Common use of TRADING AND SETTLEMENT Clause in Contracts

TRADING AND SETTLEMENT. a. The Client hereby agrees that all transactions undertaken through the Account will be on a cash settlement basis unless the Client has entered into a margin trading agreement with ENBD Capital KSA. b. If the Client conducts a transaction for the purchase of Investments, the Client undertakes to have sufficient cash funds in the Account at the time the Client places an order. Accordingly, the Client acknowledges and agrees that ENBD Capital KSA may choose not to act on a purchase order or instruction from the Client if the Account does not contain at least the Minimum Amount or if ENBD Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such purchase order or instructions.. c. Likewise, if the Client conducts a transaction on a cash basis for the sale of Investments, the Client undertakes to have a sufficient quantity of such Investments in good delivery form in the Account at the time the Client places the sell order. Accordingly, the Client acknowledges and agrees that ENBD Capital KSA may choose not to act on a sell order or instruction from the Client if ENBD Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such a sale order or instructions. The Client further acknowledges that in any event Xxxxxxx's trading system will not allow the execution of a sell order in respect of Securities if the Client does not have a sufficient number of the relevant Securities available in its securities account held with the Securities Depository Center. d. In the event of Settlement Failure, the Client indemnifies ENBD Capital KSA for: i. All costs, charges, expenses, losses or other amounts incurred by ENBD Capital KSA in relation to the Settlement Failure including in relation to any steps undertaken to remedy the Settlement Failure as permitted under the Implementing Regulations (including, but not limited to, with respect to buying on the open market, optional buy-ins or securities borrowing and lending where the settlement failure occurs with respect to a sell order); ii. All late settlement fees and other penalties payable to Tadawul, the Securities Depository Centre or counterparties on the trade due to the Settlement Failure; and iii. Any other applicable liabilities, penalties, losses, costs or charges incurred by ENBD Capital KSA as a result of the Settlement Failure. e. The Client represents and warrants to ENBD Capital KSA that none of the Investments is subject to any Encumbrance, and the Client covenants that it will not create or permit to subsist any Encumbrance over any of the Investments unless ENBD Capital KSA consents to such Encumbrance in writing. f. The Client, by way of security for the performance of its obligations under this Agreement, hereby irrevocably appoints ENBD Capital KSA to be its attorney and in its name and on its behalf to perform such acts and deeds and execute and deliver such documents and instruments as ENBD Capital KSA may consider necessary or desirable in connection with the correction of any Settlement Failure and the perfection, preservation and/or enforcement of ENBD Capital KSA's rights under this Agreement. g. Where the Client has appointed an independent custodian under the Independent Custody Framework (as contemplated in Clause 12.a(iii)), the Client acknowledges that: i. Settlement of the Client's trades may be subject to daily settlement limits which are set by the independent custodian with Xxxxxxx; and ii. the independent custodian may reject buy or sell orders in circumstances permitted by the Securities Depository Centre, the Implementing Regulations or as otherwise may be agreed between the Client, the independent custodian and ENBD Capital KSA.

