Common use of SPV Clause in Contracts

SPV. SPV is a passive entity that does not have any staff and that does not actively perform actions itself. All actions for SPV are performed de facto by Xxxxx. Client agrees explicitly and irrevocably that in case of failure of Finst and/or SPV, Client will only be allowed to recover damage from the assets of Finst and not from the positions held by SPV for the account of the clients of Finst.

SPV. SPV is a passive entity that does not have any staff and that does not actively perform actions itself. All actions for SPV are performed de facto by Xxxxx. Client agrees explicitly and irrevocably that in case of failure of Finst and/or SPV, Client will only be allowed to recover damage from the assets of Finst and not from the positions held by SPV for the account of the clients of Finst.. VB20230417