Common use of Non-Qualified Investments and Excess Contributions Clause in Contracts

Non-Qualified Investments and Excess Contributions. You are responsible for any tax, interest or penalties (collectively, the “Charges”) imposed under Applicable Tax Legislation or by any other provincial or federal regulatory authorities as it pertains to the Contributions and investments in the FHSA except for the Charges and Income Tax that the Trustee is liable under the Act and that cannot be deducted from the FHSA Assets. If the FHSA becomes liable for any Charges, you will be deemed to have authorized us to sell or withdraw any of the FHSA Assets and obtain a fair market value that we, in our sole discretion, consider appropriate to pay any Charges to the FHSA and we will issue notice to you as prescribed under the Act in respect of any such transaction. We will not be liable for any loss or income taxes incurred as it pertains to the collection of unpaid Charges. It is your sole responsibility to provide appropriate documents supporting the fair market value of FHSA Assets not publicly traded on a recognized stock exchange within the meaning of Applicable Tax Legislation. Furthermore, we may deem FHSA Assets as worthless and remove them from the FHSA if you cannot provide documents supporting their fair market valuation as we may impose. We will not be liable for any Charges imposed on you or the FHSA under Applicable Tax Legislation or by any provincial or federal regulatory authorities related to the removal of FHSA Assets from the FHSA.

Non-Qualified Investments and Excess Contributions. You are responsible for any tax, interest or penalties (collectively, the “"Charges”") imposed under Applicable Tax Legislation or by any other provincial or federal regulatory authorities as it pertains to the Contributions and investments in the FHSA TFSA except for the Charges and Income Tax that the Trustee is liable under the Income Tax Act and that cannot can't be deducted from the FHSA TFSA Assets. If the FHSA TFSA becomes liable for any Charges, you will be deemed to have authorized us to sell or withdraw any of the FHSA TFSA Assets and obtain a fair market value that we, in our sole discretion, consider appropriate to pay any Charges to the FHSA TFSA and we will issue notice to you as prescribed under the Act in respect of any such transaction. We will not be liable for any loss or income taxes incurred as it pertains to the collection of unpaid Charges. It is your sole responsibility to provide appropriate documents supporting the fair market value of FHSA TFSA Assets not publicly traded on a recognized stock exchange within the meaning of Applicable Tax Legislation. Furthermore, we may deem FHSA TFSA Assets as worthless and remove them from the FHSA TFSA if you cannot provide documents supporting their fair market valuation as we may impose. We will not be liable for any Charges imposed on you or the FHSA TFSA under Applicable Tax Legislation or by any provincial or federal regulatory authorities related to the removal of FHSA TFSA Assets from the FHSATFSA.

Non-Qualified Investments and Excess Contributions. You are responsible for any tax, interest or penalties (collectively, the “Charges”) imposed under Applicable Tax Legislation or by any other provincial or federal regulatory authorities as it pertains to the Contributions and investments in the FHSA TFSA except for the Charges and Income Tax that the Trustee is liable under the Act and that cannot be deducted from the FHSA TFSA Assets. If the FHSA TFSA becomes liable for any Charges, you will be deemed to have authorized us to sell or withdraw any of the FHSA TFSA Assets and obtain a fair market value that we, in our sole discretion, consider appropriate to pay any Charges to the FHSA TFSA and we will issue notice to you as prescribed under the Act in respect of any such transaction. We will not be liable for any loss or income taxes incurred as it pertains to the collection of unpaid Charges. It is your sole responsibility to provide appropriate documents supporting the fair market value of FHSA TFSA Assets not publicly traded on a recognized stock exchange within the meaning of Applicable Tax Legislation. Furthermore, we may deem FHSA TFSA Assets as worthless and remove them from the FHSA TFSA if you cannot provide documents supporting their fair market valuation as we may impose. We will not be liable for any Charges imposed on you or the FHSA TFSA under Applicable Tax Legislation or by any provincial or federal regulatory authorities related to the removal of FHSA TFSA Assets from the FHSATFSA.

Non-Qualified Investments and Excess Contributions. You are responsible for any tax, interest interest, or penalties (collectively, the “"Charges”") imposed under Applicable Tax Legislation or by any other provincial or federal regulatory authorities as it pertains to the Contributions and investments in the FHSA TFSA except for the Charges and Income Tax that the Trustee is liable under the Income Tax Act and that cannot can't be deducted from the FHSA TFSA Assets. If the FHSA TFSA becomes liable for any Charges, you will be deemed to have authorized us to sell or withdraw any of the FHSA TFSA Assets and obtain a fair market value that we, in our sole discretion, consider appropriate to pay any Charges to the FHSA TFSA and we will issue notice to you as prescribed under the Act in respect of any such transaction. We will not be liable for any loss or income taxes incurred as it pertains to the collection of unpaid Charges. It is your sole responsibility to provide appropriate documents supporting the fair market value of FHSA TFSA Assets not publicly traded on a recognized stock exchange within the meaning of Applicable Tax Legislation. Furthermore, we may deem FHSA TFSA Assets as worthless and remove them from the FHSA TFSA if you cannot provide documents supporting their fair market valuation as we may impose. We will not be liable for any Charges imposed on you or the FHSA TFSA under Applicable Tax Legislation or by any provincial or federal regulatory authorities related to the removal of FHSA TFSA Assets from the FHSATFSA.