TRADING AND SETTLEMENT. a. 9.1 The Client hereby agrees that all transactions undertaken through the Account will be on a cash settlement basis unless the Client has entered into a margin trading agreement with ENBD Capital KSANCB Capital. b. 9.2 If the Client conducts a transaction for the purchase of Investments, the Client undertakes to have sufficient cash funds in the Account at the time the Client places an order. Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a purchase order or instruction from the Client if the Account does not contain at least the Minimum Amount or if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such purchase order or instructions.. c. 9.3 Likewise, if the Client conducts a transaction on a cash basis for the sale of Investments, the Client undertakes to have a sufficient quantity of such Investments in good delivery form in the Account at the time the Client places the sell order. order Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a sell order or instruction from the Client if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such a sale order or instructions. The Client further acknowledges that in any event XxxxxxxTadawul's trading system will not allow the execution of a sell order in respect of Securities if the Client does not have a sufficient number of the relevant Securities available in its securities account held with the Securities Security Depository CenterCentre. d. 9.4 In the event of Settlement Failure, Failure the Client indemnifies ENBD NBC Capital KSA for: i. All (a) all costs, charges, expenses, losses or other amounts incurred by ENBD NCB Capital KSA in relation to the Settlement Failure including in relation to any steps undertaken to remedy the Settlement Failure as permitted under the Implementing Regulations (including, but not limited to, with respect to buying on the open market, optional buy-buy ins or securities borrowing and lending where the settlement failure occurs with respect to a sell order); ii. All (b) all late settlement fees and other penalties payable to Tadawul, the Securities Depository Security Depositary Centre or counterparties on the trade due to the Settlement Failure; and iii. Any (c) any other applicable liabilities, penalties, losses, costs or charges incurred by ENBD NCB Capital KSA as a result of the Settlement Failure. e. 9.5 The Client represents and warrants to ENBD NCB Capital KSA that none of the Investments is subject to any Encumbrance, and the Client covenants that it will not create or permit to subsist any Encumbrance over any of the Investments unless ENBD NCB Capital KSA consents to such Encumbrance encumbrance in writing. f. 9.6 The Client, by way of security for the performance of its obligations under this Agreement, hereby irrevocably appoints ENBD NCB Capital KSA to be its attorney and in its name and on its behalf to perform such acts and deeds and execute and deliver such documents and instruments as ENBD NCB Capital KSA may consider necessary or desirable in connection with the correction of any Settlement Failure and the perfection, preservation and/or enforcement of ENBD Capital KSANCB Capital's rights under this Agreement. g. 9.7 Where the Client has appointed an independent custodian under the Independent Custody Framework (as contemplated in Clause 12.a(iii12.1(c)), the Client acknowledges that: i. Settlement (a) settlement of the Client's trades may be subject to daily settlement limits which are set by the independent custodian with XxxxxxxTadawul; and ii. and the independent custodian may reject buy or sell orders in circumstances permitted by the Securities Depository Centre, the Implementing Regulations or as otherwise may be agreed between the Client, the independent custodian and ENBD Capital KSANCB Capital.

TRADING AND SETTLEMENT. a. 9.1 The Client hereby agrees that all transactions undertaken through the Account will be on a cash settlement basis unless the Client has entered into a margin trading agreement with ENBD Capital KSANCB Capital. b. 9.2 If the Client conducts a transaction for the purchase of Investments, the Client undertakes to have sufficient cash funds in the Account at the time the Client places an order. Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a purchase order or instruction from the Client if the Account does not contain at least the Minimum Amount or if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such purchase order or instructions.. c. 9.3 Likewise, if the Client conducts a transaction on a cash basis for the sale of Investments, the Client undertakes to have a sufficient quantity of such Investments in good delivery form in the Account at the time the Client places the sell order. order Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a sell order or instruction from the Client if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such a sale order or instructions. The Client further acknowledges that in any event Xxxxxxx's Tadawul’s trading system will not allow the execution of a sell order in respect of Securities if the Client does not have a sufficient number of the relevant Securities available in its securities account held with the Securities Security Depository CenterCentre. d. 9.4 In the event of Settlement Failure, Failure the Client indemnifies ENBD NBC Capital KSA for: i. All (a) all costs, charges, expenses, losses or other amounts incurred by ENBD NCB Capital KSA in relation to the Settlement Failure including in relation to any steps undertaken to remedy the Settlement Failure as permitted under the Implementing Regulations (including, but not limited to, with respect to buying on the open market, optional buy-buy ins or securities borrowing and lending where the settlement failure occurs with respect to a sell order); ii. All (b) all late settlement fees and other penalties payable to Tadawul, the Securities Depository Security Depositary Centre or counterparties on the trade due to the Settlement Failure; and