Common use of Client Default Clause in Contracts

Client Default. 客戶違約 5.1 If the Client fails to comply with any of the Client’s obligations and/or to meet the Client’s liabilities under this Stock Options Trading Agreement, including failure to provide Collateral, in addition to actions the Company may take under Clause 4 of the Client Agreement(s), the Company is further authorized to: 如果客戶未能根據本股票期權交易協議履行本身的任何責任和/或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第4條採取行動外，本公司還有權： (i) decline to accept further instructions from the Client in respect of Stock Options Trading and US Stock Options Trading; 拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一步指示﹔ (ii) close out some or all of the Client Contracts with the Company; 將客戶與本公司之間的部分或所有客戶合約平倉﹔ (iii) enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which the Company is exposed in relation to the Client’s default; or 訂立合約或進行證券、期貨或商品的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或 (iv) dispose of Collateral, and apply the proceeds thereof to discharge the Client’s liabilities to the Company. 處置保證金，並將該等處置所獲得收益清償客戶欠本公司的債務。 Any proceeds remaining after discharge of all the Client’s liabilities to the Company shall be paid to the Client. 客戶欠本公司的一切債務清償後的任何收入餘額應付予客戶。 5.2 The Client agrees to pay interest on all overdue balances in its Stock Options Account (including interest arising after a judgement debt is obtained against the Client) at such rates and on such other terms as the Company may have notified the Client from time to time. 客戶同意按照本公司不時通知客戶的息率和其他條款，支付股票期權帳戶內所有未清償逾期欠款之利息﹙包括客戶被判定應償債項後所招致的利息﹚。

Client Default. 客戶違約 5.1 4.1 If the Client fails to comply with any of the Client’s obligations and/or to meet the Client’s liabilities under this Stock Options Trading Agreement, including failure to provide Collateral, in addition to actions the Company may take under Clause 4 of the Client Agreement(s), the Company is further authorized to: 如果客戶未能根據本股票期權交易協議履行本身的任何責任和/或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第4條採取行動外，本公司還有權： (i) decline to accept further instructions from the Client in respect of Stock Options Trading and US Stock Options Trading; 拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一步指示﹔拒絕接受客戶就在交易所交易的股票期權業務給予的進一步指示﹔ (ii) close out some or all of the Client Contracts with the Company; 將客戶與本公司之間的部分或所有客戶合約平倉﹔ (iii) enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which the Company is exposed in relation to the Client’s default; or 訂立合約或進行證券、期貨或商品的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或 (iv) dispose of Collateral, and apply the proceeds thereof to discharge the Client’s liabilities to the Company. 處置保證金，並將該等處置所獲得收益清償客戶欠本公司的債務。 Any proceeds remaining after discharge of all the Client’s liabilities to the Company shall be paid to the Client. 客戶欠本公司的一切債務清償後的任何收入餘額應付予客戶。 5.2 4.2 The Client agrees to pay interest on all overdue balances in its Stock Options Account (including interest arising after a judgement debt is obtained against the Client) at such rates and on such other terms as the Company may have notified the Client from time to time. 客戶同意按照本公司不時通知客戶的息率和其他條款，支付股票期權帳戶內所有未清償逾期欠款之利息﹙包括客戶被判定應償債項後所招致的利息﹚。

Client Default. 客戶違約 5.1 4.1. If the Client fails to comply with any of the Client’s obligations and/or to meet the Client’s liabilities under this Stock Options Trading Agreement, including failure to provide Collateral, in addition to actions the Company may take under Clause 4 of the Client Agreement(s), the Company is further authorized to: 如果客戶未能根據本股票期權交易協議履行本身的任何責任和/或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第4條採取行動外，本公司還有權或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第 4 條採取行動外，本公司還有權： (i) decline to accept further instructions from the Client in respect of Stock Options Trading and US Stock Options Trading; 拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一步指示﹔拒絕接受客戶就在交易所交易的股票期權業務給予的進一步指示﹔ (ii) close out some or all of the Client Contracts with the Company; 將客戶與本公司之間的部分或所有客戶合約平倉﹔ (iii) enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which the Company is exposed in relation to the Client’s default; or 訂立合約或進行證券、期貨或商品的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或訂立合約或進行證券的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或 (iv) dispose of Collateral, and apply the proceeds thereof to discharge the Client’s liabilities to the Company. 