Common use of LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES Clause in Contracts

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. Customer agrees that if Customer fails to deposit and maintain sufficient Property in Customer's Account(s) to satisfy any margin requirement (whether original or variation), or whenever GAIN in GAIN's sole and absolute discretion deems it necessary for GAIN's protection, GAIN may, without prior demand or notice, liquidate the Commodity Interest positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and may be made without advertising or notice to Customer and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN may purchase the property free from any right of redemption and Customer shall not make any claim against GAIN concerning the manner or timing of the sale. Customer agrees that the proceeds of any transaction(s) effected under the provisions of this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section are insufficient for the payment of all Customer's liabilities due to GAIN, Customer shall promptly on demand pay the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreement, together with interest thereon equal to three percentage points above the then prevailing prime rate at GAIN's principal bank or twelve

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. Customer agrees that if Customer fails The Company, reserves the right to deposit and maintain sufficient Property terminate the relationship with the Client at any time and, in Customer's Account(s) to satisfy any margin requirement (whether original or variation)particular, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary for GAIN's protectionthe Company, GAIN may, without prior at its discretion, cancel trading orders, close open positions and demand or notice, settlement of any open Account balance at a date specified by the Company. To liquidate the Commodity Interest Client’s long or short positions, the Company, may, in its sole discretion, offset or initiate new long or short positions in Customer's Account(s) (includingorder to establish a spread, without limitation, by exchange strangle or straddle to improve protection or avoid reduction of futures for physical transaction(s)), hedge and/or offset such Commodity Interest existing positions in the cash market or otherwise or sell or otherwise liquidate Client’s account. the Company, may bid and become a purchaser at any Property belonging to Customer or in which Customer has an interestsuch sale. Customer agrees that GAIN may cancel Upon any sale of Customer's open orders the Client’s positions, the Company, shall collect the proceeds for the purchase or sale account of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and riskthe Client. Customer agrees that The proceeds from any such sale or purchase may be public or private and may be made without advertising or notice to Customer and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN may purchase the property free from any right of redemption and Customer shall not make any claim against GAIN concerning the manner or timing of the sale. Customer agrees that the proceeds of any transaction(s) effected under the provisions of this Section action shall be applied toward any indebtedness owed by Customer firstly to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section are insufficient for the payment of all Customer's legal and other costs and expenses incurred in connection with the sale or action, and secondly to the payment of the Client’s liabilities with the Company. The remaining balance shall be paid out to the Client. The Company NOTICES: The Client acknowledges and consents to receive monthly account statements, trade confirmations, and statements of close out of open positions required (“Notices”) in electronic form through the Internet. the Company, does not charge for this service, unless prior written notice is given to the Client. The Client reserves the right to revoke this consent at any time. SECURITY IN FAVOUR OF THE COMPANY, PLEDGE The Company, shall have a pledgee’s lien on and the right to set-off against all assets held for whatever purpose by the Company, for the account of the Client. Such lien and right to set-off shall secure all claims by the Company, of whatever nature, irrespective of their due date and of the currency in which they are labeled. the Company, is authorized to GAINrealize the pledged assets at private sale, without restriction and without being bound to observe the legal formalities required by the federal law on the recovery of debts and on bankruptcy if, in the opinion of the Company, the sale is necessary to cover claims secured by the pledge whether or not such claims are due and payable. PRIVACY POLICY NOTIFICATION The Client authorizes the Company, to gather information about the Client, including but not limited to transactions with the Company, and affiliated members of the Company, data provided in the Customer shall promptly on demand pay Agreement, Account balances, payment history, and Account activity or other information regarding creditability of the deficit Client. The Company, maintains appropriate security safeguards and all unpaid liabilities procedures regarding client information, such as passwords and charges access codes to prevent unauthorized access to the Client’s information, special training of employees to protect Client’s information, review of compliance with the Company, privacy policy. The Client acknowledges that the Company, may in accordance with the provisions of this Agreementanti-money laundering regulations share information concerning certain business relationships within the Company, together with interest thereon equal if it is essential to three percentage points above prevent and detect money laundering. The Client accepts that Client’s information will be disclosed to such third parties, including but not limited to financial institutions or financial service providers, and to the then prevailing prime rate at GAIN's principal bank extent necessary, in order to execute Client’s orders. The Client acknowledges that it might be required by law to disclose to receiving financial institutions (i) the Account holder’s name, (ii) the Account number and (iii) the Account holder’s address. the Company, is authorized to disclose information as may be required by law, rule or twelveregulatory authority, without prior notice to Client.