Common use of Rights and Obligations of the Member Clause in Contracts

Rights and Obligations of the Member. The Member accepts and undertakes in advance that; 1) The regulations, communiques, directives, procedures, system rules, circulars, general letters and principle resolutions issued by the Capital Markets Board, the Central Bank of the Republic of Turkey, the Exchange and Takasbank and all arrangements made under any name whatsoever and the provisions of other relevant legislation shall be applied together with the terms and conditions of this Agreement for all transactions to be conducted in the system, and Takasbank shall be authorized to interpret such legislation in its capacity as central counterparty, make decision on any unclear issue by taking account of the general provisions and lead the execution accordingly. 2) Takasbank shall be entitled to all types of regulatory and amendatory rights with respect to the transactions to be conducted in the system. 3) It shall make the necessary infrastructure, software and systems ready and available for use in accordance with the arrangements to be made by Takasbank and other authorized entities and institutions to ensure the system security and its uninterrupted operation. 4) It shall adapt the system revisions to be made by Takasbank within the prescribed time periods and participate in the tests it is invited to ensure continuity of the uninterrupted and secure functioning of the system. 5) It shall establish the internal audit and control mechanisms and take the necessary measures for their maintenance to ensure security of the clearing and settlement system. 6) It shall refrain from any activity that would risk the smooth execution of the clearing and settlement and reconciliation operations; and that it shall indemnify any loss and damage to be incurred in case of any fault on its part for the problems related to the functioning of the system. 7) It shall be responsible for the fulfillment of all obligations under this Agreement and the relevant legislation and for the functions performed by its employees pursuant to their duties. 8) It shall have unlimited liability for the obligations arising from all type of transactions conducted by its representatives it has authorized to conduct transaction on Takasbank system, and that, the conducted transactions shall be binding so long as any amendment to the powers of representation has not been informed to Takasbank in writing; and the responsibility for safekeeping of its user code and password used by its representatives to connect to the system shall belong to the Member and that, it shall be responsible for any loss to be incurred from the use of its user code and password by unauthorized people with or without consent of its representative because of their capture by third parties; and that the responsibility arising from all loss incurred due to the lack of capacity of its representatives or of the customers on whose behalf the transaction is conducted or because of acting contrary to the instructions of its customers or conducting transaction on behalf of its customers without the customer instruction shall belong to the Member. 9) It shall be obliged to take all necessary measures to prevent any unauthorized access to the systems over the web, copying and downloading of the content of data flow, any attempt to enter into the website menus that are forbidden to access, transmission of any request in a nature that might affect and damage the website or systems, any reverse engineering (discovering the structure, function or operation of the system through inferential reasoning) for the website or the systems and use of the website by any unauthorized user and to ensure that the contents transferred to the website do not violate the intellectual property rights of third parties, not include any statement constituting an offence such as an insult and defamation, not disclose the trade secrets of any business and are not fake, illegitimate and in obscene nature, and do not include discrimination, not encourage illegal actions, not contain any promotional factor, and not carry any virus, malicious software, spyware or other harmful content and codes; and that, it shall be responsible for indemnifying any loss to be incurred by Takasbank by virtue of any situation referred to in this paragraph. 10) The responsibility for the transactions it has conducted through the system shall belong to itself, and it shall indemnify any loss in case Takasbank and/or third parties incur(s) any for reasons arising from its own fault. 11) Takasbank shall not be a party to any conflict that might occur between the Member and third persons in the transactions conducted through the system. 12) Except for any fault or omission of Takasbank, it shall not held Takasbank liable for any loss that might be incurred due to non-completion of the clearing and settlement operations because of any technical breakdown, force majeure or other reasons related to the system and shall not raise any claim against Takasbank for the indemnification of such losses. 13) It cannot waive the payment made through the system and shall accept the payment sent to it, and the payment order shall be final and definitive upon its fulfillment of the reconciliation conditions stipulated in Takasbank arrangements. 