Failure of Delivery. In case of the sale of any security, commodity, or other property by you at the direction of the undersigned and your inability to deliver the same to the purchaser by reason of failure of the undersigned to supply you therewith, the undersigned authorizes you to borrow or purchase any such security, commodity, or other property necessary to make delivery thereof. The undersigned hereby agrees to be responsible for any loss which you may sustain thereby and any premiums which you may be required to pay thereon, and for any loss which you may sustain by reason of your inability to borrow or purchase the security, commodity, or other property sold to fulfill your delivery obligation.
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Sources: Client Agreement, Prime Broker Margin Account Agreement, Client Agreement (Ultratech Inc)
Failure of Delivery. In case of the sale of any security, commodity, or other property by you at the direction of the undersigned Undersigned and your inability to deliver the same to the purchaser by reason of failure of the undersigned Undersigned to supply you therewith, the undersigned Undersigned authorizes you to borrow or purchase any such security, commodity, or other property necessary to make delivery thereof. The undersigned Undersigned hereby agrees to be responsible for any loss which you may sustain thereby and any premiums which you may be required to pay thereon, and for any loss which you may sustain by reason of your inability to borrow or purchase the security, commodity, or other property sold to fulfill your delivery obligation.
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