Common use of Amendments to Rules Clause in Contracts

Amendments to Rules. 13.1 Clearnet may at any time amend its Clearing Rules, provided that Clearnet shall consult with each Euronext Market Undertaking in respect of any proposed amendment to any part of the Clearing Rules insofar as they are applicable to the performance of Clearnet’s obligations under this Agreement owed to such Euronext Market Undertaking. 13.2 Any Euronext Market Undertaking may at any time amend its rules, provided that such Euronext Market Undertaking shall consult with Clearnet in respect of any proposed amendment which may have an impact on the provision of the Clearing Services by Clearnet. 13.3 Each party agrees that it will not knowingly maintain or introduce any requirement binding on its members which is reasonably likely to have a material adverse effect on the ability of any of the other parties properly and fully to comply with their obligations under this Agreement, unless such amendment is required by the party’s regulator or to fulfil legal or taxation requirements. 13.4 If any party becomes aware that any provision in another party’s rules, regulations or procedures is materially inconsistent with any provision of the other documentation, it shall notify the other party as soon as reasonably practicable and the parties shall co-operate to make such amendments as they may agree in order to remove that inconsistency. 13.5 Each party acknowledges that any other party may make any amendment to its rules, regulations or procedures if required to do so in order to comply with law or its obligations to or any valid requirement of any regulator with jurisdiction over it or authority to regulate its business activities.