Common use of Operating Your Account Clause in Contracts

Operating Your Account. Reference Currency, Deposits, Payments and Withdrawals 8.1. You agree to comply with the following when making payments to us under these Terms: a. all transfers to us (including cash & securities) are to be made to such account as is designated by us; b. you may make any payment to us (including deposits), crossed cheque, or bank wire or any other method specified by us from time to time; c. we do not accept payments or deposits in the form of cash except under exceptional circumstances and subject always to compliance with Applicable Law; d. you are responsible for all third party electronic, telegraphic transfer or other bank fees in respect of payment as well as any fees or charges imposed by us, which may be based on the elected payment method; e. if any payment is not received by us on the date such payment is due, then (without limitation of any other rights we may have) we will be entitled to charge interest on the overdue amount (both before and after judgment) at an interest rate of LIBOR +3% from the date payment was due until the actual date of payment. For this purpose, we will determine LIBOR, in our sole and absolute discretion, in accordance with prevailing money market conditions; f. any payment made to us will only be deemed to have been received when we receive cleared funds; and g. you bear the responsibility to ensure that payments made to us are correctly designated in all respects including without limitation, your Account details where required by us. 8.2. You may request a withdrawal or transfer of funds from your Account where the balance of your Account is positive. We may at our sole and absolute discretion withhold, deduct or refuse to make a payment (in whole or in part) where: a. you have any actual or contingent liability to any member of the ADSS Group or any Service Provider; b. we reasonably determine that there is an unresolved dispute between us and you relating to these Terms or any other agreement between us; c. you instruct us to pay a third party from your Account; or d. we reasonably consider that making such payment would cause us to breach or otherwise infringe any Applicable Law. 8.3. Unless otherwise agreed in writing by us and subject always to compliance with Applicable Law, all payments from your Account shall be made in the form of a bank wire transfer. We do not make payments in cash. 8.4. You will be asked to designate a Reference Currency for each Portfolio. We will accept Emirati Dirham, Pounds Sterling, United States Dollars, Euros, Swiss Francs or any other currency specified by us from time to time as Reference Currency. a. All payments into your Account will be credited in the currency they are received. b. All payments from your Account will be made in the Currency instructed if available in the Portfolio c. All interest, costs, commissions or other charges related to an investment will be debited in the respective currency. d. All quarterly fees are debited in the reference currency. e. Whenever we conduct currency conversions, we will do so at such rate of exchange as we select at our sole and absolute discretion. You agree that we will be entitled to add a ▇▇▇▇-up to the exchange rates. 8.5. Unless we provide you with written notice to the contrary, all payments and deliveries by us to you will be made on a net basis. We will not be obliged to deliver or make any payment to you unless and until you provide us with any required documents or cleared funds.

Operating Your Account. Reference Base Currency, Deposits, Payments and Withdrawals 8.1. 10.1 You agree to comply with the following when making payments to us under these Termsthe Account Agreement: a. (i) all transfers payments to us (including cash & securitiesdeposits) are to be made in immediately available funds and to such account as is designated by us; b. ; all payments to us (including deposits) are to be made in a currency which is a Base Currency, unless we otherwise agree in writing or we request that you make a payment to us in a currency other than a Base Currency; all payment to us must be made without set-off or counterclaim and without deduction. If you are compelled to withhold or make any deduction, you shall pay additional amounts to ensure receipt by us of the full amount which we would have received but for such withholding or deduction. If you fail to meet your obligations you agree that you are accountable for any resulting expenses and Loss suffered by us; you may make any payment to us (including deposits), ) by crossed cheque, or bank wire or any other method specified by us from time to time; c. us; we do not accept payments or deposits in the form of cash except under exceptional circumstances and subject always to compliance with Applicable Law; d. ; you are responsible for all third party electronic, telegraphic transfer or other bank fees in respect of payment as well as any fees or charges imposed by us, which may be based on the elected payment method; e. ; if any payment is not received by us on the date such payment is due, then (without limitation of any other rights we may have) we will be entitled to charge interest on the overdue amount (both before and after judgmentjudgement) at an interest rate of LIBOR +3LIBOR+4% from the date payment was due until the actual date of payment. For this purpose, we will determine LIBOR, in our sole and absolute discretion, in accordance with prevailing money market conditions; f. ; any payment made to us will only be deemed to have been received when we receive cleared funds; and g. and you bear the responsibility to ensure that payments made to us are correctly designated in all respects including including, without limitation, your Account details where required by us. 8.2. 10.2 You may request a withdrawal or transfer of funds from your Account where the balance of your Account is positive. We may at our sole and absolute discretion withhold, deduct or refuse to make a payment (in whole or in part) where: a. (a) you have Open Positions on the Account showing a Loss; (b) the requested payment would reduce your Account balance to less than the amount required to meet your Margin Requirement in respect of your Open Positions; (c) we reasonably consider that funds may be required to meet any current or future Margin Requirement on Open Positions due to underlying market conditions; (d) you have any actual or contingent liability to any member of the ADSS Group ZILLION or any Service Provider; b. (e) we reasonably determine that there is an unresolved dispute between us and you relating to these Terms the Account Agreement or any other agreement between us; c. (f) you instruct us to pay a third party from your Account; or d. (g) we reasonably consider that making such payment would cause us to breach or otherwise infringe any Applicable Law. 8.3. 10.3 Unless otherwise agreed in writing by us and subject always to compliance with Applicable Law, all payments from your Account shall be made in the form of a crossed cheque naming you or bank wire transfer. We do not make payments in cash. 8.4. You 10.4 Where we offer Accounts in more than one Base Currency, you will be asked to designate a Reference Base Currency for each Portfolio. We will accept Emirati Dirham, Pounds Sterling, United States Dollars, Euros, Swiss Francs or any other currency specified by us from time to time as Reference CurrencyAccount. a. (a) All payments into your Account will be credited in converted from the currency in which they are receivedreceived into the Base Currency of the Account in which they are deposited. The terms of this Clause will also apply where we make any payment to your Account in a currency other than the Base Currency of the Account receiving the deposit. b. (b) All payments from your Account will be made in the Base Currency instructed if available of that Account unless we agree in the Portfolio c. All writing that such payment should be made in a different currency. The terms of this Clause will also apply where any interest, costs, commissions or other charges related to an investment will be debited from your Account are in a currency other than the respective currencyBase Currency of the Account. Where we agree to make a payment in a currency other than the Base Currency of the Account, we will convert the relevant payment amount from the Base Currency to the agreed currency for payment. d. All quarterly fees are debited in the reference currency. e. (c) Whenever we conduct currency conversions, we will do so at such rate of exchange as we select at obtain from our sole and absolute discretionbankers. You agree that we will be entitled to add a ▇▇▇▇-up mark-up to the exchange rates. 8.5. 10.5 You understand and agree that where a Transaction is effected in a currency other than the Base Currency, any profit or loss arising as a result of a fluctuation in the applicable exchange rate will be entirely for your Account. 10.6 All Margin payments shall be made in Base Currency in such amounts as we in our sole discretion may require. 10.7 Unless we provide you with written notice to the contrary, all payments and deliveries by us to you will be made on a net basis. We will not be obliged to deliver or make any payment to you unless and until you provide us with any required documents or cleared funds.