14) It consents to exchange the balance resulting from the transactions conducted through the system. 15) The settlement operations shall be performed in accordance with the PvP principle. 16) The variation margin settlement process shall include the settlement of the variation margins and the financing cost of the variation margin, and the variation margin refund amounts to be paid on the expiry date of the transaction shall be added to the repayment amount on the expiry date. 17) The variation margin amounts calculated to neutralize the intrinsic value of the swap transaction shall be calculated in TL and their settlement shall be made in TL. 18) It shall deposit its cash debt arising as a result of the transactions conducted in the Exchange and its variation margin settlement debt calculated to neutralize the intrinsic value of the swap transaction to the accounts designated in the Procedure, and should its cash settlement obligations be failed to be fulfilled, Takasbank can collect such amount from its “free current account”. 19) It shall kept up-to-date its correspondent bank account information to be used for sending the foreign currency denominated receivables, and it shall not hold Takasbank liable for any delay arising from erroneous or delayed correspondent bank notification. 20) It shall not hold Takasbank liable for any delay arising from the correspondent bank in the clearing and settlement process. 21) It accepts in advance the transfer of its TL denominated cash receivable arising upon payment of its foreign currency denominated cash debt after EFT closing time as a result of the transactions conducted in the Exchange to the compulsory reserve account at the CBRT until the receivable distribution deadline referred to in the Procedure. 22) Should its foreign-currency denominated cash debt as a result of the transactions conducted in the Exchange be failed to be deposited until the deadline designated by Takasbank, it cannot held Takasbank liable for non- transfer of its TL-denominated receivable to its free current account at Takasbank or compulsory reserve account at the CBRT. 23) Any request outside the working hours set forth in the Procedure shall not be taken into account, and these hours can be changed at any time by notifying the Member thereof. 24) It shall provide the membership collateral, trade margins and guarantee fund contributions to be required by Takasbank in accordance with the provisions of the relevant legislation. 25) It shall comply with the arrangements for taking out general and special-purpose insurance which would provide coverage for the financial and legal liability that might arise against other members and take other measures in such nature, if required by Takasbank. 26) If Takasbank becomes obliged to file a lawsuit or initiate an enforcement proceeding for collecting the debts arising from this Agreement, it shall be responsible for paying all dues, expenses and attorney fees to be incurred due to such lawsuit and proceedings. 27) In addition to the books and records it is required to keep legally, it shall also keep other records determined by Takasbank, issue the information and documents in due form; and convey them to Takasbank in a periodic manner or when requested by Takasbank, and maintain such documents and records for a period of one year. 28) The allegations of error, cheating and economic distress regarding the information and documents generated by the system or sent by Takasbank after the moment of creation in the system shall not be valid so long as they are not acknowledged by Takasbank. 29) It shall accept the investigations to be carried out by Takasbank officers in relation to its business and transactions within the scope of the Regulation and the Procedure and provide all types of support accordingly. 30) For any issue not stipulated in this Agreement, the regulations of Takasbank and the provisions of other relevant legislation shall be applied, and should any amendment be made to such legislation, the amended provisions shall be applied. 31) Takasbank shall be entitled to determine and enforce the measures to be taken in case of presence of any extraordinary situation that it expects the operability and reliability of the system to be adversely affected therefrom, and that it shall also be entitled to change the limits in such type of situations, revise the risk calculation method and parameters, require additional collateral, change the settlement periods and conditions, restrict the collateral withdrawal by specific periods and conditions, change the trading hours, refrain from acting as central counterparty and take any measure accordingly. 32) It shall fulfill other obligations under the Procedure and the Directive in a complete manner and within their time periods. 33) The penalties stipulated by the arrangements of Takasbank shall be applied in case of any action contrary to the Directive, the Procedure and the implementing principles and the communiques, regulations, directives and the provisions of this Agreement. 34) The Directive, the Procedure and the implementing principles and the communiques, regulations, directives and any amendment and addition thereto shall be an integral part of this Agreement.