iii. Any (c) any other applicable liabilities, penalties, losses, costs or charges incurred by ENBD NCB Capital KSA as a result of the Settlement Failure. e. 9.5 The Client represents and warrants to ENBD NCB Capital KSA that none of the Investments is subject to any Encumbrance, and the Client covenants that it will not create or permit to subsist any Encumbrance over any of the Investments unless ENBD NCB Capital KSA consents to such Encumbrance encumbrance in writing. f. 9.6 The Client, by way of security for the performance of its obligations under this Agreement, hereby irrevocably appoints ENBD NCB Capital KSA to be its attorney and in its name and on its behalf to perform such acts and deeds and execute and deliver such documents and instruments as ENBD NCB Capital KSA may consider necessary or desirable in connection with the correction of any Settlement Failure and the perfection, preservation and/or enforcement of ENBD Capital KSA's NCB Capital’s rights under this Agreement. g. 9.7 Where the Client has appointed an independent custodian under the Independent Custody Framework (as contemplated in Clause 12.a(iii12.1(c)), the Client acknowledges that: i. Settlement (a) settlement of the Client's ’s trades may be subject to daily settlement limits which are set by the independent custodian with XxxxxxxTadawul; and ii. and the independent custodian may reject buy or sell orders in circumstances permitted by the Securities Depository Centre, the Implementing Regulations or as otherwise may be agreed between the Client, the independent custodian and ENBD Capital KSANCB Capital.

TRADING AND SETTLEMENT. a. 9.1 The Client hereby agrees that all transactions undertaken through the Account will be on a cash settlement basis unless the Client has entered into a margin trading agreement with ENBD Capital KSANCB Capital. b. 9.2 If the Client conducts a transaction for the purchase of Investments, the Client undertakes to have sufficient cash funds in the Account at the time the Client places an order. Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a purchase order or instruction from the Client if the Account does not contain at least the Minimum Amount or if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such purchase order or instructions... c. 9.3 The Client may from time to time instruct and authorize NCB Capital, using the feature on NCB Capital Platform, to debit the Client’s bank account with the National Commercial Bank for purposes of crediting cash to the Account for the Client to conduct transactions for purchase of Investments. By electing to use this feature the Client shall be deemed to have irrevocably provided all authorizations and consents to NCB Capital necessary for it to take actions and steps to debit the Client’s bank account with the National Commercial Bank. 9.4 Likewise, if the Client conducts a transaction on a cash basis for the sale of Investments, the Client undertakes to have a sufficient quantity of such Investments in good delivery form in the Account at the time the Client places the sell order. order Accordingly, the Client acknowledges and agrees that ENBD NCB Capital KSA may choose not to act on a sell order or instruction from the Client if ENBD NCB Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such a sale order or instructions. The Client further acknowledges that in any event Xxxxxxx's trading system will not allow the execution of a sell order in respect of Securities if the Client does not have a sufficient number of the relevant Securities available in its securities account held with the Securities Security Depository CenterCentre. d. 9.5 In the event of Settlement Failure, Failure the Client indemnifies ENBD NBC Capital KSA for: i. All (a) all costs, charges, expenses, losses or other amounts incurred by ENBD NCB Capital KSA in relation to the Settlement Failure including in relation to any steps undertaken to remedy the Settlement Failure as permitted under the Implementing Regulations (including, but not limited to, with respect to buying on the open market, optional buy-buy ins or securities borrowing and lending where the settlement failure occurs with respect to a sell order); ii. All (b) all late settlement fees and other penalties payable to Tadawul, the Securities Depository Security Depositary Centre or counterparties on the trade due to the Settlement Failure; and iii. Any (c) any other applicable liabilities, penalties, losses, costs or charges incurred by ENBD NCB Capital KSA as a result of the Settlement Failure. e. 9.6 The Client represents and warrants to ENBD NCB Capital KSA that none of the Investments is subject to any Encumbrance, and the Client covenants that it will not create or permit to subsist any Encumbrance over any of the Investments unless ENBD NCB Capital KSA consents to such Encumbrance encumbrance in writing. f. 9.7 The Client, by way of security for the performance of its obligations under this Agreement, hereby irrevocably appoints ENBD NCB Capital KSA to be its attorney and in its name and on its behalf to perform such acts and deeds and execute and deliver such documents and instruments as ENBD NCB Capital KSA may consider necessary or desirable in connection with the correction of any Settlement Failure and the perfection, preservation and/or enforcement of ENBD Capital KSANCB Capital's rights under this Agreement. g. 9.8 Where the Client has appointed an independent custodian under the Independent Custody Framework (as contemplated in Clause 12.a(iii12.1(c)), the Client acknowledges that: i. Settlement (a) settlement of the Client's trades may be subject to daily settlement limits which are set by the independent custodian with Xxxxxxx; and ii. and the independent custodian may reject buy or sell orders in circumstances permitted by the Securities Depository Centre, the Implementing Regulations or as otherwise may be agreed between the Client, the independent custodian and ENBD Capital KSANCB Capital.

