Freedom from Encumbrances. All assets held in your Retirement Account are free from any lien, charge or other encumbrance. For Accounts other than Retirement Accounts, all assets held in your Account are free from any lien, charge or other encumbrance excluding encumbrances in favor of us or our Affiliates. Such assets must remain so, unless your Account is not a Retirement Account, you notify us in advance in writing and we agree. In addition: • The terms of this Agreement will prevail in the event of any conflict with your collateral arrangements, and you have disclosed the terms of this Agreement to any lender. • We will not provide advice on or oversee any of your collateral arrangements. • There are no specific securities in your Account that must be held as collateral to secure your loan. • Collateralizing your Account may have adverse effects, including, but not limited to, the fact that the lending institution may require additional collateral or liquidation of securities held in your Account to meet a call, as well as related tax consequences. You must promptly notify us of any default or similar event under your collateral arrangements as defined in the respective collateral arrangements.
Appears in 2 contracts
Sources: Investment Advisory Agreement, Investment Advisory Agreement