Common use of Joint Clients Clause in Contracts

Joint Clients. 8.1 Where the Client consists of more than one person: (a) each Client shall be a joint tenant in relation to the other Clients with a right of survivorship. For the avoidance of doubt, the joint account holders are not, in relation to each other, tenants in common; (b) the liability and obligations of each of them shall be joint and several and references to the Client shall be construed, as the context requires, to any or each of them; (c) the Dealer shall be entitled, but shall not be obliged, to act on instructions or requests from any of them; (d) the Dealer shall be entitled to deal separately with any of the Client on any matter including the discharge of any liability to any extent without affecting the liability of any others; (e) any Investment order or amendment to such Investment order made by one of the joint Client or their authorized representative shall be accepted and be binding on all and each of them; and (f) any communication, including any notices, Precious Metals Contracts or statements in relation to the funds in the Client’s account sent by the Dealer to any of the joint Clients or authorized representative’s correspondence address, as provided by the Client in the information statement, shall be deemed to be duly received by all of them and to have deemed knowledge of the contents thereof. (g) any Investment orders or any other instructions given by each Client or the authorized representative of each Client shall be deemed to be mutually accepted by each of the joint Client. 8.2 Where the Client consists of more than one person, on the death of any of such persons (being survived by any other such persons), this Agreement shall not be terminated and the interest in the account(s) of the deceased will thereupon vest in and ensure for the benefit of the survivor(s) provided that any liabilities incurred by the deceased Client shall be enforceable by the Dealer against such deceased Client’s estate. The surviving Client(s) shall give the Dealer written notice immediately upon any of them becoming aware of any such death.