Common use of NETTING AGREEMENT Clause in Contracts

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd decides to close the Contracts. 13.6 Tickmill Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 11.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd the Company in accordance with the principles referred to in Clause 119.0. 13.2 11.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 11.3 If the ClientCustomer, at any time during the Client Customer relationship, has a negative cash-cash- balance in any Account, Tickmill Ltd the Company is entitled but not obligated to net between the ClientCustomer's Accounts. The Client Customer shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 11.4 If the Client Customer relationship is terminated according to Clause 2424.0, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 11.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd the Company decides to close the Contracts. 13.6 Tickmill Ltd 11.6 The Company may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 11.7 When determining the value of the Contracts to be netted, Tickmill Ltd the Company shall apply its usual spreads and include all costs and other charges. 13.8 11.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client customer relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's party`s obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Aglobe Investments Ltd in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Aglobe Investments Ltd is entitled but not obligated to net between the Client's Client`s Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 2425, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Aglobe Investments Ltd decides to close the Contracts. 13.6 Tickmill Aglobe Investments Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Aglobe Investments Ltd shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd U TRADE MARKETS in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd U TRADE MARKETS is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 2423, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd U TRADE MARKETS decides to close the Contracts. 13.6 Tickmill Ltd U TRADE MARKETS may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd U TRADE MARKETS shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Asia Ltd in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Asia Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Asia Ltd decides to close the Contracts. 13.6 Tickmill Asia Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Asia Ltd shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 13.1. If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd EVM PRIME in accordance with the principles referred to in Clause 11. 13.2 13.2. If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 13.3. If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd EVM PRIME is entitled but not obligated to net between the ClienttheClient's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 13.4. If the Client relationship is terminated according to Clause 24Xxxxxx 23, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 13.5. Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd EVM PRIME decides to close the Contracts. 13.6 Tickmill Ltd 13.6. EVM PRIME may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 13.7. When determining the value of the Contracts to be netted, Tickmill Ltd EVM PRIME shall apply its usual spreads and include all costs and other charges. 13.8 13.8. This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd EVA MARKETS in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd EVA MARKETS is entitled but not obligated to net between the ClienttheClient's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 2423, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd EVA MARKETS decides to close the Contracts. 13.6 Tickmill Ltd EVA MARKETS may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd EVA MARKETS shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd Bofinassets in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd Bofinassets is entitled but not obligated to net between netbetween the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd Xxxxxxxxxxx decides to close the ContractstheContracts. 13.6 Tickmill Ltd Bofinassets may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd Bofinassets shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd Pacific Union Limited in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-cash- balance in any Account, Tickmill Ltd Junle Capital Limited is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd Junle Capital Limited decides to close the Contracts. 13.6 Tickmill Ltd Junle Capital Limited may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd Junle Capital Limited shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 14.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Benor Capital Ltd in accordance with the principles referred to in Clause 1110. 13.2 14.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 14.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Benor Capital Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 14.4 If the Client relationship is terminated according to Clause Xxxxxx 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 14.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Benor Capital Ltd decides to close the Contracts. 13.6 Tickmill 14.6 Benor Capital Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 . When determining the value of the Contracts to be netted, Tickmill Benor Capital Ltd shall apply its usual spreads and include all costs and other charges. 13.8 14.7 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd Omega4x in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd Omega4x is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd Omega4x decides to close the ContractstheContracts. 13.6 Tickmill Ltd Omega4x may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd Omega4x shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 14.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Benor Capital Ltd in accordance with the principles referred to in Clause 11. 13.2 14.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 14.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Benor Capital Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 14.4 If the Client relationship is terminated according to Clause Xxxxxx 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 14.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Benor Capital Ltd decides to close the Contracts. 13.6 Tickmill 14.6 Benor Capital Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 14.7 When determining the value of the Contracts to be netted, Tickmill Benor Capital Ltd shall apply its usual spreads and include all costs and other charges. 13.8 14.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd ZAINFXM in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd ZAINFXM is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd ZAINFXM decides to close the Contracts. 13.6 Tickmill Ltd ZAINFXM may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd ZAINFXM shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Benor Capital Ltd in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Benor Capital Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause Xxxxxx 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Benor Capital Ltd decides to close the Contracts. 13.6 Tickmill Benor Capital Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Benor Capital Ltd shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd XXXX GLOBAL LIMITED in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd XXXX GLOBAL LIMITED is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24Xxxxxx 23, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd XXXX GLOBAL LIMITED decides to close the Contracts. 13.6 Tickmill Ltd XXXX GLOBAL LIMITED may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd XXXX GLOBAL LIMITED shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 ‌ 11.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd the Company in accordance with the principles referred to in Clause 119.0. 13.2 11.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 11.3 If the ClientCustomer, at any time during the Client Customer relationship, has a negative cash-cash- balance in any Account, Tickmill Ltd the Company is entitled but not obligated to net between the ClientCustomer's Accounts. The Client Customer shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 11.4 If the Client Customer relationship is terminated according to Clause 2424.0, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 11.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd the Company decides to close the Contracts. 13.6 Tickmill Ltd 11.6 The Company may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 11.7 When determining the value of the Contracts to be netted, Tickmill Ltd the Company shall apply its usual spreads and include all costs and other charges. 13.8 11.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client customer relationship.

