The Licensed Person shall immediately stop receiving Clients’ funds upon the occurrence of a Primary Default Event. In the event that a transfer of any Client’s assets to the Licensed Person occurs, he shall return the same immediately to the Client, except the following cases: 1. The funds are Client’s funds relating to a transaction that has not settled at the time of Primary Default Event of the Licensed Person; 2. The funds are due from the Client to the Licensed Person at the time of the Primary Default Event.