Common use of Cash and Investments Clause in Contracts

Cash and Investments. 1. All monies received by the Product Provider in respect of your Platform Products will be held by the Product Provider in a Client Money Bank Account. Client Money Bank Accounts are designated as trust accounts and are segregated from the Product Provider’s own funds in accordance with the FCA Rules on Client Money. Client Money Bank Accounts are pooled accounts with one or more banks. In the event of a bank’s failure, your claim will be for a share of the cash held in all pooled accounts at the bank. 2. When considering where a Client Money Bank Account should be held, the Product Provider will exercise all due skill, care and diligence and will periodically review the adequacy and appropriateness of any bank or credit institution where Client Money is deposited and of the arrangements for holding Client Money. It is important to note that the Product Provider is not responsible for any acts, omissions or default of a credit institution or bank chosen by it, only for taking care in its choice and monitoring of such banks or credit institutions. 3. Interest may be paid to the Product Provider by banks with which it holds deposit accounts on your behalf. Currently no interest will be paid to your Platform Product(s). If Interest becomes payable on any of your Platform Products, the rates of Interest will be disclosed to you and the Product Provider will (and you authorise the Product Provider to) deduct such charges as HMRC imposes from time to time on interest payments. The Product Provider will retain any differences between the interest received from the banks and the amounts paid to your Platform Product. 4. Dividends or other income received will be credited to your Platform Product on the day of receipt wherever practicable but no later than 10 Business Days after receipt. Any income received in the form of cash will be credited to your Platform Product. 5. Title to all investments, other than cash, are held by the Product Provider in a pooled investment (omnibus) account registered in the name of the Product Provider’s nominee or by an approved third party custodian. This means that individual client entitlements may not be identified by individual entries in the records of the nominee. If there is a shortfall following default by the nominee all client accounts will share proportionally in that shortfall. The Product Provider accepts no responsibility for the default or failure of a custodian or nominee. However, this does not limit the Product Provider’s liability to you for its own respective fraud, wilful default, or negligence. 6. Share certificates or other documents evidencing title to your ISA investments, which are not held electronically will be held in the name of the nominee. 7. The Product Provider will not be responsible for any loss (including loss of profit) in relation to, or diminution in value of, any investment: A. Acquired by the Product Provider at your request; or B. Not acquired by the Product Provider or not disposed of by the Product Provider in accordance with their rights under these Terms; or C. Disposed of by the Product Provider in accordance with these Terms unless such loss or diminution in value results from the Product Provider’s fraud, wilful misconduct, negligence or breach of regulatory duty or the fraud, wilful misconduct, negligence or breach of regulatory duty of any of their employees or agents. 8. The Product Provider will be entitled to dispose of any investment if in their reasonable opinion continued retention of such investment would be unlawful, contrary to the ISA Regulations or would impose tax or other costs on the Product Provider or expose them to liabilities which in each case they may not be able to meet from your Platform Product(s). 9. The Product Provider will be entitled to dispose of any investment if required to do so by the terms of any agreement to which it is a party. The Product Provider will make all reasonable endeavours to inform you of such an event in advance, where feasible. 10. Where investment income is received net into your ISA, the Product Provider will reclaim tax where permitted by, and in accordance with, current HMRC regulations. The Product Provider will reclaim UK tax paid on income, where appropriate, for the previous tax year ending on the 5th April. The Product Provider will reclaim by the 5th October. Any tax reclaim received will be credited to your Platform Product(s). 11. Where you have requested via Orca, in accordance with Section 8.14.4. of the General Terms, that you wish to receive annual report and accounts or other information issued to the holder of your Securities, the Product Provider will liaise with the Custodian and Orca to facilitate this request. 12. The Product Provider, where it has received instruction from Orca that you wish to participate in a corporate action in accordance with Section 8.14.5. of the General Terms, will use reasonable endeavours to facilitate the arrangements with the Custodian for you to participate as requested. The Product Provider will not be liable to you for any loss suffered if there is insufficient time to make such arrangements. 13. If you wish to benefit from a Corporate Action that entails the payment of cash from your Platform Product(s), e.g. a rights issue, it is your responsibility to ensure that there is sufficient Available Funds in your Platform Product to satisfy the payment when it falls due. 14. The Product Provider will not credit to you and it will be entitled to retain fractions of shares arising from Corporate Actions where it cannot reasonably allocate these to your Platform Product. 15. The Product Provider does not pass on shareholder perks and will not become involved in any shareholder interest groups. 16. The Product Provider will place an electronic copy of your quarterly statement detailing the investments and transactions on your Platform Product(s) in the relevant area of the Orca App.

