Common use of Limitations of Liability and Indemnity Clause in Contracts

Limitations of Liability and Indemnity. 22.1. Nothing in the Agreement shall exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.2. The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the execution 22.3. The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to gross negligence, willful default or fraud by the Company or its employees. 22.4. If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. the acts, omissions or negligence of any third party; 22.6.3. any changes in the rates of tax; 22.6.4. in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given;

Limitations of Liability and Indemnity. 22.1. 22.1 Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.2. 22.2 The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the executionexecution of the Client’s Orders and/or from which Transactions are carried out on behalf of the Client, unless to the extend where this would be the result of gross negligence, willful default or fraud on the part of the Company. 22.3. 22.3 The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to gross negligence, willful default or fraud by the Company or its employees. 22.4. 22.4 If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. 22.5 The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. 22.6 The Company shall will not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. 22.6.1 any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. 22.6.2 the acts, omissions or negligence of any third party; 22.6.3. 22.6.3 any changes in the rates of tax; 22.6.4. 22.6.4 in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given. 22.6.5 currency risk; 22.6.6 the Client’s choice of a Manager 22.7 The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses or damages the Client may suffer in relation to the Agreement.

Limitations of Liability and Indemnity. 22.131.1. The Company gives no warranty as to the performance and/or profitability of the Client’s investments or any part of it or any Investment Advice it provides the Client with. The Company cannot guarantee that the Financial Instruments and other assets acquired, following the provision of Investment Advice or otherwise, will not depreciate in value or that they will not be negatively affected by adverse tax consequences or for any other reason. 31.2. The Company shall not be liable for any act or omission or for the solvency of any counterparty, bank, custodian or other third party which acts on behalf of the Client or with or through whom transactions on behalf of the Client are carried out. 31.3. The Company shall not be liable for any loss suffered by the Client in connection with the Services it provides to the Client under this Agreement (and in particular, but without limitation, the Company shall not be liable for any loss which may arise from the purchase or sale of any Financial Instruments) unless such loss arises directly from the gross negligence, willful default or fraud of the Company. 31.4. It is provided that the Company shall not be liable to the Client or any other person for any consequential, circumstantial, special or indirect damages (including without prejudice to the generality of the aforementioned, loss of profit, commercial losses and damages) which are incurred by the Client in connection with this Agreement. 31.5. The Company shall not be liable for any loss of opportunity as a result of which the value of the Financial Instruments of the Client could have increased or for any decrease in the value of the Financial Instruments of the Client, howsoever caused, save to the extent that such loss or decrease is directly due to the gross negligence, willful default or fraud on the part of the Company and/or its directors and/or its employees and/or its representatives. 31.6. In the event the Company provides information, recommendations, news, information relating to transactions, market commentary or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise), the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any such information given. 31.7. The Company will not be held liable for any loss or damage or expense or loss incurred by the Client in relation to, or directly or indirectly arising from but not limited to: 1. Any error or failure or interruption or disconnection in the operation of the On-Line System (where this may be made available), any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. 2. Any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control. 3. The acts, omissions or negligence of any third party. 