Common use of Elimination or Reduction of Indebtedness Clause in Contracts

Elimination or Reduction of Indebtedness. If you fail to pay any indebtedness when due, or if on or before any settlement date you fail to comply with any other requirement contained in this Agreement, then, in addition to any other right or remedy to which the Firm is entitled, the Firm may at any time and from time to time, without notice or demand to you: (a) apply monies held to your credit in any other Account with the Firm to eliminate or reduce indebtedness; (b) sell, contract to sell or otherwise dispose of any or all of the securities held by the Firm for you and apply the net proceeds therefrom to eliminate or reduce indebtedness; or (c) cancel or modify any outstanding orders. Such rights may be exercised separately, successively or concurrently. The Firm will not be required to exercise any such rights, nor will it be required to exercise any right prior to exercising any other right. The failure to exercise any or all of such rights or the granting of any indulgence will not in any way limit, restrict or prevent the Firm from exercising such rights at any subsequent time and shall not limit, reduce or discharge any indebtedness or part thereof. Any sales or purchases for the Account may be made in such manner as the Firm deems advisable. If demand is made or notice given to you by the Firm, it shall not constitute a waiver of any of the Firm’s rights to act hereunder without demand or notice. Any and all expenses (including any legal fees) incurred by the Firm in connection with exercising any right pursuant to this section may be charged to your Account. You shall remain liable to the Firm for any deficiency remaining following the exercise by the Firm of any or all of its rights and agree that the rights which the Firm is entitled to exercise pursuant to this section are reasonable and necessary for the Firm’s protection.

