Common use of Exercise of Options and Futures Contracts Clause in Contracts

Exercise of Options and Futures Contracts. 1. The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP may set its own exercise cut-off times ("SFP Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut-off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFP, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP shall give the Customer reasonable prior notice of any SFP Cut-off Time which differs from a Prescribed Cut-off Times. 4. Any instruction from the Customer to exercise an option must be received by SFP before the Prescribed Cut-off Time or SFP Cut-off Time, whichever is earlier. 5. The Customer acknowledges that in the event that it does not instruct SFP to exercise an option as provided in clause A.2.4, such option may expire worthless. 6. Where the Customer has: (a) sold an option and such option is exercised by the option purchaser; or (b) entered into a futures contract and the Customer is required to deliver the underlying under such futures contract, the Customer agrees and undertakes to: (i) make all the necessary payments and/or deliveries in accordance with the timelines and conditions; and/or (ii) accept any and all amendments to such option exercise or obligation to deliver the underlying under a futures contract, as the case may be, as may from time to time be prescribed by the relevant exchange, clearing house or Intermediary, as the case may be, and as notified by SFP to the Customer and the Customer acknowledges that the occurrence of any of clause A.2.6(a) or (b), as the case may be, the timelines and conditions under which the Customer may be required to perform its obligations under such options or futures contracts and the amendments in respect thereof, may be beyond the control of SFP. 7. Notwithstanding clause A.2.6, the Customer agrees and acknowledges that SFP may itself stipulate a different timeline and/or impose such additional or different conditions from that imposed by the relevant exchange, clearing house or Intermediary, as the case may be, in respect of such option or futures contract, and the Customer agrees and undertakes to make all the necessary payments and/or deliveries in accordance with the timelines and conditions as may be prescribed by SFP from time to time. 8. Where the relevant exchange, clearing house or Intermediary does not identify a particular option or futures contract pursuant to clause A.2.6 and if the aggregate of: (a) options exercised by options purchasers; or (b) futures contracts specified for delivery of the underlying, are less than the aggregate of all positions in such options or futures contracts for the time being, SFP may allocate the exercised option or the futures contract specified for delivery in such manner as SFP believes to be fair and equitable and the Customer: (i) and its Account will be bound by any allocation made to the Customer pursuant to these procedures; and (ii) accepts that such allocation or actions by SFP as aforesaid may result in prejudice and/or Loss to the Customer and accepts the risks thereof as being for its account. 9. The Customer shall not have any claim against SFP or its Officers arising from the exercise, non-exercise, allocation or non-allocation of an option or futures contract, save in circumstances where SFP has failed to act in accordance with the Customer’s instructions to exercise or, as the case may be, refrain from exercising an option where such instructions have been duly given in accordance with clause A.2.4.

Exercise of Options and Futures Contracts. 1. 2.2.1 The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP UOBBF may set its own exercise cut-off times ("SFP UOBBF Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. 2.2.2 It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut-off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFPUOBBF, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP 2.2.3 UOBBF shall give the Customer reasonable prior notice of any SFP Cut-UOBBF Cut- off Time which differs from a Prescribed Cut-off TimesTime. 4. 2.2.4 Any instruction from the Customer to exercise an option must be received by SFP UOBBF before the Prescribed Cut-off Time or SFP UOBBF Cut-off Time, whichever is earlier. 5. 2.2.5 The Customer acknowledges that in the event that it does not instruct SFP UOBBF to exercise an option as provided in clause A.2.4Clause 2.2.4, such option may expire worthless. 6. 2.2.6 Where the Customer has: (a) sold an option and such option is exercised by the option purchaser; or (b) entered into a futures contract and the Customer is required to deliver the underlying under such futures contract, the Customer agrees and undertakes to: (i) make all the necessary payments and/or deliveries in accordance with the timelines and conditions; and/or (ii) accept any and all amendments to such option exercise or obligation to deliver the underlying under a futures contract, as the case may be, as may from time to time be prescribed by the relevant exchange, clearing house or Intermediary, as the case may be, and as notified by SFP UOBBF to the Customer and the Customer acknowledges that the occurrence of any of clause A.2.6(aClause 2.2.6(a) or (b), as the case may be, the timelines and conditions under which the Customer may be required to perform its obligations under such options or futures contracts and the amendments in respect thereof, may be beyond the control of SFPUOBBF. 7. Notwithstanding clause A.2.6, the Customer agrees and acknowledges that SFP may itself stipulate a different timeline and/or impose such additional or different conditions from that imposed by the relevant exchange, clearing house or Intermediary, as the case may be, in respect of such option or futures contract, and the Customer agrees and undertakes to make all the necessary payments and/or deliveries in accordance with the timelines and conditions as may be prescribed by SFP from time to time. 8. Where the relevant exchange, clearing house or Intermediary does not identify a particular option or futures contract pursuant to clause A.2.6 and if the aggregate of: (a) options exercised by options purchasers; or (b) futures contracts specified for delivery of the underlying, are less than the aggregate of all positions in such options or futures contracts for the time being, SFP may allocate the exercised option or the futures contract specified for delivery in such manner as SFP believes to be fair and equitable and the Customer: (i) and its Account will be bound by any allocation made to the Customer pursuant to these procedures; and (ii) accepts that such allocation or actions by SFP as aforesaid may result in prejudice and/or Loss to the Customer and accepts the risks thereof as being for its account. 9. The Customer shall not have any claim against SFP or its Officers arising from the exercise, non-exercise, allocation or non-allocation of an option or futures contract, save in circumstances where SFP has failed to act in accordance with the Customer’s instructions to exercise or, as the case may be, refrain from exercising an option where such instructions have been duly given in accordance with clause A.2.4.

