Common use of DEFAULT AND DEFAULT REMEDIES Clause in Contracts

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off xxx under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different ditterent bid prices (in the case of Sells) or offer otter prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. (1. ) Each of the following constitutes an ‘“Event of Default’”: a. (a) your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes duein accordance with the conditions set out in Terms 8 and 9; b. (b) your failure to perform any obligation due to us; c. (c) where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealingsdealings with us; d. (d) if you are an individual, your death or your incapacity; e. (e) the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. (f) where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, Agreement is or becomes untrue; g. (g) you are or become unable to pay your debts as and when they fall due; (h) you have committed fraud or been deceitful in your dealings with us in relation to your account with us under this Agreement or another account with us or an Associated Company of ours; (i) you are in material or persistent breach of any term of this Agreement; (j) an ‘event of default’ (however described) under the applicable agreement in relation to your account with an Associated Company of ours or with us (other than under this Agreement); or h. (k) any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(217(2) to protect ourselves or all or any of our other clients. (2. ) If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior noticenotice take any one or any number of the below steps: a. (a) close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. (b) convert any Currency balances on your account into another Currency; c. (c) exercise rights of set-off underunder Terms 9(6), 9(7), 9(8) and 9(9), retain any funds, investments (including any interest or other payment payable thereon) or other assets due to youyou or held on your behalf, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. (d) close all or any of your accounts held with us of whatever nature, remit any monies owing to you subject to any rights of set-off under Terms 9(6), 9(7), 9(8) and 9(9) and any rights under this Term 13(210(2) and refuse to enter into further Transactions with you.; f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. (3. ) If we take any action under Term 13(210(2), you consent we will not be required may, where reasonably possible, take steps to advise notify you before exercising such rights. However, we are not obliged to do so and any failure on our part to take such steps will not invalidate the action taken by us under Term 10(2). (4. In ) If an Event of Default occurs we are not obliged to take any of the event of your failing to meet a demand for Margin or your being steps set out in excess of any credit or other limit placed on your accountTerm 10(2) and we may, we may at our discretion absolute discretion, allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. (5. ) You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(410(4), this may result in your you incurring further losses. (6. ) You acknowledge and agree that, in closing out Transactions under this Term 1310, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. (1. ) Each of the following constitutes an ‘“Event of Default’”: a. (a) your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes duein accordance with the conditions set out in Terms 15 and 16; b. (b) your failure to perform any obligation due to us; c. (c) where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealingsdealings with us; d. (d) if you are an individual, your death or your incapacity; e. (e) the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. (f) where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 9(1), 9(18), 20(1) and 1721(2), is or becomes untrue; g. (g) you are or become unable to pay your debts as and when they fall due; (h) you have committed fraud or been deceitful in your dealings with us in relation to your account with us under this Agreement or another account with us or an Associated Company of ours; (i) you are in material or persistent breach of any term of this Agreement; (j) an ‘event of default’ (however described) under the applicable agreement in relation to your account with an Associated Company of ours or with us (other than under this Agreement); or h. (k) any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(217(2) to protect ourselves or all or any of our other clients. (2. ) If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior noticenotice take any one or any number of the below steps: a. (a) close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. (b) convert any Currency balances on your account into another Currency; c. (c) exercise rights of set-off underunder Terms 16(6), 16(7), 16(8) and 16(9), retain any funds, investments (including any interest or other payment payable thereon) or other assets due to youyou or held on your behalf, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. (d) close all or any of your accounts held with us of whatever nature, remit any monies owing to you subject to any rights of set-off under Terms 16(6), 16(7), 16(8) and 16(9) and any rights under this Term 13(217(2) and refuse to enter into further Transactions with you; and (e) terminate this Agreement in accordance with Term 28(4). f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. (3. ) If we take any action under Term 13(217(2), you consent we will not be required may, where reasonably possible, take steps to advise notify you before exercising such rights. However, we are not obliged to do so and any failure on our part to take such steps will not invalidate the action taken by us under Term 17(2). (4. In ) If an Event of Default occurs we are not obliged to take any of the event of your failing to meet a demand for Margin or your being steps set out in excess of any credit or other limit placed on your accountTerm 17(2) and we may, we may at our discretion absolute discretion, allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. (5. ) You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(417(4), this may result in your you incurring further losses. (6. ) You acknowledge and agree that, in closing out Transactions under this Term 1317, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 118.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or that you are in material breach of any of your obligations to us whether under the Account Agreement or under any Associated Company of ours immediately other agreement; (b) if you fail to make any payment or any delivery to us when it becomes due; b. your failure to perform any obligation due to us(c) where you are a natural person, if you die or become of unsound mind; c. where any Transaction or combination (d) an Act of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets affiliate(s). For the purpose of this Clause only, affiliates means, any entity controlled, directly or indirectly, by you or that directly or indirectly controls you. Whereby controlling means ownership of a majority of the voting power of either you or the entity you are controlling; (e) if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (a) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (b) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or (c) any person or group of persons (whether in one or more related transactions) is granted directly or indirectly through contractual arrangements a substantial influence over your business; (g) any event which we reasonably consider