Agent Member applications Sample Clauses

Agent Member applications. (a) To appoint an Agent Member, an application must be made under clause 4.2(a) by the Appointing Member and the Agent Member. (b) The Appointing Members for an Agent Member may specify that it is a joint appointment (for example, where the Agent Member is appointed by the members of a joint venture). For a joint appointment, the application must be joint. An Agent Member whose appointment was accepted by the Operator before the date this clause was inserted in this agreement is taken to be a joint appointment by the Appointing Members. (c) In addition to satisfying the requirements of clause 4.2 (where applicable), an application under clause 4.5.1(a) must: (i) contain the information specified by the Operator about the proposed Agent Member; (ii) specify whether it is a joint appointment; and (iii) be accompanied by information in a form satisfactory to the Operator evidencing that all the applicants have appointed the proposed Agent Member to act as their agent under and in connection with this agreement and in respect of the same participant category, and that the Agent Member has accepted that appointment. (d) To be eligible to act (and remain) as an Agent Member, a person must: (i) have been appointed to be an Agent Member and that appointment must not have been revoked; (ii) be resident in, or have a permanent establishment in, Australia; (iii) not be an externally-administered body corporate (as defined in the Corporations Act) or under a similar form of administration under the laws of some other jurisdiction; (iv) not be immune from liabilities incurred as an Agent Member; and (v) be capable of being sued in its own name in a court of competent jurisdiction; and (vi) if the person is also a party to an Auction Agreement, have been appointed by the same persons to be their “Agent Participant” under the Auction Agreement, and that appointment must not have been revoked. (e) Clause 4.2 applies to the consideration of an application under this clause with any necessary changes. In addition, if the Operator is not satisfied that any proposed Agent Member is eligible, then the Operator may refuse to accept the appointment (even if it accepts the application for membership). (f) If the Operator accepts the appointment of an Agent Member, it must notify the applicants. (g) There is deemed to be a Suspension Event for the purposes of clause 19.2(a)(ii) in relation to all the Appointing Members for the Agent Member and the Operator may impose a Trading Hal...
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Related to Agent Member applications

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  • Book-Entry Provisions for Global Securities (a) The Global Securities initially shall (i) be registered in the name of the Depositary or the nominee of such Depositary and (ii) be delivered to the Trustee as custodian for the Depositary. (b) Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee as its custodian, or under the Global Security, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of any Holder. (c) Transfers of the Global Securities shall be limited to transfers in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Security may be transferred or exchanged, in whole or in part, for Physical Securities in accordance with the rules and procedures of the Depositary and the provisions of Section 3.09. 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(d) In connection with any transfer or exchange of a portion of the beneficial interest in the Global Security to beneficial owners pursuant to clause (b) of this Section 3.08, the Security Registrar shall (if one or more Physical Securities are to be issued) reflect on its books and records the date and a decrease in the Principal Amount of the Global Security in an amount equal to the Principal Amount of the beneficial interest in the Global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate, upon receipt of a Company Order, and deliver, one or more Physical Securities of like tenor and amount. (e) In connection with the transfer of the entire Global Security to beneficial owners pursuant to clause (b) of this Section 3.08, the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial interest in the Global Security, an equal aggregate Principal Amount of Physical Securities of authorized denominations and the same tenor. (f) The Holder of the Global Securities may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 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