4. Any person obtaining the Client’s Access Data that the Company has issued to the Client prior to the Client’s reporting to the Company of the misuse of his Access Data. 5. Unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means. 6. Any of the risks of the Risks Disclosure and Warnings Notice. 7. Any changes in the rates of tax. 8. Any acts or omissions (including negligence and fraud) of the Client and/or his Authorized Representative. 9. For the Client’s or his Authorized Representative’s trading decisions. 10. All instructions given through and under and/or using the Client’s Access Data. 11. The contents, correctness, accuracy and completeness of any communication spread by the use of the On-Line System (where this may be made available). 12. The solvency, acts or omissions of any third party where the Company keeps Client Assets. 31.8. If the Company, its Directors, Officers, employees, Affiliates, or Agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the On-Line System(s) (where this may be made available), that the Company, its Directors, Officers, employees, Affiliates, or Agents bear no responsibility whatsoever, it is the Client’s responsibility to indemnify the Company for such. The Client shall keep the Company indemnified against all expenses, incurred by the Company as a result of any error in any Instruction given by the Client or as a result of the Company acting upon any Instruction, submitted by the Client. 31.9. The Company shall in no circumstances be liable to the Client or any other person for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses the Client may suffer in relation to the Agreement and the provision of the Services or the use of the On-Line System (where this may be made available). 31.10. The Company shall not be liable for any loss caused by misrepresentation of facts or by error of judgment or any act done or omitted to be done by the Company whenever caused, save to the extent that such act or omission is directly due to the gross negligence, wilful default or fraud on the part of 31.11. The Company’s cumulative liability to the Client shall not exceed the fees paid to the Company under this Agreement in relation to the particular Client for the Provision of the Services and/or use of the On-Line System (where this may be made available). 31.12. Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.231.13. The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the execution 22.3. The Company shall not be held liable for any loss of opportunity as a result of which the value execution of the Client’s Financial Instruments could increase or for any reduction in the value Orders and/or from which Transactions are carried out on behalf of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to extend where this would be the result of gross negligence, willful default or fraud by on the part of the Company. 31.14. Save in cases of gross negligence, willful default or fraud on the part of the Company, the Client shall indemnify and keep indemnified the Company or and/or its employees. 22.4. If the Company incurs directors and/or its employees and/or its representatives for any claims, damageclaim by third parties and/or for any loss, liability, costs or expenses which the Company or any third party may have incurred or paid in respect of any act or omission of the Client and/or its Authorized Representative / Attorney and/or due to the performance of the Agreement and/or the provision of any Services and/or the liquidation of any Financial Instruments of the Client in settlement of any claims of the Company. 31.15. The Client shall keep the Company indemnified against all expenses, which may arise incurred by the Company as a result of any error in relation to any instruction given by the execution Client or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of Company acting upon any instruction, submitted by the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due . 31.16. The Client shall reimburse to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept actually incurred losses caused by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. any failure by to provide (or delay in provision of) any documents (including, without any limitations, original copies of the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event documents previously sent via fax or any other cause beyond its control; 22.6.2. the acts, omissions or negligence of any third party; 22.6.3. any changes in the rates of tax; 22.6.4. in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research e-mail upon Company’s consent) that should have been provided pursuant to the Client (or Terms and for losses caused by provision of inadequate information contained in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given;documents.

