RBC Direct Investing Inc. and Royal Bank of Canada are separate corporate entities which are affiliated. RBC Direct Investing Inc. is a wholly owned subsidiary of Royal Bank of Canada and is a
Member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Royal Bank of Canada and certain of its issuers are related to RBC Direct
Investing Inc. RBC Direct Investing Inc. does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own
investment decisions. RBC Direct Investing is a business name used by RBC Direct Investing Inc. ® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of
Royal Bank of Canada. Used under licence. © Royal Bank of Canada 2016. All rights reserved.
RBC Direct Investing Inc.
(Personal Guarantee of all of a Corporation's Indebtedness)
To: RBC Direct Investing Inc. ("RBC Direct Investing®")
In consideration of RBC Direct Investing establishing or maintaining
one or more accounts for the corporation named on the reverse side
(the "Customer") or otherwise giving credit to the Customer, the
undersigned individual (the "Guarantor") hereby unconditionally
guarantees jointly and severally with the Customer timely payment
to RBC Direct Investing of: (a) all debit balances existing in any
account maintained with RBC Direct Investing by the Customer,
whether alone or with others; and (b) all other liabilities owing to
RBC Direct Investing by the Customer, whether alone or with others,
whether as principal, Guarantor or surety; whether absolute or
contingent and whether matured or not (such debit balances and
liabilities being referred to herein as the "Liabilities").
The Guarantor further agrees as follows:
Continuing Guarantee. This Guarantee is a continuing guarantee,
which covers all present and future Liabilities, and this Guarantee
will survive any incidental, temporary or intermittent closing out,
reopening or renumbering of any of the Customer’s accounts.
Payments to RBC Direct Investing. The Guarantor will, upon any
demand therefore, pay to RBC Direct Investing the amount of all
the Liabilities, or such part thereof as may have been demanded,
together with Interest, calculated daily and compounded monthly,
from the date of demand until payment. The rate of interest will
be the rate as shown on the monthly or quarterly account
statements. We may change the interest rate at any time. Our
current interest rates are available upon request or on our
website at www.rbcdirectinvesting.com. Any amount which RBC
Direct Investing states is owing by the Customer shall be
accepted by the Guarantor as conclusive evidence that such
amount is owing by the Customer to RBC Direct Investing. RBC
Direct Investing shall be entitled to make more than one demand
under this Guarantee and no demand shall in any way terminate
or extinguish this Guarantee.
Guarantor’s Waiver of Notice. The Guarantor waives notice of,
and any modifications to, the terms of any present or future
agreement between the Customer and RBC Direct Investing, the
types of Securities traded by the Customer and the Customer’s
trading pattern. The Guarantor confirms that RBC Direct Investing
may deal with and accept orders for the Customer’s accounts
without notice to the Guarantor. The Guarantor also waives
notice of the condition of the Customer’s accounts at any time
and from time to time, including notice of any failure by the
Customer to make timely payments of the Liabilities, and the
Guarantor waives any right to automatically receive copies of any
confirmations, statements or other communications sent by RBC
Direct Investing to the Customer. The Guarantor shall be entitled
to receive from RBC Direct Investing on request written
confirmation from time to time of the Customer’s liability to RBC
Direct Investing in respect of the account or accounts to which
this Guarantee relates, provided that RBC Direct Investing has
received the written consent of the Customer for such provision
of information.
Termination of Guarantee. The Guarantor may terminate this
Guarantee by sending a written notice to RBC Direct Investing by
registered mail, addressed to the attention of RBC Direct
Investing's Chief Compliance Officer at its head office in Toronto,
Ontario. By giving such notice, the Guarantor shall not, except
for any transactions executed by RBC Direct Investing within a
reasonable time after receipt of such notice for the purpose of
closing out positions existing at such time, be liable to RBC
Direct Investing for any Liabilities arising on or after the trading
day immediately following the day on which such notice is
received. The Guarantor shall continue to be liable to RBC
Direct Investing for any Liabilities arising from transactions
executed on or before the day of receipt of such notice.
Waiver of Defences. The Guarantor’s liability to RBC Direct
Investing will not be released, discharged, limited, reduced or
otherwise affected by RBC Direct Investing:
Granting any extension or other indulgence or any release or
discharge to the Customer or any other guarantor or surety;
Asking, giving up or abstaining from perfecting any security
or taking advantage of, exercising or otherwise dealing with
any security held by RBC Direct Investing;
Accepting any compositions from or otherwise dealing with
the Customer or any other guarantor or surety;
Applying any monies received from the Customer or others
or from any security against the Liabilities in any manner
RBC Direct Investing sees fit;
Failing to exhaust its recourse against the Customer or any
other guarantor or surety at any time prior to requiring or
enforcing payment from the Guarantor under this
Guarantee; or
Acting, or failing to act, in any manner which might
otherwise operate as a discharge, whether partial or
absolute, of the Guarantor’s obligations under this
Guarantee;
Any right of set-off, counterclaim, appropriation, application
or other demand or right the Customer or Guarantor may
have;
Any irregularity, defect or informality in any obligation,
document or transaction relating to the Customer or its
accounts;
Any acts done, omitted, suffered or permitted by RBC
Direct Investing in connection with the Customer, its
account, the Liabilities or any other guarantees or security
held in respect thereof, including any renewals, extensions,
waivers, releases, amendments, compromises or
indulgences agreed to by RBC Direct Investing to the
Guarantor in accordance with section 3 above;
The incapacity, bankruptcy or other fundamental change of
or affecting the Customer;
Provided that in the event the Guarantor shall be released for any
reason from this Guarantee the Guarantor shall remain liable as
principal debtor in respect of the Liabilities. The Guarantor hereby
renounces all benefits of division and discussion and waives any
rights of subrogation until all Liabilities are paid full.
