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er of such right or any other right granted hereunder. DB51 retains the right to delegate to its agent, including its clearing agent. Pershing LLC (Pershing), one or more of DBSI's rights or obligations under this Agreement without notice to Client. 2. Cash Account. DBSI will classify each Account as a c
have the discretion to determine which Securities and Other Property to apply for the purposes of the foregoing. With respect to the Pershing Lien, Pershing may, at any time and without prior notice, sell, transfer; release, exchange, settle or otherwise dispose of or deal with any or all Margin Coirater
, and the services rendered thereunder, are not io:ended to create a joint venture, partnership or other form of business organization of any kind. Pershing shall not be responsible or liable to Client for any aots or omissions of DBSI or its employees. Pershing does not provide investment advice, nor of
d, hypothecated or rehypothecated without notice to Client, either separately or in common with other Securities and Other Property of 0851's other Clionts for any amount due in any account with DBSI in which Client has ao interest, or for any greater amount, and DBSI may do so without retaining in its
ther Property now or hereafter held, carried or maintained by or in the possession of DBSI that have not been fully paid for may be lent to OBSI, to Pershing or to others, and may be pledged• repledged, hypothecated or rehypothecated without raffles to Client, either separately or in common with other Sec
, hypothecated or rehypothecated without raffles to Client, either separately or in common with other Securities end Other Property of DBSI's other Clionts for any amount due in any account with DBSI in which Client has ao interest, or for any greater amount, and DBSI may do so without retaining in its
ther Property now or hereafter held, carried or maintained by or in the possession of DBSI that have not been fully paid for may be lent to OBSI, to Pershing or to others, and may be pledged• repledged, hypothecated or rehypothecated without notice to Client, either separately or in common with other Secu
d, hypothecated or rehypothecated without notice to Client, either separately or in common with other Securities end Other Property of DBSI's other Clionts for any amount due in any account with DBSI in which Client has ao interest, or for any greater amount, and DBSI may do so without retaining in its
ther Property now or hereafter held, carried or maintained by or in the possession of DBSI that have not been fully paid for may be lent to OBSI, to Pershing or to others, and may be pledged• repledged, hypothecated or rehypothecated without notice to Client, either separately or in common with other Secu
d, hypothecated or rehypothecated without notice to Client, either separately or in common with other Securities end Other Property of DBSI's other Clionts for any amount due in any account with DBSI in which Client has ao interest, or for any greater amount, and DBSI may do so without retaining in its
Entities connected to both Pershing and Clionts

United States
LOCATION
Federal Reserve
ORGANIZATIONDEISI
ORGANIZATIONForeign Securities which Client
ORGANIZATIONForeign Securities
ORGANIZATIONSecurities anti Other Property
ORGANIZATIONDFISI
ORGANIZATIONen Affiliate
ORGANIZATIONthe Securities and Exchange Commissinn
ORGANIZATION