could result in the continuation of these Terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) any consent, authorisation or board resolution required by you (being a corporation or a partnership) to enter into the Account Agreement being wholly or partly revoked, suspended, terminated or ceasing to remain in full force and effect; (j) an admission by you that you are unable to, or intend not to, perform any of your obligations under the Account Agreement; or h. (k) the occurrence of an event of default, termination event or other similar event (howsoever described) under any other circumstance where agreement between you and us. 18.2. Upon the occurrence of an Event of Default, we reasonably believe that it is necessary or desirable may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions with or without notice: 2. If an Event (a) require you to close, or we may liquidate, any or all of Default occurs your Open Positions by a specified date and a specified price selected by us; (b) cancel any Orders on a date specified by us; (c) prohibit and prevent you from accessing or using your Account; (d) suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in relation to your account(sAccount; (e) vary your Margin Requirements; (f) reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) sell, charge or otherwise realise any or all of your Security Assets in such manner, at such time and to such person as we think fit and to apply the proceeds of sale in or towards discharge of your Liabilities and Secured Obligations, or call on any guarantee; (h) make appropriate deductions or credits on your Accounts with us us; (i) terminate the Account Agreement immediately with or in relation without notice with termination occurring on a specified date selected by us; (j) exercise our right of set-off; and/or (k) pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by you us instead of returning to your investments equivalent to those credited on your Account. 18.3. Where we terminate or liquidate an Open Position in accordance with an Associated Company of oursClause 18.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Where such amount is due from you, at such amount shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Margin Call Policy. 18.4. You authorise us to take any or all of the actions described in Clause 18.2 above at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation acknowledge that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required responsible for any consequences if we take such actions. You undertake that you will execute any documents and take any action as we may request in order to advise protect our rights under the Account Agreement or under any agreement you before exercising such rightsmay have entered into with us. 418.5. In For all purposes, including any legal proceedings, a certificate by any of our officers as to the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised realized or unrealised unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate prescribed by The Central Bank of the UAE. from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you your consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional marginmargin which will be treated as client money in accordance with section 14.1(a) (b), (c) (d) & (e) at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight right to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your you incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate of The Central Bank of the UAE from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-winding- up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of DefaultEVENT OF DEFAULT’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. for professional and market counterparty clients, where any Transaction or combination of Transactions or any realised realized or unrealised unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off xxx under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate prescribed by The Central Bank of the UAE. from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you your consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional marginmargin which will be treated as client money in accordance with section 14.1(a) (b), (c) (d) & (e) at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight right to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your you incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different ditterent bid prices (in the case of Sells) or offer otter prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate of The Central Bank of the UAE from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the 28.1 The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or any member of the ADSS Group or that you are in material ADSS Margin Terms of Business October 2016 breach of any of your obligations to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit member of the ADSS Group whether under these Terms or under any other limit placed on your dealingsagreement; d. (b) if you are an individual, your death fail to make any payment or your incapacityany delivery to us when due (including failure to remit funds necessary to enable us to take delivery under any Transaction on the first due date and failure to provide assets for delivery under any Transaction on the first due date); e. the initiation by (c) where you are a third party of proceedings for your bankruptcy (natural person, if you are die or become of unsound mind; (d) an individual) or for your winding-up or for the appointment Act of an administrator or receiver Insolvency occurring in respect of you or any of your assets Affiliates; (e) if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (i) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (ii) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or (iii) any person or group of persons (whether in one or more related transactions) is granted directly or in directly through contractual arrangements a substantial influence over your business. (g) any event which we reasonably consider could result in the continuation of these terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) an admission by you that you are unable to, or intend not to, perform any of your obligations under these Terms; or h. (j) the occurrence of an event of default, termination event or other similar event (howsoever described) under any other circumstance where agreement between you and us or any member of the ADSS Group. 28.2 Upon the occurrence of an Event of Default, we reasonably believe that it is necessary or desirable may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions: 2. If an Event (a) require you to close or liquidate any or all of Default occurs your Open Positions by a specified date selected by us; (b) close any Open Positions or cancel any Orders on a date specified by us and at a price specified by us; (c) prohibit and prevent you from accessing or using your Account; (d) suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in relation to your account(sAccount; (e) vary your Margin Requirements; (f) reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) sell any of your Security Assets; (h) sell or charge in any way any or all of your securities, assets and property which may from time to time be in our possession or under our control or the possession or control of any member of the ADSS Group or call on any guarantee; (i) make appropriate deductions or credits on your accounts with us or in relation any member of the ADSS Group; (j) terminate these Terms immediately with or without notice with termination occurring on a specified date selected by us; (k) exercise our right of set-off; and/or (l) pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by us or any member of the ADSS Group instead of returning to you investments equivalent to those credited on your Account. 