Common use of Manner of custody Clause in Contracts

Manner of custody. Any Securities and other Investments which are held by us for your Account may, at our absolute discretion, be either: (a) registered in your name or in the name of our associated entity or register in accordance with the applicable laws of the jurisdiction which your Securities are held; or (b) deposited in safe custody in a segregated account (which is designated as a trust account or customer account) with (i) in relation to those of your Securities that are to be kept in Hong Kong, an authorized financial institution, an approved custodian or another intermediary licensed by the SFC that is permitted to hold customer assets, (ii) in relation to those of your Securities that are to be kept in a jurisdiction outside Hong Kong, an institution properly authorized by Applicable Laws and Regulations in such jurisdiction(s) applicable to us to hold such Securities (whether or not such Securities may have the same level of protection as those that are kept in Hong Kong). You acknowledge that any Securities or other Investments held by us for your Account shall be at your sole risk and we have no obligation to insure you against any kind of risk. We shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such engagement or custody under the above arrangement, including without limitation any losses arising from fraud or negligence of the party so engaged.

Manner of custody. Any Securities and other Investments which are held by us for your Account may, at our absolute discretion, be either: (aA) registered in your name or in the name of our associated entity or register in accordance with the applicable laws of the jurisdiction which your Securities are held; or (bB) deposited in safe custody in a segregated account (which is designated as a trust account or customer client account) with (i) in relation to those of your Securities that are to be kept in Hong Kong, an authorized financial institution, an approved custodian or another intermediary licensed by the SFC that is permitted to hold customer client assets, (ii) in relation to those of your Securities that are to be kept in a jurisdiction outside Hong Kong, an institution properly authorized by Applicable Laws and Regulations in such jurisdiction(s) applicable to us to hold such Securities (whether or not such Securities may have the same level of protection as those that are kept in Hong Kong). You acknowledge that any Securities or other Investments held by us for your Account shall be at your sole risk and we have no obligation to insure you against any kind of risk. We shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such engagement or custody under the above arrangement, including without limitation any losses arising from fraud or negligence of the party so engaged.