處置保證金，並將該等處置所獲得收益清償客戶欠本公司的債務。 Any proceeds remaining after discharge of all the Client’s liabilities to the Company shall be paid to the Client. 客戶欠本公司的一切債務清償後的任何收入餘額應付予客戶。 5.2 4.2. The Client agrees to pay interest on all overdue balances in its Stock Options Account (including interest arising after a judgement debt is obtained against the Client) at such rates and on such other terms as the Company may have notified the Client from time to time. 客戶同意按照本公司不時通知客戶的息率和其他條款，支付股票期權帳戶內所有未清償逾期欠款之利息﹙包括客戶被判定應償債項後所招致的利息﹚。

Client Default. 客戶違約 5.1 If 客戶同意就任何因違反本合約的客戶責任所衍生的損失或支出，包括向客戶收取債務而合理地產生及撤銷股票期權帳戶的費用作出補償。 The Client agrees to indemnify CESHK, its officers (including directors), employees and agents, against all losses and expenses resulting from breach of the Client’s Obligation under this Agreement, including costs reasonably incurred in collecting debts from the Client, and in closing the Stock Options Account. 在不影響本合约 C 部一般條款第 13 款之情況下，如客戶並無遵照本合約 G 部列明的責任及／或義務，包括保證金要求，及/ 或以任何方式違反期權交易 規則下客戶應遵守之責任，光大證券(香港)可根據期權交易規則： Without prejudice to Clause 13 in Section C of the General Terms, if the Client fails to comply with any of the Client’s obligations and/or his Obligations and/ or to meet the Client’s his liabilities under this Stock Options Trading AgreementPart G, including failure to provide CollateralMargin, and/or in addition to actions any way commits default of Client’s obligations under the Company may take under Clause 4 of the Client Agreement(s)Options Trading Rules, the Company is further authorized to: 如果客戶未能根據本股票期權交易協議履行本身的任何責任和/或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第4條採取行動外，本公司還有權：CESHK may: (ia) 拒絕接受客戶發出的交易所買賣股票期權指示； decline to accept further instructions Instructions from the Client in respect of Stock Exchange Traded Options Trading and US Stock Options Trading; 拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一步指示﹔Business; (iib) 將期權帳戶之全部或任何持倉平倉； close out some or all of the Client’s Client Contracts with the Company; 將客戶與本公司之間的部分或所有客戶合約平倉﹔CESHK; (iiic) 進行證券、期貨或商品的交易以履行交收責任或對沖光大證券(香港)因客戶的失責而蒙受的損失； enter into Contractscontracts, or into transactions in securitiesSecurities, futures or commoditiesCommodities, in order to settle obligations arising or to hedge the risks to which the Company CESHK is exposed in relation to the Client’s defaultfailure; or 訂立合約或進行證券、期貨或商品的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或or (ivd) 接管帳戶內之任何餘額，以抵銷任何客戶的債務；或 dispose of CollateralMargin, and apply the proceeds thereof to discharge the Client’s liabilities to the Company. 處置保證金，並將該等處置所獲得收益清償客戶欠本公司的債務CESHK; or (e) 處置任何或所有為客戶持有或代表客戶持有之證券，以抵銷客戶之任何責任及行使任何光大證券(香港)享有與客戶有關之抵銷權利。 Any proceeds remaining after discharge dispose of any or all the Client’s liabilities securities held for or on behalf of Client in order to set off any of its obligations and to exercise any rights of set off CESHK may have in relation to the Company shall be paid to the Client. 客戶欠本公司的一切債務清償後的任何收入餘額應付予客戶。 5.2 The Client 客戶債務經抵銷後，帳戶內的任何餘額都需支付予客戶。 客戶同意支付按光大證券(香港)不時通知客戶之息率及其他條款計算之所有逾期付款之利息(包括獲得針對客戶的判定債項後產生之利息)。光大證券(香港)可(及現獲授權)不時並無須事先通知從光大證券(香港)處開立之任何帳戶或客戶在其他一個或多個集團成員處的任何 一個或多個帳戶內扣除客戶按本 5.3 條款應付之任何利息及客戶承諾應光大證券(香港)之要求立即作出及/或簽署光大證券(香港)可能隨時及不時要求之行動及/或文件，以使每一項該等扣除全面生效。 Client agrees to pay interest on all overdue balances in its Stock Options Account (including interest arising after a judgement judgment debt is obtained against the Client) at such rates and on such other terms as the Company may have CESHK has notified to the Client from time to time. 