Common use of Notwithstanding Clauses 1 Clause in Contracts

Notwithstanding Clauses 1. 2.1 to 1.2.4, and without prejudice to Clause 9.4.1 (including Clause 9.4.1(ii)), if at any time: (i) the Exchange is not satisfied with: (a) the capital, cash flow and/or any other aspect of the financial status of the Warehouse, the Group or any member of the Group; (b) any aspect of the insurance arrangements of the Warehouse, the Group or any member of the Group; or (c) any other aspect of the status, assets, business or operations of the Warehouse, the Group or any member of the Group; or (ii) the Exchange determines that the Warehouse, the Group or any member of the Group is Insolvent, or is likely to become Insolvent, the Exchange may: (A) require the Warehouse to provide the Exchange with credit protection in the form of a performance bond or cash cover, and the provisions of Clause 1.2.6 shall apply to such credit protection; and/or (B) suspend the entitlement of the Warehouse to issue further Warrants or Immobilised Warrants, and upon receiving notice of such suspension the Warehouse shall immediately stop issuing further Warrants and Immobilised Warrants.

Notwithstanding Clauses 1. 2.1 to 1.2.4, and without prejudice to Clause 9.4.1 (including Clause 9.4.1(ii)9.4.1.2), if at any time: (i) the Exchange is not satisfied with: (a) the capital, cash flow and/or any other aspect of the financial status of the Warehouse, the Group or any member of the Group; (b) any aspect of the insurance arrangements of the Warehouse, the Group or any member of the Group; or (c) any other aspect of the status, assets, business or operations of the Warehouse, the Group or any member of the Group; or (ii) the Exchange determines that the Warehouse, the Group or any member of the Group is Insolvent, or is likely to become Insolvent, the Exchange may: (A) require the Warehouse to provide the Exchange with credit protection in the form of a performance bond or cash cover, and the provisions of Clause 1.2.6 shall apply to such credit protection; and/or (B) suspend the entitlement of the Warehouse to issue further Warrants or Immobilised Warrants, and upon receiving notice of such suspension the Warehouse shall immediately stop issuing further Warrants and Immobilised Warrants.

Notwithstanding Clauses 1. 2.1 to 1.2.4, and without prejudice to Clause 9.4.1 (including Clause 9.4.1(ii)9.4.1.2), if at any time: (i) the Exchange is not satisfied with: (a) the capital, cash flow and/or any other aspect of the financial status of the Warehouse, the Group or any member of the Group; (b) any aspect of the insurance arrangements of the Warehouse, the Group or any member of the Group; or (c) any other aspect of the status, assets, business or operations of the Warehouse, the Group or any member of the Group; or (ii) the Exchange determines that the Warehouse, the Group or any member of the Group is Insolvent, or is likely to become Insolvent, the Exchange may:, (A) require the Warehouse to provide the Exchange with credit protection in the form of a performance bond or cash cover, and the provisions of Clause 1.2.6 shall apply to such credit protection; and/or (B) suspend the entitlement of the Warehouse to issue further Warrants or Immobilised Warrants, and upon receiving notice of such suspension the Warehouse shall immediately stop issuing further Warrants and Immobilised Warrants.