Wrap Fees Associated with Additions and Withdrawals Sample Clauses

Wrap Fees Associated with Additions and Withdrawals. If you make a net deposit of additional assets into your Account of $10,000 or more in a single day during a Wrap Fee period, you will pay an additional Wrap Fee on the market value of the additional assets, prorated for the number of days remaining in the Wrap Fee period. The additional Wrap Fee will be due on the date you deposit the additional assets into your Account. Sponsor will not make pro rata adjustments to or refund prepaid Wrap Fees for partial withdrawals of less than $10,000 from your Account during any Wrap Fee period. However, if you make a net withdrawal amount in a single day from your Account exceeding $10,000 during a Wrap Fee period, you will receive a pro rata adjustment or refund of your prepaid Wrap Fee on the next business day. If the monthly Wrap Fee has not yet been deducted from your Account, it will be deducted on the same day as this rebate. You understand that when transferring assets from one Managed Account to a different Managed Account on the same business day, those assets will be included in the calculation of the Asset- based Fee for both Accounts for that day, provided that account minimums or addition and withdrawal thresholds have been met. You understand that you will not receive a rebate for a withdrawal from one Managed Account that does not meet the withdrawal threshold, even where you subsequently combine those assets with other assets to make a contribution into a different Managed Account that meets the addition threshold.
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Wrap Fees Associated with Additions and Withdrawals. If you make a net deposit of additional assets into your Account of $10,000 or more in a single day during a billing period, you will pay an additional Wrap Fee on the market value of the additional assets, prorated for the number of days including the date of the deposit, remaining in the billing period. The additional Wrap Fee will be due on the date you deposit the additional assets into your Account. You may request partial withdrawals from your Account on a systematic or ad hoc basis upon notice to Sponsor. In general, partial withdrawals from your Account should be in amounts not less than $50. With respect to partial withdrawals or terminations, you may request that Sponsor distribute assets from your Account in cash or securities. Any cash withdrawal may cause your Account to be rebalanced. If you request a cash withdrawal amount that is greater than the amount of available cash in your Account, you authorize Sponsor to trade your Account to raise the necessary amount of cash. You understand and agree that any trading related to such a withdrawal may be taxable and that your withdrawal will be available after any necessary trading is completed. You, either directly or through your financial advisor, may request a partial withdrawal or termination of your Account in writing or by telephone. Sponsor may record and monitor telephone calls for accuracy and quality assurance and may maintain and monitor any electronic communications. Sponsor will not make pro rata adjustments to or refund prepaid Wrap Fees for partial withdrawals of less than $10,000 from your Account during any Wrap Fee period. However, if you make a new withdrawal amount in a single day from your Account of $10,000 or more during a Wrap Fee period, you will receive a pro rata adjustment or refund of your prepaid Wrap Fee on the next business day. If the monthly Wrap Fee has not yet been deducted from your Account, it will be deducted on the same day as this rebate. You understand that when transferring assets from one Managed Account to a different Managed Account on the same business day, those assets will be included in the calculation of the Asset- based Fee for both Accounts for that day, provided that account minimums or addition and withdrawal thresholds have been met. You understand that you will not receive a rebate for a withdrawal from one Managed Account that does not meet the withdrawal threshold, even where you subsequently combine those assets with other assets to make a...
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