Common use of Margin Calls Clause in Contracts

Margin Calls. (i) If, at any time, the Value of the Collateral subject to all Loans is less than the total Margin Call Threshold Amount aggregated for all Loans, Lender shall have the right, subject to the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) If Lender requires Borrower to contribute Additional Collateral, it shall send notification (the “Margin Notification”) to Borrower’s Email or via another messaging service used by the Parties that sets forth the amount and type of Additional Collateral required. Borrower shall deliver the Additional Collateral to Lender in accordance with subsection (f) below within twelve (12) hours immediately following the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two (2) hours after receipt of Borrower’s calculations, the original Margin Notification shall remain in effect.

Margin Calls. (ia) If, If at any time, time the Value aggregate Repurchase Price of the Collateral all Purchased Assets subject to all Transactions is greater than the aggregate Asset Value of all Purchased Assets subject to all such Transactions (a “Margin Deficit”), then any Buyer may by notice to the Sellers require the Sellers to transfer to such Buyer or its designee (including the Custodian) Eligible Mortgage Loans is (“Additional Eligible Mortgage Loans”) or cash, at such Buyer’s discretion, so that the aggregate Repurchase Price of the Purchased Assets, including any such Additional Eligible Mortgage Loans, will thereupon be less than the total Margin Call Threshold Amount aggregated for all Loanssum of such cash and the aggregate Asset Value, Lender shall have the right, subject to the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies (as acceptable to Lender in its discretion, the “including any such Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Eligible Mortgage Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loanssuch requirement, a “Margin Call”). (iib) If Lender requires Borrower Notice required pursuant to contribute Additional Collateral, it Section 9(a) above may be given in writing by any means and the related Margin Call shall send notification (the “Margin Notification”) to Borrower’s Email or via another messaging service used be satisfied by the Parties Sellers prior to 4:00 p.m., New York City time, on the Business Day following such notice. The failure of a Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of such Buyer to do so at a later date. Sellers and Buyers each agree that sets forth the amount and type of Additional Collateral required. Borrower a failure or delay by a Buyer to exercise its rights hereunder shall deliver the Additional Collateral to Lender not limit or waive such Buyer’s rights under this Agreement or otherwise existing by law or in accordance with subsection (f) below within twelve (12) hours immediately following the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two (2) hours after receipt of Borrower’s calculations, the original Margin Notification shall remain in effectany way create additional rights for Sellers.

Margin Calls. (i) If, at any time, If during the Value term of a Loan the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral subject to all Loans is becomes valued at a rate less than the total Margin Call Threshold Amount aggregated Rate for all LoansCollateral indicated on the Loan Term Sheet as measured by the spot rate published on Coinbase Pro, Lender or if such Borrowed Asset is not listed on Coinbase Pro, then the spot rate published on Kraken (such rate, the “Margin Call Spot Rate”), then Borrower, upon receipt of a Margin Call Notice (as defined below) and in accordance with this clause (b), shall have the right, subject to the Minimum Transfer Amountbe required, to require Borrower to pledge and deliver USD or transfer additional Digital Currencies Collateral (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value total amount of Collateral is valued at a level equal to or greater than the Initial Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) Level. If Lender requires Borrower to contribute transfer Additional Collateral, it shall send notification a notice (the “Margin NotificationCall Notice”) to Borrower’s Email or via another messaging service used by the Parties Borrower that sets forth forth: (i) the Margin Call Spot Rate and (ii) the amount and type of Additional Collateral requiredrequired based on the Margin Call Spot Rate. Such notice may be sent primarily via email, with Telegram to be used as a fallback communication method. Borrower shall deliver the have [***] to respond and send Additional Collateral to Lender in accordance with subsection Lender. Borrower shall not be required to send Additional Collateral pursuant to a Margin Call Notice where (fi) the spot rate for Digital Currency Collateral as indicated on Coinbase Pro or Kraken, as applicable, has increased sufficiently such that it is no longer at or below within twelve (12) hours immediately following the time on which the Margin Notification is receivedCall Spot Rate, or as otherwise agreed by the parties; provided, however, that Borrower shall have four and (4ii) hours after the receipt of such spot rate remains above the Margin Notification Call Spot Rate for [***]. Failure to provide its own calculations Additional Collateral, if required, shall give Lender the right, but not the obligation, to declare an Event of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two (2) hours after receipt of Borrower’s calculations, the original Margin Notification shall remain in effectDefault.

