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1 ou will be provided to the Customers terminal and /or as reports accessible to the Customer via the FX Payment System and the Customer may print the Confirmation, provided, however, that the Trader Contract will be valid notwithstanding any failure of the Customer to receive or print such information. Each Trader Contract will give rise to an obligation for the Customer to buy from the Bank, and for the Bank to sell to the Customer, the amount of Eligible Trading Currency indicated in the Confirmation as being purchased by the Customer, or for the Bank to buy from the Customer, and the Customer to sell to the Bank, the amount of Eligible Trading Currency indicated in the Confirmation as being sold by the Customer, in each case in exchange for any other Eligible Trading Currency on the terms set forth in the Confirmation, for settlement on the Value Date. (e) Buy Back of Currency. Trader Contracts are final and irrevocable. The Customer acknowledges and agrees that the Bank has no obligation to cancel, reverse or otherwise buy back an Eligible Trading Currency purchased by the Customer under the Service. The Customer acknowledges that it may not be able to sell back to the Bank certain Eligible Trading Currencies once purchased (whether via the FX Payment System or otherwise). Although the Bank may elect to facilitate buy back of certain major Eligible Trading Currencies (at the Bank's sole discretion), the Bank makes no commitment to buy back Eligible Trading Currencies notwithstanding any prior action or course of dealing. To the extent the Bank acts upon a request to buy back Eligible Trading Currencies, the Customer will indemnify the Bank from and against any and all claims, losses (including without limitation losses resulting from FX rate fluctuations) or expenses resulting from compliance by the Bank with any such request. 3. Settlement. (a) Processing Settlement Instructions. The Customer shall provide settlement instructions for each Trader Contract no later than 5:00 p.m., New York time, on the Value Date in respect of such Trader Contract. If the Customer fails to provide settlement instructions by the Value Date as required herein, the Bank reserves the right to reconvert the applicable Eligible Trading Currency into the original Eligible Trading Currency, and the Customer will bear the risk of any change in foreign exchange rates. The Customer will enter settlement instructions pursuant to the procedures set forth in the Service Material and pursuant to procedures provided to the Customer through the FX Payment System. As a condition precedent to using this Service, Customer is required to complete documentation provided by the Bank applicable for each service used for settlement. (b) Funding Currency Transactions. Whenever purchasing an Eligible Trading Currency pursuant to a Trader Contract, Customers who are established by the Bank as "credit- basis" Customers shall make the requisite amount of funds available to the Bank by depositing such funds into an account designated by the Bank no later than close of business in the principal financial center in respect of the Eligible Trading Currency being sold on the Value Date. Whenever selling an Eligible Trading Currency, the Customer shall deposit such Eligible Trading Currency to an account designated by the Bank no later than close of business in the principal financial center in respect of the Eligible Trading Currency being sold on the Value Date. The Bank is authorized to reverse any payment order transmitted by the Bank with respect to any Trader Contract if the Customer fails to deliver full and final payment to the Bank by the Value Date. Notwithstanding anything to the contrary in these Service Terms, the Bank's obligation to process settlement instructions for purchase of an Eligible Trading Currency in advance of the Bank's receipt of full and final payment from the Customer is subject to the limitation that the aggregate maximum value of all Trader Contracts for purchases of Eligible Trading Currencies having the same Value Date shall not be in excess of an amount established by the Bank for the Customer from time to time in its sole discretion. The Bank reserves the right to refuse or delay the FX transaction in the event the Customer has exceeded such aggregate maximum limit. Such limit/ amount shall be subject to revision or cancellation by the Bank at any time without prior notice. (c) Cash Basis Customer. Customers who are established by the Bank as "cash basis" Customers may only enter into Trader Contracts for the exchange of Eligible Trading Currencies when sufficient funds are available in the Customers account on transaction date. Such Trader Contracts will have a Value Date one or two business days from the Transaction Date for most Eligible Trading Currencies, as established by the Bank. The account of a Cash Basis Customer will be debited on the Transaction Date, and not the Value Date. If the Customers account does not have sufficient funds available to cover the Trader Contract on the Transaction Date, the Bank, on the following business day, may cancel the Trader Contract and any associated payment order. The Bank shall have no liability to the Customer in the event the Bank cancels a Trader Contract due to the Customer not having sufficient funds available to cover the Trader Contract on the Transaction Date. (d) Payment in Specified Currency. The receipt or recovery by the Bank or by the Customer of any amount with respect to an obligation of the other in respect of a Trader Contract for a currency (whether or not an Eligible Trading Currency, the "Received Currency") other than the Eligible Trading Currency specified for payment under such Trader Contract (the "Settlement Currency"), whether pursuant to a judgment of any court or pursuant to a separate close -out agreement or otherwise, shall discharge such obligation only to the extent that on the business day immediately following such receipt the recipient shall be able, in accordance with normal banking procedures, to purchase the Settlement Currency in the amount specified with the Received Currency. If the amount of the Settlement Currency shall be less than the amount specified under such Trader Contract, the obligor shall, as a separate obligation and notwithstanding any judgment of any court, indemnify the recipient against any loss sustained by it. The obligor shall in any event indemnify the recipient against any costs incurred by it in making any such purchase of the Settlement Currency. PN: 1125416 DOC ID: 6 Page 50 of 51