Common use of Underlying Collateral Calls Clause in Contracts

Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.

Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.

Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose non-purpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.

Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to agrexx xx cooperate with Pershing Xxxxxxng in complying with and obtaining obxxxxxxx underlying collateral in response to such calls.