Common use of Bulk Application Clause in Contracts

Bulk Application. If GTJAS or GTJAS’ agents make a bulk application for GTJAS’ own account, on GTJAS’ behalf and/or on behalf of GTJAS’ clients, the Client acknowledges and agrees: (a) that such bulk application may be rejected for reasons which are unrelated to the Client and the Client’s application and neither GTJAS nor GTJAS’ agent shall be liable to the Client or any other person in consequence of such rejection; and (b) to indemnify GTJAS (on demand) against any Loss incurred by GTJAS if such bulk application is rejected either in circumstances where the representations and warranties have been breached or otherwise caused by the acts or omissions relating to the Client or its underlying clients. If such bulk application is accepted in part, GTJAS has the full discretion to allocate the Securities among its clients in such proportion as it thinks fit.