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. Customer agrees that if Customer fails to deposit and maintain sufficient Property in Customer's Account(s) to satisfy any margin requirement (whether original or variation), or whenever GAIN Capital in GAINGAIN Capital's sole and absolute discretion deems it necessary for GAINGAIN Capital's protection, GAIN Capital may, without prior demand or notice, liquidate the Commodity Interest positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN Capital may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and may be made without advertising or notice to Customer and in such manner as GAIN Capital may, in GAINGAIN Capital's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN Capital makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN Capital may purchase the property free from any right of redemption and Customer shall not make any claim against GAIN Capital concerning the manner or timing of the sale. Customer agrees that the proceeds of any transaction(s) effected under the provisions of this Section shall be applied toward any indebtedness owed by Customer to GAINGAIN Capital. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section are insufficient for the payment of all Customer's liabilities due to GAINGAIN Capital, Customer shall promptly on demand pay the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreement, together with interest thereon equal to three percentage points above the then prevailing prime rate at GAINGAIN Capital's principal bank or twelvetwelve (12) percent per annum, whichever is higher. Customer agrees that Customer is responsible for all costs of collection of such deficit balances including, without limitation, all expenses, attorneys' fees, pre‐judgment interest, witness fees and travel expenses.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the CUSTOMER AGREEMENT 6 institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by AMG MARKETS LIMITED , (d) insufficient margin, or AMG MARKETS LIMITED 's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerAMG MARKETS LIMITED 's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in AMG MARKETS LIMITED 's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of AMG MARKETS LIMITED 's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate AMG MARKETS LIMITED may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in AMG MARKETS LIMITED ’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to AMG MARKETS LIMITED ’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN AMG MARKETS LIMITED may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by AMG MARKETS LIMITED and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by AMG MARKETS LIMITED or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINAMG MARKETS LIMITED , Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's AMG MARKETS LIMITED ’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event AMG MARKETS LIMITED incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses. CUSTOMER AGREEMENT 7

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by IMGFX LTD, (d) insufficient margin, or IMGFX LTD's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerIMGFX LTD's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in IMGFX LTD's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of IMGFX LTD's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate IMGFX LTD may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in IMGFX LTD’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to IMGFX LTD’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN IMGFX LTD may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by IMGFX LTD and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by IMGFX LTD or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINIMGFX LTD, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's IMGFX LTD’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event IMGFX LTD incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by FXPRIMUS, (d) insufficient margin, or FXPRIMUS's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerFXPRIMUS's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in FXPRIMUS's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of FXPRIMUS's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate FXPRIMUS may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in FXPRIMUS’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to FXPRIMUS’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN FXPRIMUS may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by FXPRIMUS and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by FXPRIMUS or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINFXPRIMUS, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's FXPRIMUS’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event FXPRIMUS incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by HILLTOP BOLSA INTERNATIONAL LIMITED, (d) insufficient margin, or HILLTOP BOLSA INTERNATIONAL LIMITED's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerHILLTOP BOLSA INTERNATIONAL LIMITED's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in HILLTOP BOLSA INTERNATIONAL LIMITED's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of HILLTOP BOLSA INTERNATIONAL LIMITED's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate HILLTOP BOLSA INTERNATIONAL LIMITED may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in HILLTOP BOLSA INTERNATIONAL LIMITED’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to HILLTOP BOLSA INTERNATIONAL LIMITED’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted CUSTOMER AGREEMENT 8 or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN HILLTOP BOLSA INTERNATIONAL LIMITED may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by HILLTOP BOLSA INTERNATIONAL LIMITED and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by HILLTOP BOLSA INTERNATIONAL LIMITED or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINHILLTOP BOLSA INTERNATIONAL LIMITED, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's HILLTOP BOLSA INTERNATIONAL LIMITED’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event HILLTOP BOLSA INTERNATIONAL LIMITED incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. Customer agrees that if Customer fails to deposit and maintain sufficient Property in Customer's Account(s) to satisfy any margin requirement (whether original or variation), or whenever GAIN OEC in GAINOEC's sole and absolute discretion deems it necessary for GAINOEC's protection, GAIN OEC may, without prior demand or notice, liquidate the Commodity Interest positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN OEC may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and may be made without advertising or notice to Customer and in such manner as GAIN OEC may, in GAINOEC's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN OEC makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN OEC may purchase the property free from any right of redemption and Customer shall not make any claim against GAIN OEC concerning the manner or timing of the sale. Customer agrees that the proceeds of any transaction(s) effected under the provisions of this Section shall be applied toward any indebtedness owed by Customer to GAINOEC. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section are insufficient for the payment of all Customer's liabilities due to GAINOEC, Customer shall promptly on demand pay the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreement, together with interest thereon equal to three percentage points above the then prevailing prime rate at GAINOEC's principal bank or twelve

