Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.
Appears in 4 contracts
Sources: Fully Disclosed Clearing Agreement, Fully Disclosed Clearing Agreement (Gleacher & Company, Inc.), Fully Disclosed Clearing Agreement (Summit Financial Services Group Inc)
Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.
Appears in 3 contracts
Sources: Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.), Fully Disclosed Clearing Agreement (American Portfolios Holdings Inc)
Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to agre▇▇ ▇▇ cooperate with Pershing ▇▇▇▇▇▇ng in complying with and obtaining ob▇▇▇▇▇▇▇ underlying collateral in response to such calls.
Appears in 1 contract
Sources: Fully Disclosed Clearing Agreement (American Portfolios Holdings Inc)
Underlying Collateral Calls. After the initial underlying collateral for an extension of nonpurpose non-purpose credit has been received, subsequent underlying collateral calls may be made by Pershing at its discretion. Pershing shall calculate the maintenance requirement and notify Broker of any amounts due. Broker shall be responsible for issuing the underlying collateral call to its customer and obtaining the amount due directly from Broker’s 's customer. If Broker fails to take the appropriate action, Pershing reserves the right to collect the amount due directly from Broker’s 's customer. Broker agrees to cooperate with Pershing in complying with and obtaining underlying collateral in response to such calls.
Appears in 1 contract
Sources: Fully Disclosed Clearing Agreement (Southern Trust Securities Holding Corp)