Common use of Knowledge of Account Clause in Contracts

Knowledge of Account. The Customer understands that the Customer is solely responsible for knowing the rights and terms for all securities purchased, sold and maintained in the Customer Account including mergers, reorganizations, stock splits, name changes or symbol changes, dividends, option symbols, and option deliverables. The Customer further understands that certain securities may grant the Customer valuable rights that may expire unless the Customer takes specific action. These securities include bonds, convertible securities, warrants, stock rights and securities subject to exchange offers or tenders. The Customer is responsible for knowing all expiration dates, redemption dates, and the circumstances under which rights associated with the Customer’s securities may be called, cancelled, or modified. FTX may, but is not obligated to, notify the Customer of any upcoming expiration or redemption dates, or take any action on the Customer’s behalf without specific instructions from the Customer except as required by law and the rules of regulatory authorities. The Customer acknowledges that FTX may adjust the Customer’s Account to correct any error. If the Customer Account has an option position on the last trading day prior to expiration, which is one cent or more in the money, FTX will generally exercise the option, on the Customer’s behalf. However, FTX reserves the right at FTX’s discretion to close any option position prior to expiration date or any position resulting from the exercising/assignment after option expiration. The Customer will be charged a commission for any such transaction. FTX is not obligated to take any of these actions and FTX is not liable for Losses should it not take them.

Knowledge of Account. The Customer understands that the Customer is solely responsible for knowing the rights and terms for all Investment Products and securities purchased, sold and maintained in the Customer Account including mergers, reorganizations, stock splits, name changes or symbol changes, dividends, option symbols, and option deliverables. The Customer further understands that certain securities may grant the Customer valuable rights that may expire unless the Customer takes specific action. These securities include bonds, convertible securities, warrants, stock rights and securities subject to exchange offers or tenders. The Customer is responsible for knowing all expiration dates, redemption dates, and the circumstances under which rights associated with the Customer’s securities may be called, cancelled, or modified. FTX The Broker may, but is not obligated to, notify the Customer of any upcoming expiration or redemption dates, or take any action on the Customer’s behalf without specific instructions from the Customer except as required by law and the rules of regulatory authorities. The Customer acknowledges that FTX the Broker may adjust the Customer’s Account to correct any error. If the Customer Account has an option position on the last trading day prior to expiration, which is one cent or more in the money, FTX the Broker will generally exercise the option, on the Customer’s behalf. However, FTX the Broker reserves the right at FTXthe Broker’s discretion to close any option position prior to expiration date or any position resulting from the exercising/assignment after option expiration. The Customer will be charged a commission for any such transaction. FTX The Broker is not obligated to take any of these actions and FTX the Broker is not liable for Losses should it not take them.