Common use of Default by the Customer Clause in Contracts

Default by the Customer. The securities are temporarily posted to the Account Holder’s securities account until SGSS collects the total net proceeds of the purchase. Failing payment within the stipulated time frame, in accordance with the applicable regulations, the securities remain fully owned by SGSS, as a guarantee of payment of the sums owed by the Account Holder. SGSS will sell the shares that were the subject of the buy order on the stock market within 15 business days after providing formal notice. The Account Holder remains liable to SGSS for all expenses, penalties or harm suffered as a result of the failure to pay the sums due within the required periods.

Default by the Customer. The securities are temporarily posted to the Account Holder’s securities account until SGSS collects the total net proceeds of the purchase. Failing payment within the stipulated time frame, in accordance with the applicable regulations, the securities remain fully owned by SGSS, as a guarantee of payment of the sums owed by the Account Holder. SGSS will sell the shares that were the subject of the buy order on the stock market within 15 business days after providing formal notice. The Account Holder remains liable to SGSS for all expenses, penalties or harm suffered as a result of the failure to pay the sums due within the required periods.. SPECIAL FEATURE OF OPTION EXERCISE INSTRUCTIONS

Default by the Customer. The securities are temporarily posted to the Account Holder’s securities account until SGSS collects the total net proceeds of the purchase. Failing payment within the stipulated time frame, in accordance with the applicable regulations, the securities remain fully owned by SGSS, as a guarantee of payment of the sums owed by the Account Holder. SGSS will sell the shares that were the subject of the buy order on the stock market within 15 business days after providing formal notice. The Account Holder remains liable to SGSS for all expenses, penalties or harm suffered as a result of the failure to pay the sums due within the required periods.. GENERAL TERMS AND CONDITIONS SPECIAL FEATURE OF OPTION EXERCISE INSTRUCTIONS