Common use of Stock Records Clause in Contracts

Stock Records. Pershing shall maintain stock records and other prescribed books and records of all transactions executed or cleared through it on a basis consistent with generally accepted practices in the securities industry and with applicable laws and rules governing clearing brokers. Pershing shall maintain, and make available to Broker, such books and records after termination of this Agreement for so long as Pershing is required to maintain such books and records as required by and in accordance with applicable law. To the extent not required by law, Pershing will make such books and records available to Broker after the termination of this Agreement upon Broker’s reasonable request so long as Pershing has retained such books and records set forth above. Broker shall reimburse Pershing for its costs and expenses in retrieving such books and records.