Transfers of Fractional Shares. You acknowledge that fractional shares cannot be transferred to or from another financial institution from or to your Account, respectively. For greater clarity, requests for transfers to or from another financial institution will only be processed for whole shares. In respect of transfers from your Account to another financial institution involving a combination of whole shares and fractional shares, you acknowledge that you must either (i) reinitiate a partial in-kind transfer for the whole shares and leave the fractional shares with the Firm or (ii) liquidate your fractional shares and reinitiate an in-kind transfer for the whole shares. The Firm may hold your securities and/or deposits at its head office or at any other location where it is customary for the Firm to keep its securities and deposits and the Firm’s responsibilities to you for holding your securities and deposits will be limited to the same degree of care exercised by the Firm in the custody of its own securities and deposits. Certificates for securities of the same issue and for the same aggregate amounts may be delivered to you in lieu of those you may have originally deposited. The Firm may at any time and without notice to you cause any securities in your Account to be registered in your name. Any monies held by the Firm from time to time to your credit are payable on demand, need not be segregated and may be used by the Firm in the ordinary conduct of its business. You acknowledge that the relationship between you and the Firm with respect to such monies is one of debtor and creditor only.
