Common use of Disclosure Relating to Certain Federal Protections Clause in Contracts

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Exchange Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transaction; (b) in the case of any Transaction in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transaction; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such Transaction are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Exchange Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transactionany Transaction hereunder; (b) in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) SEC under Section 15 of the Securities Exchange Act of 1934 (“1934 Act”), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transactionany Transaction hereunder; (b) in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in a. In the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SECSFC”) under Section 15 of the Securities Exchange Act of 1934 (“1934 Act”), the Securities Investor Investors Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transactionany Transaction hereunder; (b) in b. In the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) in c. In the case of any Transactions in which one of the parties is a financial institutionBank, funds held by the financial institution in connection with such Bank pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) SEC under Section 15 of the Exchange Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“Securities Investor Protection Act of 1970” or “SIPA”) do not protect the other party Parties with respect to such Transactionany Transaction hereunder; (b) in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Exchange Act, SIPA will not provide protection to the other party parties with respect to such Transactionany Transaction hereunder; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Exchange 1934 Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transactionany Transaction hereunder; (b) in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Loans in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) SEC under Section 15 of the Securities Exchange Act of 1934 (“1934 Act”), the Securities Investor Protection Corporation has taken the position that the provisions of the USActive 5675666.14 -61- Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transactionany Loan hereunder; (b) in the case of any Transaction Loans in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Loan hereunder; and (c) in the case of any Transactions Loans in which one of the parties is a financial institution, funds held by the financial institution in connection with such Transaction pursuant to a Loan hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) : in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“"SEC”") under Section 15 of the Securities Exchange Act of 1934 ("1934 Act"), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“"SIPA”") do not protect the other party with respect to such Transaction; (b) any Transaction hereunder; in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) and in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) a. in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“"SEC”") under Section 15 of the Securities Exchange Act of 1934 ("1934 Act"), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“"SIPA”") do not protect the other party with respect to such Transactionany Transaction hereunder; (b) b. in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) c. in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: : (aal) in the case of any Transaction in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Exchange Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transaction; ; (bam) in the case of any Transaction in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transaction; and and (can) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such Transaction are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: : (a) in the case of any Transaction in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Exchange Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to such Transaction; ; (b) in the case of any Transaction in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transaction; and and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such Transaction are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.

Disclosure Relating to Certain Federal Protections. The parties acknowledge that they have been advised that: (a) in the case of any Transaction Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“"SEC”") under Section 15 of the Exchange 1934 Act, the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“"SIPA”") do not protect the other party with respect to such Transactionany Transaction hereunder; (b) in the case of any Transaction Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to such Transactionany Transaction hereunder; and (c) in the case of any Transactions in which one of the parties is a financial institution, funds held by the financial institution in connection with such pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable.