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. 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. 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.

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. 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.