Common use of Preparation and Transmission Clause in Contracts

Preparation and Transmission. Apex will prepare and send, to the extent required by the Rules, to Correspondent monthly statements of account (or quarterly statements if no activity occurs in an account during any quarter covered by such statement), which statements shall meet Apex’s requirements as to format and quality. Apex will be responsible for preparing and transmitting confirmations. Apex will also provide to Correspondent monthly statements of clearing services performed by Apex for Correspondent Accounts showing the fees charged for such services during the month. Correspondent shall prepare and send to its customers statements of accounts and confirmations as applicable, and Apex shall have no responsibility thereto. Correspondent shall be responsible for the delivery of any prospectus or other documents or information to its customers.