Common use of Termination of Authorization Clause in Contracts

Termination of Authorization. The authorization you grant to your Advisor in this Agreement will remain effective until terminated or revoked by you or your Advisor in writing. If your Advisor is no longer eligible to utilize TPMR’s brokerage services, we will notify you in writing. Any such termination or revocation will not affect your obligations resulting from transactions initiated prior to our receipt or delivery of such notice or have any effect on any agreement you may have directly with your Advisor. TPMR has no obligation to refer or otherwise assign an alternative Advisor for your Account. Upon written notice of termination or revocation, TPMR will not honor any further instructions from your Advisor. TPMR will designate your Account a “Customer Directed Account” and you will have exclusive control over and responsibility for your Account. You understand and agree that if your Account is designated a Customer Directed Account, it will be subject to an Administration Custodial Fee and that TPMR’s standard fee schedule will be applied. The Administration Custodial Fee is charged to compensate TPMR for providing administrative services to you that we do not provide to traditional accounts in our regular course of business (e.g. telephone assisted trading and handling direct service and account support requests, etc.). The maximum Administration Custodial Fee is specified on the TradePMR – Maximum Commission and Fee Schedule & Pricing Guide and is subject to change. TPMR charges this fee monthly until the Account is closed or you appoint an eligible Advisor. The fee is not refundable and is not prorated for partial periods. When an Administration Custodial Fee is assessed, TPMR does not charge separate fees for Execution Services or Asset-Based Pricing. However, TPMR will continue to receive 12b-1 fees and Shareholder Service Fees, and assess Annual Fees and Service Charges in addition to the Administration Custodial Fee. TPMR assesses the Administration Custodial Fee 90 days after an Account is identified as Customer Directed Account. Account Disclosures