Elimination or Reduction of Indebtedness. If you fail If: (a) the client fails to pay any indebtedness when due, or if ; (b) the Brokers deems the margin held by it to be insufficient for its protection; (c) on or before any settlement date you fail the Client fails to comply with any other requirement contained in this the Agreement, ; then, in addition to any other right or remedy to which the Firm is Brokers are entitled, the Firm Brokers may at any time and from to time to time, without notice or demand to youthe Client: (aA) apply monies held to your the credit of the Client in any other Account account with the Firm Brokers to eliminate or reduce indebtedness; (bB) sell, contract to sell or otherwise dispose of any or all of the securities held by the Firm Brokers for you the Client and apply the net proceeds therefrom to eliminate or reduce indebtedness; (C) purchase or borrow any securities necessary to cover short sales or any other sale made on the Client’s behalf in respect of which delivery of certificates in an acceptable delivery form has not been made; or (cD) cancel or modify any outstanding orders. Such rights may be exercised separately, successively or concurrently. The Firm will Brokers shall not be required by this Agreement to exercise any such rights, rights nor will it shall they be required to exercise any right prior to exercising any other right. The failure to exercise any or all of such rights or the granting of any indulgence will shall not in any way limit, restrict or prevent the Firm Brokers from exercising such rights at any subsequent time and shall not limit, reduce or discharge any indebtedness or part thereof. Any such sales or purchases for the Account may be made upon any exchange or market or at a public or private sale upon such terms and in such manner as the Firm deems Brokers deem advisable. If demand is made or notice given to you the client by the FirmBrokers, it shall not constitute a waiver of any of the Firm’s Brokers’ rights to act hereunder without demand or notice. Any and all expenses (including any legal feesexpenses) reasonably incurred by the Firm Brokers in connection with exercising any right pursuant to this section may be charged to your the Account. You The Client shall remain liable to the Firm Brokers for any deficiency remaining following the exercise by the Firm Worldsource of any or all of its the foregoing rights and agree agrees that the rights which the Firm is Brokers are entitled to exercise pursuant to this section are reasonable and necessary for their protection having regard to the Firmnature of securities markets, including in particular, their volatility. MARGIN Where the Client requests that a margin account be opened, the Client acknowledges that the responsibility for granting margin privileges and the determination of the suitability of the use of margin rests with the Introducing Broker (Worldsource Securities Inc.). The Carrying Broker (Fidelity Clearing Canada ULC) will provide margin to the Client upon request by the Introducing Broker subject to the terms and conditions outlined below. The Client acknowledges that any calls for additional margin will be made by the Carrying Broker to the Introducing Broker, who shall therein be responsible for notifying the Client of the details of the call for margin, and for ensuring that the call for margin is satisfied by the Client. The Client also acknowledges that the Carrying Broker will not transmit calls for margin directly to the Client. With a margin facility, the Client can borrow money from the Brokers to purchase securities. The portion of the purchase price that the Client must deposit is called margin and is the Client’s protectioninitial equity or value in the Account. The loan from the Brokers is secured by the securities you purchase. If the securities the Client is using as collateral go down in price, a margin call may be issued, which is a demand that the Client repay all or part of the loan with cash, a deposit of securities from outside the Account, or by selling some of the securities in the Account. If the Client applies for a margin facility, the Brokers may in their sole discretion, grant the facility upon condition that the Brokers may, without notice at any time and from time to time; (a) reduce or cancel any margin facility made available to the Client or refuse to grant any additional margin facility to the Client; or (b) require the Client to provide margin in addition to the margin required by Applicable Rules and Regulations. The Client will provide the Brokers with any margin which is requested by the Brokers and will promptly pay any indebtedness due as a result of any reduction or cancellation of any margin facility. It is the Brokers policy to operate its margin business on a trade date basis. Margin accounts can be very risky and they are not suitable for everyone. Before opening a margin account, the Client should fully understand that:  The Brokers can force the sale of securities in the Account to meet any margin call;  An Advisor may attempt to contact the Client regarding a margin call, however, the Brokers may proceed to sell securities in the Account to cover the margin call without contacting the Client;  The Client is not entitled to choose which securities or other assets in the Account are sold;  Margin requirements may increase at any time. Advanced notice is not required;  The Client is not entitled to an extension of time on a margin call; and,  A Client can lose more money than deposited in a margin account. LEVERAGE DISCLOSURE: BORROWING MONEY TO PURCHASE SECURITIES PLEASE READ THIS CAREFULLY IF YOU BORROW MONEY TO PURCHASE SECURITIES Regulatory authorities require the delivery of the disclosure information set out below to all investors who open an account and in particular, to investors considering borrowing money from any source to purchase securities. The purpose of this disclosure is to make investors aware of the HIGH risk involved in borrowing to invest. Using borrowed money to finance the purchase of securities involves greater risk than a purchase using cash resources only. If you borrow money to purchase securities your responsibility to repay the loan, and pay interest as required by its terms, remains the same even if the value of the securities purchased declines. In simple terms, you are still responsible to pay back your loan, even if your security has no, or less than anticipated, value. Here are some risks and factors that you should consider before borrowing to invest: Is it Right for You? Borrowing money to invest is risky. You should only consider borrowing to invest if:  You are comfortable with taking risk.  You are comfortable taking on debt to buy investments that may go up or down in value.  You are investing for the long-term.  You have a stable income. You should not borrow to invest if:  You have a low tolerance for risk.  You are investing for a short period of time.  You intend to rely on income from the investments to pay living expenses.  You intend to rely on income from the investments to repay the loan. If this income stops or decreases you may not be able to pay back the loan. You Can End Up Losing Money  If the investments go down in value and you have borrowed money to invest, your losses would be larger than had you invested using your own money.  Whether your investments make money or not you will still have to pay back the loan, plus interest. You may have to sell other assets or use money you had set aside for other purposes to pay back the loan.  If you used your home as security for the loan, you may lose your home.  If the investments go up in value, you may still not make enough money to cover the costs of borrowing. Tax Considerations  You should not borrow to invest just to receive a tax deduction.  Interest costs are not always tax deductible. You may not be entitled to a tax deduction and may be reassessed for past deductions. You may want to consult a tax professional to determine whether your interest costs will be deductible before borrowing to invest.