Limitations of Liability and Indemnity. 22.131.1. The Company gives no warranty as to the performance and/or profitability of the Client’s investments or any part of it or any Investment Advice it provides the Client with. The Company cannot guarantee that the Financial Instruments and other assets acquired, following the provision of Investment Advice or otherwise, will not depreciate in value or that they will not be negatively affected by adverse tax consequences or for any other reason. 31.2. The Company shall not be liable for any act or omission or for the solvency of any counterparty, bank, custodian or other third party which acts on behalf of the Client or with or through whom transactions on behalf of the Client are carried out. 31.3. The Company shall not be liable for any loss suffered by the Client in connection with the Services it provides to the Client under this Agreement (and in particular, but without limitation, the Company shall not be liable for any loss which may arise from the purchase or sale of any Financial Instruments) unless such loss arises directly from the gross negligence, wilful default or fraud of the Company. 31.4. It is provided that the Company shall not be liable to the Client or any other person for any consequential, circumstantial, special or indirect damages (including without prejudice to the generality of the aforementioned, loss of profit, commercial losses and damages) which are incurred by the Client in connection with this Agreement. 31.5. The Company shall not be liable for any loss of opportunity as a result of which the value of the Financial Instruments of the Client could have increased or for any decrease in the value of the Financial Instruments of the Client, howsoever caused, save to the extent that such loss or decrease is directly due to the gross negligence, wilful default or fraud on the part of the Company and/or its directors and/or its employees and/or its representatives. 31.6. In the event the Company provides information, recommendations, news, information relating to transactions, market commentary or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise), the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any such information given. 31.7. The Company will not be held liable for any loss or damage or expense or loss incurred by the Client in relation to, or directly or indirectly arising from but not limited to: 1. Any error or failure or interruption or disconnection in the operation of the On-Line System (where this may be made available), any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. 2. Any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control. 3. The acts, omissions or negligence of any third party. 4. Any person obtaining the Client’s Access Data that the Company has issued to the Client prior to the Client’s reporting to the Company of the misuse of his Access Data. 5. Unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means. 6. Any of the risks of the Risks Disclosure and Warnings Notice. 7. Any changes in the rates of tax. 8. Any acts or omissions (including negligence and fraud) of the Client and/or his Authorized Representative. 9. For the Client’s or his Authorised Representative’s trading decisions. 10. All instructions given through and under and/or using the Client’s Access Data. 11. The contents, correctness, accuracy and completeness of any communication spread by the use of the On-Line System (where this may be made available). 12. The solvency, acts or omissions of any third party where the Company keeps Client Assets. 31.8. If the Company, its Directors, Officers, employees, Affiliates, or Agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the On-Line System(s) (where this may be made available), that the Company, its Directors, Officers, employees, Affiliates, or Agents bear no responsibility whatsoever, it is the Client’s responsibility to indemnify the Company for such. The Client shall keep the Company indemnified against all expenses, incurred by the Company as a result of any error in any Instruction given by the Client or as a result of the Company acting upon any Instruction, submitted by the Client. 31.9. The Company shall in no circumstances be liable to the Client or any other person for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses the Client may suffer in relation to the Agreement and the provision of the Services or the use of the On-Line System (where this may be made available). 31.10. The Company shall not be liable for any loss caused by misrepresentation of facts or by error of judgment or any act done or omitted to be done by the Company whenever caused, save to the extent that such act or omission is directly due to the gross negligence, wilful default or fraud on the part of the Company. 31.11. The Company’s cumulative liability to the Client shall not exceed the fees paid to the Company under this Agreement in relation to the particular Client for the Provision of the Services and/or use of the On-Line System (where this may be made available). 31.12. Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.231.13. The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the execution 22.3. The Company shall not be held liable for any loss of opportunity as a result of which the value execution of the Client’s Financial Instruments could increase or for any reduction in the value Orders and/or from which Transactions are carried out on behalf of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to extend where this would be the result of gross negligence, willful default or fraud by on the part of the Company. 31.14. Save in cases of gross negligence, wilful default or fraud on the part of the Company, the Client shall indemnify and keep indemnified the Company or and/or its employees. 22.4. If the Company incurs directors and/or its employees and/or its representatives for any claims, damageclaim by third parties and/or for any loss, liability, costs or expenses which the Company or any third party may have incurred or paid in respect of any act or omission of the Client and/or its Authorised Representative / Attorney and/or due to the performance of the Agreement and/or the provision of any Services and/or the liquidation of any Financial Instruments of the Client in settlement of any claims of the Company. 31.15. The Client shall keep the Company indemnified against all expenses, which may arise incurred by the Company as a result of any error in relation to any instruction given by the execution Client or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of Company acting upon any instruction, submitted by the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due . 31.16. The Client shall reimburse to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept actually incurred losses caused by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. any failure by to provide (or delay in provision of) any documents (including, without any limitations, original copies of the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event documents previously sent via fax or any other cause beyond its control; 22.6.2. the acts, omissions or negligence of any third party; 22.6.3. any changes in the rates of tax; 22.6.4. in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research e-mail upon Company’s consent) that should have been provided pursuant to the Client (or Terms and for losses caused by provision of inadequate information contained in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given;documents.

