Common use of COLLATERAL AND LENDING AGREEMENT Clause in Contracts

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Customer which CRONOSCAP MARKETS LIMITED or its affiliates may at any time be carrying for Customer (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by CRONOSCAP MARKETS LIMITED as security and subject to a general lien and right of set-off for liabilities of Customer to CRONOSCAP MARKETS LIMITED whether or not CRONOSCAP MARKETS LIMITED has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer may have with CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS LIMITED may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts. Customer hereby also grants to CRONOSCAP MARKETS LIMITED the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by CRONOSCAP MARKETS LIMITED as margin or security. CRONOSCAP MARKETS LIMITED shall at no time be required to deliver to Customer the identical property delivered to or purchased by CRONOSCAP MARKETS LIMITED for any account of Customer. This authorization shall apply to all accounts carried by CRONOSCAP MARKETS LIMITED for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by CRONOSCAP MARKETS LIMITED from its home office. Any failure by CRONOSCAP MARKETS LIMITED to enforce its rights hereunder shall not be deemed a future waiver of such rights by CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS LIMITED is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that CRONOSCAP MARKETS LIMITED deems necessary or desirable to evidence or to protect CRONOSCAP MARKETS LIMITED’s interest with respect to any collateral. In the event that the collateral deemed acceptable to CRONOSCAP MARKETS LIMITED is at any time insufficient to satisfy Customer’s indebtedness or other obligations to CRONOSCAP MARKETS LIMITED, including obligations to provide margin in accordance with section 4 above, Customer shall promptly pay upon demand the entire amount of such deficit.

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Customer which CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED or its affiliates may at any time be carrying for Customer (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as security and subject to a general lien and right of set-off for liabilities of Customer to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED whether or not CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer may have with CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED BLUE OCEAN FINANCIALS LIMITED may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts. Customer hereby also grants to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as margin or security. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED shall at no time be required to deliver to Customer the identical property delivered to or purchased by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for any account of Customer. This authorization shall apply to all accounts carried by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED from its home office. Any failure by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED to enforce its rights hereunder shall not be deemed a future waiver of such rights by CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED BLUE OCEAN FINANCIALS LIMITED is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver CUSTOMER AGREEMENT 6 any documents, give any notice and to take any actions on behalf of CustomerXxxxxxxx, including the execution, delivery and filing of financing statements, that CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED deems necessary or desirable to evidence or to protect CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED’s interest with respect to any collateral. In the event that the collateral deemed acceptable to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED is at any time insufficient to satisfy Customer’s indebtedness or other obligations to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED, including obligations to provide margin in accordance with section 4 above, Customer shall promptly pay upon demand the entire amount of such deficit.

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Customer which CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED or its affiliates may at any time be carrying for Customer (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as security and subject to a general lien and right of set-off for liabilities of Customer to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED whether or not CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED has made advances CUSTOMER AGREEMENT 5 in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts accounts. Customer may have with CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts. Customer hereby also grants to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as margin or security. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED shall at no time be required to deliver to Customer the identical property delivered to or purchased by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for any account of Customer. This authorization shall apply to all accounts carried by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED from its home office. Any failure by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED to enforce its rights hereunder shall not be deemed a future waiver of such rights by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED deems necessary or desirable to evidence or to protect CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED’s interest with respect to any collateral. In the event that the collateral deemed acceptable to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED is at any time insufficient to satisfy Customer’s indebtedness or other obligations to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED, including obligations to provide margin in accordance with section 4 above, Customer shall promptly pay upon demand the entire amount of such deficit.

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Customer which CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED or its affiliates may at any time be carrying for Customer (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, CUSTOMER AGREEMENT 5 including safekeeping, are to be held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as security and subject to a general lien and right of set-off for liabilities of Customer to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED whether or not CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts accounts. Customer may have with CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED BLUE OCEAN FINANCIALS LIMITED may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts. Customer hereby also grants to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED as margin or security. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED shall at no time be required to deliver to Customer the identical property delivered to or purchased by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for any account of Customer. This authorization shall apply to all accounts carried by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED from its home office. Any failure by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED to enforce its rights hereunder shall not be deemed a future waiver of such rights by CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED. CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED deems necessary or desirable to evidence or to protect CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED’s interest with respect to any collateral. In the event that the collateral deemed acceptable to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED is at any time insufficient to satisfy Customer’s indebtedness or other obligations to CRONOSCAP MARKETS BLUE OCEAN FINANCIALS LIMITED, including obligations to provide margin in accordance with section 4 above, Customer shall promptly pay upon demand the entire amount of such deficit.

COLLATERAL AND LENDING AGREEMENT. All funds, securities, currencies, and other property of Customer which CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED or its affiliates may at any time be carrying for Customer (either individually, jointly with other, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED as security and subject to a general lien and right of set-off for liabilities of Customer to CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED whether or not CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer may have with CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED HILLTOP BOLSA INTERNATIONAL LIMITED may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts. Customer hereby also grants to CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED the right to pledge, repledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED as margin or security. CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED shall at no time be required to deliver to Customer the identical property delivered to or purchased by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED for any account of Customer. This authorization shall apply to all accounts carried by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED from its home office. Any failure by CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED to enforce its rights hereunder shall not be deemed a future waiver of such rights by CRONOSCAP MARKETS LIMITED. CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED HILLTOP BOLSA INTERNATIONAL LIMITED is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED deems necessary or desirable to evidence or to protect CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED’s interest with respect to any collateral. In the event that the collateral deemed acceptable to CRONOSCAP MARKETS HILLTOP BOLSA INTERNATIONAL LIMITED is at any time insufficient to satisfy Customer’s indebtedness or other obligations to CRONOSCAP MARKETS HILLTOP CUSTOMER AGREEMENT 7 BOLSA INTERNATIONAL LIMITED, including obligations to provide margin in accordance with section 4 above, Customer shall promptly pay upon demand the entire amount of such deficit.