Common use of Acknowledgement of short sales Clause in Contracts

Acknowledgement of short sales. By electing to participate in the SYEP, you acknowledge that, if IBIE on-lends Loaned Securities to its affiliates or an unrelated third party participant in the securities lending market, it is likely that such recipient of those Loaned Securities will use those Loaned Securities to settle or facilitate short sales of those Loaned Securities. Such short-selling may negatively affect the value of the Loaned Securities and therefore your portfolio. Short-selling of securities is commonly motivated by an expectation that the market price of those securities will fall and short-selling may contribute to a decline in the market price of those securities.

Acknowledgement of short sales. By electing to participate in the SYEP, you acknowledge that, if IBIE on-lends Loaned Securities to its affiliates or an unrelated third third-party participant in the securities lending market, it is likely that such recipient of those Loaned Securities will use those Loaned Securities to settle or facilitate short sales of those Loaned Securities. Such short-selling may negatively affect the value of the Loaned Securities and therefore your portfolio. Short-selling of securities is commonly motivated by an expectation that the market price of those securities will fall fall, and short-selling may contribute to a decline in the market price of those securities.