Margin Calls. (i) If, at any time, If during the Value term of a Loan the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral subject to all Loans is becomes valued at a rate less than the total Margin Call Threshold Amount aggregated Rate for all LoansCollateral indicated on the Loan Term Sheet as measured by the spot rate published on Coinbase Pro, Lender or if such Borrowed Asset is not listed on Coinbase Pro, then the spot rate published on Kraken (such rate, the “Margin Call Spot Rate”), then Borrower shall have be required to contribute additional Collateral so that the right, subject total amount of Collateral is valued at a level equal to or greater than the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies Initial Collateral Level (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) ). If Lender requires Borrower to contribute Additional Collateral, it shall send notification a notice (the “Margin NotificationCall Notice”) to Borrower’s Email or via another messaging service used by the Parties Borrower that sets forth forth: (i) the Margin Call Spot Rate and (ii) the amount and type of Additional Collateral requiredrequired based on the Margin Call Spot Rate. Such notice may be sent electronically in writing, via email, telephone, or any other means of electronic communication agreed upon by the parties. Borrower shall deliver have eighteen [***] from the time Lender sends the Margin Call Notice to respond and send Additional Collateral to Lender. Failure to provide Additional Collateral, if required, shall give Lender in accordance with subsection (f) below within twelve (12) hours immediately following the right, but not the obligation, to declare an Event of Default. Notwithstanding the above procedures, if at any time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt value of the Margin Notification Borrowed Asset changes relative to provide its own calculations of the Value of Collateral, such that the Collateral (becomes valued at a rate less than the time of Urgent Margin Call Rate indicated on the Loan Term Sheet, even where a Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations Call Notice has already been sent pursuant to the prior provisoprocedures above, then Lender shall have the relevant Margin Notification shall be deemed withdrawnright to require Borrower to contribute Additional Collateral, or modified in accordance with Borrower’s calculations and (y) if elect to pay back the outstanding principal amount remaining on the Loan, within [***] from the time that Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations initially sent the Margin Call Notice pursuant to the prior proviso or does procedures above. Failure to provide Additional Collateral pursuant to an Urgent Margin Call shall give Lender the right, but not respond within two (2) hours after receipt the obligation, to declare an Event of Borrower’s calculationsDefault. If an Urgent Margin Call Rate is not specified on the Loan Term Sheet, then the original Margin Notification foregoing paragraph shall remain in effectnot apply.

Margin Calls. (i) If, at any time, If during the Value term of a Loan the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral subject to all Loans is becomes valued at a rate less than the total Margin Call Threshold Amount aggregated Rate for all LoansCollateral indicated on the Loan Term Sheet as measured by the spot rate published on Coinbase Pro, Lender or if such Borrowed Asset is not listed on Coinbase Pro, then the spot rate published on Kraken (such rate, the “Margin Call Spot Rate”), then Borrower shall have be required to contribute additional Collateral so that the right, subject total amount of Collateral is valued at a level equal to or greater than the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies Initial Collateral Level (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) ). If Lender requires Borrower to contribute Additional Collateral, it shall send notification a notice (the “Margin NotificationCall Notice”) to Borrower’s Email or via another messaging service used by the Parties Borrower that sets forth forth: (i) the Margin Call Spot Rate and (ii) the amount and type of Additional Collateral requiredrequired based on the Margin Call Spot Rate. Such notice may be sent electronically, via email, telephone, Telegram, WhatsApp, or any other means of electronic communication agreed upon by the parties. Borrower shall deliver have twenty-four (24) hours from the time ▇▇▇▇▇▇ sends the Margin Call Notice to respond and send Additional Collateral to Lender, regardless of whether such period ends on a Business Day. Failure to provide Additional Collateral, if required, shall give Lender in accordance with subsection (f) below the right, but not the obligation, to declare an Event of Default. Notwithstanding the above procedures, if at any time the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral becomes valued at a rate less than the Urgent Margin Call Rate indicated on the Loan Term Sheet, even where a Margin Call Notice has already been sent pursuant to the procedures above, then Lender shall have the right to require Borrower to contribute Additional Collateral, or elect to pay back the outstanding principal amount remaining on the Loan, within twelve (12) hours immediately following from the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations initially sent the Margin Call Notice pursuant to the prior provisoprocedures above, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations regardless of whether such period ends on a Business Day. Failure to provide Additional Collateral pursuant to an Urgent Margin Call shall give Lender the prior proviso or does right, but not respond within two (2) hours after receipt the obligation, to declare an Event of Borrower’s calculationsDefault. If an Urgent Margin Call Rate is not specified on the Loan Term Sheet, then the original Margin Notification foregoing paragraph shall remain in effectnot apply.

