Common use of Transactions and Settlements Clause in Contracts

Transactions and Settlements. All Client orders for the purchase or sale of securities and other property will be executed with the understanding that an actual purchaseor sale is intended and that it is the Client’s intention and obligation to deliver securities or the necessary funds by settlement date. If the Client fails to deliver to the financial advisor any securities and other property sold at the Client’s direction, the Financial Advisor is authorized to borrow the securities and other property necessary to enable the Financial Advisor to make delivery. The Client agrees to be responsible for any cost or loss the Financial Advisor may incur, or the cost of obtaining the securities and other property which the Financial Advisor is unable to borrow. The Financial Advisor is the Client’s agent to complete all such transactions and is authorized to make advances and expend monies as required. Please be advised that certain orders, at Xxxxxxx or your Financial Advisor’s discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You should be aware that with respect to any order, you would receive the price at which your order was executed in the marketplace, which may be different from the price at which the security or option is trading when your order is entered. You understand that Xxxxxxx may not be held liable for acting upon false oral instructions or forged documents.

Transactions and Settlements. All Client customer orders for the purchase or sale of securities and other property will be executed with the understanding that an actual purchaseor purchase or sale is intended and that it is the ClientCustomer’s intention and obligation to deliver securities or the necessary funds by settlement date. If the Client Customer fails to deliver to the financial advisor any securities and other property sold at the ClientCustomer’s direction, the Financial Advisor is authorized to borrow the securities and other property necessary to enable the Financial Advisor to make delivery. The Client Customer agrees to be responsible for any cost or loss the Financial Advisor may incur, or the cost of obtaining the securities and other property which the Financial Advisor is unable to borrow. The Financial Advisor is the ClientCustomer’s agent to complete all such transactions and is authorized to make advances and expend monies as required. Please be advised that certain orders, at Xxxxxxx or your Financial Advisor’s discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You should be aware that with respect to any order, you would receive the price at which your order was executed in the marketplace, which may be different from the price at which the security or option is trading when your order is entered. You understand that Xxxxxxx may not be held liable for acting upon false oral instructions or forged documents.