Common use of SECURITIES IN THE ACCOUNT Clause in Contracts

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker (“Local Securities Collateral”) shall be: (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (c) registered in the name of the Client or The Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fit. 4.3 Any securities collateral held by The Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The Broker. 4.4 For any securities of the Client deposited with The Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The Broker. For any securities forming part of a larger holding of identical securities which are held by The Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The Broker, the Client agrees to give the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (a) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker (“Local Securities CollateralSecurities”) shall be: (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (c) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by The Broker on the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid RulesClient’s behalf, the Client hereby authorizes The Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The Broker. For any securities forming part of a larger holding of identical securities which are held by The Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the ClientClient for safekeeping. 4.5 For so long 2.5 Securities purchased for the Client will be delivered to the Client (or as there exists the Client may direct) PROVIDED THAT such securities are fully paid and are not subject to any indebtedness to lien, and/or are not held as collateral by The Broker on the part of the Client, The Broker may refuse or any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateralM&F Asset Management Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, The Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees to give the standing authority to that The Broker is entitled to authorize The Broker retain for its own benefit and not accountable to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to any purpose by The 除，而任何該等免除、和解或解除因此須被視為受到限制；或Broker.

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or; (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s 's behalf to The the Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The the Broker, the Client agrees to give the standing authority to The the Broker to authorize The the Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s 's behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或the Broker; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Broker's settlement obligations and liabilities. Such authority shall remain valid for a period of twelve (12) months from the approval date of the opening of the Margin Account unless the Client gives not less than seven (7) business days' prior written notice to the Broker to revoke the same at any time, provided that no such revocation shall be effective if there is any indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom the Broker called upon to do so, the Broker reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any indebtedness owing to the Broker and any of its Associates. 4.9 Subject to the provisions of the SFO, the Client agrees that the Broker is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client held in the Account with any third party for any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient's behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s 's behalf to The the Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, the Broker shall not without the Client's oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1. The securities collateral Securities of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral Securities which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“"Local Securities Collateral”Securities") shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2. In respect of any securities of the Client other than Local Securities Collateral to which ("Overseas Securities") held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClients behalf, the Client authorizes The hereby authorises the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected that provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3. Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 Clauses 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any lossesLosses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4. For any securities Securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long 2.5. Securities purchased for the Client will be delivered to the Client (or as there exists the Client may direct), provided that such securities are fully paid and are not subject to any indebtedness to The lien, and/or are not held as Collateral by the Broker on the part or any Related Persons of the Client, The Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateralBroker. 4.6 2.6. The Broker is not obliged to return the securities Securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7. Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s Clients behalf to The the Broker or a third person. 4.8 Without prejudice 2.8. Except as provided in Clause 2.7 of the Cash Account Terms and Conditions or provisions of the General Terms and Conditions, or otherwise permitted under the SFO, the Broker shall not, without the Clients oral or written direction or standing authority, deposit, transfer, lend, pledge, re-pledge or otherwise deal with any Securities of the Client. 2.9. Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 5.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 5.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 5.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 5.1 and 4.2 5.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 5.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other personsotherpersons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 5.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 5.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 5.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice 5.8 Except as provided in Clauses 3.2, 5.7, 9.2 and 10 or permitted under the SFO, the Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 5.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant Client with any third party for any purpose by the Broker. 5.10 The Client agrees not to, and not purport to, create or allow to subsist, a charge, pledge or other encumbrance over the Account or securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral held or carried by the Broker for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或or in the Account.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, the Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 4.1. The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“"Local Securities Collateral”") shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or; (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 4.2. In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge re-pledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 4.3. Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 4.4. For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 4.5. For so long as there exists any indebtedness Indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 4.6. The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 4.7. Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s Clients behalf to The the Broker or a third person. 4.8 4.8. Without prejudice to any other right or remedy available to The the Broker, the Client agrees to give the standing authority to The the Broker to authorize The the Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s Clients behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或the Broker; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Broker's settlement obligations and liabilities. 4.9. Such authority shall remain valid for a period of twelve (12) months from the approval date of the opening of the Margin Account unless the Client gives not less than seven (7) Business Days' prior written notice to the Broker to revoke the same at any time, provided that no such revocation shall be effective if there is any Indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom the Broker called upon to do so, the Broker reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any Indebtedness owing to the Broker and any of its Related Persons. 4.10. Subject to the provisions of the SFO, the Client agrees that the Broker is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the Securities of the Client held in the Account with any third party for any purpose.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient's behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s 's behalf to The the Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, the Broker shall not without the Client's oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client with any third party for any purpose by the Broker. 1. Application of the additional terms 1.1 All provisions in these Additional Terms for Margin Account apply to Margin Accounts. 1.2 The Broker to authorize The Broker to deal Client shall open and maintain a Margin Account with the Local Broker subject to the General Terms and Conditions and these Additional Terms for Margin Account and the Additional Terms for Electronic Trading Service (if applicable) and the Additional Terms for New Listing of Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter aliaif applicable), namely to: (a) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker (“Local Securities CollateralSecurities”) shall be: (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (c) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by The Broker on the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid RulesClient’s behalf, the Client hereby authorizes The Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The Broker. For any securities forming part of a larger holding of identical securities which are held by The Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the ClientClient for safekeeping. 4.5 For so long 2.5 Securities purchased for the Client will be delivered to the Client (or as there exists the Client may direct) PROVIDED THAT such securities are fully paid and are not subject to any indebtedness to lien, and/or are not held as collateral by The Broker on the part of the Client, The Broker may refuse or any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateralDFSL Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, The Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees to give the standing authority to that The Broker is entitled to authorize The Broker retain for its own benefit and not accountable to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to any purpose by The 除，而任何該等免除、和解或解除因此須被視為受到限制；或Broker.

