Common use of Transfers of Monies/Positions Clause in Contracts

Transfers of Monies/Positions. At any time and from time to time, in your discretion, you may, without notice to the undersigned, apply and/or transfer any or all monies, securities, commodities or options of the undersigned interchangeably between any accounts (including joint accounts) of, or any account guaranteed by, the undersigned. In addition, and for greater certainty, whenever there shall be a credit balance in any account of the undersigned with you, the amount of such credit balance need not be segregated or held separately but may be commingled with your general funds and used for the general purposes of your business and such credit balance shall be deemed to be and shall be an item in a debtor and creditor account between the undersigned and you, and the undersigned shall rely solely on your liability in respect thereof. In addition, such funds may, in your discretion, be transferred to another account (including joint accounts) maintained by you for the undersigned. Unless otherwise instructed in writing, securities held free for the account of the undersigned may, at your discretion, be kept at any of the places where you have an office or maintain a depository arrangement.

Transfers of Monies/Positions. At any time and from time to time, in your discretion, you may, without notice to the undersigned, apply and/or and/ or transfer any or all monies, securities, commodities or options of the undersigned interchangeably between any accounts (including joint accounts) of, or any account guaranteed by, the undersigned. In addition, and for greater certainty, whenever there shall be a credit balance in any account of the undersigned with you, the amount of such credit balance need not be segregated or held separately but may be commingled with your general funds and used for the general purposes of your business and such credit balance shall be deemed to be and shall be an item in a debtor and creditor account between the undersigned and you, and the undersigned shall rely solely on your liability in respect thereof. In addition, such funds may, in your discretion, be transferred to another account (including joint accounts) maintained by you for the undersigned. Unless otherwise instructed in writing, securities held free for the account of the undersigned may, at your discretion, be kept at any of the places where you have an office or maintain a depository arrangement.