TRADING AND SETTLEMENT. a. The Client hereby agrees that all transactions undertaken through the Account will be on a cash settlement basis unless the Client has entered into a margin trading agreement with ENBD Capital KSA. b. If the Client conducts a transaction for the purchase of Investments, the Client undertakes to have sufficient cash funds in the Account at the time the Client places an order. Accordingly, the Client acknowledges and agrees that ENBD Capital KSA may choose not to act on a purchase order or instruction from the Client if the Account does not contain at least the Minimum Amount or if ENBD Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such purchase order or instructions.. c. Likewise, if the Client conducts a transaction on a cash basis for the sale of Investments, the Client undertakes to have a sufficient quantity of such Investments in good delivery form in the Account at the time the Client places the sell order. Accordingly, the Client acknowledges and agrees that ENBD Capital KSA may choose not to act on a sell order or instruction from the Client if ENBD Capital KSA otherwise believes, in its sole discretion, that a Settlement Failure may result from acting on such a sale order or instructions. The Client further acknowledges that in any event XxxxxxxTadawul's trading system will not allow the execution of a sell order in respect of Securities if the Client does not have a sufficient number of the relevant Securities available in its securities account held with the Securities Depository Center. d. In the event of Settlement Failure, the Client indemnifies ENBD Capital KSA for: i. All all costs, charges, expenses, losses or other amounts incurred by ENBD Capital KSA in relation to the Settlement Failure including in relation to any steps undertaken to remedy the Settlement Failure as permitted under the Implementing Regulations (including, but not limited to, with respect to buying on the open market, optional buy-ins or securities borrowing and lending where the settlement failure occurs with respect to a sell order); ii. All all late settlement fees and other penalties payable to Tadawul, the Securities Depository Centre or counterparties on the trade due to the Settlement Failure; and iii. Any any other applicable liabilities, penalties, losses, costs or charges incurred by ENBD Capital KSA as a result of the Settlement Failure. e. The Client represents and warrants to ENBD Capital KSA that none of the Investments is subject to any Encumbrance, and the Client covenants that it will not create or permit to subsist any Encumbrance over any of the Investments unless ENBD Capital KSA consents to such Encumbrance in writing. f. The Client, by way of security for the performance of its obligations under this Agreement, hereby irrevocably appoints ENBD Capital KSA to be its attorney and in its name and on its behalf to perform such acts and deeds and execute and deliver such documents and instruments as ENBD Capital KSA may consider necessary or desirable in connection with the correction of any Settlement Failure and the perfection, preservation and/or enforcement of ENBD Capital KSA's rights under this Agreement. g. Where the Client has appointed an independent custodian under the Independent Custody Framework (as contemplated in Clause 12.a(iii)), the Client acknowledges that: i. Settlement of the Client's trades may be subject to daily settlement limits which are set by the independent custodian with XxxxxxxTadawul; and ii. the independent custodian may reject buy or sell orders in circumstances permitted by the Securities Depository Centre, the Implementing Regulations or as otherwise may be agreed between the Client, the independent custodian and ENBD Capital KSA.