Common use of Changes to the Appointing Members Clause in Contracts

Changes to the Appointing Members. (a) An Agent Member may from time to time on application to the Operator containing the information specified by the Operator: (i) include an additional person as an Appointing Member for the Agent Member; or (ii) remove a Member as an Appointing Member for the Agent Member. (b) If the Agent Member is also an Agent Participant under an Auction Agreement and an application is made under paragraph (a), a corresponding application must also be made under the Auction Agreement. (c) Any application under paragraph (a) to include an additional person as an Appointing Member must be accompanied by information in a form satisfactory to the Operator evidencing that the person has appointed the proposed Agent Member to act as its agent for the purposes of this agreement (and if the Agent Participant is also an Auction Participant under an Auction Agreement, the Auction Agreement) and that Agent Member has accepted that appointment. (d) If an application under paragraph (a) is made in respect of the joint appointment of an Agent Member for the purposes of this agreement, the Appointing Members for that Agent Member are taken to have given their consent to the change. (e) An application under paragraph (a) to include an additional person as an Appointing Member for the Agent Member must be accompanied by the Membership Agreement executed by the proposed new Appointing Member. (f) If the Operator is satisfied that the application is in order, then the Operator must accept the application and take the necessary steps to implement the change under this agreement. (g) A Member who is removed as an Appointing Member for an Agent Member: (i) may request the termination of its Membership Agreement; (ii) for so long as it continues as a Member: (A) must comply with all the obligations applicable to it as a Member including the appointment of representatives under clause 5.3; and (B) is automatically suspended from access to and use of the Trading System until the Operator gives the Member the confirmation referred to in clause 6.1(b).

Changes to the Appointing Members. (a) An Agent Member may from time to time on application to the Operator containing the information specified by the Operator: (i) include an additional person as an Appointing Member for the Agent Member; or (ii) remove a Member as an Appointing Member for the Agent Member. . (ba1) If the Agent Member is also an Agent Participant under an Auction Agreement and an application is made under paragraph (a), a corresponding application must also be made under the Auction Agreement. (cb) Any application under paragraph (a) to include an additional person as an Appointing Member must be accompanied by information in a form satisfactory to the Operator evidencing that the person has appointed the proposed Agent Member to act as its agent for the purposes of this agreement (and if the Agent Participant is also an Auction Participant under an Auction Agreement, the Auction Agreement) and that Agent Member has accepted that appointment. (dc) If an application under paragraph (a) is made in respect of the joint appointment of an Agent Member for the purposes of this agreement, the Appointing Members for that Agent Member are taken to have given their consent to the change. (ed) An application under paragraph (a) to include an additional person as an Appointing Member for the Agent Member must be accompanied by the Membership Agreement executed by the proposed new Appointing Member. (fe) If the Operator is satisfied that the application is in order, then the Operator must accept the application and take the necessary steps to implement the change under this agreement. (gf) A Member who is removed as an Appointing Member for an Agent Member: (i) may request the termination of its Membership Agreement; (ii) for so long as it continues as a Member: (A) must comply with all the obligations applicable to it as a Member including the appointment of representatives under clause 5.3; and (B) is automatically suspended from access to and use of the Trading System until the Operator gives the Member the confirmation referred to in clause 6.1(b).