客戶同意按照本公司不時通知客戶的息率和其他條款，支付股票期權帳戶內所有未清償逾期欠款之利息﹙包括客戶被判定應償債項後所招致的利息﹚。Client agrees that CESHK shall be entitled (but not be obliged), at any time and from time to time, without prior notice, to debit any Account with CESHK and/or any other account(s) of Client with other members of the Group with any interest due and payable in accordance with this Clause 5.3 and Client undertakes to, immediately upon demand by CESHK, do such act(s) and/or execute such document(s) as may be required by CESHK at any time and from time to time in order to give full effect to each such debit. 就客戶發出的指示而言，客戶須於光大證券(香港)指定的時間內支付期權金、佣金、其他費用及已通知客戶的有關聯交所徵費。光大證券國際證券可能會從客戶的期權帳戶或任何以客戶姓名於光大證券(香港)及/或光大期貨(香港)開立的帳戶扣除有關期權金、佣金、收費及徵費。 In respect of all contracts effected on the Client’s Instructions, the Client will pay CESHK, within the time period notified by CESHK, premium, commission and any other charges, and applicable levies imposed by the Stock Exchange, as have been notified to the Client. CES International Group may deduct such premium, commissions, charges and levies from the Options Account or any other Accounts in Client’s name maintained with CESHK and/or CEFFHK. 光大證券(香港)可隨時向客戶訂立未平倉合約數目或交收責任的上限。 CESHK may place limits on the open positions or delivery obligations that the Client may have at any time. 客戶確認知道： The Client acknowledges that: (a) 光大證券(香港)可能會被要求將客戶合約平倉以符合聯交所訂明的持倉上限； CESHK may be required to close out options contracts to comply with position limits imposed by the Stock Exchange; and (b) 如光大證券(香港)未能履行責任，按聯交所的失責處理程序可能會導致客戶合約被平倉或客戶合約被轉至另一期權交易所參與者。 Exchange Participant. 光大證券(香港)可同意就客戶的指示將光大證券(香港)與客戶訂立的合約，根據期權交易規則被客戶與另一期權交易所參與者訂立的合約取代。 CESHK may agree, upon the Client’s request, to replace the Client Contracts between CESHK and the Client, in accordance with the Options Trading Rules, with Client Contracts between the Client and another Options Exchange Participant. 就行使客戶合約或客戶合約被行使而言，客戶需應光大證券(香港)通知根據標準合約所訂明履行其交收責任。 On exercise of a Client Contract by or against the Client, the Client shall perform his delivery Obligations under the relevant contract, in accordance with the Standard Contract and as notified by CESHK. 當客戶持有須申報之持倉量(按證券及期貨(合約限量及須申報的持倉量)規則(香港法例第 571Y 章)或其他適用之規則或規例中之定 義)，各戶須負責通知聯交所或其他有關規管機構。 The Client shall be responsible for notifying the Stock Exchange or other relevant Regulators in the event that the Client holds a reportable position (as defined in the Securities and Futures (Contract Limited and Reportable Positions) Rules (Cap. 571Y of the Laws of Hong Kong) or other applicable rules and regulations). 客戶確認知道雖然所有期權合約交易乃經聯交所執行，光大證券(香港)乃會作為當事人與客戶訂立合約。 The Client acknowledges that, although all options contracts are to be executed on the Stock Exchange, the Client and CESHK shall contract as principals under Client Contracts. 客戶確認，在遵循證券及期貨條例及其他法律之前提下，光大證券(香港)就有關在交易之任何期權交易合 約，採取與客戶指令相反之倉盤，不論是為了本身之帳戶、任何集團成員之帳戶或其等職員、僱員或代表，或光大證券(香港)或任何集團成員之其他客戶之帳戶而 作出的；惟有關交易應根據聯交所的規則、規例及 程序透過聯交所的設施、或根據任何其他商品、期貨、期權交易所的規則或規例 透過其設施具競爭性地予 以執行。 The Client acknowledges that, subject to the provisions of the Securities and Futures Ordinance and any other applicable laws, CESHK may take the opposite position to Client’s order in relation to any options contract, whether on CESHK’s own account or for the account of any member of the CES International Group or their respective officers, employees or representatives or other clients of CESHK or any members of CES International Group, provided that the trading is executed competitively on or through the facilities of the Stock Exchange in accordance with the Governing Rules and procedures of the Stock Exchange or the facilities of any other Exchange in accordance with the Governing Rule of such other Exchange. 