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. Customer agrees that if Customer fails to deposit and maintain sufficient Property In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in Customer's Account(s) to satisfy any margin requirement (whether original or variation)bankruptcy, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary a petition for GAIN's the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by Xxxxxx, (d) insufficient margin, or Xxxxxx’s determination that any collateral deposited to protect one or more accounts of Customer is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement or any applicable law; or (f) any Abusing Trading practices, manipulations and/or fraud by Customer or any other person authorized to use the account; or (g) any other circumstances or developments that we deem appropriate for its protection, GAIN mayand in Tample’s sole discretion, it may take one or more, or any portion of, the following actions: Satisfy any obligation Customer may have to us, either directly or by way of guaranty of suretyship, out of any of Customer’s funds or property in Tample’s custody or control; Cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of Tample’s right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate Tample may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in Tample’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to Xxxxxx’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN Tample may purchase the property whole or any part thereof free from any right of redemption and Customer shall not make any claim against GAIN concerning the manner redemption. For Customer's protection, Equity or timing Net Liquidation Value of the sale. Customer agrees that Customer's trading account drops below the proceeds Minimum Margin Requirement, all of any transaction(s) effected under the provisions of this Section Customer's open transactions shall be applied toward any indebtedness owed by Customer automatically closed, whether at a loss or a profit. The Minimum Margin Requirement is equal to GAIN50% of the Required Margin. Customer agrees to accept full responsibility for any remaining deficit balances If the amount in Customer's Account(strading account is zero (for any reason), Tample, in its sole discretion, shall nullify and close the account. Neither Tample nor any of its subsidiaries, affiliates or agents shall be responsible for any loss or damage caused due to closing of positions in accordance with the above. Customer agrees that if shall at all times be liable for the payment of any deficit balance of Customer upon demand by Xxxxxx and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the event of the liquidation thereof in whole or in part by Tample or by Customer. In the event the proceeds of any transaction(s) effected under realized pursuant to this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINTample, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's Tample’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event Tample incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses. FEES/CHARGES Fees arising out of Tample providing services are outlined in the Admin Fees page presented in the Website. Customer is aware that a part of Tample’s revenues derives from the spread on each transaction. The spread is the difference between the bid & the ask price of the price quote on a transaction. The standard spreads for all instruments are listed on our Website. Tample may increase or decrease spreads on any or all instruments, at its sole discretion, at any time without notification due to various mitigating factors – market sentiment, news times or announcements, trading volumes, market volatility and/or additional internal or external factors. This may be effected on an individual client basis or for all clients simultaneously. Where a customer requests a specific fee structure, a commission may be payable by Customer to open and close CFDs. Such commission payable will be debited from Customer's account at the same time as Tample opens or closes the relevant CFDs. Where we increase or introduce any new charges, we will post the changes on our Website at least 5 days before they take effect. We may also charge for incidental banking-related fees such as wire charges for deposits/withdrawals. In certain circumstances additional fees may include such things as statement charges, order cancellation charges, account transfer charges, telephone order charges or fees imposed by any interbank agency, bank, contract, market or other regulatory or self-regulatory organizations arising out of Tample’s provision of services hereunder. Customer may incur additional fees for the purchase of optional, value added services we offer. Rollovers, overnight interest (also known as "swaps"): A daily financing charge may apply to each CFDs open position at the closing of Tample’s trading day as regards that CFD. If such financing charge is applicable, it will either be requested to be paid by Customer directly to Tample or it will be paid by Tample to Customer, depending on the type of CFDs and the nature of the position Customer holds. The method of calculation of the financing charge varies according to the type of CFDs to which it applies. Moreover, the amount of the financing charge will vary as it is linked to current interest rates (such as LIBOR). The financing charge will be credited or debited (as appropriate) to Customer's account on the next trading day following the day to which it relates. Tample reserves the right to change the method of calculating the financing charge, the financing rates and/or the types of CFDs to which the financing charge applies. For certain types of CFDs, a commission is payable by Customer to open and close CFDs. Such commission payable will be debited from Customer's account at the same time as Tample opens or closes the relevant CFDs. Trades in CFDs are linked to the market price of a certain base