Common use of Professional Client Clause in Contracts

Professional Client. The sale of any part of any LBI Distribution by the Company pursuant to Clause 20 of the Common Terms shall be performed on the basis that each Consenting Beneficiary is a “professional client” and following such categorisation processes as are required under the rules of the FSA. Each Consenting Beneficiary acknowledges and agrees that it will keep the Company informed of any change that could affect its categorisation pursuant to the FSA Rules.