Margin Calls. (ia) If, at any time, No leverage transaction merchant shall liquidate a leverage contract be- cause of a margin deficiency without effecting personal contact with the Value of the Collateral subject to all Loans is less than the total Margin Call Threshold Amount aggregated for all Loans, Lender shall have the right, subject to the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) If Lender requires Borrower to contribute Additional Collateral, it shall send notification (the “Margin Notification”) to Borrower’s Email or via another messaging service used by the Parties that sets forth the amount and type of Additional Collateral required. Borrower shall deliver the Additional Collateral to Lender in accordance with subsection (f) below within twelve (12) hours immediately following the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇- ▇▇▇▇▇▇ agrees customer. If a leverage trans- action merchant is unable to effect personal contact with a leverage cus- tomer, a telegram sent to the leverage customer at the address furnished by the customer to the leverage trans- action merchant shall be sufficient contact. (b) A leverage transaction merchant shall allow a leverage customer a rea- sonable time after contact is effected in which to respond to a margin call. Twenty-four hours, excluding Satur- days, Sundays, and holidays, will be a reasonable time: Provided, ho ever, That in the event the leverage cus- tomer’s leverage account equity falls below 50 percent of aggregate min- imum margin with respect to the lever- age contracts therein, the leverage transaction merchant may liquidate sufficient contracts to restore min- imum margin without prior notice: Provided, further, That the leverage customer must be notified of such liq- uidation within no more than 24 hours thereafter and must be permitted to re- establish his contract for a period of 5 business days at the then prevailing bid price in the case of a long leverage contract and at the then prevailing ask price in the case of a short leverage contract, without commissions, fees or other ▇▇▇▇-ups or charges. If a termi- nation charge was assessed by the ▇▇- ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified ▇ transaction merchant upon liq- uidation of a contract in accordance with Borrower’s calculations the first proviso of this para- graph, such a charge must be rescinded upon re-establishment of the contract in accordance with the second proviso of this paragraph. (c) A record of all margin calls, in- cluding all contacts with leverage cus- tomers and attempts to contact lever- age customers with respect to such calls, shall be kept by the leverage transaction merchant in accordance with the provisions of § 31.14. (yd) if Lender disagrees Leverage contracts liquidated by a leverage transaction merchant be- cause of a margin deficiency must be liquidated in writing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two (2) hours after receipt declining order of Borrower’s calculations, the original Margin Notification shall remain in effect.loss,

