Common use of Prerequisite Requirements Clause in Contracts

Prerequisite Requirements. Prior to this Agreement coming into effect, the following conditions must be met to the satisfaction of CLSAK: (a) A User who wishes to utilize the DMA Service must establish and maintain a secure telecommunication line/network connecting to the CLSA System (“User Network”) with a service provider approved by CLSAK. (b) The User shall provide such information as CLSAK may request to set up the User’s reference data on the CLSA System and to determine the appropriate execution limit of the User for the provision of the DMA Service. (c) The User shall provide CLSAK with a list of persons authorized by the User (the “Authorized Persons”) to access and place DMA orders with CLSAK on behalf of the User and such other information regarding the Authorized Persons as CLSAK shall require for the purpose of compliance with Korean law and regulations. (d) The User shall provide CLSAK with a consent letter (substantially in the form set out in Appendix I) duly signed by an authorized signatory of the User with respect to matters required to be complied in accordance with the Act on Real Name Financial Transactions and Guarantee of Secrecy of the Republic of Korea. (e) The User is a “Professional Investor” as this term is defined under Article 9(5) of the Financial Investment services and Capital Market Act. The User shall notify CLSAK in writing (as required by paragraph B of Appendix II) if the User wishes to be treated other than a professional investor. (f) The User shall provide CLSAK with any and all documents, materials and information required for CLSAK to comply with Korean law and regulations.

Prerequisite Requirements. Prior to this Agreement coming into effect, the following conditions must be met to the satisfaction of CLSAK: (a) A User who wishes to utilize the DMA Service must establish and maintain a secure telecommunication line/network connecting to the CLSA System (“User Network”) with a service provider approved by CLSAK. (b) The User shall provide such information as CLSAK may request to set up the User’s reference data on the CLSA System and to determine the appropriate execution limit of the User for the provision of the DMA Service. (c) The User shall provide CLSAK with a list of persons authorized by the User (the “Authorized Persons”) to access and place DMA orders with CLSAK on behalf of the User and such other information regarding the Authorized Persons as CLSAK shall require for the purpose of compliance with Korean law and regulations. (d) The User shall provide CLSAK with a consent letter (substantially in the form set out in Appendix I) duly signed by an authorized signatory of the User with respect to matters required to be complied in accordance with the Act on Real Name Financial Transactions and Guarantee of Secrecy of the Republic of Korea. (e) The User is a “Professional Investor” as this term is defined under Article 9(5) of the Financial Investment services and Capital Market Act. The User shall notify CLSAK in writing (as required by paragraph B of Appendix II) if the User wishes to be treated other as a general customer rather than a professional qualified institutional investor. (f) The User shall provide CLSAK with any and all documents, materials and information required for CLSAK to comply with Korean law and regulations.