Common use of Hold Mail Service Clause in Contracts

Hold Mail Service. 1. The Company may, upon the Customer’s request, provide hold mail service in respect of any correspondence to the Customer, including but not limited to, confirmation slips, contract notes, statements, reports, receipts, notices, letters, communications, prospectuses and other documents relating to the Portfolio, the Securities or the Account (or any copy of any such document) (the “Correspondence”) to the Customer. 2. The Customer shall provide the Company with written instructions regarding the collection of the Correspondence including instructions as to (i) the name and signature of the person(s) authorized to collect the Correspondence; (ii) the method of verifying the identity of the person(s) authorized to collect the Correspondence (which must be a method of verification acceptable to the Company); and (iii) any other matter which the Company may require in any specific case or generally. Other than as may be specified in such written instructions from the Customer, the Company shall not be obliged to inquire into the authority or to verify the identity of any person collecting the Correspondence on the Customer’s behalf. The Customer shall be deemed to have collected the Correspondence at the same time when his authorized person(s) collects the same from the Company on his behalf. 3. If the Correspondence has not been collected by the Customer or the person(s) authorized by the Customer to collect the Correspondence in any twelve (12) month period pursuant to Part I, ▇▇▇▇▇▇▇ ▇, ▇▇. ▇ above or if the Customer has not given written instructions to the Company relating to the Correspondence, the Company may at its discretion and at the risk and expense of the Customer send the Correspondence to the Customer at the address set out in the Account Opening Form or the address last notified in writing by the Customer to the Company (the “Correspondence Address”) without further notice to the Customer. 4. The Customer acknowledges that in instructing the Company to hold the Correspondence on his behalf, the Customer may, by passing of time or otherwise, forego certain rights and opportunities and may incur certain liabilities and additional expenses, penalties or losses with regard to the matters referred to in the Correspondence. 5. The Customer also acknowledges and agrees that the Company shall not be under any liability whatsoever arising from or in connection with the hold mail service except only to the extent where such liability arises solely from the willful fault or gross negligence of the Company, its directors, officers, employees and shall indemnify the Company, its directors, officers, employees against any and all liabilities incurred by any of them and all actions or proceedings which may be brought by or against any or all of them in connection with the provision of or the exercise of the Company’s powers and rights under this Part I, Section 9 relating to hold mail service except only to the extent where the liabilities were due solely to their willful fault or gross negligence.