28.3 Where we close, liquidate or reverse an Open Position or a Transaction in accordance with an Associated Company of oursthe above clause 28.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Such amount, at if it is due from you to us, shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Execution Policy. 28.4 You authorise us to take any or all of the actions described in clause 28.2 above at any time and without prior notice:notice to you and acknowledges that we will not be responsible for any consequences of our taking such actions. You undertake that you will execute any documents and take any action as we may request in order to protect our rights and those of the ADSS Group under the Terms or under any agreement you may have entered into with any member of the ADSS Group. a. close, part-close or amend all 28.5 If we exercise our right to dispose of any Security Asset or any of your Transactions at a Closing Level based on the then prevailing quotations other security, asset or prices property in the relevant markets oraccordance with clause 28.2 above, if none, at we will make such levels as we consider fair and reasonable and/or delete or place any Order sale on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off underbehalf, retain any funds, investments (including any interest or other payment payable thereon) or other assets due without notice to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying apply the proceeds of sale and such disposal in or towards discharging your obligations to us and/or any member of the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with youADSS Group. f. In case of death of the Account Holder28.6 For all purposes, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instanceincluding any legal proceedings, a certificate by any of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred our officers as to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or any member of the ADSS Group or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. for professional and market counterparty clients, where any Transaction or combination of Transactions or any realised realized or unrealised unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate prescribed by The Central Bank of the UAE. from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you your consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional marginmargin which will be treated as client money in accordance with section 14.1(a) (b), (c) (d) & (e) at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight right to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your you incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate of The Central Bank of the UAE from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the 18.1 The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or that you are in material breach of any of your obligations to us wheth- er under the Account Agreement or under any Associated Company of ours immediately other agreement; (b) if you fail to make any payment or any delivery to us when it becomes due; b. your failure to perform any obligation due to us(c) where you are a natural person, if you die or become of unsound mind; c. where any Transaction or combination (d) an Act of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets affiliate(s). For the purpose of this Clause only, affiliates means, any entity controlled, directly or indirectly, by you or that directly or indirectly controls you. Whereby controlling means ownership of a majority of the voting power of either you or the entity you are controlling; (e) if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (a) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (b) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or h. (c) any other circumstance where we reasonably believe that it person or group of persons (whether in one or more related transactions) is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us granted directly or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of indirectly through contractual arrangements a substantial influence over your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to usbusiness; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. (1. ) Each of the following constitutes an ‘“Event of Default’”: a. (a) your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes duein accordance with the conditions set out in Terms 14 and 15; b. (b) your failure to perform any obligation due to us; c. (c) where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. (d) if you are an individual, your death or your incapacity; e. (e) the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator a liquidator, administrator, judicial manager or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any caseboth cases) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. (f) where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 8, 19 and 17, 20 is or becomes untrue; g. (g) you are or become unable to pay your debts as and when they fall due; or h. (h) any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(216(2) to protect ourselves or all or any of our other clients. (2. ) If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, (a) close or part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. (b) convert any Currency balances on your account Account into another Currency; c. (c) exercise rights of set-off underunder Term 15(5), retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. (d) charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 84% above the applicable central bank’s base rate from time to time; e. (e) if you have failed to make a payment when due, inform any person who we reasonably believe to have a legitimate interest in knowing such facts of the amount of such overdue sum (and such persons may include your partner, employer, any professional, regulatory or other organisation with which you are associated), the circumstances thereof, the fact that you have failed to make payment, and any other relevant facts or information. By entering into this Agreement you expressly consent to any disclosure of this data by us in the circumstances set out herein; (f) close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) nature and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. (3. ) If we take any action under Term 13(216(2), you consent unless at our absolute discretion we will not be required consider it necessary or desirable to do so without prior notice by you, we will, where reasonably possible, take steps to advise you before exercising such rights. However, any failure on our part to take such steps will not invalidate the action taken by us under Term 16(2). (4. ) In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our your discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. (5. ) You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(416(4), this may result in your you incurring further losses. (6. ) You acknowledge and agree that, in closing out Transactions under this Term 1316, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that that, unless in the event of fraud, willful misconduct or negligence, we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 122.