Rights and Obligations of the Member. The Member accepts and undertakes in advance that; 1) The regulations, communiques, directives, procedures, system rules, circulars, general letters and principle resolutions issued by the Capital Markets Board, the Central Bank of the Republic of Turkey, the Exchange Borsa and Takasbank and all arrangements made under any name whatsoever and the provisions of other relevant legislation shall be applied together with the terms and conditions of this Agreement for all transactions to be conducted in the system, and Takasbank shall be authorized to interpret such legislation in its capacity as central counterparty, make decision on any unclear issue by taking account of the general provisions and lead the execution accordingly. 2) Takasbank shall be entitled to all types of regulatory and amendatory rights with respect to the transactions to be conducted in the system. 3) It shall make the necessary infrastructure, software and systems ready and available for use in accordance with the arrangements to be made by Takasbank and other authorized entities and institutions to ensure the system security and its uninterrupted operation. 4) It shall adapt the system revisions to be made by Takasbank within the prescribed time periods and participate in the tests it is invited to ensure continuity of the uninterrupted and secure functioning of the system. 5) It shall establish the internal audit and control mechanisms and take the necessary measures for their maintenance to ensure security of the clearing and settlement system. 6) It shall refrain from any activity that would risk the smooth execution of the clearing and settlement and reconciliation operations; and that it shall indemnify any loss and damage to be incurred in case of any fault on its part for the problems related to the functioning of the system. 7) It shall be responsible for the fulfillment of all obligations under this Agreement and the relevant legislation and for the functions performed by its employees pursuant to their duties. 8) It shall have unlimited liability for the obligations arising from all type of transactions conducted by its representatives it has authorized to conduct transaction on Takasbank system, and that, the conducted transactions shall be binding so long as any amendment to the powers of representation has not been informed to Takasbank in writing; and the responsibility for safekeeping of its user code and password used by its representatives to connect to the system shall belong to the Member and that, it shall be responsible for any loss to be incurred from the use of its user code and password by unauthorized people with or without consent of its representative because of their capture by third parties; and that the responsibility arising from all loss incurred due to the lack of capacity of its representatives or of the customers on whose behalf the transaction is conducted or because of acting contrary to the instructions of its customers or conducting transaction on behalf of its customers without the customer instruction shall belong to the Member. 9) It shall be obliged to take all necessary measures to prevent any unauthorized access to the systems over the web, copying and downloading of the content of data flow, any attempt to enter into the website menus that are forbidden to access, transmission of any request in a nature that might affect and damage the website or systems, any reverse engineering (discovering the structure, function or operation of the system through inferential reasoning) for the website or the systems and use of the website by any unauthorized user and to ensure that the contents transferred to the website do not violate the intellectual property rights of third parties, not include any statement constituting an offence such as an insult and defamation, not disclose the trade secrets of any business and are not fake, illegitimate and in obscene nature, and do not include discrimination, not encourage illegal actions, not contain any promotional factor, and not carry any virus, malicious software, spyware or other harmful content and codes; and that, it shall be responsible for indemnifying any loss to be incurred by Takasbank by virtue of any situation referred to in this paragraph. 10) The responsibility for the transactions it has conducted through the system shall belong to the itself, and it shall indemnify any loss in case Takasbank and/or third parties incur(s) any for reasons arising from its own fault. 11) Takasbank shall not be a party to any conflict that might occur between the Member and third persons in the transactions conducted through the system. 12) Except for any fault or omission of Takasbank, it shall not held Takasbank liable for any loss that might be incurred due to non-completion of the clearing and settlement operations because of any technical breakdown, force majeure or other reasons related to the system and shall not raise any claim against Takasbank for the indemnification of such losses. 13) It cannot waive the payment made through the system and shall accept the payment sent to it, and the payment order shall be final and definitive upon its fulfillment of the reconciliation conditions stipulated in Takasbank arrangements. 14) It consents to exchange the balance resulting from the transactions conducted through the system. 