Common use of Worthless Securities Clause in Contracts

Worthless Securities. The Firm may remove a worthless security from your account including, and without limitation to, the following circumstance: the primary custodian, the Depository Trust Company, has deemed the security eligible for removal and the Firm has reviewed and determined, to the best of its ability, that the security has no market value. You agree to waive any claim to any future distribution from the security and agree to indemnify and hold the Firm harmless from any claims, liability, or damages resulting from the removal of such security. If you provide the Firm with evidence of the value of the security from an independent third party within 60 days of receiving your account statement noting the removal, the Firm will review and, if able to, reinstate your position.

Worthless Securities. The Firm may remove a worthless security from your account Account including, and without limitation to, the following circumstance: the primary custodian, the Depository Trust Company, has deemed the security eligible for removal and the Firm has reviewed and determined, to the best of its ability, that the security has no market value. You agree to waive any claim to any future distribution from the security and agree to indemnify and hold the Firm harmless from any claims, liability, or damages resulting from the removal of such security. If you provide the Firm with evidence of the value of the security from an independent third party within 60 days of receiving your account statement noting the removal, the Firm will review and, if able to, reinstate your position.

Worthless Securities. The Firm may remove a worthless security from your account Account including, and without limitation to, the following circumstance: the primary custodian, the Depository Trust Company, has deemed the deemedthe security eligible for removal and the Firm has reviewed and determined, to the best of its ability, that the security has no market value. You agree to waive any claim to any future distribution from the security and agree to indemnify and hold the Firm harmless from any claims, liability, or damages resulting from the removal of such security. If you provide the Firm with evidence of the value of the security from an independent third party within 60 days of receiving your account statement noting the removal, the Firm will review and, if able to, reinstate your position.