Common use of Introducing Clause in Contracts

Introducing. Firm shall give Clearing Agent written notice of any proposed audit. In such notice, Introducing Firm shall advise Clearing Agent of (i) the commencement date of the audit, which may not be earlier than thirty (30) days after the date of Clearing Agent’s receipt of the audit notice, (ii) the scope of the audit in detail, (iii) the anticipated termination date of the audit, which may not be longer than thirty (30) days after the commencement date, unless Clearing Agent agrees to a longer period and (iv) the names of Clearing Agent’s employees who will conduct the audit. All audits will be conducted during Clearing Agent’s normal business hours. Notwithstanding anything else contained in this Section, Clearing Agent agrees that it shall make its facilities, personnel and records available at any time without prior notice if requested by any of Introducing Firm’s regulators pursuant to an audit of Introducing Firm by any of such regulators.