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or any member of the ADSS Group or that you are in material breach of any of your obligations to us or any Associated Company member of ours immediately when it becomes duethe ADSS Group whether under these Terms or under any other agreement; b. your if you fail to make any payment or any delivery to us when due (including failure to perform remit funds necessary to enable us to take delivery under any obligation Investments on the first due date and failure to usprovide assets for delivery under any Investments on the first due date); c. where any Transaction you are a natural person, if you die or combination become of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealingsunsound mind; d. if you are an individual, your death or your incapacity; e. the initiation by a third party Act of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets (affiliate(s). For the purpose of this Clause only, affiliates means, any entity controlled, directly or indirectly, by you or that directly or indirectly controls you. Whereby controlling means ownership of a majority of the voting power of either you or the entity you are controlling; e. if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; f. we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (a) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (b) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or (c) any person or group of persons (whether in one or more related transactions) is granted directly or in directly through contractual arrangements a substantial influence over your business. g. any event which we reasonably consider could result in the continuation of these terms causing a violation of any laws, applicable regulations, or good standard of market practice; h. any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; i. an admission by you that you are unable to, or intend not to, perform any of your obligations under these Terms; or h. j. the occurrence of an event of default, termination event or other similar event (howsoever described) under any other circumstance where agreement between you and us or any member of the ADSS Group. 22.2. Upon the occurrence of an Event of Default, we reasonably believe that it is necessary or desirable may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior noticethe following actions: a. close, part-require you to close or amend liquidate any or all or any of your Transactions at Investments by a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed specified date selected by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 128.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) If we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or any member of the ADSS Group or that you are in material breach of any of your obligations to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit member of the ADSS Group whether under these Terms or under any other limit placed on your dealingsagreement; d. (b) If you fail to make any payment or any delivery to us when due (including failure to remit funds necessary to enable us to take delivery under any Transaction on the first due date and failure to provide assets for delivery under any Transaction on the first due date); (c) Where you are a natural person, if you are an individual, your death die or your incapacitybecome of unsound mind; e. the initiation by a third party (d) An Act of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets Affiliates; (if e) If you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) We consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (i) You consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (ii) Any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or h. any other circumstance where (iii) Any person or group of persons (whether in one or more related transactions) is granted directly or in directly through contractual arrangements a substantial influence over your business. (g) Any event which we reasonably believe consider could result in the continuation of these terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) Any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) An admission by you that it is necessary you are unable to, or desirable intend not to, perform any of your obligations under these Terms; or (j) The occurrence of an event of default, termination event or other similar event (howsoever described) under any agreement between you and us or any member of the ADSS Group. 28.2. Upon the occurrence of an Event of Default, we may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions: 2. If an Event (a) Require you to close or liquidate any or all of Default occurs your Open Positions by a specified date selected by us; (b) Close any Open Positions or cancel any Orders on a date specified by us and at a price specified by us; (c) Prohibit and prevent you from accessing or using your Account; (d) Suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in relation to your account(sAccount; (e) Vary your Margin Requirements; (f) Reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) Sell any of your Security Assets; ADSS Terms of Business - 20190911 20 (h) Sell or charge in any way any or all of your securities, assets and property which may from time to time be in our possession or under our control or the possession or control of any member of the ADSS Group or call on any guarantee; (i) Make appropriate deductions or credits on your accounts with us or in relation any member of the ADSS Group; (j) Terminate these Terms immediately with or without notice with termination occurring on a specified date selected by us; (k) Exercise our right of set-off; and/or (l) Pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by us or any member of the ADSS Group instead of returning to you investments equivalent to those credited on your Account. 28.3. Where we close, liquidate or reverse an Open Position or a Transaction in accordance with an Associated Company of oursthe above clause 28.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Such amount, at if it is due from you to us, shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Execution Policy. 28.4. You authorise us to take any or all of the actions described in clause 28.2 above at any time and without prior notice:notice to you and acknowledges that we will not be responsible for any consequences of our taking such actions. You undertake that you will execute any documents and take any action as we may request in order to protect our rights and those of the ADSS Group under the Terms or under any agreement you may have entered into with any member of the ADSS Group. a. close, part-close or amend all 28.5. If we exercise our right to dispose of any Security Asset or any of your Transactions at a Closing Level based on the then prevailing quotations other security, asset or prices property in the relevant markets oraccordance with clause 28.2 above, if none, at we will make such levels as we consider fair and reasonable and/or delete or place any Order sale on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off underbehalf, retain any funds, investments (including any interest or other payment payable thereon) or other assets due without notice to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying apply the proceeds of sale and such disposal in or towards discharging your obligations to us and/or any member of the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with youADSS Group. f. In case of death of the Account Holder28.6. For all purposes, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instanceincluding any legal proceedings, a certificate by any of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred our officers as to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or any member of the ADSS Group or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 128.