Margin Calls. (i) If, at any time, If during the Value term of a Loan the value of the Borrowed Asset increases relative to the Collateral, such that the Collateral subject to all Loans is becomes valued at a rate less than the total Margin Call Threshold Amount aggregated Rate for all LoansCollateral indicated on the Loan Term Sheet as measured by the spot rate published on Coinbase Pro, or if such Borrowed Asset is not listed on Coinbase Pro, then the spot rate published on Kraken (such rate, the “Margin Call Spot Rate”), then Lender shall have the right, subject to the Minimum Transfer Amount, right to require Borrower to pledge and deliver USD or contribute additional Digital Currencies Collateral (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value total amount of Collateral is valued at a level equal to or greater than the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) Margin Call Rate. If Lender requires Borrower to contribute Additional Collateral, it shall send an email notification (the “Margin First Notification”) to Borrower’s Email or via another messaging service used by the Parties Borrower at the email address indicated in Section XV that sets forth forth: (i) the Margin Call Spot Rate and (ii) the amount and type of Additional Collateral requiredrequired based on the Margin Call Spot Rate. Borrower shall deliver have twenty-four (24) hours from the Additional Collateral time Lender sends such First Notification to (x) respond and send payment to Lender in accordance with subsection (fd) below below, or (y) respond that the spot rate as indicated on Coinbase Pro or Kraken, as applicable, has decreased sufficiently such that it is no longer at or above the Margin Call Spot Rate. If Lender agrees by email that Borrower’s response according to (y) above is correct then no other action is required by Borrower. If Lender fails to agree by email with Borrower’s response in accordance with (y) by 5:00 P.M. New York time the day of the First Notification, then the Lender has rejected the Borrower’s response and the Lender’s original demand for Borrower to Contribute Additional Collateral is reinstated. Notwithstanding the above procedures, if at any time the value of the Borrowed Asset increases relative to the Collateral, such that the Collateral becomes valued at a rate less than the Urgent Margin Call Rate indicated on the Loan Term Sheet, even where a Margin Call Notification has already been sent pursuant to the procedures in (x) and (y) above, then Lender shall have the right to require Borrower to contribute Additional Collateral within twelve (12) hours immediately following from the time on which that Lender initially sent the Margin First Notification is received, or as otherwise agreed by pursuant to the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If procedures identified in (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if above. If an Urgent Margin Call Rate is not specified on the Loan Term Sheet, then the foregoing paragraph shall not apply. Failure to provide Additional Collateral in the full amount provided in the First Notification shall give Lender disagrees in writing with ▇▇▇▇▇▇▇▇the option to declare an Event of Default. If Borrower fails to respond to the First Notification within twenty-four (24) or twelve (12) hours, as applicable, or Lender rejects Borrower’s calculations response pursuant to (y) above, whether affirmatively by email or by non-reply as set forth above, Lender may (but is not obligated to) send a second email notification (the prior proviso or does not respond within two “Second Notification”) repeating the information in provisions (2i) hours after receipt of Borrower’s calculations, and (ii) in the original Margin Notification shall remain in effectparagraph above.

Margin Calls. (i) If, at any time, the Value of the Collateral subject to all Loans is less than the total Margin Call Threshold Amount aggregated for all Loans, Lender shall have the right, subject to the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) If Lender requires Borrower to contribute Additional Collateral, it shall send notification (the “Margin Notification”) to Borrower’s Email or via another messaging service used by the Parties that sets forth the amount and type of Additional Collateral required. Borrower shall deliver the Additional Collateral to Lender in accordance with subsection (f) below within twelve twenty four (1224) hours immediately following the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four six (46) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified in accordance with Borrower’s calculations and (y) if Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two (2) hours after receipt of Borrower’s calculations, the original Margin Notification shall remain in effect.

Margin Calls. (ia) If, at any time, No leverage transaction merchant shall liquidate a leverage contract be- cause of a margin deficiency without effecting personal contact with the Value of the Collateral subject to all Loans is less than the total Margin Call Threshold Amount aggregated for all Loans, Lender shall have the right, subject to the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) If Lender requires Borrower to contribute Additional Collateral, it shall send notification (the “Margin Notification”) to Borrower’s Email or via another messaging service used by the Parties that sets forth the amount and type of Additional Collateral required. Borrower shall deliver the Additional Collateral to Lender in accordance with subsection (f) below within twelve (12) hours immediately following the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇▇- ▇▇▇▇▇▇ agrees customer. If a leverage trans- action merchant is unable to effect personal contact with a leverage cus- tomer, a telegram sent to the leverage customer at the address furnished by the customer to the leverage trans- action merchant shall be sufficient contact. (b) A leverage transaction merchant shall allow a leverage customer a rea- sonable time after contact is effected in which to respond to a margin call. Twenty-four hours, excluding Satur- days, Sundays, and holidays, will be a reasonable time: Provided, ho ever, That in the event the leverage cus- tomer’s leverage account equity falls below 50 percent of aggregate min- imum margin with respect to the lever- age contracts therein, the leverage transaction merchant may liquidate sufficient contracts to restore min- imum margin without prior notice: Provided, further, That the leverage customer must be notified of such liq- uidation within no more than 24 hours thereafter and must be permitted to re- establish his contract for a period of 5 business days at the then prevailing bid price in the case of a long leverage contract and at the then prevailing ask price in the case of a short leverage contract, without commissions, fees or other ▇▇▇▇-ups or charges. If a termi- nation charge was assessed by the ▇▇- ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso, the relevant Margin Notification shall be deemed withdrawn, or modified ▇ transaction merchant upon liq- uidation of a contract in accordance with Borrower’s calculations the first proviso of this para- graph, such a charge must be rescinded upon re-establishment of the contract in accordance with the second proviso of this paragraph. (c) A record of all margin calls, in- cluding all contacts with leverage cus- tomers and attempts to contact lever- age customers with respect to such calls, shall be kept by the leverage transaction merchant in accordance with the provisions of § 31.14. (yd) if Lender disagrees Leverage contracts liquidated by a leverage transaction merchant be- cause of a margin deficiency must be liquidated in writing declining order of loss, commencing with ▇▇▇▇▇▇▇▇’s calculations pursuant to the prior proviso or does not respond within two leverage con- tract with the greatest loss. (Secs. 8a(5) and 19 of the Commodity Ex- change Act, as amended, 7 U.S.C. 12a(5) and 23 (1982)) [49 FR 5540, Feb. 13, 1984, as amended at 50 FR 34, Jan. 2) hours after receipt of Borrower’s calculations, the original Margin Notification shall remain in effect.1985; 50 FR 36416, Sept. 6, 1985]

