Common use of Suspension or Restriction Clause in Contracts

Suspension or Restriction. In the event that CLAY or any employee of CLAY shall become subject to suspension or restriction by any regulatory body having jurisdiction over CLAY and CLAY's securities business, CLAY will notify FSWC immediately and CLAY authorizes FSWC to take such steps as may be necessary for FSWC to maintain compliance with the rules and regulations to which FSWC is subject. CLAY further authorizes FSWC, in such event, to comply with directives or demands made upon FSWC by any exchange or regulatory body. In connection with such directives or demands, FSWC may seek advice or legal counsel and CLAY will reimburse FSWC for reasonable fees and expenses of such counsel.