E-FORM 367 (06/2016)
RBC Direct Investing Inc.
INVESTMENT CLUB
ACCOUNT AGREEMENT
CLIENT NAME ACCOUNT NUMBER
To: RBC Direct Investing Inc. ("RBC Direct Investing®")
The undersigned, being all of the members of an investment club constituted and operating under the name shown below (the
"Club"), hereby individually and as members of the Club authorize and direct RBC Direct Investing to open and maintain an
account or accounts ("Accounts"), which may include a margin account, for buying, selling and generally dealing with
("trading") Securities in the name of the Club (or such other name as the Club may adopt from time to time). The undersigned,
as separate individuals and as members of the Club, agree with RBC Direct Investing as follows:
1.
Any one of
may, and each of them is hereby authorized on behalf of
the Club from time to time to:
(a) Instruct RBC Direct Investing in writing, orally
(including by telephone) or by electronic means with
respect to any trading in Securities and any other
transactions in the Accounts;
(b) Give instructions with respect to the delivery or
transfer of Securities and to sign and deliver receipts
for Securities or to instruct RBC Direct Investing
either in writing, orally (including by telephone) or by
electronic means to deliver any Securities to any
person;
(c) Sign on behalf of the Club all contracts, agreements,
releases, powers of attorney and other documents
required by RBC Direct Investing in connection with
the operation of the Accounts and any trading of
Securities;
(d) Operate the Accounts on such margin(s) as may be
advised by RBC Direct Investing to the Club from
time to time, and in connection therewith to
authorize RBC Direct Investing to conduct trading of
Securities on the credit of the Club;
(e) Create a security interest in any Securities in favour
of RBC Direct Investing to secure repayment of all
obligations and indebtedness, present or future, of
the Club to RBC Direct Investing.
2. RBC Direct Investing may honour instructions received
by it pursuant to this resolution, and in particular may
honour oral (including telephone) instructions or
electronic (including telefax) instructions purporting to be
given by any of the persons authorized hereunder
without the necessity of any further verification or
inquiry by RBC Direct Investing.
3. (a) Notice given to RBC Direct Investing in writing by
anyofficer of the election or appointment of a
newofficer of the Club shall be deemed to be
conclusive evidence that such new officer has been
properly appointed.
(b)
Any member who has withdrawn from the Club shall
cease to be liable for any trading which occurred or
obligations that arose after the receipt by RBC Direct
Investing of a notice in writing of withdrawal, signed
by the withdrawing member and countersigned by
an officer, but shall remain liable
with respect to all trading which occurred or
obligations that arose, or in either case were
contracted for prior to the date of receipt by RBC
Direct Investing of such notice.
(c)
In the event of the addition of any new member(s),
all existing and new members shall sign a new
Investment Club Account Agreement.
Notwithstanding the execution of such a new
agreement, this agreement shall remain in effect in
respect of all prior obligations for so long as such
obligations remain outstanding.
4.
Each and every obligation of the Club to RBC Direct
Investing shall also be the separate and individual
obligation of each of the undersigned.
5.
Each of the undersigned represents and warrants that he
or she is of the age of majority.
6.
Each of the undersigned acknowledges that he or she
has read and understood this agreement, and received a
copy of it.
7.
In the event of the death, bankruptcy or loss of legal
capacity of any of the undersigned, an officer of the
Club will immediately provide RBC Direct Investing with
notice in writing of such event, together with the name
(s) and address(es) of the legal representative(s) of such
person.
8.
The dissolution of the Club, however caused, shall not
affect the provisions of this agreement and the rights
and powers conferred hereunder may be exercised from
time to time to the same extent as though such
dissolution had not occurred and all acts and things done
or separate exercise of such rights and powers shall be
binding upon the Club and each of the undersigned or
their heirs, executors, administrators and legal
representatives, as the case may be, provided that this
agreement may be terminated for the future by a written
notice to RBC Direct Investing signed by one of the
undersigned or the heirs, executors, administrators or
legal representatives of one of the undersigned, but such
notice shall be effective only from the time of its receipt
by RBC Direct Investing, and notwithstanding such
termination RBC Direct Investing may fulfil any and all
obligations to third parties which it may have undertaken
in the course of dealing with the Club and the rights and
powers conferred by this agreement may be exercised
for the purpose of performing or completing the
performance of any and all obligations of the Club to
RBC Direct Investing, the whole to the same extent and
with the same effect as though such termination had not
taken place.
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