15) The clearing and settlement operations transactions shall be performed in accordance with the PvP delivery of collateral against payment principle. 16) The variation margin settlement process shall include the settlement of the variation margins and the financing cost of the variation margin, and the variation margin refund amounts to be paid on the expiry date of the transaction shall be added to the repayment amount on the expiry date. 17) The variation margin amounts calculated to neutralize the intrinsic value of the swap transaction shall be calculated in TL and their settlement shall be made in TL. 18) It shall deposit its cash debt arising as a result from netting of the transactions conducted in the Exchange and its variation margin settlement debt calculated to neutralize the intrinsic value of the swap transaction Borsa to the accounts designated referred to in the Procedure, and should its cash settlement obligations be failed to be fulfilled, Takasbank can collect such amount amounts from its “free current account”. 19) It shall kept up-to-date its correspondent bank account information to be used for sending the foreign currency denominated receivables, and it shall not hold Takasbank liable for any delay arising from erroneous or delayed correspondent bank notification. 20) It shall not hold Takasbank liable for any delay arising from the correspondent bank in the clearing and settlement process. 21) It accepts in advance the transfer of its TL denominated cash receivable arising upon payment of its foreign currency denominated cash debt after EFT closing time as a result of the transactions conducted in the Exchange to the compulsory reserve account at the CBRT until the receivable distribution deadline referred to in the Procedure. 22) Should its foreign-currency denominated cash debt as a result of the transactions conducted in the Exchange be failed to be deposited until the deadline designated by Takasbank, it cannot held Takasbank liable for non- transfer of its TL-denominated receivable to its free current account at Takasbank or compulsory reserve account at the CBRT. 2317) Any request outside the working hours set forth in the Procedure shall not be taken into account, and these hours can be changed at any time by notifying the Member thereof. 2418) It shall provide the membership collateral, trade margins and guarantee fund contributions to be required by Takasbank in accordance with the provisions of the relevant legislation. 2519) It shall comply with the arrangements for taking out general and special-purpose insurance which would provide coverage for the financial and legal liability that might arise against other members and take other measures in such nature, if required by Takasbank. 2620) If Takasbank becomes obliged to file a lawsuit or initiate an enforcement proceeding for collecting the debts arising from this Agreement, it shall be responsible for paying all dues, expenses and attorney fees to be incurred due to such lawsuit and proceedings. 2721) In addition to the books and records it is required to keep legally, it shall also keep other records determined by Takasbank, issue the information and documents in due form; and convey them to Takasbank in a periodic manner or when requested by Takasbank, and maintain such documents and records for a period of one year2 years. 2822) The allegations of error, cheating and economic distress regarding the information and documents generated by the system or sent by Takasbank after the moment of creation in the system shall not be valid so long as they are not acknowledged by Takasbank. 2923) It shall accept the investigations to be carried out by Takasbank officers in relation to its business and transactions within the scope of the Regulation and the Procedure and provide all types of support accordingly. 3024) For any issue not stipulated in this Agreement, the regulations of Takasbank and the provisions of other relevant legislation shall be applied, and should any amendment be made to such legislation, the amended provisions shall be applied. 3125) Takasbank shall be entitled to determine and enforce the measures to be taken in case of presence of any extraordinary situation that it expects the operability and reliability of the system to be adversely affected therefrom, and that it shall also be entitled to change the limits in such type of situations, revise the risk calculation method and parameters, require additional collateral, change the settlement periods and conditions, restrict the collateral withdrawal by specific periods and conditions, change the trading hours, refrain from acting as central counterparty and take any measure accordingly. 3226) It shall fulfill other obligations under the Procedure and the Directive in a complete manner and within their time periods. 3327) The penalties stipulated by the arrangements of Takasbank shall be applied in case of any action contrary to the Directive, the Procedure and the implementing principles and the communiques, regulations, directives and the provisions of this Agreement. 3428) The Directive, the Procedure and the implementing principles and the communiques, regulations, directives and any amendment and addition thereto shall be an integral part of this Agreement.

