Common use of Delivery Procedures; Options Allocation Procedure Clause in Contracts

Delivery Procedures; Options Allocation Procedure. (i) Customer will provide ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to such Contract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may require in connection with any delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has previously received instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligations, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute discretion, liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, in its sole and absolute discretion, deems necessary or appropriate, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's instructions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will provide Morgan Stanley with instructions either to liquidate Contracts prev▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established ▇shed by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by Morgan Stanley. Morgan Stanley shall have no responsibility to take ▇▇▇ ▇c▇▇▇▇ ▇▇ b▇▇▇▇▇▇ o▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer mer or positions in the Account unless and until Morgan Stanley receives oral or written instructions reasonably acc▇▇▇▇▇▇e ▇▇ ▇▇▇gan Stanley indicating the action Morgan Stanley is to take. Fun▇▇ ▇▇▇f▇▇▇▇▇▇ ▇▇▇▇▇to take delivery pursua▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇ s▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to such Contract tract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to Morgan Stanley at such time as Morgan Stanley may require in connec▇▇▇▇ ▇i▇▇ ▇▇▇ delivery. Short ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may require in connection with any delivery. (ii) Short option Contracts ts may be subject to exercise at any time. Exercise notices received by Morgan Stanley from the applicable contract market with respect to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts ▇ts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley has previously received instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'▇ 's sole responsibility shall be to use its best efforts to notify Customer effor▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇tomer of such allocation. (iii) . If Customer fails to comply with any of the foregoing obligations, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley may, in its sole and absolute discretion, liquidate any open positions▇▇▇ ▇▇e▇ ▇▇▇▇▇ions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇Morgan Stanley, in its sole and absolute discretion, deems necessary or appropriatenecessar▇ ▇▇ ▇p▇▇▇▇▇▇▇te, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley harmless as a result of any action taken or not taken by take▇ ▇▇ ▇o▇▇▇▇ ▇▇▇▇▇▇▇ anley in connection therewith or pursuant to Customer's instructionsin▇▇▇▇▇▇i▇▇▇. ▇inancial and Other Information. Customer shall provide to Morgan Stanley such financial information regarding Customer as Mor▇▇▇ ▇▇a▇▇▇▇ ▇▇y from time to time reasonably request. Customer s▇▇▇▇ ▇o▇▇▇▇ ▇▇rgan Stanley immediately (and no later than within one business d▇▇) ▇▇ ▇▇▇ ▇▇▇ancial condition of Customer changes materially and adversely from that shown in the most recent financial information theretofore provided to Morgan Stanley. An investigation may be conducted pertaining to Cus▇▇▇▇▇'s ▇▇▇▇▇▇ standing and business. Currency Exchange Risk. Customer shall bear all risk and cost in respect of the conversion of currencies incident to transactions effected on behalf of Customer pursuant hereto.