在不影響本合约 C 部一般條款第 13 款之情況下，凡光大證券(香港)行使任何權利，包括：按本部之第 5.2條或第 6.3 條把任何在客戶期權帳戶內之持 倉平倉或過戶；或按本部之其他任何條款對光大證券(香港)或任何集團成員代表客戶或為客戶維持之所有或任何持倉平倉或沽出或 買入商品；該撤銷或過戶或平倉或沽出或買入(在本 6.9 條稱為「交易」；可在任何以上交易通常會交易的文易所或市場執行；或以光大證券(香港)決定之方式執行。客戶同意，光大證券(香港)並不負責任何關於交易而招致之損失。在不影響以上文之情況下，客戶不能 就交易方式及時間而向光大證券(香港)提出申索。客戶理解在任何情況下，光大證券(香港)均可行使撤銷、平倉或過戶之權利，而毋須 提出要求或通知。有關撤銷、平倉或過戶之事前要求、催繳及通知，將不會被當作是光大證券(香港)放棄以上提述之權利。 Without prejudice to clause 13 in Section C of the General Terms, when CESHK exercise any of its rights under clause 5.2 or 6.3 of this Part by closing or giving-up all or any position in the Options Account or under any other clauses in this Part by closing out all or any positions or sale or purchase of Securities and/or Commodities and/or Future Contracts and/or options contracts in any Accounts which CESHK or any member of the CES International Group may carry on Client’s behalf or maintain with the Client, such closing or giving-up or closing out or sale or purchase (in this clause 6.9 referred to as “the transactions”) may be made on any Exchange or market where the transactions are usually transacted or in such manner as shall be decided by CESHK. The Client agrees that in respect of such transactions, CESHK shall not be liable for any resulting loss. Without prejudice to the foregoing, the Client shall not make any claim against CESHK concerning the manner or timing of the transactions. The Clients understands that in all cases, CESHK has the right to exercise closing, closing out or giving up without demand or notice. A prior demand or call or notice of such closing or giving up shall not be considered as a waiver of CESHK’ above-mentioned rights. 客戶確認知道，期權系統僅會在到期日當天為現貨合約內每一個根據當時聯交所期權結算所訂下的價內百分率或以上之未平倉長倉持 倉自動啟動行使要求。客戶可根據聯交所期權結算所結算運作程序於到期日的系統截止時間前向光大證券(香港)發出撤回「自動啓動行使要求」。 The Client acknowledges that on the expiry day and only on the expiry day, the Options System will automatically generate exercise instructions in respect of all open long positions which are in-the-money by or above the percentage prescribed by the SEOCH from time to time. The Client may instruct CESHK to override such an “automatically generated exercise instruction” before the system closure on the expiry day in accordance with the operational clearing procedures of the SEOCH.

Client Default. 客戶違約 5.1 6.1 If the Client fails to comply with any of the Client’s obligations and/or to meet the Client’s liabilities under this Stock Options Trading Agreement, including failure to provide Collateral, in addition to actions the Company may take under Clause 4 5 of the Client Agreement(s), the Company is further authorized to: 如果客戶未能根據本股票期權交易協議履行本身的任何責任和/或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第4條採取行動外，本公司還有權或償還客戶的任何債務，包括未提供抵押品，本公司除可按照客戶協議中第 5 條採取行動外，本公司還有權： (i) decline to accept further instructions from the Client in respect of Stock Options Trading and US Stock Options Trading; 拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一步指示﹔拒絕接受客戶就在交易所交易的股票期權業務及美國股票期權業務給予的進一 步指示﹔ (ii) close out some or all of the Client Contracts with the Company; 將客戶與本公司之間的部分或所有客戶合約平倉﹔ (iii) enter into Contracts, or into transactions in securities, futures or commodities, in order to settle obligations arising or to hedge the risks to which the Company is exposed in relation to the Client’s default; or 訂立合約或進行證券、期貨或商品的交易，以履行所產生的責任或對沖本公司因客戶未有履行責任而須承擔的風險﹔或 (iv) dispose of Collateral, Collateral and apply the proceeds thereof to discharge the Client’s liabilities to the Company. 處置保證金，並將該等處置所獲得收益清償客戶欠本公司的債務。 Any proceeds remaining after discharge of all the Client’s liabilities to the Company shall be paid to the Client. 客戶欠本公司的一切債務清償後的任何收入餘額應付予客戶。 5.2 6.2 The Client agrees to pay interest on all overdue balances in its Stock Options Account (including interest arising after a judgement debt is obtained against the Client) at such rates and on such other terms as the Company may have notified the Client from time to time. 客戶同意按照本公司不時通知客戶的息率和其他條款，支付股票期權帳戶內所有未清償逾期欠款之利息﹙包括客戶被判定應償債項後所招致的利息﹚。