Termination Under S.I.P.A. In the event that Broker is the subject of the issuance of a protective decree pursuant to the Securities Investor Protection Act of 1970 (15 U.S.C. § 78aaa-111), Pershing’s claim for payment of a termination fee under this Agreement shall be subordinate to claims of Broker’s customers that have been approved by the Trustee appointed by the Securities Investor Protection Corporation pursuant to the issuance of such protective decree.
Appears in 3 contracts
Samples: Fully Disclosed Clearing Agreement (Gleacher & Company, Inc.), Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)
Termination Under S.I.P.A. In the event that Broker is the subject of the issuance of a protective decree pursuant to the Securities Investor Protection Act of 1970 (15 U.S.C. § USC 78aaa-111), Pershing’s claim for payment of a termination fee under this Agreement shall be subordinate to claims of Broker’s customers that have been approved by the Trustee appointed by the Securities Investor Protection Corporation pursuant to the issuance of such protective decree.
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (International Assets Holding Corp)
Termination Under S.I.P.A. In the event that Broker is the subject of the issuance of a protective decree pursuant to the Securities Investor Protection Act of 1970 (15 U.S.C. § 78aaa-111), PershingFirst Clearing’s claim for payment of a termination fee under this Agreement shall be subordinate to claims of Broker’s customers that have been approved by the Trustee appointed by the Securities Investor Protection Corporation pursuant to the issuance of such protective decree.
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc)
Termination Under S.I.P.A. In the event that Broker is the subject of the issuance of a protective decree pursuant to the Securities Investor Protection Act of 1970 (15 U.S.C. § 78aaa-111), Pershing’s claim for payment of a termination fee under this Agreement shall be subordinate to claims of Broker’s customers that have been approved by the Trustee appointed by the Securities Investor Protection Corporation pursuant to the issuance of such protective decree.. 24.0 CONFIDENTIALITY
Appears in 1 contract
Samples: Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)