Delivery Procedures; Options Allocation Procedure. (i) Customer will provide ▇▇▇Morgan Stanley with instructions either to liquidate Contra▇▇▇ ▇▇e▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by Morgan Stanley. Morgan Stanley shall have no responsibility ▇▇ ▇▇k▇ ▇▇▇ ▇ct▇▇▇ ▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until Morgan Stanley receives oral or written instructions reason▇▇▇▇ ▇c▇▇▇▇▇▇▇e to Morgan Stanley indicating the action Morgan Stanley is to t▇▇▇. ▇u▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable ficient to take delivery ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇u▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to such Contract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to Morgan Stanley at such time as Morgan Stanley may require i▇ ▇▇▇▇e▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may require in connection with ith any delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by Morgan Stanley from the applicable contract market with res▇▇▇▇ ▇o ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley has previously received instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'▇ Stanley's sole responsibility shall be to use its best efforts to notify effort▇ ▇▇ ▇▇tify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligations, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley may, in its sole and absolute discretion, liquidate any open li▇▇▇▇▇▇e ▇▇▇ ▇▇en positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇Morgan Stanley, in its sole and absolute discretion, deems necessary or appropriate▇▇▇▇▇▇a▇▇ ▇▇ ▇ppropriate, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley harmless as a result of any action taken or not taken by ▇▇▇ ▇▇k▇▇ ▇▇ ▇organ Stanley in connection therewith or pursuant to Custo▇▇▇▇▇'▇ i▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's instructions▇ions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will shall provide ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, to make or take delivery under any such Contracts, or ; to exercise options entered into by Customer, or, with respect to Contracts that are cleared credit default swaps, to exercise rights relating to credit events in respect of such Contracts in the relevant trade information systems of the relevant clearing house or clearing organization, in each case, within such time limits as may be reasonably specified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to any such Contract or deliverable grade commodities to make eligible under Applicable Law for the purpose of effecting delivery pursuant to such Contract must be delivered to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time and in accordance with such procedures as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may reasonably require in connection with any such delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has previously received prior, timely instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'’▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligationsobligations in this section 6(i), ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute discretion, may liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any optionsoptions or rights, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇, in its sole and absolute discretion, deems ▇▇▇▇ necessary or appropriate, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's ’s instructions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will shall provide ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, ; to make or take delivery under any such Contracts, ; or to exercise options entered into by Customer, within such time limits as may be reasonably specified by ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇. ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇M▇▇▇▇▇ S▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to any such Contract or deliverable grade commodities to make eligible under Applicable Law for the purpose of effecting delivery pursuant to such Contract must be delivered to ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ at such time and in accordance with such procedures as ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ may reasonably require in connection with any such delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ has previously received prior, timely instructions from Customer, ▇M▇▇▇▇▇ ▇▇▇▇▇▇▇'’▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligationsobligations in this section 6(i), M▇▇▇▇▇ S▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute discretion, may liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as M▇▇▇▇▇ S▇▇▇▇▇▇ ▇▇▇▇▇▇▇, in its sole and absolute discretion, deems ▇ necessary or appropriate, and Customer shall indemnify and hold ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ in connection therewith or pursuant to Customer's ’s instructions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will provide ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be reasonably specified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ or as required by Applicable Law. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to such Contract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may reasonably require in connection with any delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has previously received instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'’▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligationsobligations in this section 6(h), ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute commercially reasonable discretion, liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, in its sole and absolute commercially reasonable discretion, deems necessary or appropriate, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's ’s instructions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will shall provide ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, ; to make or take delivery under any such Contracts, ; or to exercise options entered into by Customer, within such time limits as may be reasonably specified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to any such Contract or deliverable grade commodities to make eligible under Applicable Law for the purpose of effecting delivery pursuant to such Contract must be delivered to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time and in accordance with such procedures as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may reasonably require in connection with any such delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has previously received prior, timely instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'’▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligationsobligations in this section 6(i), ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute discretion, may liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇, in its sole and absolute discretion, deems ▇▇▇▇ necessary or appropriate, and Customer shall indemnify and hold ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's ’s instructions.

Delivery Procedures; Options Allocation Procedure. (i) Customer will provide ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ with instructions either to liquidate Contracts previously established by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ receives oral or written instructions reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ indicating the action ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is to take. Funds sufficient to take delivery pursuant to such Contract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at such time as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may require in connection with any delivery. (ii) Short option Contracts may be subject to exercise at any time. Exercise notices received by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from the applicable contract market with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has previously received instructions from Customer, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇'▇ sole responsibility shall be to use its best efforts to notify Customer of such allocation. (iii) If Customer fails to comply with any of the foregoing obligations, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may, in its sole and absolute discretion, liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, in its sole and absolute discretion, deems necessary or appropriate, and Customer shall indemnify and hold hol& Title - Please Print) ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ harmless as a result of any action taken or not taken by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in connection therewith or pursuant to Customer's instructions.& Co. Incorporated (Signature) (Date)