Right to Loan/Pledge Client Assets. 26.7.1 To the extent allowed by the relevant Rules, uSMART SG may, from time to time and without notice to the Client, lend pledge, re-pledge, hypothecate, re-hypothecate or create security interest over any assets in Client’s Account, separately or together with those of other clients, without retaining in uSMART SG’s possession or control a like amount of assets. To the extent allowed by the relevant Rules, uSMART SG is authorised by Client to lend either to itself or to others as principal or agent any securities or other properties in the Client’s Account. Client acknowledges that for such loan of securities or other property: (i) uSMART SG may receive financial and other benefits to which Client is not entitled; and (ii) loans of securities or other property generally will prevent the Client from exercising voting rights or receiving dividends, in whole or in part, with respect to the securities or other property lent. In any event, Client agrees that no compensation or reimbursements will be due to the Client and uSMART SG is not required to compensate Client for any differential tax treatment (if applicable), and if Client is allocated if Client is allocated a substitute payment in lieu of interest, dividends, or other payments, Client understands that such a payment may not be entitled to the same tax treatment.
Right to Loan/Pledge Client Assets. To the extent allowed by the relevant Rules, GTJAS may, from time to time and without notice to the Client, lend pledge, re-pledge, hypothecate, re-hypothecate or create security interest over any assets in Client’s Account, separately or together with those of other clients, without retaining in GTJAS’s possession or control a like amount of assets. To the extent allowed by the relevant Rules, GTJAS is authorized by Client to lend either to itself or to others as principal or agent any securities or other properties in the Client’s Account. Client acknowledges that for such loan of securities or other property: (i) GTJAS may receive financial and other benefits to which Client is not entitled; (ii) loans of securities or other property generally will prevent the Client from exercising voting rights or receiving dividends, in whole or in part, with respect to the securities or other property lent; (iii) dividends paid on such securities or other property will go to the borrower and not to the Client and no compensation or reimbursements will be due to the Client; (iv) if the Client is allocated a substitute payment in lieu of dividends, such a payment may not be entitled to the same tax treatment as receipt of a dividend, and GTJAS is not required to compensate the Client for any differential tax treatment between dividends and payments in lieu of dividends.
Right to Loan/Pledge Client Assets. To the extent allowed by the relevant Rules, USPL may, from time to time and without notice to the Client, lend pledge, re-pledge, hypothecate, re-hypothecate or create security interest over any assets in Client’s Account, separately or together with those of other clients, without retaining in USPL’s possession or control a like amount of assets. To the extent allowed by the relevant Rules, USPL is authorised by Client to lend either to itself or to others as principal or agent any securities or other properties in the Client’s Account. Client acknowledges that for such loan of securities or other property: (i) USPL may receive financial and other benefits to which Client is not entitled; (ii) loans of securities or other property generally will prevent the Client from exercising voting rights or receiving dividends, in whole or in part, with respect to the securities or other property lent; (iii) dividends paid on such securities or other property will go to the borrower and not to the Client and no compensation or reimbursements will be due to the Client; (iv) if the Client is allocated a substitute payment in lieu of dividends, such a payment may not be entitled to the same tax treatment as receipt of a dividend, and USPL is not required to compensate the Client for any differential tax treatment between dividends and payments in lieu of dividends.