asset, including the market price of future contracts. A few days prior to the expiration date of the base asset to which the CFD is linked, the base asset shall be replaced with another asset, and the quotation of the CFD shall change accordingly. CFDs does not have an expiration date. Trades in CFDs are continuous and the base assets to which they are linked vary from time to time. Tample reserves the right to determine the base asset to which CFDs is linked, the date of replacement of the base asset, and the replacement conditions. Following the replacement of the base asset, the quotation of the CFDs shall be adjusted, and the Customer's account shall be credited or debited, as applicable, in accordance with the difference in quotations created due to the replacement of the base asset. The difference in quotations between the base assets is affected by the difference in rates between selling and buying of such assets in the market, and therefore the revaluation of selling and buying transactions shall be in different values. Customers will incur costs in relation to the spread cost in closing the contract and opening the new contract and a Standard Overnight Interest charge. In most cases, the debits shall be higher than credits. Any open transaction held by Customer at the end of the trading day as determined by Tample or over the weekend, shall automatically be rolled over to the next business day so as to avoid an automatic close and physical settlement of the transaction. Customer acknowledges that when rolling over such transactions to the next business day, overnight interest may be either added or subtracted from Customer's account with respect to such transaction. The overnight interest amount shall be determined by Xxxxxx from time to time, in Xxxxxx's absolute discretion. Customer hereby authorizes Xxxxxx to add or subtract the overnight interest to or from Customer's account for any open transaction that have accrued overnight interest, in accordance with the applicable rate thereto, each day at the time of collection specified on the trading platform for each individual instrument, as applicable. Full information related to applicable charges can be found on the Website. COMMUNICATIONS, STATEMENTS AND CONFIRMATIONS Reports, statements, notices, trade confirmations, and any other communications will be posted online and may be transmitted to such address as Customer may from time to time designate in a written or electronic communication to Tample. Customer is responsible for alerting Tample to any change in its e-mail address. Communications are deemed received when made available to Customer by Xxxxxx, regardless of whether Customer actually accessed the statement. Customer will be able to generate daily, monthly and annual account statements detailing transaction activity, profit and loss statements, open positions, margin balances, account credits and debits. Customer understands that it must carefully review the reports relating to Customer’s trading posted online by Xxxxxx. Reports of the confirmation of orders and statements of accounts for Customer posted online by Xxxxxx shall be deemed correct and shall be conclusive and binding upon Customer if not objected to within two business days of the posting online. Objections may be made initially by email or by telephone, but must be confirmed thereafter in writing. If Customer becomes aware of an error with respect to any report or statement, such as amounts erroneously credited to Customer, Customer shall immediately inform Xxxxxx and is responsible to return such amount to Tample, and if Tample becomes aware of such occurrence, Tample is expressly authorized to correct such error by correcting such report or statement, and, if applicable, treating this as a Deficit Balance. Customer declares that by providing its registration data to Tample it hereby consents to, Tample, its subsidiaries, affiliates and agents sending, and Customer receiving, by means of telephone, facsimile, SMS or e-mail, communications containing content of a commercial nature relating to Customer's use of the trading platform, including information and offers from Tample or third parties that Tample believes Customer may find useful or interesting, such as newsletters, marketing or promotional materials. Customer acknowledges that Tample does not have to separately obtain Customer's prior consent (whether written or oral) before distributing such communications to Customer, provided that Tample shall cease to distribute such communications should Customer notify Tample in writing that Customer no longer desires to receive such commercial communication. Client statements can be generated by the client at any time on the on-line trading platform. These statements will record the time the order was executed and the balance of their account. Our internal records will state the time the order was requested from the client. Tample will also provide the client with a statement on an annual basis outlining the details of funds held by the firm for the client at end of the period covered by the statement. Statements will also show all charges applied during the period covered by the statement, if any. Real time access to each client’s account showing transactions, the time orders were filled and the balance on the client’s account will also be available to customers.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by BLUE OCEAN FINANCIALS LIMITED, (d) insufficient margin, or BLUE OCEAN FINANCIALS LIMITED's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other CUSTOMER AGREEMENT 6 circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerBLUE OCEAN FINANCIALS LIMITED's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in BLUE OCEAN FINANCIALS LIMITED's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of BLUE OCEAN FINANCIALS LIMITED's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate BLUE OCEAN FINANCIALS LIMITED may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in BLUE OCEAN FINANCIALS LIMITED’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to BLUE OCEAN FINANCIALS LIMITED’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN BLUE OCEAN FINANCIALS LIMITED may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by BLUE OCEAN FINANCIALS LIMITED and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by BLUE OCEAN FINANCIALS LIMITED or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINBLUE OCEAN FINANCIALS LIMITED, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's BLUE OCEAN FINANCIALS LIMITED’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event BLUE OCEAN FINANCIALS LIMITED incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.

LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES. In the event of (a) the death or judicial declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s accounts carried by BLUE OCEAN FINANCIALS LIMITED, (d) insufficient margin, or BLUE OCEAN FINANCIALS LIMITED's determination that any collateral deposited to protect one or more accounts of Customer agrees is inadequate, regardless of current market quotations, to secure the account; (e) Customer’s failure to provide us with any information requested pursuant to this agreement; or (f) any other circumstances or developments that if Customer fails to deposit we deem appropriate for its protection, and maintain sufficient Property in CustomerBLUE OCEAN FINANCIALS LIMITED's Account(ssole discretion, it may take one or more, or any portion of, the following actions: (a) to satisfy any margin requirement obligation Customer may have to us, either directly or by way of guaranty of surety ship, out of any of Customer’s funds or property in BLUE CUSTOMER AGREEMENT 6 OCEAN FINANCIALS LIMITED's custody or control; (whether original b) sell any or variation)purchase any or all Currency contracts, securities held or carried for Customer; and (c) cancel any or all outstanding orders or contracts, or whenever GAIN in GAIN's sole and absolute discretion deems it necessary any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for GAIN's protection, GAIN maymargin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely Customer’s or held jointly with others. Prior demand or noticenotice of sale or purchase shall not be considered a waiver of BLUE OCEAN FINANCIALS LIMITED's right to sell or buy at any time in the future without demand or notice as provided above. In liquidation of Customer’s long or short positions, liquidate BLUE OCEAN FINANCIALS LIMITED may, in its sole discretion, offset in the Commodity Interest same settlement or it may initiate new long or short positions in order to establish a hedge which in BLUE OCEAN FINANCIALS LIMITED’s sole judgment may be advisable to protect or reduce existing positions in Customer's Account(s) (including, without limitation, by exchange of futures for physical transaction(s)), hedge and/or offset such Commodity Interest positions in the cash market ’s account. Any sales or otherwise or sell or otherwise liquidate any Property belonging to Customer or in which Customer has an interest. Customer agrees that GAIN may cancel any of Customer's open orders for the purchase or sale of any Commodity Interest or buy or borrow any property required to make delivery against any such sales, including a short sale, all solely for Customer's Account(s) and risk. Customer agrees that any such sale or purchase may be public or private and purchases hereunder may be made without advertising according to BLUE OCEAN FINANCIALS LIMITED’s judgment and at its discretion with any interbank or notice to Customer other exchange market where such business is then usually transacted or at a public auction or private sale, and in such manner as GAIN may, in GAIN's sole and absolute discretion, determine. Customer agrees that no demands, tenders or notices which GAIN makes or gives to Customer shall invalidate Customer's aforesaid waiver of the same. Customer agrees that at any such sale GAIN BLUE OCEAN FINANCIALS LIMITED may purchase the property whole or any part thereof free from any right of redemption and redemption. Customer shall not make at all times be liable for the payment of any claim against GAIN concerning deficit balance of Customer upon demand by BLUE OCEAN FINANCIALS LIMITED and in all cases, Customer shall be liable for any deficiency remaining in Customer’s account(s) in the manner or timing event of the saleliquidation thereof in whole or in part by BLUE OCEAN FINANCIALS LIMITED or by Customer. Customer agrees that In the event the proceeds of any transaction(s) effected under the provisions of realized pursuant to this Section shall be applied toward any indebtedness owed by Customer to GAIN. Customer agrees to accept full responsibility for any remaining deficit balances in Customer's Account(s). Customer agrees that if the proceeds of any transaction(s) effected under this Section authorization are insufficient for the payment of all Customer's liabilities of Customer due to GAINBLUE OCEAN FINANCIALS LIMITED, Customer shall promptly on demand pay upon demand, the deficit and all unpaid liabilities and charges in accordance with the provisions of this Agreementliabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at GAIN's BLUE OCEAN FINANCIALS LIMITED’s principal bank or twelvethe maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney’s fees, witness fees, travel expenses and the like. In the event BLUE OCEAN FINANCIALS LIMITED incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer agrees to pay such expenses.