Common use of Netting and Set-Off Clause in Contracts

Netting and Set-Off. 15.7.1 The Agreements and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account are closed under the Agreements, we may: (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with us; and (b) set-off against each other the amounts referred to below: • any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; • any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.

Netting and Set-Off. 15.7.1 The Agreements and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account are closed under the Agreements, we may:may:‌ (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with us; and (b) set-off against each other the amounts referred to below: • any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; • any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.

Netting and Set-Off. 15.7.1 The Agreements and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account are closed under the Agreements, we may: (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with us; and (b) set-off against each other the amounts referred to below: • any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; • any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your toyour Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.

Netting and Set-Off. 15.7.1 The Agreements Agreement and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements Agreement and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account Account(s) are closed under the AgreementsAgreement, we may: (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with usAccounts; and (b) set-off against each other the amounts referred to below: •  any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; •  any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.

Netting and Set-Off. 15.7.1 The Agreements Agreement and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements Agreement and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account Account(s) are closed under the AgreementsAgreement, we may: (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with usAccounts; and (b) set-off against each other the amounts referred to below: •  any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; •  any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.

Netting and Set-Off. 15.7.1 The Agreements and all trades under them form part of a singular agreement between you and us, and both parties acknowledge that we enter into the Agreements and any trades under them in reliance upon these being a singular agreement. 15.7.2 When open Positions and/or your Account are closed under the Agreements, we may:may:‌ (a) combine and consolidate your cash and any money we hold for you in all of the Accounts you may have with us; and (b) set-off against each other the amounts referred to below: • any amounts that are payable by us to you, regardless of how and when payable, including your cash (if a credit balance), unrealised profits and any credit balance held on any Account even if any of these Accounts have been closed; closed;‌ • any amounts that are payable by you to us, regardless of how and when payable, including, unrealised losses, interests, costs, expenses, charges and any debit balance on any Account even if those Accounts have been closed. 15.7.3 You are also entitled to require us to exercise the above rights in relation to your Accounts and/or open Positions that have been closed. 15.7.4 If the right under clause 15.7 is exercised, all the payment obligations will be consolidated into an obligation for you to pay the net sum to us or for us to pay a net sum to you.