subject to any indebtedness - Satzverständnis

15:45 May 2, 2018
English to German translations [Non-PRO]
Bus/Financial - Investment / Securities
English term or phrase: subject to any indebtedness - Satzverständnis
"Without abrogating any of the Brokers‘s rights under any other portion of this Agreement and ***subject to any indebtedness *** of the Customer to the Broker, the Customer is entitled, upon appropriate demand, to receive physical delivery of fully paid securities in the Customer’s account."

A standard clause in a customer agreement between an investment fund and its clients.

To me "subject to" reads as if indebtedness was a requirement for a customer's right to receive physical delivery.
But shouldn't it be the other way round? Only if the customer was not indebted to the broker, the customer could receive delivery?

Thank you for your help.
Bettina Rittsteuer
Local time: 10:15

Discussion entries: 2


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