Common use of Deficit Clause in Contracts

Deficit. It is the responsibility of DEGIRO to always make sure that the value of all positions in money and Financial Instruments, which DEGIRO and SPV hold with third parties for the account and risk of the customers of DEGIRO, corresponds with the value of all rights in money and Financial Instruments of all customers together towards DEGIRO and SPV. It nonetheless may occur that there is a deficit at a given moment in money in a certain currency or in certain Financial Instruments, which SPV holds for the customers of DEGIRO. This could for instance be caused by an error of DEGIRO or of a custodian or prime broker. It goes without saying that XXXXXX will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more customers, the following applies in order to protect the customers of DEGIRO: if there is a deficit in a certain currency or in a certain Financial Instrument, which DEGIRO and SPV holds for the account and risk of the customers of DEGIRO, then DEGIRO will be entitled to divide this deficit over all customers of DEGIRO for whose account such currency or Financial Instrument is or should be held, pro rata to the total position of such currency of Financial Instrument that should be held for each of them. In case of a deficit, XXXXXX is entitled to suspend the execution of Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof. If it becomes clear that the deficit is due to the failure of a customer of DEGIRO to provide sufficient collateral or funding for its investments, then DEGIRO will undo the deficit at its own expense. More information about the distribution of a deficit, can be found in the document Investment Services in the Investment Services Information.

Deficit. It is the responsibility of DEGIRO to always make sure that the value of all positions in money and Financial Instruments, which DEGIRO and SPV hold with third parties for the account and risk of the customers of DEGIRO, corresponds with the value of all rights in money and Financial Instruments of all customers together towards DEGIRO and SPV. It nonetheless may occur that there is a deficit at a given moment in money in a certain currency or in certain Financial Instruments, which SPV holds for the customers of DEGIRO. This could for instance be caused by an error of DEGIRO or of a custodian or prime broker. It goes without saying that XXXXXX will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more customers, the following applies in order to protect the customers of DEGIRO: if there is a deficit in a certain currency or in a certain Financial Instrument, which DEGIRO and SPV holds for the account and risk of the customers of DEGIRO, then DEGIRO will be entitled to divide this deficit over all customers of DEGIRO for whose account such currency or Financial Instrument is or should be held, pro rata to the total position of such currency of Financial Instrument that should be held for each of them. In case of a deficit, XXXXXX is entitled to suspend the execution of Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof. If it becomes clear that the deficit is due to the failure failu re of a customer of DEGIRO to provide sufficient collateral or funding for its investments, then DEGIRO will undo the deficit at its own expense. More information about the distribution of a deficit, can be found in the document Services Information. Investment Services in the Investment Services Information.Investment

Deficit. It is the responsibility of DEGIRO to always make sure that the value of all positions in money and Financial Instruments, which DEGIRO and SPV hold with third parties for the account and risk of the customers of DEGIRO, corresponds with the value of all rights in money and Financial Instruments of all customers together towards DEGIRO and SPV. It nonetheless may occur that there is a deficit at a given moment in money in a certain currency or in certain Financial Instruments, which whi ch SPV holds for the customers of DEGIRO. This could for instance be caused by an error of DEGIRO or of a custodian or prime broker. It goes without saying that XXXXXX will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more mor e customers, the following applies in order to protect the customers of DEGIRO: if there is a deficit in a certain currency or in a certain Financial Instrument, which DEGIRO and SPV holds for the account and risk of the customers of DEGIRO, then DEGIRO will be entitled to divide this deficit over all customers of DEGIRO for whose account such currency or Financial Instrument is or should be held, pro rata to the total position of such currency of Financial Instrument that should be held for each of them. In case of a deficit, XXXXXX is entitled to suspend the execution of Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof. If it becomes clear that the deficit is due to the failure of a customer of DEGIRO to provide sufficient collateral or funding for its investments, then DEGIRO will undo the deficit at its own expense. More information about the distribution of a deficit, can be found in the document Investment Services in the Investment Services Information.

Deficit. It is the responsibility of DEGIRO to always make sure that the value of all positions in money and Financial Instruments, which DEGIRO and SPV hold with third parties for the account and risk of the customers of DEGIRO, corresponds with the value of all rights in money and Financial Instruments of all customers together towards DEGIRO and SPV. It nonetheless may occur that there is a deficit at a given moment in money in a certain currency or in certain Financial Instruments, which SPV holds for the customers of DEGIRO. This could for instance be caused by an error of DEGIRO or of a custodian or prime broker. It goes without saying that XXXXXX will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more customers, the following applies in order to protect the customers of DEGIRO: if there is a deficit in a certain currency or in a certain Financial Instrument, which DEGIRO and SPV holds for the account and risk of the customers of DEGIRO, then DEGIRO will be entitled to divide this deficit over all customers of DEGIRO for whose account such currency or Financial Instrument is or should be held, pro rata to the total position of such currency of Financial Instrument that should be held for each of them. In case of a deficit, XXXXXX is entitled to suspend the execution of Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof. If it becomes clear that the deficit is due to the failure failu re of a customer of DEGIRO to provide sufficient collateral or funding for its investments, then DEGIRO will undo the deficit at its own expense. More information about the distribution of a deficit, can be found in the document Investment Services in the Investment Services Information.