SECURITIES IN THE ACCOUNT. 4.1 5.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 5.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 5.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 5.1 and 4.2 5.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 5.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 5.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 5.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 5.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice 5.8 Except as provided in Clauses 3.2, 5.7, 9.2 and 10 or permitted under the SFO, the Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 5.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant Client with any third party for any purpose by the Broker. 5.10 The Client agrees not to, and not purport to, create or allow to subsist, a charge, pledge or other encumbrance over the Account or securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral held or carried by the Broker for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或or in the Account.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, Client for safekeeping. The Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held also exercise voting right on behalf of the Client in settlement of any liability owed with respect to such securities upon prior specific instruction received by the Client or on Broker from the Client’s behalf to The Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The Broker, the Client agrees to give the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (a) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker AIF SEC (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker AIF SEC in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; (B) deposited in an account in the name of AIF SEC with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The BrokerAIF SEC. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The Broker AIF SEC in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The BrokerAIF SEC) The Broker AIF SEC thinks fit. 4.3 Any securities collateral held by The Broker AIF SEC on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The Broker AIF SEC has no obligation to insure the Client against any kind of risk. The Broker AIF SEC shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The BrokerAIF SEC. 4.4 For any securities of the Client deposited with The Broker AIF SEC not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker AIF SEC shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The BrokerAIF SEC. For any securities forming part of a larger holding of identical securities which are held by The Broker AIF SEC for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The BrokerAIF SEC. The Broker AIF SEC shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The Broker AIF SEC on the part of the Client, The Broker AIF SEC may refuse any withdrawal of securities collateral and the Client shall not without consent of The Broker AIF SEC withdraw any securities collateral. 4.6 The Broker AIF SEC is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The BrokerAIF SEC, The Broker AIF SEC is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker AIF SEC or a third person. 4.8 Without prejudice to any other right or remedy available to The BrokerAIF SEC, the Client agrees to give the standing authority to The Broker AIF SEC to authorize The Broker AIF SEC to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或AIF SEC; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of AIF SEC's settlement obligations and liabilities. Such authority shall remain valid for a period of twelve (12) months from the approval date of the opening of the Margin Account unless the Client gives not less than seven (7) business days' prior written notice to AIF SEC to revoke the same at any time, provided that no such revocation shall be effective if there is any indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom AIF SEC called upon to do so, AIF SEC reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any indebtedness owing to AIF SEC and any of its Associates. 4.9 Subject to the provisions of the SFO, the Client agrees that AIF SEC is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client held in the Account with any third party for any purpose by AIF SEC.

