Common use of CONTROLLING PROVISIONS; CONDITION PRECEDENT Clause in Contracts

CONTROLLING PROVISIONS; CONDITION PRECEDENT. (a) All of the terms and conditions contained in the Membership application process, as well as in the xxxxxx.xxx | Derivatives North America Rules, shall regulate all exchange trading activities of a Market Maker unless otherwise provided for in this Agreement, in which case this Agreement shall be controlling. (b) For avoidance of doubt, Market Maker may not function as a Market Maker under this Agreement unless Market Maker is a Member of xxxxxx.xxx | Derivatives North America, and notwithstanding any other provision of this Agreement, Market Maker being a Member shall be a condition precedent to the effectiveness of this Agreement. (c) Market Maker and xxxxxx.xxx | Derivatives North America shall agree to the specific Classes, as identified in Appendix A to this Agreement, for which Market Maker will be obligated to provide liquidity (“Designated Classes”).