Select Account definition
Examples of Select Account in a sentence
For the purpose of computing the Select Account fees due to the Broker dealer under this agreement the value of the Account shall be determined in good faith by SALI or its affiliates to reflect the fair market value.
The Client hereby represents and warrants that he or she has complete discretion to determine, in light of the Client’s own anticipated transaction activity, whether it would be appropriate to subscribe to the Select Account Fee arrangement in this addendum.
If this Agreement is executed by a trustee or other person on behalf of a client who is other than a real person (including, but not limited to, someone meeting the definition of a “fiduciary” under ▇▇▇▇▇), such trustee or other person represents and warrants that the Select Account Fee arrangement under this Agreement has been determined to be proper and permissible pursuant to any applicable plan, trust or other document and applicable law.
For agency transactions in equities and options covered by this addendum, the Client will pay the Select Account Fee and Transaction Cost in lieu of commissions on a trade-by-trade basis.
Payment of The Select Account fees, as described above, will be reflected on the client’s account statement.
Select Account fees calculated as described in the Fee Addendum will be charged to the account and automatically debited on the business day following the due date.
The Client’s Broker Dealer will participate in the Select Account Fee paid under this Agreement and may, from time to time and at the discretion of the Broker Dealer, receive other fees, credits and consideration associated with the Account.
Principal transactions will be executed at the national best bid or offering price, and the Client will pay only the Select Account Fee and transaction cost in lieu of mark-up/▇▇▇▇-▇▇▇▇▇ on a trade by trade basis.
Notice may be sent to SALI at Attn: Select Account Billing, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇.
The Client understands that the Select Account Fees payable under this arrangement represent an alternative to transaction based brokerage charges.