Common use of Payments due to us Clause in Contracts

Payments due to us. In the event of your failure to make any payment or to deliver any securities due to us, we reserve the right to retain any funds due (including monies held on your account) to you and to offset the liability against those funds. If you have not paid any amount owing on the same business day as the due settlement date we also reserve the right to sell any securities in our possession and to use the proceeds against your liability to us. In the event of your failure to make any payment due to us by the due settlement date we further reserve the right to charge interest on the overdue amount at the rate of 4% above our primary bankers’ base rate equivalent then ruling for sterling and 4% over cost of funds for foreign currencies. CGWIL reserve the right to pass on, and you shall be liable to CGWIL for, any additional charges charged to them by third parties in relation to such overdue amounts. All payments due to us by you must be made in immediately available funds to the account we designate without any set- off, counterclaim or deduction. If you make any deduction or withholding you shall pay such additional amount as shall T&A0011 | Terms of business | For Canaccord Genuity Wealth (International) Limited | August 2024 6 ensure we receive the full amount due without the deduction or withholding.

Appears in 1 contract

Sources: Terms of Business

Payments due to us. In the event of your failure to make any payment or to deliver any securities due to us, we reserve the right to retain any funds due (including monies held on your account) to you and to offset the liability against those funds. If you have not paid any amount owing on the same business day as the due settlement date we also reserve the right to sell any securities in our possession and to use the proceeds against your liability to us. In the event of your failure to make any payment due to us by the due settlement date we further reserve the right to charge interest on the overdue amount at the rate of 4% above our primary bankers’ base rate equivalent then ruling for sterling and 4% over cost of funds for foreign currencies. CGWIL Canaccord Wealth reserve the right to pass on, and you shall be liable to CGWIL Canaccord Wealth for, any additional charges charged to them by third parties in relation to such overdue amounts. All payments due to us by you must be made in immediately available funds to the account we designate without any set- set-off, counterclaim or deduction. If you make any deduction or withholding you shall pay such additional amount as shall T&A0011 | Terms of business | For Canaccord Genuity Wealth (International) Limited | August 2024 6 ensure we receive the full amount due without the deduction or withholding.

Appears in 1 contract

Sources: Terms of Business

Payments due to us. In the event of your failure to make any payment or to deliver any securities due to us, we reserve the right to retain any funds due (including monies held on your account) to you and to offset the liability against those funds. If you have not paid any amount owing on the same business day as the due settlement date we also reserve the right to sell any securities in our possession and to use the proceeds against your liability to us. In the event of your failure to make any payment due to us by the due settlement date we further reserve the right to charge interest on the overdue amount at the rate of 4% above our primary bankers’ base rate equivalent then ruling for sterling and 4% over cost of funds for foreign currencies. CGWIL reserve the right to pass on, and you shall be liable to CGWIL for, any additional charges charged to them by third parties in relation to such overdue amounts. All payments due to us by you must be made in immediately available funds to the account we designate without any set- set-off, counterclaim or deduction. If you make any deduction or withholding you shall pay such additional amount as shall T&A0011 | Terms of business | For Canaccord Genuity Wealth (International) Limited | August 2024 6 ensure we receive the full amount due without the deduction or withholding.

Appears in 1 contract

Sources: Terms of Business