Common use of Timely Instructions Clause in Contracts

Timely Instructions. You agree that if you wish to sell, purchase, close out and/or exercise any Option prior to its expiry date, it is your sole responsibility to provide complete instructions to the Firm within the time periods as the Firm may establish from time to time. With respect to expiring Options, you agree to instruct the Firm within the time periods as the Firm may establish from time to time. If you fail to give the Firm timely instructions, the Firm may take any action with respect to an Option that the Firm in its sole discretion determines should be taken. You acknowledge that the Firm has no duty or obligation to take any action with respect to an Option without your specific instructions to that effect. You acknowledge that in the event that you fail to instruct the Firm to sell, close out, exercise or do not exercise an Option on the expiry date within the time periods established by the Firm, and where the Option is one which, in the Firm’s opinion, if sold, closed out or exercised would result in a benefit to you, the Firm is entitled to act in its discretion to sell, close out or exercise such Option for the purpose of obtaining this benefit for you. For greater certainty, you acknowledge that if you instruct the Firm to not automatically sell an Option on the expiry date, and you do not have sufficient funds in your Account to exercise the Option, the Firm will allow the Option to expire. If, for any reason, an expiring Option is not sold, closed out or exercised on your behalf, the Firm and its affiliates are not liable.

Timely Instructions. You agree that if you wish to sell, purchase, close out and/or exercise any Option prior to its expiry date, it is your sole responsibility to provide complete instructions to the Firm within the time periods as the Firm may establish from time to time. With respect to expiring Options, you agree to instruct the Firm within the time periods as the Firm may establish from time to time. If you fail to give the Firm timely instructions, the Firm may take any action with respect to an Option that the Firm in its sole discretion determines should be taken. You acknowledge that the Firm has no duty or obligation to take any action with respect to an Option without your specific instructions to that effect. You acknowledge that in the event that you fail to instruct the Firm to sell, close out, exercise or do not exercise an Option on the expiry date within the time periods established by the Firm, and where the Option is one which, in the Firm’s opinion, if sold, closed out or exercised would result in a benefit to you, the Firm is entitled to act in its discretion to sell, close out or exercise such Option for the purpose of obtaining this benefit for you. . For greater certainty, you acknowledge that if you instruct the Firm to not automatically sell an Option on the expiry date, and you do not have sufficient funds in your Account to exercise the Option, the Firm will allow the Option to expire. If, for any reason, an expiring Option is not sold, closed out or exercised on your behalf, the Firm and its affiliates are not liable.