Common use of Locates Clause in Contracts

Locates. By entering into this Agreement, the Broker will grant you the ability to locate HTB Stocks through multiple vendors. Your acceptance of a locate for a short sale order does not guarantee that the necessary shares will be delivered to the Clearing Firms for settlement of your short sale transaction. The Broker, at its sole discretion, may elect to buy in some or all of the shares necessary to cover your short position at any time, including on the trade date in which your short position was established, and at any time or date thereafter. By entering into a short position, you agree that you take on full financial and market risk, including the risk that you may incur losses as a result of the Broker buying in your short position. HTB Fees By entering into this Agreement, you acknowledge that you may incur significant fees by selling securities short in your account. When you accept a locate for a HTB Stock, you will be charged a locate fee (“HTB/Locate Fee”) for each day you maintain a short position. The HTB/Locate fee is charged the moment you accept a locate on a HTB Stock, even if you never enter an order to sell short the located security. If you hold a located HTB Stock overnight, you will incur an overnight fee (“Overnight Fee”). All charges for Locates and Hard to Borrow fees will be reflected on your monthly brokerage statement. The Overnight Fee is in addition to the Locate Fee. The Locate Fee and Overnight Fee will be billed on a daily and/or monthly basis appearing on your statement collectively as “HTB Fees”. Locate/HTB Fees are completely separate from the short interest fees that the Clearing Firms may charge your account for holding short positions overnight. The amount of the HTB/Locate Fee is determined by the broker dealer that is providing the locate. However, the Broker may participate in volume discounts offered by the locate provider when applicable.

Locates. By entering into this Agreement, the Broker will grant you the ability to locate HTB Stocks through multiple vendorsaway from the Clearing Firms. Your acceptance of a locate for a short sale order does not guarantee that the necessary shares will be delivered to the Clearing Firms for settlement of your short sale transaction. The BrokerBroker or the Clearing Firm, at its sole discretion, may elect to buy in some or all of the shares necessary to cover your short position at any time, including on the trade date in which your short position was established, and at any time or date thereafter. By entering into a short position, you agree that you take on full financial and market risk, including the risk that you may incur losses as a result of the Broker buying in your short position. HTB Fees By entering into this Agreement, you acknowledge that you may incur significant fees by selling securities short in your account. When you accept a locate for a HTB Stock, you will be charged a locate fee based on the price per share quoted and the quantity of shares accepted (“HTB/Locate Fee”) for each day you maintain a short position). The HTB/Locate fee Fee is charged the moment you accept a locate on a HTB Stock, even if you never enter an order to sell short the located security. If you hold a located HTB Stock overnight, you will incur an overnight fee (“Overnight Fee”). All charges for Locates and Hard to Borrow fees will be reflected on your monthly brokerage statement. The Overnight Fee is in addition to the Locate FeeFee and is calculated as a product of the price of the initial Locate Fee multiplied by the amount of nights between trade date and settlement date. For example, if you locate a HTB Stock and the Locate Fee is $50, holding that stock overnight on a Monday will result in the initial $50 charge for the Locate Fee and, assuming a Wednesday settlement date, a $100 Overnight Fee ($50 times two nights between trade date and settlement date). This same formula creates a higher multiple when a weekend falls between trade date and settlement date. For example, the Overnight Fee for a locate obtained on Friday will typically be the Locate Fee multiplied by four (four nights between Friday trade date and Tuesday settlement date). The Locate Fee and Overnight Fee will be billed on a daily and/or monthly basis appearing and will appear on your statement collectively as “HTB Fees”. Locate/.” HTB Fees are completely separate from the short interest fees that the Clearing Firms may charge your account for holding short positions overnight. The amount of the HTB/Locate Fee is determined by the broker dealer that is providing the locate. However, the Broker may does participate in volume discounts offered by the locate provider when applicable.

