Common use of Adjustment of fractions Clause in Contracts

Adjustment of fractions. When carrying out corporate actions (e.g. combining several shares into one share or exchanging shares), fractions of securities may arise in the Customer's custody account. Provided that a realization is possible and the fractions are not fund shares, Trade Republic will combine the fractions of all affected Customers and sell them at a market place selected by Trade Republic at a fair market price. Trade Republic will credit the portion of the proceeds attributable to the Customer after deducting any fee agreed with the Customer. To the extent that fractions of securities are not realizable, the custody account of the Customer may be closed only after the Customer has issued an instruction to Trade Republic for the cancellation of securities with respect to such fractions.

Adjustment of fractions. When carrying out corporate actions (e.g. combining several shares into one share or exchanging shares), fractions of securities may arise in the Customer's custody account. Provided that a realization is possible and the fractions are not fund shares, Trade Republic will combine the fractions of all affected Customers and sell them at a market place selected by Trade Republic at a fair market price. Trade Republic will credit the portion of the proceeds attributable to the Customer after deducting any fee agreed with the Customer. To the extent that fractions of securities are not realizable, the custody account Custody Account of the Customer may be closed only after the Customer has issued an instruction to Trade Republic for the cancellation of securities with respect to such fractions.