NETTING AGREEMENT. 13.1 11.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's ’s obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd the Company in accordance with the principles referred to in Clause 119.0. 13.2 11.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 11.3 If the ClientCustomer, at any time during the Client Customer relationship, has a negative cash-cash- balance in any Account, Tickmill Ltd the Company is entitled but not obligated to net between the Client's Customer’s Accounts. The Client Customer shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 11.4 If the Client Customer relationship is terminated according to Clause 2424.0, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 11.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd the Company decides to close the Contracts. 13.6 Tickmill Ltd 11.6 The Company may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 11.7 When determining the value of the Contracts to be netted, Tickmill Ltd the Company shall apply its usual spreads and include all costs and other charges. 13.8 11.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client customer relationship.. xxx.xxxxxxxxxxxxxx.xxx | xxxx@xxxxxxxxxxxxxx.xxx | Xxxx X00, Xxxxxx Xxxxxxxx, Xx Xxxxxx Xx La Fraternite, Ile Du Port, Seychelles 30 GEMFOREX LIMITED / Client service Agreement

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd ZAINFX FINCROP LTD in accordance with the principles referred to in Clause 11.Clause 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd ZAINFX FINCROP LTD is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 24, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd ZAINFX FINCROP LTD decides to close the Contracts. 13.6 Tickmill Ltd ZAINFX FINCROP LTD may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Ltd ZAINFX FINCROP LTD shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Oneprime Ltd in accordance with the principles referred to in Clause 11. 13.2 If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Oneprime Ltd is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 If the Client relationship is terminated according to Clause 2423, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Oneprime Ltd decides to close the Contracts. 13.6 Tickmill Oneprime Ltd may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 When determining the value of the Contracts to be netted, Tickmill Oneprime Ltd shall apply its usual spreads and include all costs and other charges. 13.8 This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.

NETTING AGREEMENT. 13.1 If on any date the same amounts are payable under this Agreement by each party to the other in the same currency, then, each party's obligations to make payment of any such amount will be automatically satisfied by netting. If the amounts are not in the same currency, the amounts are converted by Tickmill Ltd Bluesuisse Markets Limited in accordance with the principles referred to in Clause 11. 13.2 17. If the aggregate amount that is payable by one party exceeds the aggregate amount that is payable by the other party, then the party by whom the larger aggregate amount is payable shall pay the excess to the other party and the obligations to make payment of each party will be satisfied and discharged. 13.3 . If the Client, at any time during the Client relationship, has a negative cash-balance in any Account, Tickmill Ltd Bluesuisse Markets Limited is entitled but not obligated to net between the Client's Accounts. The Client shall bear all the charges and any other costs associated with such netting in accordance with the Commissions, Charges & Margin Schedule. 13.4 . If the Client relationship is terminated according to Clause 24Xxxxxx 27, the claims that the parties have against each other shall be finally discharged by means of netting (closed). The value of open Contracts shall be determined according to the principles set forth below and the final amount to be paid by one of the parties shall be the difference between the payment obligations of the parties. 13.5 . Rates based on which the Contracts shall be closed shall be market rates applicable on the day on which Tickmill Ltd Bluesuisse Markets Limited decides to close the Contracts. 13.6 Tickmill Ltd . Bluesuisse Markets Limited may at its reasonable discretion determine the rates by obtaining an offer from a Market Maker in the asset in question or by applying rates from electronic financial information systems. 13.7 . When determining the value of the Contracts to be netted, Tickmill Ltd the Company shall apply its usual spreads and include all costs and other charges. 13.8 . This netting agreement shall be binding towards the estate and creditors of the parties to the client relationship.