ALLOCATION AND ASSUMPTION OF RISK. 13. (1) Subject to clause 13(2) below, in making any investment in a Security(ies) through JMMB, the client takes, bears and assumes all risks (including, without limitation, the credit risk, liquidity risk, pricing risk, market risk and, where applicable, exchange rate risk) associated with such Security(ies), and the client relies entirely on the client's own due diligence and assessment of the creditworthiness of the issuer and/or third party guarantor of such Security(ies), the liquidity and price volatility of such Security(ies), and the nature of the market (if any) in which such Security(ies) is traded. Accordingly, JMMB does not and shall in no event whatsoever be deemed to guarantee or otherwise stand as surety for the payment obligations of:
ALLOCATION AND ASSUMPTION OF RISK. 13. (1) Subject to clause 13(2) below, in making any investment in a Security(ies) through JMMBTT, the client takes the full credit risk and market risk associated with such Security(ies) and relies entirely on the client's own due diligence and assessment of the creditworthiness of the issuer and/or third party guarantor of such Security(ies). Accordingly, JMMBTT does not and shall in no event whatsoever be deemed to guarantee or otherwise stand as surety for the payment obligations of:
ALLOCATION AND ASSUMPTION OF RISK
