Common use of Liquidation of Collateral Clause in Contracts

Liquidation of Collateral. When you borrow on margin, some or all of the securities in your Account become Stifel’s collateral for the loan to you. A decline in the value of these securities is a decline in the value of the collateral. If the collateral in your Account falls below either industry minimums or Stifel’s require- ments, Stifel can sell securities or other assets in your Account to cover the deficiency without notice to you. Stifel may also sell property in your accounts and cancel open orders for the purchase or sale of property without notice if, in our discre- tion, it is necessary for our protection or in the event you fail to make payment(s) for loan balances. In such events, Stifel also may borrow or buy-in all property required to make delivery against any sale, including a short sale, effected for you. Such sale or purchase may be public or private and may be made without advertising or notice to you and in such a manner as we determine. No demands, calls, tenders, or notices by Stifel shall be deemed a waiver of our rights under this Agreement. At any such sale, Stifel may purchase the property free of any right of redemption, and you shall be liable for any remaining deficiency in your account(s).

Liquidation of Collateral. When you borrow on margin, some or all of the securities in your Account become Stifel’s collateral for the loan to you. A decline in the value of these securities is a decline xx- xxxxx in the value of the collateral. If the collateral in your Account falls below either industry minimums or Stifel’s require- mentsrequirements, Stifel can sell securities or other assets in your Account to cover the deficiency without notice to you. Stifel may also sell property in your accounts and cancel open orders for the purchase or sale of property without notice if, in our discre- tiondiscretion, it is necessary for our protection or in the event you fail to make payment(s) for loan balances. In such events, Stifel also may borrow or buy-in all property required to make delivery against any sale, including a short sale, effected for you. Such sale or purchase may be public or private and may be made without advertising or notice to you and in such a manner as we determine. No demands, calls, tendersten- ders, or notices by Stifel shall be deemed a waiver of our rights under this Agreement. At any such sale, Stifel may purchase the property free of any right of redemption, and you shall be liable for any remaining deficiency in your account(s).

Liquidation of Collateral. When you borrow on margin, some or all of the securities in your Account become Stifel’s collateral for the loan to you. A decline in the value of these securities is a decline in the value of the collateral. If the collateral in your Account falls below either industry minimums or Stifel’s require- mentsrequirements, Stifel can sell securities or other assets in your Account to cover the deficiency without notice to you. Stifel may also sell property in your accounts and cancel open orders for the purchase or sale of property without notice if, in our discre- tiondiscretion, it is necessary for our protection or in the event you fail to make payment(s) for loan balances. In such events, Stifel also may borrow or buy-in all property required to make delivery deliv- ery against any sale, including a short sale, effected for you. Such sale or purchase may be public or private and may be made without advertising or notice to you and in such a manner as we determine. No demands, calls, tenders, or notices by Stifel shall be deemed a waiver of our rights under this Agreement. At any such sale, Stifel may purchase the property free of any right of redemption, and you shall be liable for any remaining deficiency in your account(s).

Liquidation of Collateral. When you borrow on margin, some or all of the securities in your Account become Stifel’s collateral for the loan to you. A decline in the value of these securities is a decline xx- xxxxx in the value of the collateral. If the collateral in your Account falls below either industry minimums or Stifel’s require- mentsrequirements, Stifel can sell securities or other assets in your Account to cover the deficiency without notice to you. Stifel may also sell property in your accounts and cancel open orders for the purchase or sale of property without notice if, in our discre- tiondiscretion, it is necessary for our protection or in the event you fail to make payment(s) for loan balances. In such events, Stifel shall also may borrow or buy-in all property required to make delivery against any sale, including includ- ing a short sale, effected for you. Such sale or purchase may be public or private and may be made without advertising or notice to you and in such a manner as we determine. No demands, calls, tenders, or notices by Stifel shall be deemed a waiver of our rights under this Agreement. At any such sale, Stifel may purchase the property free of any right of redemption, and you shall be liable for any remaining deficiency in your account(s).