Common use of Authority to Sell Clause in Contracts

Authority to Sell. 8.1. The Client authorises Galaxy International Securities to sell or arrange for the sale of any quantity of China Connect Securities held on the Client’s behalf at such price and on such terms as Galaxy International Securities may determine in its absolute discretion if: (a) Galaxy International Securities receives an instruction directly or indirectly from a China Connect Market Operator or other Stock Connect Authority requiring the Client to sell and liquidate any specified China Connect Securities; (b) Galaxy International Securities is of the view that the Client is in breach or may be in breach of any Applicable Requirements; or (c) Galaxy International Securities has held on the Client’s behalf such China Connect Securities for a period longer than Galaxy International Securities’ prescribed period as notified to the Client from time to time.