Common use of Basis of Transactions Clause in Contracts

Basis of Transactions. 1.4.1 The Customer shall ensure that all necessary authorisations, licences, approvals and consents of any governmental or other regulatory body or authority applicable to each Transaction are obtained and that the terms thereof and of all Applicable Laws are complied with. 1.4.2 SFP may require the Customer to supply, and the Customer shall supply such evidence of compliance with Clause 1.4.1 as SFP may require. Notwithstanding the foregoing, the absence or lack of any such authorisation, licence, approval or consent shall not be a bar to any action or proceedings for recovery of payment or delivery by SFP against the Customer in respect of any Account, Service or Transaction. 1.4.3 All Transactions on any Account are entered into in reliance on the fact that, to the extent permissible under all Applicable Laws, this Customer Agreement and, all outstanding Transactions (and to the extent recorded in a Confirmation, each such Confirmation) shall form a single agreement between SFP and the Customer and the parties would not otherwise enter into such Transactions. 1.4.4 Unless SFP otherwise agrees with the Customer, each party's obligation (including any obligation to make any payment or delivery) to the other party under this Customer Agreement is subject to the condition precedent that: (a) there is no Default subsisting or amount owing to the first-mentioned party on the part of the other party; and (b) no Liquidation Date in respect of the relevant Transaction has occurred or otherwise been specified.

Basis of Transactions. 1.4.1 The Customer shall ensure that all necessary authorisations, licences, approvals and consents of any governmental or other regulatory body or authority applicable to each Transaction are obtained and that the terms thereof and of all Applicable Laws are complied with. 1.4.2 SFP IFPL may require the Customer to supply, and the Customer shall supply such evidence of compliance with Clause 1.4.1 as SFP IFPL may require. Notwithstanding the foregoing, the absence or lack of any such authorisation, licence, approval or consent shall not be a bar to any action or proceedings for recovery of payment or delivery by SFP IFPL against the Customer in respect of any Account, Service or Transaction. 1.4.3 All Transactions on any Account are entered into in reliance on the fact that, to the extent permissible under all Applicable Laws, this Customer Agreement and, all outstanding Transactions (and to the extent recorded in a Confirmation, each such Confirmation) shall form a single agreement between SFP IFPL and the Customer and the parties would not otherwise enter into such Transactions. 1.4.4 Unless SFP IFPL otherwise agrees with the Customer, each party's obligation (including any obligation to make any payment or delivery) to the other party under this Customer Agreement is subject to the condition precedent that: (a) there is no Default subsisting or amount owing to the first-mentioned party on the part of the other party; and (b) no Liquidation Date in respect of the relevant Transaction has occurred or otherwise been specified.