Rights and Obligations of the Member. The Member accepts and undertakes in advance that; 1) The regulations, communiques, directives, procedures, system rules, circulars, general letters and principle resolutions issued by the Capital Markets Board, the Central Bank of the Republic of Turkey, the Exchange and Takasbank and all arrangements made under any name whatsoever and the provisions of other relevant legislation shall be applied together with the terms and conditions of this Agreement for all transactions to be conducted in the system, and Takasbank shall be authorized to interpret such legislation in its capacity as central counterparty, make decision on any unclear issue by taking account of the general provisions and lead the execution accordingly. 2) Takasbank shall be entitled to all types of regulatory and amendatory rights with respect to the transactions to be conducted in the system. 3) It shall make the necessary infrastructure, software and systems ready and available for use in accordance with the arrangements to be made by Takasbank and other authorized entities and institutions to ensure the system security and its uninterrupted operation. 4) It shall adapt the system revisions to be made by Takasbank within the prescribed time periods and participate in the tests it is invited to ensure continuity of in the uninterrupted and secure functioning of the system. 5) It shall establish the internal audit and control mechanisms and take the necessary measures for their maintenance to ensure security of the clearing and settlement system. 6) It shall refrain from any activity that would risk the smooth execution of the clearing and settlement and reconciliation operations; and that it shall indemnify any loss and damage to be incurred in case of any fault on its part for the problems related to the functioning of the system. 7) It shall be responsible for the fulfillment of all obligations under this Agreement and the relevant legislation and for the functions performed by its employees pursuant to their duties. 8) It shall have unlimited liability for the obligations arising from all type of transactions conducted by its representatives it has authorized to conduct transaction on Takasbank system, and that, the conducted transactions shall be binding so long as any amendment to the powers of representation has not been informed to Takasbank in writing; and the responsibility for safekeeping of its user code and password used by its representatives to connect to the system shall belong to the Member and that, it shall be responsible for any loss to be incurred from the use of its user code and password by unauthorized people with or without consent of its representative because of their capture by third parties; and that the responsibility arising from all loss incurred due to the lack of capacity of its representatives or of the customers on whose behalf the transaction is conducted or because of acting contrary to the instructions of its customers or conducting transaction on behalf of its customers without the customer instruction shall belong to the Member. 9) It shall be obliged to take all necessary measures to prevent any unauthorized access to the systems over the web, copying and downloading of the content of data flow, any attempt to enter into the website menus that are forbidden to access, transmission of any request in a nature that might affect and damage the website or systems, any reverse engineering (discovering the structure, function or operation of the system through inferential reasoning) for the website or the systems and use of the website by any unauthorized user and to ensure that the contents transferred to the website do not violate the intellectual property rights of third parties, not include any statement constituting an offence such as an insult and defamation, not disclose the trade secrets of any business and are not fake, illegitimate and in obscene nature, and do not include discrimination, not encourage illegal actions, not contain any promotional factor, and not carry any virus, malicious software, spyware or other harmful content and codes; and that, it shall be responsible for indemnifying any loss to be incurred by Takasbank by virtue of any situation referred to in this paragraph. 10) The responsibility for the transactions it has conducted through the system shall belong to itself, and it shall indemnify any loss in case Takasbank and/or third parties incur(s) any for reasons arising from its own fault. 11) Takasbank shall not be a party to any conflict that might occur between the Member and third persons in the transactions conducted through the system. 12) Except for any fault intent or omission of Takasbank, it shall not held Takasbank liable for any loss that might be incurred due to non-completion of the clearing and settlement operations because of any technical breakdown, force majeure or other reasons related to the system and shall not raise any claim against Takasbank for the indemnification of such losses. 13) It cannot waive withdraw from the payment made through the system and shall accept the payment sent to it, and the payment order shall be final and definitive upon its fulfillment of the reconciliation conditions stipulated in Takasbank arrangements. 14) It consents to exchange the balance resulting from the transactions conducted through the system. 15) The settlement operations shall be performed in accordance with the PvP collateral delivery versus payment principle. 16) The variation margin settlement process shall include the settlement of the variation margins and the financing cost of the variation margin, and the variation margin refund amounts to be paid on the expiry date of the transaction shall be added to the repayment amount on the expiry date. 17) The variation margin amounts calculated to neutralize the intrinsic value of the swap transaction shall be calculated in TL and their settlement shall be made in TL. 18) It shall deposit its cash debt arising as a result of the netting of the transactions conducted in the Exchange and its variation margin settlement debt calculated to neutralize the intrinsic value of the swap transaction to the accounts designated in the Procedure, and should its the cash settlement obligations be failed to be fulfilled, Takasbank can collect such amount from its “free current account”. 