Elimination or Reduction of Indebtedness. ‌ If you fail the Client fails to pay any indebtedness when due, or if on or before any settlement date you fail the Client fails to comply with any other requirement contained in this Agreement, then, in addition to any other right or remedy to which the Firm ShareOwner is entitled, the Firm ShareOwner may at any time and from time to time, without notice or demand to youthe Client: (a) apply monies held to your the Client’s credit in any other Account account with the Firm ShareOwner to eliminate or reduce indebtedness; (b) sell, contract to sell or otherwise dispose of any or all of the securities held by ShareOwner for the Firm for you Client and apply the net proceeds therefrom to eliminate or reduce indebtedness; or (c) cancel or modify any outstanding orders. Such rights may be exercised separately, successively or concurrently. The Firm ShareOwner will not be required to exercise any such rights, rights nor will it be required to exercise any right prior to exercising any other right. The failure to exercise any or all of such rights or the granting of any indulgence will not in any way limit, restrict or prevent the Firm ShareOwner from exercising such rights at any subsequent time and shall not limit, reduce or discharge any indebtedness or part thereof. Any sales or purchases for the Account may be made upon any exchange or market or at a public or private sale upon such terms and in such manner as the Firm ShareOwner deems advisable. If demand is made or notice given to you the Client by the FirmShareOwner, it shall not constitute a waiver of any of the FirmShareOwner’s rights to act hereunder without demand or notice. Any and all expenses (including any legal fees) incurred by the Firm ShareOwner in connection with exercising any right pursuant to this section may be charged to your the Client’s Account. You The Client shall remain liable to the Firm ShareOwner for any deficiency remaining following the exercise by the Firm ShareOwner of any or all of its rights and agree that the rights which the Firm ShareOwner is entitled to exercise pursuant to this section are reasonable and necessary for ShareOwner’s protection having regard to the Firm’s protectionnature of securities markets, including in particular, their volatility.

Elimination or Reduction of Indebtedness. If you fail to pay any indebtedness when due, or if on or before any settlement date you fail to comply with any other requirement contained in this Agreement, then, in addition to any other right or remedy to which the Firm is entitled, the Firm may at any time and from time to time, without notice or demand to you: (a) apply monies held to your credit in any other Account with the Firm to eliminate or reduce indebtedness; (b) sell, contract to sell or otherwise dispose of any or all of the securities held by the Firm for you and apply the net proceeds therefrom to eliminate or reduce indebtedness; or (c) cancel or modify any outstanding orders. Such rights may be exercised separately, successively or concurrently. The Firm will not be required to exercise any such rights, nor will it be required to exercise any right prior to exercising any other right. The failure to exercise any or all of such rights or the granting of any indulgence will not in any way limit, restrict or prevent the Firm from exercising such rights at any subsequent time and shall not limit, reduce or discharge any indebtedness or part thereof. Any sales or purchases for the Account may be made in such manner as the Firm deems advisable. If demand is made or notice given to you by the Firm, it shall not constitute a waiver of any of the Firm’s 's rights to act hereunder without demand or notice. Any and all expenses (including any legal fees) incurred by the Firm in connection with exercising any right pursuant to this section may be charged to your Account. You shall remain liable to the Firm for any deficiency remaining following the exercise by the Firm of any or all of its rights and agree that the rights which the Firm is entitled to exercise pursuant to this section are reasonable and necessary for the Firm’s 's protection.

Elimination or Reduction of Indebtedness. If you fail to pay any indebtedness when due, or if on or before any settlement date you fail to comply with any other requirement contained in this Agreement, then, in addition to any other right or remedy to which the Firm is entitled, the Firm may at any time and from time to time, without notice or demand to you: (a) apply monies held to your credit in any other Account account with the Firm to eliminate or reduce indebtedness; (b) sell, contract to sell or otherwise dispose of any or all of the securities held by the Firm for you and apply the net proceeds therefrom to eliminate or reduce indebtedness; or (c) cancel or modify any outstanding orders. Such rights may be exercised separately, successively or concurrently. The Firm will not be required to exercise any such rights, nor will it be required to exercise any right prior to exercising any other right. The failure to exercise any or all of such rights or the granting of any indulgence will not in any way limit, restrict or prevent the Firm from exercising such rights at any subsequent time and shall not limit, reduce or discharge any indebtedness or part thereof. Any sales or purchases for the Account may be made in such manner as the Firm deems advisable. If demand is made or notice given to you by the Firm, it shall not constitute a waiver of any of the Firm’s rights to act hereunder without demand or notice. Any and all expenses (including any legal fees) incurred by the Firm in connection with exercising any right pursuant to this section may be charged to your Account. You shall remain liable to the Firm for any deficiency remaining following the exercise by the Firm of any or all of its rights and agree that the rights which the Firm is entitled to exercise pursuant to this section are reasonable and necessary for the Firm’s protection.