Common use of Failure to Qualify Clause in Contracts

Failure to Qualify. (a) Non-Qualification - Subscriber understands that if the CEG determines at any time that Subscriber does not qualify as a Non-Professional subscriber, Subscriber may continue to receive Market Data only after entering into one or more appropriate agreements with the CEG. The CEG may deny Subscriber the opportunity to enter into such agreement(s) if Subscriber’s failure to qualify results from willful misrepresentations or omissions or from willful breach of the CEG NPAA. (b) Retroactive Payment - In the event that a determination of non-qualification is based upon a misrepresentation made herein by Subscriber, or a failure by Subscriber to update information provided to the CEG, the CEG may notify Subscriber in writing (i) of such determination, (ii) of the period, as determined by the CEG, during which Subscriber received Market Data but did not qualify as a Non-Professional Subscriber and (iii) of the amount, calculated at the CEG’s then-current Professional Subscriber rates, applicable to such period. Within thirty (30) days of receipt of such notice, Subscriber shall pay such amount to the CEG.

Failure to Qualify. (aa ) Non-Qualification - Subscriber understands that if the CEG determines at any time that Subscriber does not qualify qua l i fy as a Non-Professional subscriber, Subscriber may continue to receive Market Data only after entering into one or more appropriate agreements with the CEG. The CEG may deny Subscriber the opportunity to enter into such agreement(s) if Subscriber’s failure to qualify results from willful wilful misrepresentations or omissions or from willful wilful breach of the CEG NPAA. (bb ) Retroactive Payment - In the event that a determination determinatio n of non-qualification is based upon a misrepresentation made herein by Subscriber, or a failure by Subscriber to update information provided to the CEG, the CEG may notify Subscriber in writing (i) of such determination, (ii) of the period, as determined by the CEG, during which Subscriber received Market Data but did not qualify as a Non-Professional Subscriber and (iii) of the amount, calculated at the CEG’s then-current Professional Subscriber rates, applicable to such period. Within thirty (30) days of receipt of such notice, Subscriber shall pay such amount to the CEG.

Failure to Qualify. (a) Non-Qualification - Subscriber understands that if the CEG determines at any time that Subscriber does not qualify as a Non-Professional subscriber, Subscriber may continue to receive Market Data only after entering into one or more appropriate agreements with the CEG. The CEG may deny Subscriber the opportunity to enter into such agreement(s) if Subscriber’s failure to qualify results from willful wilful misrepresentations or omissions or from willful wilful breach of the CEG NPAA. (b) Retroactive Payment - In the event that a determination of non-qualification is based upon a misrepresentation made herein by Subscriber, or a failure by Subscriber to update information provided to the CEG, the CEG may notify Subscriber in writing (i) of such determination, (ii) of the period, as determined by the CEG, during which Subscriber received Market Data but did not qualify as a Non-Professional Subscriber and (iii) of the amount, calculated at the CEG’s then-current Professional Subscriber rates, applicable to such period. Within thirty (30) days of receipt of such notice, Subscriber shall pay such amount to the CEG.