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the 2.1 THE SECURITIES OF THE CLIENT IN THE ACCOUNT SHALL BE TREATED AND DEALT WITH IN COMPLIANCE WITH THE PROVISIONS OF THE SFO. In IN particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The Broker withdraw subject to any securities collaterallien, and/or are not held as collateral by the Broker. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, the Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received receive d or held in Hong Kong by The the Broker (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or; (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The the Broker, the Client agrees to give the standing authority to The the Broker to authorize The the Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或the Broker; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Broker's settlement obligations and liabilities. Such authority shall remain valid for a period of twelve (12) months from the approval date of the opening of the Margin Acco unt unless the Client gives not less than seven (7) business days' prior written notice to the Broker to revoke the same at any time, provided that no such revocation shall be effective if there is any indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom the Broker called upon to do so, the Broker reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any indebtedness owing to the Broker and the Broker Group Companies. 4.9 Subject to the provisions of the SFO, the Client agrees that the Broker is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client held in the Account with any third party for any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of Broker on the aforesaid RulesClient’s behalf, the Client hereby authorizes The the Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other personsper sons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. The Broker may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by the Broker from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent of The subject to any lien, and/or are not held as collateral by the Broker withdraw or any securities collateralBroker Group Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, the Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that the Broker is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on a recognized market as defined under the SFO (including the market operated by SEHK SEHK) or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker AIF SEC (“Local Securities CollateralSecurities”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker AIF SEC in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cB) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by AIF SEC on the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid RulesClient’s behalf, the Client hereby authorizes The Broker AIF SEC to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The Broker AIF SEC on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The Broker AIF SEC has no obligation to insure the Client against any kind of risk. The Broker AIF SEC shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The Broker AIF SEC not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker AIF SEC shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The BrokerAIF SEC. For any securities forming part of a larger holding of identical securities which are held by The Broker AIF SEC for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The BrokerAIF SEC. The Broker AIF SEC shall not be responsible for any failure in making such distribution of any party which holds securities of the Client for safekeeping. AIF SEC may also exercise voting right on behalf of the Client with respect to such securities upon prior specific instruction received by AIF SEC from the Client. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and 2.5 Securities purchased for the Client shall will be delivered to the Client (or as the Client may direct) PROVIDED THAT such securities are fully paid and are not without consent subject to any lien, and/or are not held as collateral by AIF SEC or any of The Broker withdraw any securities collateralits Associates. 4.6 The Broker 2.6 AIF SEC is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The BrokerAIF SEC, The Broker AIF SEC is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker AIF SEC or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, AIF SEC shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees that AIF SEC is entitled to give retain for its own benefit and not accountable to the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或any purpose by AIF SEC.

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or; (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The the Broker, the Client agrees to give the standing authority to The the Broker to authorize The the Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或the Broker; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Broker's settlement obligations and liabilities. Such authority shall remain valid for a period of twelve (12) months from the approval date of the opening of the Margin Account unless the Client gives not less than seven (7) business days' prior written notice to the Broker to revoke the same at any time, provided that no such revocation shall be effective if there is any indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom the Broker called upon to do so, the Broker reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any indebtedness owing to the Broker and the Broker Group Companies. 4.9 Subject to the provisions of the SFO, the Client agrees that the Broker is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client held in the Account with any third party for any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker (“Local Securities CollateralSecurities”) shall be: (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (c) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by The Broker on the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid RulesClient’s behalf, the Client hereby authorizes The Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The Broker. For any securities forming part of a larger holding of identical securities which are held by The Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the ClientClient for safekeeping. 4.5 For so long as there exists any indebtedness to The Broker on the part of the Client, The Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The Broker, the Client agrees to give the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (a) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The Broker, the Client agrees to give the standing authority to The Broker to authorize The Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (a) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或

SECURITIES IN THE ACCOUNT. 4.1 The securities collateral in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The the Broker (“Local Securities Collateral”) shall be: (aA) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The the Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or; (bB) deposited in an account in the name of The the Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (cC) registered in the name of the Client or The the Broker. 4.2 In respect of any securities of the Client other than Local Securities Collateral to which the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid Rules, the Client authorizes The the Broker in its discretion to deposit, transfer, lend, pledge, repledge or otherwise deal with such securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to The the Broker) The the Broker thinks fit. 4.3 Any securities collateral held by The the Broker on behalf of the Client in the manner mentioned in Clauses 4.1 and 4.2 or otherwise shall be at the sole risk of the Client and The the Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities under the aforesaid clauses in the absence of bad faith or wilful default of or by The the Broker. 4.4 For any securities of the Client deposited with The the Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The the Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The the Broker. For any securities forming part of a larger holding of identical securities which are held by The the Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The the Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the Client. 4.5 For so long as there exists any indebtedness to The the Broker on the part of the Client, The the Broker may refuse any withdrawal of securities collateral and the Client shall not without consent of The the Broker withdraw any securities collateral. 4.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 Without prejudice to any other rights and remedies available to The the Broker, The the Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The the Broker or a third person. 4.8 Without prejudice to any other right or remedy available to The the Broker, the Client agrees to give the standing authority to The the Broker to authorize The the Broker to deal with the Local Securities Collateral from time to time received or held on the Client’s behalf in one or more of the following ways (inter alia), namely to: (aA) apply any of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or; (bB) deposit any of Local Securities Collateral with an authorized financial institution as collateral for financial accommodation provided to The 除，而任何該等免除、和解或解除因此須被視為受到限制；或the Broker; or (C) deposit any of Local Securities Collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the Broker's settlement obligations and liabilities.Such authority shall remain valid for aperiod of twelve (12) months from the approval date of the opening of the Margin Account unless the Client gives not less than seven (7) business days’ prior written notice to the Broker to revoke the same at any time, provided that no such revocation shall be effective if there is any indebtedness in the Margin Account. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant rules made under the SFO. If the Client requests for revocation of such standing authority or the standing authority has not been renewed by the Client whom the Broker called upon to do so, the Broker reserves the right to terminate this Agreement and operations of the Margin Account and then the Client shall forthwith settle any indebtedness owing to the Broker. 4.9 Subject to the provisions of the SFO, the Client agrees that the Broker is entitled to retain for its own benefit and not accountable to the Client for any fee, income, rebate or other benefits resulting from any lending or deposit of the securities of the Client held in the Account with any third party for any purpose by the Broker.