19) It shall kept up-to-date its correspondent bank account information to be used for sending the foreign currency denominated receivables, and it shall not hold Takasbank liable for any delay arising from erroneous or delayed correspondent bank notification. 20) It shall not hold Takasbank liable for any delay arising from the correspondent bank in the clearing and settlement process. 21) It accepts in advance the transfer of its TL denominated cash receivable arising upon payment of its foreign currency denominated cash debt after EFT closing time as a result of the transactions conducted in the Exchange to the compulsory reserve account at the CBRT until the receivable distribution deadline referred to in the Procedure. 22) Should its foreign-currency denominated cash debt as a result of the transactions conducted in the Exchange be failed to be deposited until the deadline designated by Takasbank, it cannot held Takasbank liable for non- transfer of its TL-denominated receivable to its free current account at Takasbank or compulsory reserve account at the CBRT. 2317) Any request outside the working hours set forth in the Procedure shall not be taken into account, and these hours can be changed at any time by notifying the Member thereof. 2418) It shall provide the membership collateral, trade margins and guarantee fund contributions to be required by Takasbank Takasbank, in accordance with the provisions of the relevant legislation. 2519) It shall comply with the arrangements for taking out general and special-purpose insurance which would provide coverage for the financial and legal liability that might arise against other members and take other measures in such nature, if required by Takasbank. 2620) If Takasbank becomes obliged to file a lawsuit or initiate an enforcement proceeding for collecting the debts arising from this Agreement, it shall be responsible for paying all dues, expenses and attorney fees to be incurred due to such lawsuit and proceedings. 2721) In addition to the books and records it is required to keep legally, it shall also keep other records determined by Takasbank, issue the information and documents in due form; and convey them to Takasbank in a periodic manner or when requested by Takasbank, and maintain such documents and records for a period of one yeartwo years. 2822) The allegations Any allegation of error, cheating and economic distress regarding the information and documents generated by the system or sent by Takasbank after the moment of their creation in the system shall not be valid so long as they are not acknowledged by Takasbank. 2923) It shall accept the investigations to be carried out by Takasbank officers in relation to its for the business and transactions within the scope of the Regulation and the Procedure and provide all types of support accordingly. 3024) For any issue not stipulated in this Agreement, the regulations of Takasbank and the provisions of other relevant legislation shall be applied, and should any amendment be made to such legislation, the amended provisions shall be applied. 3125) Takasbank shall be entitled to determine and enforce the measures to be taken in case of presence of any extraordinary situation that it expects the operability and reliability of the system to be adversely affected therefrom, and that it shall also be entitled to change the limits in such type of situations, revise the risk calculation method and parameters, require additional collateral, change the settlement periods and conditions, restrict the collateral withdrawal by specific periods and conditions, change the trading hours, refrain from acting as central counterparty and take any measure all other measures accordingly. 3226) It shall fulfill other obligations under the Procedure and the Directive in a complete manner and within their time periods. 3327) The penalties stipulated by the arrangements of Takasbank shall be applied in case of any action contrary to the Directive, the Procedure and the implementing principles and the communiques, regulations, directives and the provisions of this Agreement. 3428) The Directive, the Procedure and the implementing principles and the communiques, regulations, directives and any amendment and addition thereto shall be an integral part of this Agreement.

Rights and Obligations of the Member. The Member accepts and undertakes in advance that; 1) The regulations, communiques, directives, procedures, system rules, circulars, general letters and principle resolutions issued by the Capital Markets Board, the Central Bank of the Republic of Turkey, the Exchange and Takasbank and all arrangements made under any name whatsoever and the provisions of other relevant legislation shall be applied together with the terms and conditions of this Agreement for all transactions to be conducted in the systemBIAS Debt Securities Market, and Takasbank shall be authorized to interpret such legislation in its capacity as central counterparty, make decision on any unclear issue by taking account of the general provisions and lead the execution accordingly. 2) Takasbank shall be entitled to all types of regulatory and amendatory rights with respect to the transactions to be conducted in the system, and that it shall comply with all rules announced and to be announced by Takasbank, and it shall have no right of objection to the exercising of such rights by Takasbank, and it shall fulfill all obligations and conditions stipulated by Takasbank. 