The Foundation. Although this Client Agreement is primarily entered into by and between You and Vivid NL, You should be aware that Vivid NL uses a separate legal entity for asset segregation purposes. This separate legal entity is a Dutch foundation, Stichting Vivid Money (the Foundation). The Foundation has no shareholders or members, which means that it is protected in the event of Vivid NL’s bankruptcy. Vivid NL only uses the Foundation to hold funds that are being transferred from and to Your Vivid Money account (as defined in paragraph 4.1 below) to and from an Executing Broker. Therefore, the parts of this Client Agreement dealing with depositing and withdrawing funds to and from Your Invest Cash Pocket and placing Orders are also entered into by Vivid NL by and on behalf of the Foundation. See Article 8 below for more information about the Foundation. Please note that Vivid NL has the full authority to represent the Foundation, so You as Our Client will never need to approach (or interact with) the Foundation directly – all communications and engagements between You as Our Client and the Foundation go through Vivid NL.
Appears in 4 contracts
Sources: Client Agreement, Client Agreement, Client Agreement
The Foundation. Although this Client Agreement is primarily entered into by and between You and Vivid NL, You should be aware that Vivid NL uses a separate legal entity for asset segregation purposes. This separate legal entity is a Dutch foundation, Stichting Vivid Money (the Foundation). The Foundation has no shareholders or members, which means that it is protected in the event of Vivid NL’s bankruptcy. Vivid NL only uses the Foundation to hold funds that are being transferred from and to Your Vivid Money account Account (as defined in paragraph Clause 4.1 below) to and from an Executing Broker. Therefore, the parts of this Client Agreement dealing with depositing and withdrawing funds to and from the cash section of Your Invest Cash Pocket Investment Account and placing Orders are also entered into by Vivid NL by and on behalf of the Foundation. See Article 8 Clause 9 below for more information about the Foundation. Please note that Vivid NL has the full authority to represent the Foundation, so You as Our Client will never need to approach (or interact with) the Foundation directly – all communications and engagements between You as Our Client and the Foundation go through Vivid NL.
Appears in 1 contract
Sources: Client Agreement