Common use of Authorization to Apex Clearing Clause in Contracts

Authorization to Apex Clearing. You understand and acknowledge that when you submit an Order through the Platform to purchase cryptocurrency, you are authorizing and instructing Apex Crypto to instruct Apex Clearing to accept such instruction to transfer the funds required for the Cryptocurrency Transaction from your Brokerage Account to either (i) an account held at Apex Clearing in the name of Apex Crypto; or (ii) an external bank account in the name of Apex Crypto, (each such account, an “Entity Account”). You understand and acknowledge that your Account is provided by Apex Crypto and is separate from your Brokerage Account. You further understand and acknowledge that Apex Crypto is not under the control of Apex Clearing, that any Entity Account is outside of Apex Clearing’s possession and control, and that Apex Clearing does not have the ability to monitor or recall the funds after such funds have been wired or transferred to an Entity Account. You further understand and acknowledge that, upon transfer from your Brokerage Account, the funds will no longer be provided protection under the Federal Deposit Insurance Corporation (“FDIC”) or the Securities Investor Protector Corporation (“SIPC”). You agree to hold Apex Clearing harmless with respect to Apex Clearing accepting and following your instructions to transfer funds from your Brokerage Account to an Entity Account. You hereby authorize and instruct Apex Clearing to accept all instructions to deposit funds into your Brokerage Account from an Entity Account at the sole instruction of Apex Crypto. You understand that you may revoke this authorization at any time by terminating your Apex Crypto Account. You understand and acknowledge that cryptocurrencies in your Apex Crypto Account are not held at Apex Clearing and that Apex Clearing is not involved in the purchase, sale, execution, custody, or trading of cryptocurrencies, and only takes instructions regarding transferring funds as described in this User Agreement.

Authorization to Apex Clearing. You understand and acknowledge that when you submit an Order through the Platform to purchase cryptocurrency, you are authorizing and instructing Apex Bakkt Crypto to instruct Apex Clearing to accept such instruction to transfer the funds required for the Cryptocurrency Transaction from your Brokerage Account to either (i) an account held at Apex Clearing in the name of Apex Bakkt Crypto; or (ii) an external bank account in the name of Apex Bakkt Crypto, (each such account, an “Entity Account”). You understand Immediately upon the acceptance of a marketable order to purchase virtual currency, your Bakkt Crypto account will be credited in an amount equal to such received funds and acknowledge that such credit may not be revoked by Bakkt Crypto absent fraud, or willful misconduct on your Account part. Bakkt Crypto is provided by obligated to provide purchased cryptocurrency regardless of whether Apex Crypto and is separate from your Brokerage AccountClearing actually transmits the funds. You further understand and acknowledge that Apex Bakkt Crypto is not under the control of Apex Clearing, that any Entity Account is outside of Apex Clearing’s possession and control, and that Apex Clearing does not have the ability to monitor or recall the funds after such funds have been wired or transferred to an Entity Account. You understand and acknowledge that your Account is provided by Bakkt Crypto and is separate from your Brokerage Account. You further understand and acknowledge that, upon transfer from your Brokerage Account, the funds will no longer be provided protection under the Federal Deposit Insurance Corporation (“FDIC”) or the Securities Investor Protector Corporation (“SIPC”). You agree to hold Apex Clearing harmless with respect to Apex Clearing accepting and following your instructions to transfer funds from your Brokerage Account to an Entity Account. You hereby authorize and instruct Apex Clearing to accept all instructions to deposit funds into your Brokerage Account from an Entity Account at the sole instruction of Apex Bakkt Crypto. You understand that you may revoke this authorization at any time by terminating your Apex Bakkt Crypto Account. You understand and acknowledge that cryptocurrencies in your Apex Bakkt Crypto Account are not held at Apex Clearing and that Apex Clearing is not involved in the purchase, sale, execution, custody, or trading of cryptocurrencies, and only takes instructions regarding transferring funds as described in this User Agreement.