Exhibit 10.3
ASSIGNMENT AGREEMENT
Effective, April 6, 2001, Herzog, Heine, Geduld, Inc. ("Xxxxxx")
hereby assigns to Broadcort Capital Corp. ("BCC") all of its rights and
obligations under the Clearing Agreement between CBNY Investment Services
Corp. ("CBNY") and Xxxxxx dated February 6, 2001. Xxxxxx will not retain
any rights or duties under the Clearing Agreement.
CBNY's rights and duties under the Clearing Agreement will remain
the same with respect to BCC. CBNY hereby consents to this assignment as
evidenced by its signature below.
This agreement, together with the Clearing Agreement, represents
the complete and total agreement between the parties.
APPROVED BY:
HERZOG, HEINE, GEDULD, INC.
By: /s/ XXXXXXX XXXXXXXXXXXX
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Title: SENIOR VICE PRESIDENT
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Date: 4/10/01
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BROADCORT CAPITAL CORP.
By: /s/ XXX XXXXXXX XXXXX
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Title: SENIOR VICE PRESIDENT
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Date: April 9, 2001
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Address for Notices: 000 Xxxxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Copy to: General Counsel (same address)
ACCEPTED BY:
CBNY INVESTMENT SERVICES CORP.
By: /s/ XXXX X. XXXXXXXX
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Title: PRESIDENT & CEO
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Date: 4/06/01
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