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) If we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or any member of the ADSS Group or that you are in material breach of any of your obligations to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit member of the ADSS Group whether under these Terms or under any other limit placed on your dealingsagreement; d. (b) If you fail to make any payment or any delivery to us when due (including failure to remit funds necessary to enable us to take delivery under any Transaction on the first due date and failure to provide assets for delivery under any Transaction on the first due date); (c) Where you are a natural person, if you are an individual, your death die or your incapacitybecome of unsound mind; e. the initiation by a third party (d) An Act of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets Affiliates; (if e) If you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) We consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (i) You consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (ii) Any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or h. any other circumstance where (iii) Any person or group of persons (whether in one or more related transactions) is granted directly or in directly through contractual arrangements a substantial influence over your business. (g) Any event which we reasonably believe consider could result in the continuation of these terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) Any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) An admission by you that it is necessary you are unable to, or desirable intend not to, perform any of your obligations under these Terms; or (j) The occurrence of an event of default, termination event or other similar event (howsoever described) under any agreement between you and us or any member of the ADSS Group. 28.2. Upon the occurrence of an Event of Default, we may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions: 2. If an Event (a) Require you to close or liquidate any or all of Default occurs your Open Positions by a specified date selected by us; (b) Close any Open Positions or cancel any Orders on a date specified by us and at a price specified by us; (c) Prohibit and prevent you from accessing or using your Account; (d) Suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in relation to your account(sAccount; (e) Vary your Margin Requirements; (f) Reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) Sell any of your Security Assets; ADSS-Public ADSS Terms of Business - 20190911 20 / 30 (h) Sell or charge in any way any or all of your securities, assets and property which may from time to time be in our possession or under our control or the possession or control of any member of the ADSS Group or call on any guarantee; (i) Make appropriate deductions or credits on your accounts with us or in relation any member of the ADSS Group; (j) Terminate these Terms immediately with or without notice with termination occurring on a specified date selected by us; (k) Exercise our right of set-off; and/or (l) Pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by us or any member of the ADSS Group instead of returning to you investments equivalent to those credited on your Account. 28.3. Where we close, liquidate or reverse an Open Position or a Transaction in accordance with an Associated Company of oursthe above clause 28.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Such amount, at if it is due from you to us, shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Execution Policy. 28.4. You authorise us to take any or all of the actions described in clause 28.2 above at any time and without prior notice:notice to you and acknowledges that we will not be responsible for any consequences of our taking such actions. You undertake that you will execute any documents and take any action as we may request in order to protect our rights and those of the ADSS Group under the Terms or under any agreement you may have entered into with any member of the ADSS Group. a. close, part-close or amend all 28.5. If we exercise our right to dispose of any Security Asset or any of your Transactions at a Closing Level based on the then prevailing quotations other security, asset or prices property in the relevant markets oraccordance with clause 28.2 above, if none, at we will make such levels as we consider fair and reasonable and/or delete or place any Order sale on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off underbehalf, retain any funds, investments (including any interest or other payment payable thereon) or other assets due without notice to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying apply the proceeds of sale and such disposal in or towards discharging your obligations to us and/or any member of the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with youADSS Group. f. In case of death of the Account Holder28.6. For all purposes, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instanceincluding any legal proceedings, a certificate by any of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred our officers as to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or any member of the ADSS Group or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 128.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or any member of the ADSS Group or that you are in material breach of any of your obligations to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit member of the ADSS Group whether under these Terms or under any other limit placed on your dealingsagreement; d. (b) if you are an individual, your death fail to make any payment or your incapacityany delivery to us when due (including failure to remit funds necessary to enable us to take delivery under any Transaction on the first due date and failure to provide assets for delivery under any Transaction on the first due date); e. the initiation by (c) where you are a third party of proceedings for your bankruptcy (natural person, if you are die or become of unsound mind; (d) an individual) or for your winding-up or for the appointment Act of an administrator or receiver Insolvency occurring in respect of you or any of your assets Affiliates; (e) if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (i) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (ii) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or (iii) any person or group of persons (whether in one or more related transactions) is granted directly or in directly through contractual arrangements a substantial influence over your business. (g) any event which we reasonably consider could result in the continuation of these terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) an admission by you that you are unable to, or intend not to, perform any of your obligations under these Terms; or h. (j) the occurrence of an event of default, termination event or other similar event (howsoever described) under any other circumstance where agreement between you and us or any member of the ADSS Group. 