Cash and Investments. 1. All monies received by the UK Product Provider in respect of your Platform Products will be held by the UK Product Provider in a Client Money Bank Account. Client Money Bank Accounts are designated as trust accounts and are segregated from the UK Product Provider’s own funds in accordance with the FCA Rules on Client Money. Client Money Bank Accounts are pooled accounts with one or more banks. In the event of a bank’s failure, your claim will be for a share of the cash held in all pooled accounts at the bank. 2. When considering where a Client Money Bank Account should be held, the UK Product Provider will exercise all due skill, care and diligence and will periodically review the adequacy and appropriateness of any bank or credit institution where Client Money is deposited and of the arrangements for holding Client Money. It is important to note that the UK Product Provider is not responsible for any acts, omissions or default of a credit institution or bank chosen by it, only for taking care in its choice and monitoring of such banks or credit institutions. 3. Interest may be paid to the UK Product Provider by banks with which it holds deposit accounts on your behalf. Currently no interest will be paid to your Platform Product(s). If Interest becomes payable on any of your Platform Products, the rates of Interest will be disclosed to you and the UK Product Provider will (and you authorise the UK Product Provider to) deduct such charges as HMRC imposes from time to time on interest payments. The UK Product Provider will retain any differences between the interest received from the banks and the amounts paid to your Platform Product. 4. Dividends or other income received will be credited to your Platform Product on the day of receipt wherever practicable but no later than 10 Business Days after receipt. Any income received in the form of cash will be credited to your Platform Product. 5. Title to all investments, other than cash, are held by the UK Product Provider in a pooled investment (omnibus) account registered in the name of the UK Product Provider’s nominee or by an approved third party custodian. This means that individual client entitlements may not be identified by individual entries in the records of the nominee. If there is a shortfall following default by the nominee all client accounts will share proportionally in that shortfall. The UK Product Provider accepts no responsibility for the default or failure of a custodian or nominee. However, this does not limit the UK Product Provider’s liability to you for its own respective fraud, wilful default, or negligence. 6. Share certificates or other documents evidencing title to your ISA investments, which are not held electronically will be held in the name of the nominee. 7. The UK Product Provider will not be responsible for any loss (including loss of profit) in relation to, or diminution in value of, any investment: A. Acquired by the UK Product Provider at your request; or B. Not acquired by the UK Product Provider or not disposed of by the UK Product Provider in accordance with their rights under these Termsterms; or C. Disposed of by the UK Product Provider in accordance with these Terms terms unless such loss or diminution in value results from the UK Product Provider’s fraud, wilful misconduct, negligence or breach of regulatory duty or the fraud, wilful misconduct, negligence or breach of regulatory duty of any of their employees or agents. 8. The UK Product Provider will be entitled to dispose of any investment if in their reasonable opinion continued retention of such investment would be unlawful, contrary to the ISA Regulations or would impose tax or other costs on the UK Product Provider or expose them to liabilities which in each case they may not be able to meet from your Platform Product(s). 9. The UK Product Provider will be entitled to dispose of any investment if required to do so by the terms of any agreement to which it is a party. The UK Product Provider will make all reasonable endeavours to inform you of such an event in advance, where feasible. 10. Where investment income is received net into your ISAISA for UK stocks, the UK Product Provider will reclaim tax where permitted by, and in accordance with, current HMRC regulations. The UK Product Provider will reclaim UK tax paid on income, where appropriate, for the previous tax year ending on the 5th April. The UK Product Provider will reclaim by the 5th October. Any tax reclaim received will be credited to your Platform Product(s). 11. Where you have requested via Orca, in accordance with Section 8.14.4. of the General Terms, that you wish to receive annual report and accounts or other information issued to the holder of your UK Securities, the UK Product Provider will liaise with the Custodian and Orca to facilitate this request. 12. The UK Product Provider, where it has received instruction from Orca that you wish to participate in a corporate action in accordance with Section 8.14.5. of the General Terms, will use reasonable endeavours to facilitate the arrangements with the Custodian for you to participate as requested. The UK Product Provider will not be liable to you for any loss suffered if there is insufficient time to make such arrangements. 13. If you wish to benefit from a Corporate Action that entails the payment of cash from your Platform Product(s), e.g. a rights issue, it is your responsibility to ensure that there is sufficient Available Funds in your Platform Product to satisfy the payment when it falls due. 14. The UK Product Provider will not credit to you and it will be entitled to retain fractions of shares arising from Corporate Actions where it cannot reasonably allocate these to your Platform Product. 15. The UK Product Provider does not pass on shareholder perks and will not become involved in any shareholder interest groups. 16. The UK Product Provider will place an electronic copy of your quarterly statement detailing the investments and transactions on your Platform Product(s) in the relevant area of the Orca App.