Limitations of Liability and Indemnity. 22.1. 22.1 Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.2. 22.2 The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Strategy Manager and/or any person, firm or company from whom the Company receives instructions for the executionexecution of the Client’s Orders and/or from which Transactions are carried out on behalf of the Client, unless to the extend where this would be the result of gross negligence, willful default or fraud on the part of the Company. 22.3. 22.3 The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to gross negligence, willful default or fraud by the Company or its employees. 22.4. 22.4 If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. 22.5 The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. 22.6 The Company shall will not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. 22.6.1 any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. 22.6.2 the acts, omissions or negligence of any third party; 22.6.3. 22.6.3 any changes in the rates of tax; 22.6.4. 22.6.4 in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given. 22.6.5 currency risk; 22.6.6 the Client’s choice of a Strategy or Strategy Manager 22.7 The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses or damages the Client may suffer in relation to the Agreement.

Limitations of Liability and Indemnity. 22.131.1. The Company gives no warranty as to the performance and/or profitability of the Client’s investments or any part of it or any Investment Advice it provides the Client with. The Company cannot guarantee that the Financial Instruments and other assets acquired, following the provision of Investment Advice or otherwise, will not depreciate in value or that they will not be negatively affected by adverse tax consequences or for any other reason. 31.2. The Company shall not be liable for any act or omission or for the solvency of any counterparty, bank, custodian or other third party which acts on behalf of the Client or with or through whom transactions on behalf of the Client are carried out. 31.3. The Company shall not be liable for any loss suffered by the Client in connection with the Services it provides to the Client under this Agreement (and in particular, but without limitation, the Company shall not be liable for any loss which may arise from the purchase or sale of any Financial Instruments) unless such loss arises directly from the gross negligence, wilful default or fraud of the Company. 31.4. It is provided that the Company shall not be liable to the Client or any other person for any consequential, circumstantial, special or indirect damages (including without prejudice to the generality of the aforementioned, loss of profit, commercial losses and damages) which are incurred by the Client in connection with this Agreement. 31.5. The Company shall not be liable for any loss of opportunity as a result of which the value of the Financial Instruments of the Client could have increased or for any decrease in the value of the Financial Instruments of the Client, howsoever caused, save to the extent that such loss or decrease is directly due to the gross negligence, wilful default or fraud on the part of the Company and/or its directors and/or its employees and/or its representatives. 31.6. In the event the Company provides information, recommendations, news, information relating to transactions, market commentary or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise), the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any such information given. 31.7. The Company will not be held liable for any loss or damage or expense or loss incurred by the Client in relation to, or directly or indirectly arising from but not limited to: 1. Any error or failure or interruption or disconnection in the operation of the On-Line System (where this may be made available), any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. 2. Any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control. 3. The acts, omissions or negligence of any third party. 4. Any person obtaining the Client’s Access Data that the Company has issued to the Client prior to the Client’s reporting to the Company of the misuse of his Access Data. 5. Unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Access Data when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means. 6. Any of the risks of the Risks Disclosure and Warnings Notice. 7. Any changes in the rates of tax. 8. Any acts or omissions (including negligence and fraud) of the Client and/or his Authorized Representative. 9. For the Client’s or his Authorised Representative’s trading decisions. 10. All instructions given through and under and/or using the Client’s Access Data. 11. The contents, correctness, accuracy and completeness of any communication spread by the use of the On-Line System (where this may be made available). 12. The solvency, acts or omissions of any third party where the Company keeps Client Assets. 31.8. If the Company, its Directors, Officers, employees, Affiliates, or Agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the On-Line System(s) (where this may be made available), that the Company, its Directors, Officers, employees, Affiliates, or Agents bear no responsibility whatsoever, it is the Client’s responsibility to indemnify the Company for such. The Client shall keep the Company indemnified against all expenses, incurred by the Company as a result of any error in any Instruction given by the Client or as a result of the Company acting upon any Instruction, submitted by the Client. 31.9. The Company shall in no circumstances be liable to the Client or any other person for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses the Client may suffer in relation to the Agreement and the provision of the Services or the use of the On-Line System (where this may be made available). 31.10. The Company shall not be liable for any loss caused by misrepresentation of facts or by error of judgment or any act done or omitted to be done by the Company whenever caused, save to the extent that such act or omission is directly due to the gross negligence, wilful default or fraud on the part of the Company. 31.11. The Company’s cumulative liability to the Client shall not exceed the fees paid to the Company under this Agreement in relation to the particular Client for the Provision of the Services and/or use of the On- Line System (where this may be made available). 31.12. Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.231.13. The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the execution 22.3. The Company shall not be held liable for any loss of opportunity as a result of which the value execution of the Client’s Financial Instruments could increase or for any reduction in the value Orders and/or from which Transactions are carried out on behalf of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to extend where this would be the result of gross negligence, willful default or fraud by on the part of the Company. 31.14. Save in cases of gross negligence, wilful default or fraud on the part of the Company, the Client shall indemnify and keep indemnified the Company or and/or its employees. 22.4. If the Company incurs directors and/or its employees and/or its representatives for any claims, damageclaim by third parties and/or for any loss, liability, costs or expenses which the Company or any third party may have incurred or paid in respect of any act or omission of the Client and/or its Authorised Representative / Attorney and/or due to the performance of the Agreement and/or the provision of any Services and/or the liquidation of any Financial Instruments of the Client in settlement of any claims of the Company. 31.15. The Client shall keep the Company indemnified against all expenses, which may arise incurred by the Company as a result of any error in relation to any instruction given by the execution Client or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of Company acting upon any instruction, submitted by the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due . 31.16. The Client shall reimburse to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept actually incurred losses caused by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. The Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. any failure by to provide (or delay in provision of) any documents (including, without any limitations, original copies of the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event documents previously sent via fax or any other cause beyond its control; 22.6.2. the acts, omissions or negligence of any third party; 22.6.3. any changes in the rates of tax; 22.6.4. in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research e-mail upon Company’s consent) that should have been provided pursuant to the Client (or Terms and for losses caused by provision of inadequate information contained in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given;documents.