3) It shall make the necessary infrastructure, software and systems ready and available for use in accordance with the arrangements to be made by Takasbank and other authorized entities and institutions to ensure the system security and its uninterrupted operation. 4) It shall adapt the system revisions to be made by Takasbank within the prescribed time periods and participate in the tests it is invited to ensure continuity of in the uninterrupted and secure functioning of the system. 5) It shall establish the internal audit and control mechanisms and take the necessary measures for their maintenance to ensure security of the clearing and settlement system. 6) It shall refrain from any activity that would risk the smooth execution of the clearing and settlement and reconciliation operations; and that it shall indemnify any loss and damage to be incurred in case of any fault on its part for the problems related to the functioning of the system. 7) It shall be responsible for the fulfillment of all obligations under this Agreement and the relevant legislation and for the functions performed by its employees pursuant to their duties. 8) It shall have unlimited liability for the obligations arising from all type of transactions conducted by its representatives it has authorized to conduct transaction on Takasbank system, and that, the conducted transactions shall be binding so long as any amendment to the powers of representation has not been informed to Takasbank in writing; and the responsibility for safekeeping of its user code and password used by its representatives to connect to the system shall belong to the Member and that, it shall be responsible for any loss to be incurred from the use of its user code and password by unauthorized people with or without consent of its representative because of their capture by third parties; and that the responsibility arising from all loss incurred due to the lack of capacity of its representatives or of the customers on whose behalf the transaction is conducted or because of acting contrary to the instructions of its customers or conducting transaction on behalf of its customers without the customer instruction shall belong to the Member. 9) It shall be obliged to take all necessary measures to prevent any unauthorized access to the systems over the web, copying and downloading of the content of data flow, any attempt to enter into the website menus that are forbidden to access, transmission of any request in a nature that might affect and damage the website or systems, any reverse engineering (discovering the structure, function or operation of the system through inferential reasoning) for the website or the systems and use of the website by any unauthorized user and to ensure that the contents transferred to the website do not violate the intellectual property rights of third parties, not include any statement constituting an offence such as an insult and defamation, not disclose the trade secrets of any business and are not fake, illegitimate and in obscene nature, and do not include discrimination, not encourage illegal actions, not contain any promotional factor, and not carry any virus, malicious software, spyware or other harmful content and codes; and that, it shall be responsible for indemnifying any loss to be incurred by Takasbank by virtue of any situation referred to in this paragraph. 10) The responsibility for the transactions it has conducted through the system shall belong to itself, and it shall indemnify any loss in case Takasbank and/or third parties incur(s) any for reasons arising from its own fault. 11) Takasbank shall not be a party to any conflict that might occur between the Member and third persons in the transactions conducted through the system. 12) Except for any fault or omission of Takasbank, it shall not held Takasbank liable for any loss that might be incurred due to non-completion of the clearing and settlement operations because of any technical breakdown, force majeure or other reasons related to the system and shall not raise any claim against Takasbank for the indemnification of such losses. 13) It cannot waive withdraw from the payment payment/transfer made through the system and shall accept the payment payment/transfer sent to it, and the payment order shall be final and definitive upon its fulfillment of the reconciliation conditions stipulated in Takasbank arrangements. 14) It consents to exchange the balance resulting from the transactions conducted through the system. 15) The settlement operations shall be performed in accordance with the PvP delivery versus payment principle. 16) The variation margin settlement process It shall include be obliged to report the repo securities subject to the settlement of the variation margins and the financing cost of the variation marginoperation on time, and the variation margin refund amounts any security reporting failed to be paid made on the expiry date of the transaction time shall be added to deemed ex-officio reported by using the repayment amount on the expiry datebenchmark bond by Takasbank, and it shall fulfill its obligation over such ex-officio-designated asset. 17) The variation margin amounts calculated to neutralize the intrinsic value of the swap transaction shall be calculated in TL and their settlement shall be made in TL. 18) It shall deposit its cash debt arising as a result of the netting of the transactions conducted in the Exchange and its variation margin settlement debt calculated to neutralize the intrinsic value of the swap transaction to the accounts designated in the Procedure, and should its the cash settlement obligations be failed to be fulfilled, Takasbank can collect such amount from its “free current account”. 19) It shall kept up-to-date its correspondent bank account information to be used for sending the foreign currency denominated receivables, and it shall not hold Takasbank liable for any delay arising from erroneous or delayed correspondent bank notification. 