Exercise of Options and Futures Contracts. 1. 2.2.1 The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP UOB may set its own exercise cut-off times ("SFP UOB Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. 2.2.2 It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut-off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFPUOB, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP 2.2.3 UOB shall give the Customer reasonable prior notice of any SFP UOB Cut-off Time which differs from a Prescribed Cut-off TimesTime. 4. 2.2.4 Any instruction from the Customer to exercise an option must be received by SFP UOB before the Prescribed Cut-off Time or SFP UOB Cut-off Time, whichever is earlier. 5. 2.2.5 The Customer acknowledges that in the event that it does not instruct SFP UOB to exercise an option as provided in clause A.2.4Clause 2.2.4, such option may expire worthless. 6. 2.2.6 Where the Customer has: (a) sold an option and such option is exercised by the option purchaser; or (b) entered into a futures contract and the Customer is required to deliver the underlying under such futures contract, the Customer agrees and undertakes to: (i) make all the necessary payments and/or deliveries in accordance with the timelines and conditions; and/or (ii) accept any and all amendments to such option exercise or obligation to deliver the underlying under a futures contract, as the case may be, as may from time to time be prescribed by the relevant exchange, clearing house or Intermediary, as the case may be, and as notified by SFP UOB to the Customer and the Customer acknowledges that the occurrence of any of clause A.2.6(aClause 2.2.6(a) or (b2.2.6(b), as the case may be, the timelines and conditions under which the Customer may be required to perform its obligations under such options or futures contracts and the amendments in respect thereof, may be beyond the control of SFPUOB. 7. 2.2.7 Notwithstanding clause A.2.6Clause 2.2.6, the Customer agrees and acknowledges that SFP UOB may itself stipulate a different timeline and/or impose such additional or different conditions from that imposed by the relevant exchange, clearing house or Intermediary, as the case may be, in respect of such option or futures contract, and the Customer agrees and undertakes to make all the necessary payments and/or deliveries in accordance with the timelines and conditions as may be prescribed by SFP UOB from time to time. 8. 2.2.8 Where the relevant exchange, clearing house or Intermediary does not identify a particular option or futures contract pursuant to clause A.2.6 Clause 2.2.6 and if the aggregate of: (a) options exercised by options purchasers; or (b) futures contracts specified for delivery of the underlying, are less than the aggregate of all positions in such options or futures contracts for the time being, SFP UOB may allocate the exercised option or the futures contract specified for delivery in such manner as SFP UOB believes to be fair and equitable and the Customer: (i) and its Account will be bound by any allocation made to the Customer pursuant to these procedures; and (ii) accepts that such allocation or actions by SFP UOB as aforesaid may result in prejudice and/or Loss to the Customer and accepts the risks thereof as being for its account. 9. 2.2.9 The Customer shall not have any claim against SFP UOB or its Officers arising from the exercise, non-exercise, allocation or non-allocation of an option or futures contract, save in circumstances where SFP UOB has failed to act in accordance with the Customer’s 's instructions to exercise or, as the case may be, refrain from exercising an option where such instructions have been duly given in accordance with clause A.2.4Clause 2.2.4.

Exercise of Options and Futures Contracts. 1. The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP may set its own exercise cut-off times ("SFP Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut-off Cut -off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFP, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP shall give the Customer reasonable prior notice of any SFP Cut-off Time which differs from a Prescribed Cut-off Times. 4. Any instruction from the Customer to exercise an option must be received by SFP before the Prescribed Cut-off Time or SFP Cut-off Time, whichever is earlier. 5. The Customer acknowledges that in the event that it does not instruct SFP to exercise an option as provided in clause A.2.4, such option may expire worthless. 6. Where the Customer has: (a) sold an option and such option is exercised by the option purchaser; or (b) entered into a futures contract and the Customer is required to deliver the underlying under such futures contract, the Customer agrees and undertakes to: (i) make all the necessary payments and/or deliveries in accordance with the timelines and conditions; and/or (ii) accept any and all amendments to such option exercise or obligation to deliver the underlying under a futures contract, as the case may be, as may from time to time be prescribed by the relevant exchange, clearing house or Intermediary, as the case may be, and as notified by SFP to the Customer and the Customer acknowledges that the occurrence of any of clause A.2.6(a) or (b), as the case may be, the timelines and conditions under which the Customer may be required to perform its obligations under such options or futures contracts and the amendments in respect thereof, may be beyond the control of SFP. 7. Notwithstanding clause A.2.6, the Customer agrees and acknowledges that SFP may itself stipulate a different timeline and/or impose such additional or different conditions from that imposed by the relevant exchange, clearing house or Intermediary, as the case may be, in respect of such option or futures contract, and the Customer agrees and undertakes to make all the necessary payments and/or deliveries in accordance with the timelines and conditions as may be prescribed by SFP from time to time. 8. Where the relevant exchange, clearing house or Intermediary does not identify a particular option or futures contract pursuant to clause A.2.6 and if the aggregate of: (a) options exercised by options purchasers; or (b) futures contracts specified for delivery of the underlying, are less than the aggregate of all positions in such options or futures contracts for the time being, SFP may allocate the exercised option or the futures contract specified for delivery in such manner as SFP believes to be fair and equitable and the Customer: (i) and its Account will be bound by any allocation made to the Customer pursuant to these procedures; and (ii) accepts that such allocation or actions by SFP as aforesaid may result in prejudice and/or Loss to the Customer and accepts the risks thereof as being for its account. 9. The Customer shall not have any claim against SFP or its Officers arising from the exercise, non-exercise, allocation or non-allocation of an option or futures contract, save in circumstances where SFP has failed to act in accordance with the Customer’s instructions to exercise or, as the case may be, refrain from exercising an option where such instructions have been duly given in accordance with clause A.2.4.