Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a highsupplement to this prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440. In connection with the sale of the securities or interests therein, the selling stockholders may enter into hedging transactions with broker-risk strategydealers or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The selling stockholders may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). The selling stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities. In no event shall any broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent (8%). We are required to pay certain fees and expenses incurred by us incident to the registration of the securities. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act. Because selling stockholders may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to the prospectus delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus. The selling stockholders have advised us that there is no underwriter or coordinating broker acting in connection with the proposed sale of the resale securities by the Selling Stockholders. We have agreed to keep this prospectus effective until the earlier of (i) • shortthe date on which the securities may be resold by the selling stockholders without registration and without regard to any volume or manner-term of-sale limitations by reason of Rule 144, without the requirement for us to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with. Under applicable rules and regulations under the Securities Exchange Act of 1934, as amended (or the Exchange Act), any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M promulgated under the Exchange Act, prior to the commencement of the distribution. In addition, the selling stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of volatile securities of the common stock by the selling stockholders or low-priced common stocks • equity any other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or index options strategies such as puts or calls, spreads, straddles, and combinations POLICIES ON TRANSACTIONS Any new deposits prior to the time of the sale (including checksby compliance with Rule 172 under the Securities Act). BIOTRICITY INC. Selling Stockholder Notice and Questionnaire The undersigned beneficial owner of common stock and warrants (the “Registrable Securities”) and any proceeds from transactions are credited promptly to your account. Upon receipt of Biotricity Inc., a Nevada corporation (the deposit we will immediately forward the funds to the holding company. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we incur in collecting the debt, When multiple debit items become payable at the same time, these items will be paid in the following order: • securities transactions (including any margin calls) and any account fees • debit card transactions • checks written against your account When settling debits against your account, it is our policy to turn to the following sources (collectively called your “available balanceCompany”), in this order: • any cash available in your account without incurring margin interest charges (including both core and income account balances) • if you have a margin account, any margin credit available • any shares in another money market fund, including any in another non- retirement account understands that the Company has filed or intends to file with the same Securities and Exchange Commission (the “Commission”) a registration statement (the “Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities, in accordance with the terms of the Subscription Agreement (the “Subscription Agreement”) to which you authorize us this document is annexed. A copy of the Subscription Agreement is available from the Company upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Subscription Agreement. Certain legal consequences arise from being named as a selling stockholder in the Registration Statement and the related prospectus. Accordingly, holders and beneficial owners of Registrable Securities are advised to sell for this purpose when you sign consult their own securities law counsel regarding the applicationconsequences of being named or not being named as a selling stockholder in the Registration Statement and the related prospectus. NOTICE The undersigned beneficial owner (the “Selling Stockholder”) • any securities of Registrable Securities hereby elects to include the Registrable Securities owned by it in this or any other account furnished by us in which you have an interestthe Registration Statement. The undersigned hereby provides the following information to the Company and represents and warrants that such information is accurate: QUESTIONNAIRE
Appears in 1 contract
Speculation. seek a significant increase in principal • willing to accept a correspondingly greater degree of risk by investing in securities with high historical risk of loss of principal Typical Investments • lower lower-quality long-term fixed fixed-income investments • initial public offerings (IPOs) • volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations • short-term or day-trading strategies • seek to take advantage of short-term trading opportunities (a high-high- risk strategy) • short-term purchases and sales of volatile or low-priced common stocks • equity or index options strategies such as puts or calls, spreads, straddles, and combinations POLICIES ON TRANSACTIONS Any new deposits (including checks) and any proceeds from transactions are credited promptly to your core account. Upon receipt If you have a money market fund for your core account investment vehicle, all core credits will be automatically swept into that fund — daily for amounts of $1.00 or more or weekly for lesser amounts. All investments must meet the deposit we fund’s investment minimums. Money in your core account investment vehicle earns dividends, as described in the applicable fund’s prospectus. If in the future you have a different money market fund for your core account investment vehicle, these provisions will immediately forward the funds still apply. If you have a Bank Deposit Sweep Program as your core account investment vehicle, your core account credits (which are considered cash balances awaiting reinvestment) will be moved each day to the holding companyBank Deposit Sweep Program. Money in the Bank Deposit Sweep Program generally earns interest as described in the applicable disclosure document and the rate of such interest paid is determined by us, also as indicated in the applicable disclosure document, and may change at any time without notice to you. To learn more, refer to the Bank Deposit Sweep Program disclosure document. You may also speak with your Investment Representative if you have questions regarding the Bank Deposit Sweep Program. If you have a taxable interest-bearing credit account for your core account investment vehicle, your core account credits (which are considered cash balances awaiting reinvestment) may earn interest, at our discretion. The rate of any interest paid, as well as any minimums that may apply, is determined by NFS or us and may change at any time without notice to you. To learn more, speak to one of our representatives. Note that while incoming checks will begin to earn dividends or interest upon deposit, you may have to wait up to four days before being able to draw on the proceeds (regardless of your core account investment vehicle). Credit balances in your income account may earn taxable interest, the rate of which is determined by NFS or us and may change at any time without notice to you. Any income account interest will be based on the daily averaging of income account credit balances during the interest period and, as long as it amounts to at least one cent, is paid on the first business day following the 20th day of each month and reflected on your month-end statement. Note that free credit balances in your core account and income account will not be combined to determine your interest earnings in either account. If a check issued to you from your account remains uncashed and outstanding for at least six months, you authorize and instruct NFS to cancel the check and return the underlying proceeds to you by depositing the proceeds into your account’s core position. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner owner, you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest (at prevailing margin rates) that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we or NFS incur in collecting the debt, . When multiple debit items become payable at the same time, these items will be paid in the following order: • securities transactions (including any margin calls) and any account fees • debit card transactions • checks written against your account When settling debits against your account, it is our NFS’s policy to turn to the following sources (collectively called your “available balance”), in this order: • any cash available in your account without incurring margin interest charges (including both core and income account balances) • if you have a margin account, any margin credit available • any shares in another money market fund, including any in another non- retirement nonretirement account with the same registration (which you authorize us to sell for this purpose when you sign the application) • any securities in this or any other account furnished by us in which you have an interestinterest Interest on any margin debt will accrue beginning the day credit is extended and is subject to the terms of the Supplemental Application for NFS Margin Account Privileges. Money market fund shares used to pay debits are redeemed at the NAV in effect at the time (typically $1.00). For disclosures concerning money market funds, see “Money Market Fund Investments” later in this agreement.
Appears in 1 contract
Samples: Brokerage Account Customer Agreement