28.2. Upon the occurrence of an Event of Default, we reasonably believe that it is necessary or desirable may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions: 2. If an Event (a) require you to close or liquidate any or all of Default occurs your Open Positions by a specified date selected by us; (b) close any Open Positions or cancel any Orders on a date specified by us and at a price specified by us; (c) prohibit and prevent you from accessing or using your Account; (d) suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in June 16 V.1.0 Terms of Business 19/29 relation to your account(sAccount; (e) vary your Margin Requirements; (f) reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) sell any of your Security Assets; (h) sell or charge in any way any or all of your securities, assets and property which may from time to time be in our possession or under our control or the possession or control of any member of the ADSS Group or call on any guarantee; (i) make appropriate deductions or credits on your accounts with us or in relation any member of the ADSS Group; (j) terminate these Terms immediately with or without notice with termination occurring on a specified date selected by us; (k) exercise our right of set-off; and/or (l) pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by us or any member of the ADSS Group instead of returning to you investments equivalent to those credited on your Account. 28.3. Where we close, liquidate or reverse an Open Position or a Transaction in accordance with an Associated Company of oursthe above clause 28.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Such amount, at if it is due from you to us, shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Execution Policy. 28.4. You authorise us to take any or all of the actions described in clause 28.2 above at any time and without prior notice:notice to you and acknowledges that we will not be responsible for any consequences of our taking such actions. You undertake that you will execute any documents and take any action as we may request in order to protect our rights and those of the ADSS Group under the Terms or under any agreement you may have entered into with any member of the ADSS Group. a. close, part-close or amend all 28.5. If we exercise our right to dispose of any Security Asset or any of your Transactions at a Closing Level based on the then prevailing quotations other security, asset or prices property in the relevant markets oraccordance with clause 28.2 above, if none, at we will make such levels as we consider fair and reasonable and/or delete or place any Order sale on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off underbehalf, retain any funds, investments (including any interest or other payment payable thereon) or other assets due without notice to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying apply the proceeds of sale and such disposal in or towards discharging your obligations to us and/or any member of the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with youADSS Group. f. In case of death of the Account Holder28.6. For all purposes, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instanceincluding any legal proceedings, a certificate by any of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred our officers as to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or any member of the ADSS Group or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. 118.1. Each of the The following constitutes events (and each event separately) will constitute an ‘Event of Default’: a. your failure (a) if we have reasonable grounds to believe that you failed to make any payment (including any payment of Margin) to us or that you are in material breach of any of your obligations to us whether under the Account Agreement or under any Associated Company of ours immediately other agreement; (b) if you fail to make any payment or any delivery to us when it becomes due; b. your failure to perform any obligation due to us(c) where you are a natural person, if you die or become of unsound mind; c. where any Transaction or combination (d) an Act of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver Insolvency occurring in respect of you or any of your assets affiliate(s). For the purpose of this Clause only, affiliates means, any entity controlled, directly or indirectly, by you or that directly or indirectly controls you. Whereby controlling means ownership of a majority of the voting power of either you or the entity you are controlling; (e) if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall duedue or are bankrupt or insolvent as defined under any bankruptcy or insolvency law applicable to you; (f) we consider, in our sole and absolute discretion, that your creditworthiness is materially weaker, immediately following any of the following designated events: (a) you consolidate or amalgamate with, or merge with or into, or transfer all or substantially all your assets (or any substantial part of the assets comprising the business conducted by you) to, or reorganise, reincorporate or reconstitute into or as, another person; (b) any person or group of persons (whether in one or more related transactions) acquires a beneficial ownership in your business; or (c) any person or group of persons (whether in one or more related transactions) is granted directly or indirectly through contractual arrangements a substantial influence over your business; (g) occurrence of any event which we reasonably consider it necessary for our own protection, and any event which we reasonably consider could result in the continuation of these Terms causing a violation of any laws, applicable regulations, or good standard of market practice; (h) any representations or warranties made by you being incorrect, untrue or ceasing to be true in any material respect when made or repeated or deemed to have been made or repeated or any undertaking made by you where such undertaking fails to be met; (i) any consent, authorisation or board resolution required by you (being a corporation or a partnership) to enter into the Account Agreement being wholly or partly revoked, suspended, terminated or ceasing to remain in full force and effect; (j) an admission by you that you are unable to, or intend not to, perform any of your obligations under the Account Agreement; or h. (k) the occurrence of an event of default, termination event or other similar event (howsoever described) under any other circumstance where agreement between you and us. 18.2. Upon the occurrence of an Event of Default, we reasonably believe that it is necessary or desirable may, in our sole and absolute discretion (without being obliged to do so), take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients.the following actions with or without notice: 2. If an Event (a) require you to close, or we may liquidate, any or all of Default occurs your Open Positions by a specified date and a specified price selected by us; (b) cancel any Orders on a date specified by us; (c) prohibit and prevent you from accessing or using your Account; (d) suspend or in any way limit or restrict your ability to place any Order, give any instruction or effectuate any Transaction in relation to your account(sAccount; (e) vary your Margin Requirements; (f) reverse any Transactions (as if they had never been entered into in the first place) and the effect of such Transactions on your Account; (g) sell, charge or otherwise realise any or all of your Security Assets in such manner, at such time and to such person as we think fit and to apply the proceeds of sale in or towards discharge of your Liabilities and Secured Obligations, or call on any guarantee; (h) make appropriate deductions or credits on your Accounts with us us; (i) terminate the Account Agreement immediately with or in relation without notice with termination occurring on a specified date selected by us; (j) exercise our right of set-off; and/or (k) pay to you the fair market value, at the time we exercise our above rights, of any account(s) investments held by you us instead of returning to your investments equivalent to those credited on your Account. 