Common use of Short, Short Exempt and Long Sales Clause in Contracts

Short, Short Exempt and Long Sales. When placing any order to sell securities short, Customer is responsible for designating the order as such, and Customer hereby authorizes IB to xxxx the order as being “short” or “short exempt”. In placing any long sell order, Customer will designate the order as such and hereby authorizes IB to xxxx the order as being “long.” The designation of a sell order as being “long” shall constitute a representation by Customer that (i) Customer owns the security with respect to which the sale order has been placed and (ii) if Prime Broker does not have the security in its possession at the time Customer places the sell order, Customer shall deliver the security to Prime Broker by settlement date in good deliverable form and if Customer fails to deliver as such, pay to IB any losses and expenses it may incur or sustain as a result of Prime Broker's failure to settle any such transaction on Customer's behalf. Customer further agrees to provide IB with information concerning any securities borrowing arrangements made by Customer and/or Prime Broker in connection with any short sales.

Short, Short Exempt and Long Sales. When placing any order to sell securities short, Customer is responsible for designating the order as such, and Customer hereby authorizes IB to xxxx the order as being “short” or “short exempt”. In placing any long sell order, Customer will designate the order as such and hereby authorizes IB to xxxx the order as being “long.” The designation of a sell order as being “long” shall constitute a representation by Customer that (i) Customer owns the security with respect to which the sale order has been placed and (ii) if Prime Broker does not have the security in its possession at the time Customer places the sell order, Customer shall deliver the security to Prime Broker by settlement date in good deliverable form and if Customer fails to deliver as such, pay to IB any losses and expenses it may incur or sustain as a result of Prime Broker's ’s failure to settle any such transaction on Customer's ’s behalf. Customer further agrees to provide IB with information concerning any securities borrowing arrangements made by Customer and/or Prime Broker in connection with any short sales.

Short, Short Exempt and Long Sales. When placing any order to sell securities short, Customer is responsible for designating the order as such, and Customer hereby authorizes IB the Clearing Broker to xxxx the order as being “short” or “short exempt”. In placing any and long sell order, Customer will designate the order as such and hereby authorizes IB the Clearing Broker to xxxx the order as being “long.” The designation of a sell order as a being “long” shall constitute a representation by Customer that (i) Customer owns the security with respect to which the sale order has been placed and (ii) if Prime Broker does not have the security in its possession at the time Customer places the sell order, Customer shall deliver the security to Prime Broker by settlement date in good deliverable form and if Customer fails to deliver as such, pay to IB the Clearing Broker any losses and expenses it may incur or sustain as a result of Prime Broker's failure to settle any such transaction Brokerage Transaction on Customer's ’s behalf. Customer further agrees to provide IB the Clearing Broker with information concerning any securities borrowing arrangements made by Customer and/or Prime Broker in connection with any short sales.

Short, Short Exempt and Long Sales. When placing any order to sell securities short, Customer the Client is responsible for designating the order as such, and Customer the Client hereby authorizes IB authorises IBIE to xxxx the order as being “short” or “short exempt”. In placing any long sell order, Customer the Client will designate the order as such and hereby authorizes IB authorises IBIE to xxxx the order as being “long.” The designation of a sell order as being “long” shall constitute a representation by Customer the Client that (i) Customer the Client owns the security with respect to which the sale order has been placed and (ii) if Prime Broker does not have the security in its possession at the time Customer the Client places the sell order, Customer the Client shall deliver the security to Prime Broker by settlement date in good deliverable form and if Customer the Client fails to deliver as such, pay to IB IBIE any losses and expenses it may incur or sustain as a result of Prime Broker's failure to settle any such transaction on Customerthe Client's behalf. Customer The Client further agrees to provide IB IBIE with information concerning any securities borrowing arrangements made by Customer the Client and/or Prime Broker in connection with any short sales.