20) It shall not hold Takasbank liable for any delay arising from the correspondent bank in the clearing and settlement process. 21) It accepts in advance the transfer of its TL denominated cash receivable arising upon payment of its foreign currency denominated cash debt after EFT closing time as a result of the transactions conducted in the Exchange to the compulsory reserve account at the CBRT until the receivable distribution deadline referred to in the Procedure. 22) Should its foreign-currency denominated cash debt as a result of the transactions conducted in the Exchange be failed to be deposited until the deadline designated by Takasbank, it cannot held Takasbank liable for non- transfer of its TL-denominated receivable to its free current account at Takasbank or compulsory reserve account at the CBRT. 2318) Any request outside the working hours set forth in the Procedure shall not be taken into account, and these hours can be changed at any time by notifying the Member thereof. 2419) It shall pay the fees and commissions to be charged by Takasbank for the services it provides under this Agreement and the relevant legislation within the time periods set forth in the relevant regulations. 20) It shall provide the membership collateral, trade margins and guarantee fund contributions to be required by Takasbank Takasbank, in accordance with the provisions of the relevant legislation. 2521) It shall comply with the arrangements for taking out general and special-purpose insurance which would provide coverage for the financial and legal liability that might arise against other members and take other measures in such nature, if required by Takasbank. 2622) If Takasbank becomes obliged to file a lawsuit or initiate an enforcement proceeding for collecting the debts arising from this Agreement, it shall be responsible for paying all dues, expenses and attorney fees to be incurred due to such lawsuit and proceedings. 2723) In addition to the books and records it is required to keep legally, it shall also keep other records determined by Takasbank, issue the information and documents in due form; and convey them to Takasbank in a periodic manner or when requested by Takasbank, and maintain such documents and records for a period of one year. 28) The allegations two years; and that, any allegation of error, cheating and economic distress regarding the information and documents generated by the system or sent by Takasbank after the moment of their creation in the system shall not be valid so long as they are not acknowledged by Takasbank. 2924) It shall accept the investigations to be carried out by Takasbank officers in relation to its for the business and transactions within the scope of the Regulation and the Procedure and provide all types of support accordingly. 3025) For any issue not stipulated in this Agreement, the regulations of Takasbank and the provisions of other relevant legislation shall be applied, and should any amendment be made to such legislation, the amended provisions shall be applied. 3126) Takasbank shall be entitled to determine and enforce the measures to be taken in case of presence of any extraordinary situation that it expects the operability and reliability of the system to be adversely affected therefrom, and that it shall also be entitled to change the limits in such type of situations, revise the risk calculation method and parameters, require additional collateral, change the settlement periods and conditions, restrict the collateral withdrawal by specific periods and conditions, change the trading hours, refrain from acting as central counterparty and take any measure all other measures accordingly. 3227) It shall fulfill other obligations under the Procedure and the Directive in a complete manner and within their time periods. 3328) The penalties stipulated by the arrangements of Takasbank shall be applied in case of any action contrary to the Directive, the Procedure and the implementing principles and the communiques, regulations, directives and the provisions of this Agreement. 3429) The Directive, the Procedure and the implementing principles and the communiques, regulations, directives and any amendment and addition thereto shall be an integral part of this Agreement. 30) If the trading institution guarantees the clearing and settlement operations in its capacity as general central counterparty to Takasbank, it shall be unconditionally responsible for fulfilling the obligations of such trading institution regarding the transactions it has conducted over itself; and it shall provide to Takasbank a letter of undertaking whose content is to be determined by Takasbank and which indicates that it has unconditionally guaranteed all transactions in the Market of the trading institution whose transactions it has guaranteed, and it shall be jointly and severally liable to Takasbank as co-debtor and guarantor for the transactions of the trading institution and its customers by virtue of the guarantee provided by the Member for the transactions of the trading institution, and the guarantee provided to the trading institution for its transactions can be lifted on condition that the open positions of the trading institution are transferred to another member or the positions are closed. 31) For the transactions to which the CBRT is a party, the CBRT shall have the right to withdraw from its commitment on the expiry date of the transaction. 32) If the Member fails to fulfill its obligation on the expiry date of the transaction in the Committed Transactions Market for the transactions to which the CBRT is a party on the start date of the transaction, its rights and receivables as well as its collateral at the CBRT can be resorted. 33) If the Member fails to fulfill its obligation on the expiry date of the transaction in the Committed Transactions Market for the transactions to which the CBRT is a party on the start date of the transaction, the CBRT’s right to recourse to the Member shall be reserved.