Common use of Additional Undertaking Clause in Contracts

Additional Undertaking. Where SICO is acting as Custodian or as Nominee for a Security, SICO shall receive cash dividends or interest income on behalf of the Client for that particular Security and deposit the same for the account of the Client, unless the Client instructs otherwise.

Appears in 4 contracts

Sources: Brokerage Account Opening Agreement, Brokerage Account Opening Agreement, Terms and Conditions