Ineligible Securities definition

Ineligible Securities means securities which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Banking Act of 1933 (12 U.S.C. Section 24, Seventh), as amended.

Ineligible Securities has the meaning specified in Section 7.07(b).

Ineligible Securities means securities having zero Margin Ratio as determined by the Bank at any relevant time;

Examples of Ineligible Securities in a sentence

• Except for Ineligible Securities (as described below), FutureAdvisor, in its sole discretion, will determine whether to hold or sell Legacy Securities, generally, but not solely, with the goal of optimizing tax impacts for Accounts that are subject to tax.

• LPL’s instruction to FutureAdvisor to liquidate Ineligible Securities does not take into consideration tax impacts for Accounts that are subject to tax, and may have adverse tax consequences for Client.

• LPL instructs FutureAdvisor to liquidate any Ineligible Securities as soon as commercially practicable.

• If Client transfers Legacy Securities into the Account, FutureAdvisor will not accept investment authority over the Legacy Securities prior to determining whether any are Ineligible Securities, which may take up to four business days after the Account is funded with Legacy Securities.

• Account assets include cash and securities locked by you but exclude Ineligible Securities.

More Definitions of Ineligible Securities

Ineligible Securities means securities which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of Banking Act of 1933 (12 U.S.C. Section 24, Seventh), as amended.

Ineligible Securities means securities which may not be underwritten

Ineligible Securities has the meaning specified in subsection --------------------- 7.03(b).

Ineligible Securities securities which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Banking Act of 1993 (12 U.S.C. Section 24, Seventh), as amended.

Ineligible Securities is defined in SECTION 10.2 of this Agreement.

Ineligible Securities means any obligations, securities, certificates or instruments that (i) are denominated in a currency other than U.S. Dollars, (ii) are issued other than in Federal Reserve book entry form, or (iii) constitute or include structured notes or other structured debt instruments, real estate mortgage investment conduits, collateralized mortgage obligations, guaranteed mortgage certificates, interest-only securities, principal-only securities or any securities representing interests in, or are composed in whole or in part of, residual or high risk mortgage derivatives or other derivatives.

Ineligible Securities. Any security which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Bank Act of 1933 (12 U.S.C. Section 24, Seventh), as amended. Instrument: Any instrument, as that term is defined in the Uniform Commercial Code, owned or held by any Person, whether now owned or in existence or hereafter created or acquired.