SECURITIES IN THE ACCOUNT. 4.1 2.1 The securities collateral of the Client in the Account shall be treated and dealt with in compliance with the provisions of the SFO. In particular, the securities collateral which are listed or traded on market operated by SEHK or interests in an authorized collective investment scheme (as defined in the SFO) and are received or held in Hong Kong by The Broker (“Local Securities CollateralSecurities”) shall be: (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and maintained by The Broker in Hong Kong with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (b) deposited in an account in the name of The Broker with an authorized financial institution, a custodian approved by the SFC or another intermediary licensed for dealing in securities; or (c) registered in the name of the Client or The BrokerClient. 4.2 2.2 In respect of any securities of the Client other than Local Securities Collateral to which (“Overseas Securities”) held for safekeeping by any other party engaged by The Broker on the Securities and Futures (Client Securities) Rules are not applicable under Section 3 of the aforesaid RulesClient’s behalf, the Client hereby authorizes The Broker to instruct the relevant party on behalf of the Client to deposit such Overseas Securities in the safe custody of that party or its discretion to deposit, transfer, lend, pledge, repledge custodian or otherwise deal with such securities to any other parties institution in whatsoever manner and the relevant jurisdiction where the relevant Transaction was effected which provides facilities for any purpose (including without limitation as security for financial accommodation provided to The Broker) The Broker thinks fitthe safe custody of documents. 4.3 2.3 Any securities collateral held by The Broker on behalf of the Client in the manner mentioned in Clauses 4.1 2.1 and 4.2 2.2 or otherwise shall be at the sole risk of the Client and The Broker has no obligation to insure the Client against any kind of risk. The Broker shall not be responsible for any losses, costs, damages, interests and charges arising from or in connection with such dealing of securities engagement or custody under the aforesaid clauses in clauses, including without limitation any losses arising from fraud or negligence of the absence of bad faith or wilful default of or by The Brokerparty so engaged. 4.4 2.4 For any securities of the Client deposited with The Broker not registered in the name of the Client, any dividend, distribution or benefits accrued in respect of such securities which are received by The Broker shall be credited to the Account (or payment made to the Client as may be agreed) subject to a reasonable administration fee charged by The Broker. For any securities forming part of a larger holding of identical securities which are held by The Broker for the Client and other persons, the Client is entitled to the same share of the benefits arising on the holding as the share of the Client of the total holding which is also subject to a reasonable administration fee charged by The Broker. The Broker shall not be responsible for any failure in making such distribution of any party which holds securities of the ClientClient for safekeeping. 4.5 For so long 2.5 Securities purchased for the Client will be delivered to the Client (or as there exists the Client may direct) PROVIDED THAT such securities are fully paid and are not subject to any indebtedness to lien, and/or are not held as collateral by The Broker on the part of the Client, The Broker may refuse or any withdrawal of securities collateral and the Client shall not without consent of The Broker withdraw any securities collateralSOLOMON Company. 4.6 2.6 The Broker is not obliged to return the securities originally delivered or deposited by the Client but may return securities of the same class, denominations and nominal amount and ranking to the Client. 4.7 2.7 Without prejudice to any other rights and remedies available to The Broker, The Broker is authorized to dispose of any of the securities from time to time received from or held on behalf of the Client in settlement of any liability owed by the Client or on the Client’s behalf to The Broker or a third person. 4.8 Without prejudice 2.8 Except as provided in Clause 2.7 of the Additional Terms for Cash Account or Clauses 3.2, 6.2 and 7 of the General Terms and Conditions or permitted under the SFO, The Broker shall not without the Client’s oral or written direction or standing authority deposit, transfer, lend, pledge, re-pledge or otherwise deal with any securities of the Client. 2.9 Subject to any other right or remedy available to The Brokerthe provisions of the SFO, the Client agrees to give the standing authority to that The Broker is entitled to authorize The Broker retain for its own benefit and not accountable to deal with the Local Securities Collateral Client for any fee, income, rebate or other benefits resulting from time to time received any lending or held on the Client’s behalf in one or more deposit of the following ways (inter alia), namely to: (a) apply any securities of the Local Securities Collateral pursuant to a securities borrowing and lending agreement; or (b) deposit Client with any of Local Securities Collateral with an authorized financial institution as collateral third party for financial accommodation provided to any purpose by The 除，而任何該等免除、和解或解除因此須被視為受到限制；或Broker.