Locates. By entering into this Agreement, the Broker will grant you the ability to locate HTB Stocks through multiple vendorsaway from the Clearing Firms. Your acceptance of a locate for a short sale order does not guarantee that the necessary shares will be delivered to the Clearing Firms for settlement of your short sale transaction. The Broker, at its sole discretion, may elect to buy in some or all of the shares necessary to cover your short position at any time, including on the trade date in which your short position was established, and at any time or date thereafter. By entering into a short position, you agree that you take on full financial and market risk, including the risk that you may incur losses as a result of the Broker buying in your short position. HTB Fees By entering into this Agreement, you acknowledge that you may incur significant fees by selling securities short in your account. When you accept a locate for a HTB Stock, you will be charged a locate fee (“HTB/Locate Fee”) for each day you maintain a short position). The HTB/Locate fee is charged the moment you accept a locate on a HTB Stock, even if you never enter an order to sell short the located security. If you hold a located HTB Stock overnight, you will incur an overnight fee (“Overnight Fee”). All charges for Locates and Hard to Borrow fees will be reflected on your monthly brokerage statement. The Overnight Fee is in addition to the Locate Fee and is calculated as three times the Locate Fee. For example, if you locate an HTB Stock and the Locate Fee is $50, holding that stock overnight will result in total charges of $200 ($50 Locate Fee + $150 Overnight Fee). The Locate Fee and Overnight Fee will be billed on a daily and/or monthly basis appearing and will appear on your statement collectively as “HTB Fees”. Locate/HTB Fees are completely separate from the short interest fees that the Clearing Firms may charge your account for holding short positions overnight. The amount of the HTB/Locate Fee is determined by the broker dealer that is providing the locate. However, the Broker may does participate in volume discounts offered by the locate provider when applicable. Please note that locate provider Velocity Capital, LLC is affiliated with the Broker through common ownership. Short Interest Fees The Clearing Firms will charge you short interest fees that are separate and unrelated to the HTB Fees charged by the Broker. The Clearing Firms calculate short interest, and the total charges are dependent upon various factors such as the size of your short position, the price of the underlying security, the number of days between settlement of the short sale transaction and settlement of the buy to cover transaction, and the short interest rate. The short interest rate is variable and may change from day to day without notice. Increases in the short interest rates may be extreme, especially when there is considerable volatility in a given security. Furthermore, the Clearing Firms do not give advanced notice to the Broker when a short interest rate will be changing. You can get the short interest rate for a given symbol on a specific date by contacting the Broker. However, the rate provided to you will only be applicable for that given date and may change the following day. By signing below, you acknowledge and agree to the terms and conditions described herein.

Locates. By entering into this Agreement, the Broker will grant you the ability to locate HTB Stocks through multiple vendorsaway from the Clearing Firms. Your acceptance of a locate for a short sale order does not guarantee that the necessary shares will be delivered to the Clearing Firms for settlement of your short sale transaction. The BrokerBroker or the Clearing Firm, at its sole discretion, may elect to buy in some or all of the shares necessary to cover your short position at any time, including on the trade date in which your short position was established, and at any time or date thereafter. By entering into a short position, you agree that you take on full financial and market risk, including the risk that you may incur losses as a result of the Broker buying in your short position. HTB Fees By entering into this Agreement, you acknowledge that you may incur significant fees by selling securities short in your account. When you accept a locate for a HTB Stock, you will be charged a locate fee based on the price per share quoted and the quantity of shares accepted (“HTB/Locate Fee”) for each day you maintain a short position). The HTB/Locate fee Fee is charged the moment you accept a locate on a HTB Stock, even if you never enter an order to sell short the located security. If you hold a located HTB Stock overnight, you will incur an overnight fee (“Overnight Fee”). All charges for Locates and Hard to Borrow fees will be reflected on your monthly brokerage statement. The Overnight Fee is in addition to the Locate FeeFee and is calculated as a product of the price of the initial Locate Fee multiplied by 4. The Locate Fee and Overnight Fee will be billed on a daily and/or monthly basis appearing and will appear on your statement collectively as “HTB Fees”. Locate/.” HTB Fees are completely separate from the short interest fees that the Clearing Firms may charge your account for holding short positions overnight. The amount of the HTB/Locate Fee is determined by the broker dealer that is providing the locate. However, the Broker may does participate in volume discounts offered by the locate provider when applicable.