Common use of Transactions and Settlements Clause in Contracts

Transactions and Settlements. All orders for the purchase and/or sale of securities and/or other property will be authorized by you and executed with the understanding that an actual purchase or sale is intended and that it is your intention and obligation, in every case, to deliver certificates to cover any and all sales or to pay for transactions upon WFS' demand. If WFS makes a sale of any securities and/or other property at your direction or if you fail to deliver to WFS any securities and/or other property that WFS has sold at your direction, WFS is authorized to borrow or otherwise obtain the securities and/or other property necessary to enable WFS to make delivery, and you agree to be responsible for any cost or loss WFS may incur, including the cost of borrowing and/or obtaining the securities and/or other property. You agree that WFS is your agent to complete all such transactions and is authorized to make advances and expend monies as required. Though orders are usually routed to the marketplace within seconds, certain orders, at CFS' or WFS' sole discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also understand that you will receive the price at which your order executes in the marketplace, which may be different from the price at which the security or option is trading when your order is entered into our system.

Transactions and Settlements. All orders for the purchase and/or sale of securities and/or other property will be authorized by you and executed with the understanding that an actual purchase or sale is intended and that it is your intention and obligation, in every case, to deliver certificates to cover any and all sales or to pay for transactions upon WFSCFS' demand. If WFS CFS makes a sale of any securities and/or other property at your direction or if you fail to deliver to WFS CFS any securities and/or other property that WFS CFS has sold at your direction, WFS CFS is authorized to borrow or otherwise obtain the securities and/or other property necessary to enable WFS CFS to make delivery, and you agree to be responsible for any cost or loss WFS CFS may incur, including the cost of borrowing and/or obtaining the securities and/or other property. You agree that WFS CFS is your agent to complete all such transactions and is authorized to make advances and expend monies as required. Though orders are usually routed to the marketplace within seconds, certain orders, at CFS' or WFS' sole discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also understand that you will receive the price at which your order executes in the marketplace, which may be different from the price at which the security or option is trading when your order is entered into our system. 9.