Common use of Right of Use Clause in Contracts

Right of Use. To the extent permitted by law, you expressly grant to IBIE a right of use of your financial instruments which are pledged with IBIE in accordance with the above. This right of use may only be exercised by IBIE in circumstances in which you enter into either: (i) margin trading; and/or; (ii) a stock loan transaction, with IBIE. The right of use shall comprise the right for IBIE to dispose of the relevant pledged financial instruments as if it were the owner of such financial instruments. However, the right of use does not temporarily or permanently deprive you of your ability to use or deal in those financial instruments. In addition, IBIE will only use the pledged financial instruments in order to secure its own commitments. When IBIE exercises the right of use, the pledged financial instruments that are the subject of the margin trading or stock loan will be moved from your client account with IBIE to the IBIE account where clients’ pledged assets are held. IBIE will in return deposit cash collateral (and/or securities in the case of a stock loan) into your client account in an amount that is equivalent to the market value of the relevant pledged financial instruments. The value of the cash collateral (and/or securities in the case of a stock loan) will be adjusted daily in order to take into account market fluctuations in the value of the relevant pledged financial instruments. The collateral transferred to your client account by IBIE will be protected in accordance with applicable client asset requirements. IBIE undertakes to return such pledged financial instruments to you in the same or an equivalent form, but will not return to you financial instruments of a different type. You confirm that you understand and acknowledge the risk incurred by the granting of the pledge of financial instruments and the right of use, as set forth in Appendix 3 under the “Information Statement in accordance with Article 15 of the Securities Financing Transactions Regulation”. Furthermore, you confirm that you understand and acknowledge that the pledged financial instruments are deemed to be under an exclusive pledge with IBIE and may not be concurrently pledged for other purposes.

Right of Use. To the extent permitted by law, you expressly grant to IBIE a right of use of your financial instruments which are pledged with IBIE in accordance with the above. This right of use may only be exercised by IBIE in circumstances in which you enter into either: (i) margin trading; and/or; (ii) a stock loan transaction, with IBIE. The right of use shall comprise the right for IBIE to dispose of the relevant pledged financial instruments as if it were the owner of such financial instruments. However, the right of use does not temporarily or permanently deprive you of your ability to use or deal in those financial instruments. In addition, IBIE will only use the pledged financial instruments in order to secure its own commitments. When IBIE exercises the right of use, the pledged financial instruments that are the subject of the margin trading or stock loan will be moved from your client account with IBIE to the IBIE account where clients’ pledged assets are held. IBIE will in return deposit cash collateral (and/or securities in the case of a stock loan) into your client account in an amount that is equivalent to the market value of the relevant pledged financial instruments. The value of the cash collateral (and/or securities in the case of a stock loan) will be adjusted daily in order to take into account market fluctuations in the value of the relevant pledged financial instruments. The collateral transferred to your client account by IBIE will be protected in accordance with applicable client asset requirements. IBIE IBIE‌ undertakes to return such pledged financial instruments to you in the same or an equivalent form, but will not return to you financial instruments of a different type. You confirm that you understand and acknowledge the risk incurred by the granting of the pledge of financial instruments and the right of use, as set forth in Appendix 3 under the “Information Statement in accordance with Article 15 of the Securities Financing Transactions Regulation”. Furthermore, you confirm that you understand and acknowledge that the pledged financial instruments are deemed to be under an exclusive pledge with IBIE and may not be concurrently pledged for other purposes.