Common use of You acknowledge that Clause in Contracts

You acknowledge that. 11.1 Unless otherwise disclosed to you, we shall be acting as your agent in respect of all Securities Transactions. You are therefore principally liable for, and shall assume all risks (including any counterparty or settlement risk) associated with, all Securities Transactions entered into pursuant to this Agreement and/or any Applicable Agreement, notwithstanding that such Securities Transactions may have been undertaken in our name without disclosure of such agency.