Unsecured Debits Sample Clauses
The "Unsecured Debits" clause defines how amounts owed by one party that are not backed by collateral or security are treated under the agreement. In practice, this clause typically outlines the rights and obligations of the parties regarding such unsecured amounts, including how and when they must be paid, and any consequences for non-payment. Its core function is to clarify the handling of unsecured financial obligations, thereby reducing uncertainty and potential disputes over payment terms for debts that are not secured by assets.
Unsecured Debits. Pershing shall charge against the accounts of Broker an amount equal to the value of any unsecured debit (on a “▇▇▇▇ to market” basis) in a customer account if that position has not been promptly resolved by payment or delivery. Any remaining debit may be charged against Broker pursuant to Pershing’s right to offset in the Agreement.
Unsecured Debits. Pursuant to Section 19 of this Agreement, Clearing Agent shall charge against the Deposit Accounts of Introducing Firm an amount equal to the value of any unsecured debit (on a “▇▇▇▇ to market” basis) in a customer account if that position has not been promptly resolved by payment or delivery.
Unsecured Debits. First Clearing shall charge against the accounts of Broker an amount equal to the value of any unsecured debit (on a “▇▇▇▇ to market” basis) in a customer account if that position has not been promptly resolved by payment or delivery. Any remaining debit may be charged against Broker pursuant to Paragraph 19 of the Agreement.
Unsecured Debits. Clearing Firm shall charge against the accounts of Introducing Firm an amount equal to the value of any unsecured debit (on a “▇▇▇▇ to market” basis) in a customer account if that position has not been promptly resolved by payment or delivery. Any remaining debit may be charged against Introducing Firm, pursuant to this Agreement.