3
Shared Docs
3
Same-Page
5 / 3
Mentions
er of such right or any other right granted hereunder. DBSI retains the right to delegate to its agent, including its clearing agent. Pershing LLC (Pershing). one or more of MSC's rights or obligations under this Agracmont without notice to Client. 2. Cash Account. 0651 will classify each Account as a ca
roperty on margin or otherwise, and (ii) any other instructions concerning Account(s). Client further understands that the contract between DOS! and Pershing. and the services rendered thereunder, are not io:ended to create a joint venture, partnership or other form of business organization of any kind.
have the discretion to determine which Securities and Other Property to apply for the purposes of the foregoing. With respect to the Pershing Lien, Pershing may, at any time and without prior notice, sell, transfer; release, exchange, settle or otherwise dispose of or deal with any or ell Margin Collater
s of foreign banks l"Foreign Securities"), Client acknowledges and understands that: (a) Foreign Securities are, in most cases, not registered with the Securities and Exchange Commissinn or Sated on any U.S. securities exchange. (b) Foreign Securities, particularly those of issuers in the so-called "emerging markets" are often illiqu
ther Property now or hereafter held, carried or maintained by or in the possession of DBSI that have not been fully paid for may be lent to OBSI, to Pershing or to others, and may be pledged• repledged, hypothecated or rehypothecated without notice to Client, either separately or in common with other Secu
s of foreign banks ("Foreign Securities"), Client acknowledges and understands that: (a) Foreign Securities are, In most cases, not registered with the Securities and Exchange Commissinn or listed on any U.S. securities exchange, (b) Foreign Securities, particularly those of issuers in the so-called "emerging markets" are often illiq
ther Property now or hereafter held, carried or maintained by or in the possession of DBSI that have not been fully paid for may be lent to OBSI, to Pershing or to others, and may be pledged• repledged, hypothecated or rehypothecated without notice to Client, either separately or in common with other Secu
s of foreign banks ("Foreign Securities"), Client acknowledges and understands that: (a) Foreign Securities are, In most cases, not registered with the Securities and Exchange Commissinn or listed on any U.S. securities exchange, (b) Foreign Securities, particularly those of issuers in the so-called "emerging markets" are often illiq
Entities connected to both Pershing and the Securities and Exchange Commissinn

United States
LOCATION
Federal Reserve
ORGANIZATIONDEISI
ORGANIZATIONForeign Securities which Client
ORGANIZATIONForeign Securities
ORGANIZATIONClionts
ORGANIZATIONSecurities anti Other Property
ORGANIZATIONDFISI
ORGANIZATIONen Affiliate
ORGANIZATION