18.3. Where we terminate or liquidate an Open Position in accordance with an Associated Company of oursClause 18.2, we maywill determine the amount that will be due (either to you or from you) as a result of such termination or liquidation. Where such amount is due from you, at such amount shall be immediately due and payable to us and form part of your Liabilities. Where applicable, we will act in accordance with our absolute discretion, Margin Call Policy. 18.4. You authorise us to take any or all of the actions described in Clause 18.2 above at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation acknowledge that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required responsible for any consequences if we take such actions. You undertake that you will execute any documents and take any action as we may request in order to advise protect our rights under the Account Agreement or under any agreement you before exercising such rightsmay have entered into with us. 418.5. In For all purposes, including any legal proceedings, a certificate by any of our officers as to the event of your failing to meet a demand Liabilities for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may being due to us or incurred by you shall be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or conclusive in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss absence of open positions marked to market. Please see our Order Execution Policy for further informationManifest Error. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. (1. ) Each of the following constitutes an ‘"Event of Default’": a. (a) your failure to make any payment (including any payment of Margindeposit or margin payment) to us or to any Associated Company of ours immediately when it becomes duedue which shall, without limitation, include a payment which becomes due on our deemed demand; b. (b) your failure to perform any obligation due to us; c. (c) where any Transaction Margin Trade or combination of Transactions Open Positions or any realised or unrealised losses on any Transactions Margin Trades or combination of Transactions Open Positions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on upon your dealingsdealings by us; d. (d) if you are an individual, your death or your incapacitydeath; e. (e) the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company), trust or partnership) or (in any caseboth cases) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is proceedings are commenced in respect of youyou (in any jurisdiction); f. (f) where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in these Terms 16 and 17, is or becomes untrue; g. (g) you are or become unable to pay your debts as and when they fall due; or; h. (h) any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with this Term 13(2) 11 for your protection, to protect ourselves or protect the interest of any or all or any of our other clients.; (2. ) If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of oursoccurs, we may, at may in our absolute discretion, discretion at any time and without prior noticenotice to you: a. close, part-(a) close or amend all or any of your Transactions Open Positions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to usreasonable; b. convert (b) exercise any Currency balances on your account into another Currency; c. exercise rights right of set-off underunder these Terms, retain any funds, investments (including any interest or other payment payable thereon) or other assets owned by or due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, we in our absolute discretion decide, applying the proceeds of sale and after discharging the costs of sale and the sums secured under this Termto satisfy any due to us; d. charge (c) if you interest on any money have failed to make a payment when due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all inform your partner, employer, any professional, regulatory or other organisation with which you are associated or any person whom we believe to have an interest in knowing such facts of the amount of such overdue sum, the circumstances thereof, the fact that you have failed to make payment, and any other relevant facts or information; or (d) close any or all of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) nature and refuse to enter into further Transactions Margin Trades, share deals, or any other transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. (3. ) If we take any action under this Term 13(2)11, you consent unless in our absolute discretion we will not be required consider it necessary or desirable to do so without prior notice by you, we shall where reasonably possible take steps to advise you before exercising such rights. However, any failure on our part to take such steps shall not invalidate the action taken by us under this Term 11. (4. In ) You acknowledge and agree that: (a) where you have failed to pay deposit and margin when due, we have the absolute right to close out your Open Position; (b) when you have exceeded the credit or any other limit placed by us on you we shall have the absolute right to: (i) close any or all of your Open Positions; and (ii) refuse to open any further Margin Trades until you have brought yourself within your limits unless: (I) movements in the Underlying Market have resulted in your Open Positions being brought back within your credit limit or any other limit (and we have waived any deposit and margin calls made upon you); or (II) you have been contacted by us and have undertaken to immediately send us the required deposit and margin and we are satisfied on reasonable grounds that the failure to supply the deposit and margin is due to circumstances beyond your control. (5) Subject to the FSA Rules, we may extend additional credit to you in the event of your failing to meet a demand for Margin or your being in excess of deposit and margin calls (at any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain opentime), but this the availability and suitability of such credit will depend on upon our assessment of your financial circumstances. The Client may (but not necessarily) be called upon If we extend such extra credit to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible obliged to close out your Transactions without resulting the Open Position(s) in a deficit on your account. Such may occur respect of which the call for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly deposit and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficitmargin was made.

DEFAULT AND DEFAULT REMEDIES. 1. Each of the following constitutes an ‘Event of Default’: a. your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes due; b. your failure to perform any obligation due to us; c. where any Transaction or combination of Transactions or any realised or unrealised losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealings; d. if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individual) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 and 17, is or becomes untrue; g. you are or become unable to pay your debts as and when they fall due; or h. any other circumstance where we reasonably believe that it is necessary or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off under, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under ; this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation is received, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2), you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sells) or offer prices (in the case of Buys), resulting in an aggregate closing level for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability to you as a result of any such working of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.