Cash and Investments. 1. All monies received by the Product Provider in respect of your Platform Products will be held by the Product Provider in a Client Money Bank Account. Client Money Bank Accounts are designated as trust accounts and are segregated from the Product Provider’s own funds in accordance with the FCA Rules on Client Money. Client Money Bank Accounts are pooled accounts with one or more banks. In the event of a bank’s failure, your claim will be for a share of the cash held in all pooled accounts at the bank. 2. When considering where a Client Money Bank Account should be held, the Product Provider will exercise all due skill, care and diligence and will periodically review the adequacy and appropriateness of any bank or credit institution where Client Money is deposited and of the arrangements for holding Client Money. It is important to note that the Product Provider is not responsible for any acts, omissions or default of a credit institution or bank chosen by it, only for taking care in its choice and monitoring of such banks or credit institutions. 3. Interest may be paid to the Product Provider by banks with which it holds deposit accounts on your behalf. Currently no interest will be paid to your Platform Product(s). If Interest becomes payable on any of your Platform Products, the rates of Interest will be disclosed to you and the Product Provider will (and you authorise the Product Provider to) deduct such charges as HMRC imposes from time to time on interest payments. The Product Provider will retain any differences between the interest received from the banks and the amounts paid to your Platform Product. 4. Dividends or other income received will be credited to your Platform Product on the day of receipt wherever practicable but no later than 10 Business Days after receipt. Any income received in the form of cash will be credited to your Platform Product. 5. Title to all investments, All investments other than cash, cash are held by the Product Provider in a pooled investment (omnibus) account registered in the name of the Product Provider’s nominee or by an approved third party custodian. This means that individual client entitlements may not be identified by individual entries in the records of the nominee. If there is a shortfall following default by the nominee all client accounts will share proportionally in that shortfall. The Product Provider accepts no responsibility for the default or failure of a custodian or nominee. However, this does not limit the Product Provider’s liability to you for its own respective fraud, wilful default, or negligence. 6. Share certificates or other documents evidencing title to Investments held within your ISA investmentsPlatform Products must not be used as a security for a loan, which are not held electronically will be held except as provided for in the name of the nomineeISA Regulations. 7. The Product Provider will not be responsible for any loss (including loss of profit) in relation to, or diminution in value of, any investment: A. Acquired by the Product Provider at your request; or B. Not acquired by the Product Provider or not disposed of by the Product Provider in accordance with their rights under these Terms; or C. Disposed of by the Product Provider in accordance with these Terms unless such loss or diminution in value results from the Product Provider’s fraud, wilful misconduct, negligence or breach of regulatory duty or the fraud, wilful misconduct, negligence or breach of regulatory duty of any of their employees or agents. 8. The Product Provider will be entitled to dispose of any investment if in their reasonable opinion continued retention of such investment would be unlawful, contrary to the ISA Regulations or would impose tax or other costs on the Product Provider or expose them to liabilities which in each case they may not be able to meet from your Platform Product(s). 9. The Product Provider will be entitled to dispose of any investment if required to do so by the terms of any agreement to which it is a party. The Product Provider will make all reasonable endeavours to inform you of such an event in advance, where feasible. 10. Where investment income is received net into your ISA, the Product Provider will reclaim tax where permitted by, and in accordance with, current HMRC regulations. The Product Provider will reclaim UK tax paid on income, where appropriate, for the previous tax year ending on the 5th April. The Product Provider will reclaim by the 5th October. Any tax reclaim received will be credited to your Platform Product(s). 11. Where you have requested via Orca, in accordance with Section 8.14.4. of the General Terms, that you wish to receive annual report and accounts or other information issued to the holder of your Securities, the The Product Provider will liaise with the Custodian and Orca to facilitate this request. 12. The Product Provider, where it has received instruction from Orca that you wish to participate in a corporate action in accordance with Section 8.14.5. of the General Terms, will use reasonable endeavours to facilitate promptly notify you of a Corporate Action notified to it by a company or third-party custodian where relevant. There may be instances when the arrangements Product Provider is not notified of a Corporate Action (or is not provided with sufficient information in time by them) and as a result are unable to pass on the Custodian for you details to participate as requestedyou. The In such circumstances, the Product Provider will not be liable to you for any loss suffered if there suffered. 12. When a mandatory Corporate Action (an event initiated by a public company that will bring an actual change to the securities - equity or debt - issued by the company) is insufficient time announced where no option is available to make such arrangementsshareholders and no firm payment date is known in advance, the Product Provider will notify you only after the new securities or cash have been received and credited to your Platform Product. 13. The Product Provider may, at its sole discretion, not make available to you all the choices that are offered by the company relating to the Corporate Action. 14. Orca at its discretion may notify you of a Corporate Action, but not obliged to do that. 15. If you wish to benefit from a Corporate Action that entails the payment of cash from your Platform Product(s), e.g. a rights issue, it is your responsibility to ensure that there is sufficient Available Funds in your Platform Product to satisfy the payment when it falls due. 1416. The Product Provider will not credit to you and it will be entitled to retain fractions of shares arising from Corporate Actions where it cannot reasonably allocate these to your Platform Product. 1517. The Product Provider does not pass on shareholder perks and will not become involved in any shareholder interest groups. 1618. The Product Provider will place an electronic copy of your quarterly statement detailing the investments and transactions on your Platform Product(s) in the relevant area of the Orca App.