Margin Calls. (i) If, at any time, If during the Value term of a Loan the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral subject to all Loans is becomes valued at a rate less than the total Margin Call Threshold Amount aggregated Rate for all LoansCollateral indicated on the Loan Term Sheet as measured by the spot rate published on Coinbase Pro, Lender or if such Borrowed Asset is not listed on Coinbase Pro, then the spot rate published on Kraken (such rate, the “Margin Call Spot Rate”), then Borrower shall have be required to contribute additional Collateral so that the right, subject total amount of Collateral is valued at a level equal to or greater than the Minimum Transfer Amount, to require Borrower to pledge and deliver USD or additional Digital Currencies Initial Collateral Level (as acceptable to Lender in its discretion, the “Additional Collateral”) (or if Borrower requests and Lender agrees, to repay or redeliver Loaned Assets) so that the Value of the Collateral subject to all Loans (including the Additional Collateral) will thereupon equal or exceed the total Required Collateral Amount aggregated for all Loans. (ii) ). If Lender requires Borrower to contribute Additional Collateral, it shall send notification a notice (the “Margin NotificationCall Notice”) to Borrower’s Email or via another messaging service used by the Parties Borrower that sets forth forth: (i) the Margin Call Spot Rate and (ii) the amount and type of Additional Collateral requiredrequired based on the Margin Call Spot Rate. Such notice may be sent electronically, via email, telephone, Telegram, WhatsApp, or any other means of electronic communication agreed upon by the parties. Borrower shall deliver the Additional Collateral to Lender in accordance with subsection have eighteen (f) below within twelve (1218) hours immediately following from the time on which the Margin Notification is received, or as otherwise agreed by the parties; provided, however, that Borrower shall have four (4) hours after the receipt of the Margin Notification to provide its own calculations of the Value of the Collateral (at the time of the Margin Notification) subject to all Loans to Lender to support a determination that less (or no) Additional Collateral is required to be delivered. If (x) ▇L▇▇▇▇▇ agrees with ▇▇▇▇▇▇▇▇’s calculations sends the Margin Call Notice to respond and send Additional Collateral to Lender. Failure to provide Additional Collateral, if required, shall give Lender the right, but not the obligation, to declare an Event of Default. Notwithstanding the above procedures, if at any time the value of the Borrowed Asset changes relative to the Collateral, such that the Collateral becomes valued at a rate less than the Urgent Margin Call Rate indicated on the Loan Term Sheet, even where a Margin Call Notice has already been sent pursuant to the prior provisoprocedures above, then Lender shall have the relevant Margin Notification shall be deemed withdrawnright to require Borrower to contribute Additional Collateral, or modified in accordance with Borrower’s calculations and elect to pay back the outstanding principal amount remaining on the Loan, within six (y6) if hours from the time that Lender disagrees in writing with ▇▇▇▇▇▇▇▇’s calculations initially sent the Margin Call Notice pursuant to the prior proviso or does procedures above. Failure to provide Additional Collateral pursuant to an Urgent Margin Call shall give Lender the right, but not respond within two (2) hours after receipt the obligation, to declare an Event of Borrower’s calculationsDefault. If an Urgent Margin Call Rate is not specified on the Loan Term Sheet, then the original Margin Notification foregoing paragraph shall remain in effectnot apply.