DEFAULT AND DEFAULT REMEDIES. (1. ) Each of the following constitutes an ‘“Event of Default’”: a. (a) your failure to make any payment (including any payment of Margin) to us or to any Associated Company of ours immediately when it becomes duein accordance with the conditions set out in Terms 11 and 12; b. (b) your failure to perform any obligation due to us; c. (c) where any Transaction or combination of Transactions or any realised realized or unrealised unrealized losses on any Transactions or combination of Transactions opened by you results in your exceeding your net amount funded with us or any credit or other limit placed on your dealingsTransactions with us; d. (d) if you are an individual, your death or your incapacity; e. the initiation by a third party of proceedings for your bankruptcy (if you are an individuale) or for your winding-up or for the appointment of an administrator or receiver in respect of you or any of your assets (if you are a company, trust or partnership) or (in any case) if you make an arrangement or composition with your creditors or any other similar or analogous procedure is commenced in respect of you; f. where any representation or warranty made by you in this Agreement, including but not limited to the representations and warranties in Terms 16 6(1), 6(18) and 1715(1), is or becomes untrue; g. (f) if you are not an individual, you are dissolved (other than pursuant to a consolidation, amalgamation or merger); (g) you become insolvent or are unable to pay your debts or fail or admit in writing your inability generally to pay your debts as and when they fall become due; or; h. (h) you make a general assignment, arrangement or composition with or for the benefit of your creditors; (i) you institute or have instituted against you a proceeding seeking a judgment of insolvency or bankruptcy or any other circumstance where we reasonably believe that it is necessary relief under any bankruptcy or desirable to take any action in accordance with Term 13(2) to protect ourselves or all or any of our other clients. 2. If an Event of Default occurs in relation to your account(s) with us or in relation to any account(s) held by you with an Associated Company of ours, we may, at our absolute discretion, at any time and without prior notice: a. close, part-close or amend all or any of your Transactions at a Closing Level based on the then prevailing quotations or prices in the relevant markets or, if none, at such levels as we consider fair and reasonable and/or delete or place any Order on your account with the aim of reducing your exposure and the level of Margin insolvency law or other funds owed by you to us; b. convert any Currency balances on your account into another Currency; c. exercise rights of set-off undersimilar law affecting creditors’ rights, retain any funds, investments (including any interest or other payment payable thereon) or other assets due to you, and sell them without notice to you at such price and in such manner as we, acting reasonably, decide, applying the proceeds of sale and discharging the costs of sale and the sums secured under this Term; d. charge you interest on any money due, from close of business on the date when monies first fell due until the date of actual payment at a rate not exceeding 8% above the applicable central bank’s base rate from time to time; e. close all or any of your accounts held with us of whatever nature, remit any monies owing to you and any rights under this Term 13(2) and refuse to enter into further Transactions with you. f. In case of death of the Account Holder, the following additional measures should be adopted: - An official confirmation that the client passed away should be sought, for instance, a certificate of death or a letter of confirmation from a Lawyer; - Once the above confirmation petition is receivedpresented for your winding-up or liquidation, then the clients balance should be transferred to the person inheriting his funds/ family member; - The person/family inheriting the funds to execute an acknowledgement that he / she is receiving the exact figure as full and final settlement from the Company and that he/she has no further claim whatsoever. 3. If we take any action under Term 13(2)and, you consent we will not be required to advise you before exercising such rights. 4. In the event of your failing to meet a demand for Margin or your being in excess of any credit or other limit placed on your account, we may at our discretion allow you to continue to trade with us, or allow your open Transactions to remain open, but this will depend on our assessment of your financial circumstances. The Client may (but not necessarily) be called upon to deposit substantial additional margin, at short notice based on the margin level, to maintain his/her investment. If the Client does not provide such additional funds within the time required, his/her investment position may be closed at a loss and he/she will be liable for any resulting deficit. In case where the Client failed to meet the margin call within the set timeframe or in the Company’s absolute discretion, the Company has the discretionary r ight to start closing positions starting from whichever position it sees better when margin decreases lower than the Margin Call level, and automatically close all positions at Market Prices if the balance on the Client’s account bears the floating loss of open positions marked to market. Please see our Order Execution Policy for further information. 5. You acknowledge that, if we agree to allow you to continue to trade or to allow your open Transactions to remain open under Term 13(4), this may result in your incurring further losses. 6. You acknowledge and agree that, in closing out Transactions under this Term 13, it may be necessary for us to ‘work’ the order. This may have the result that your Transaction is closed out in tranches at different bid prices (in the case of Sellsany such proceeding or petition instituted or presented against you, such proceeding or petition (A) results in a judgment of insolvency or offer prices bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed, discharged, stayed or restrained in each case within 30 days of the case of Buys)institution or presentation thereof; (j) if you are not an individual, resulting in an aggregate closing level you have a resolution passed for your Transaction that results in further losses being incurred on your account. You acknowledge and agree that we shall not have any liability winding- up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); (k) you as a result seek or become subject to the appointment of any such working an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all of your Transactions. 7. You acknowledge and accept that in certain circumstances, it will not be possible to close out your Transactions without resulting in a deficit on your account. Such may occur for instance in the case of adverse movement resulting from a market gap whereby the best attainable price to close your order will result a bigger total loss than your net funding. You acknowledge that in such cases, we will close out your positions directly and you will be liable to pay immediately any negative balance and you accept that we will incur an interest equivalent to the applicable central bank’s base rate from time to time plus 8% for any delay to settle the deficit.assets;