NDOs definition
NDOs. Each Customer (as applicable), hereby agrees to pay Morgan Stanley a servicing fee in the amount of USD 8.00 per each U▇▇ ▇ ▇i▇▇▇▇▇ (or its equivalent) in notional amount of Give-In Transactions that Advisor enters into on behalf of the Accounts for the first USD 2 billion in a calendar month. The fee in the amount of USD 8.00 per each USD 1 million shall be reduced to USD 6.00 per each USD 1 million if the business exceeds USD 2 billion in a given calendar month. Provided, however, that such fee shall not be payable for any Customer Transaction that Morgan Stanley rejects or for any foreign exchange transactions tha▇ ▇▇▇ e▇▇▇▇▇▇▇ by Advisor on behalf of the Accounts directly with Morgan Stanley and not through any Dealer under the terms of a Give-▇▇ ▇▇r▇▇▇▇▇▇.