Common use of Instant Deposit Account; No Extension of Credit Clause in Contracts

Instant Deposit Account; No Extension of Credit. All Customer Accounts are designated to be “Instant Deposit” accounts. “Instant Deposit” accounts allow Customers to have access to unsettled funds, subject to certain restrictions and limitations. Customer Accounts are also “zero cash balance” accounts. Customers understand that all proceeds from any securities sale in Customer Account will be automatically transferred to your Customer MSB Account and not to your Customer Account with FTX. Additionally, as noted above in Section 16(B)(1), Customers will not be permitted to fund their Customer Account, and rather all funding must be made to the Customer MSB Account. No credit or margin will be extended to Customer in this “Instant Deposit” account. All securities, assets and other property held in your Customer Account are subject to a lien in favor of FTX for the payment of all trades, debit balances or other obligations arising in connection with your Customer Account. Customer may request to close the Customer Account at any time by contacting us via our support page. CUSTOMER UNDERSTANDS AND ACKNOWLEDGES THAT BY PLACING ANY TYPE OF SECURITIES SELL ORDER THAT CUSTOMER IS PROVIDING EXPLICIT INSTRUCTIONS TO FTX AND CLEARING FTX TO INITIATE A TRANSFER OF RESULTING SETTLED FUNDS FROM CUSTOMER ACCOUNT TO CUSTOMER MSB ACCOUNT. THIS WILL RESULT IN CUSTOMER ACCOUNT HAVING A ZERO-CASH BALANCE AND CUSTOMER MSB ACCOUNT HOLDING ANY AND ALL FUNDS RESULTING FROM A SALE OF SECURITIES PREVIOUSLY HELD IN CUSTOMER ACCOUNT.

Instant Deposit Account; No Extension of Credit. All Customer Accounts are designated to be “Instant Deposit” accounts. “Instant Deposit” accounts allow Customers to have access to unsettled funds, subject to certain restrictions and limitations. Customer Accounts are also “zero cash balance” accounts. Customers understand that all proceeds from any securities sale in Customer Account will be automatically transferred to your Customer MSB Account and not to your Customer Account with FTX. Additionally, as noted above in Section 16(B)(1), Customers will not be permitted to fund their Customer Account, and rather all funding must be made to the Customer MSB Account. No credit or margin will be extended to Customer in this “Instant Deposit” account. All securities, assets and other property held in your Customer Account are subject to a lien in favor of FTX for the payment of all trades, debit balances or other obligations arising in connection inconnection with your Customer Account. Customer may request to close the Customer Account at any time by contacting us via our support page. CUSTOMER UNDERSTANDS AND ACKNOWLEDGES THAT BY PLACING ANY TYPE OF SECURITIES SELL ORDER THAT CUSTOMER IS PROVIDING EXPLICIT INSTRUCTIONS TO FTX AND CLEARING FTX TO INITIATE A TRANSFER OF RESULTING SETTLED FUNDS FROM CUSTOMER ACCOUNT TO CUSTOMER MSB ACCOUNT. THIS WILL RESULT IN CUSTOMER ACCOUNT HAVING A ZERO-CASH BALANCE AND CUSTOMER MSB ACCOUNT HOLDING ANY AND ALL FUNDS RESULTING FROM A SALE OF SECURITIES PREVIOUSLY HELD IN CUSTOMER ACCOUNT.