Limitations of Liability and Indemnity. 22.1. ‌ 22.1 Nothing in the Agreement shall exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. The provisions set out in the present clause shall be subject to the mandatory laws of Mauritius as amended from time to time. 22.2. 22.2 The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the execution 22.3. The Company shall not be held liable for any loss of opportunity as a result of which the value execution of the Client’s Financial Instruments could increase or for any reduction in the value Orders and/or from which Transactions are carried out on behalf of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to where this would be the result of gross negligence, willful default or fraud by on the Company or its employeespart of the Company. 22.4. If 22.3 Except in cases of gross negligence, willful default or fraud on the part of the Company, if the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. 22.4 The Company shall not be held liable for the loss on incurred by the Client, including the Client in cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. The 22.5 Except in cases of gross negligence, willful default or fraud on the part of the Company, the Company shall not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. any 22.5.1 Any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. the 22.5.2 The acts, omissions or negligence of any third party; 22.6.3. any 22.5.3 Any changes in the rates of tax; 22.6.4. in 22.5.4 In the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given; 22.5.5 Currency risk; 22.5.6 The Client’s choice of a Manager.

Limitations of Liability and Indemnity. 22.127.1. Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.227.2. The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Manager and/or any person, firm or company from whom the Company receives instructions for the executionexecution of the Client’s Orders and/or from which Transactions are carried out on behalf of the Client, unless to the extend where this would be the result of gross negligence, willful default or fraud on the part of the Company. 22.327.3. The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to gross negligence, willful default or fraud by the Company or its employees. 22.427.4. If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.527.5. The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.627.6. The Company shall will not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. (a) any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. (b) the acts, omissions or negligence of any third party; 22.6.3. (c) any changes in the rates of tax; 22.6.4. (d) in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given. (e) the solvency, acts or omissions of any third party referred to in clauses 13. (f) if a situation of clause 13.10. arises; (g) currency risk; 27.7. The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses or damages the Client may suffer in relation to the Agreement.

Limitations of Liability and Indemnity. 22.1. 22.1 Nothing in the Agreement shall will exclude or restrict any obligation or liability which the Company may have or owe to the Client under Applicable Regulations, nor any liability which the Company may incur under the Law or Applicable Regulations in respect of a breach of any such obligation, nor shall will anything in the Agreement require the Client to indemnify or compensate the Company to any extent prohibited by Applicable Regulations. 22.2. 22.2 The Company shall conclude Transactions in good faith and with due diligence but shall not be held liable for any omission, deliberate omission or fraud by a Strategy Manager and/or any person, firm or company from whom the Company receives instructions for the executionexecution of the Client’s Orders and/or from which Transactions are carried out on behalf of the Client, unless to the extend where this would be the result of gross negligence, willful default or fraud on the part of the Company. 22.3. 22.3 The Company shall not be held liable for any loss of opportunity as a result of which the value of the Client’s Financial Instruments could increase or for any reduction in the value of the Client’s Financial Instruments, regardless of how such decrease may arise, unless to the extent that such loss or reduction is directly due to gross negligence, willful default or fraud by the Company or its employees. 22.4. 22.4 If the Company incurs any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the disposal of the Client’s Financial Instruments in view of the satisfaction of any claims made by the Company or due to the non-fulfillment of any of the Client’s statements and/or Orders and/or instructions contained in the Agreement it is understood that the Company bears no responsibility whatsoever and it is the Client’s responsibility to indemnify the Company for such. 22.5. 22.5 The Company shall not be held liable for the loss on the Client, including the cases where the Client’s funds are kept by a third party such as a bank or other institution used as a payment provider, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by the Client, of any change in the said information. 22.6. 22.6 The Company shall will not be liable for any loss or expense incurred by the Client in connection with, or directly or indirectly arising from but not limited to: 22.6.1. (a) any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control; 22.6.2. (b) the acts, omissions or negligence of any third party; 22.6.3. (c) any changes in the rates of tax; 22.6.4. (d) in the event the Company provides news, market commentary, recommendations, information relating to Transactions or research to the Client (or in newsletters which it may post on its Website or provide to subscribers via its Website or otherwise) and the Client suffers any losses, costs, expenses or damages arising from any inaccuracy or mistake in any such information given. (e) currency risk; (f) the Client’s choice of a Strategy or Strategy Manager 22.7 The Company shall in no circumstances be liable to the Client for any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs, expenses or damages the Client may suffer in relation to the Agreement.