Common use of Further Warranties Clause in Contracts

Further Warranties. 13.1 Each Member/Issuer hereby represents, warrants and undertakes to the Exchange that: 13.1.1 it is not a U.S. Person; 13.1.2 such Member/Issuer is purchasing Security Tokens and/or Digital Payment Tokens with funds which are from legitimate sources and which do not constitute the proceeds of criminal conduct, or realisable property, or the proceeds of terrorism financing or property of terrorists, within the meaning given in the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A of Singapore and the Terrorism (Suppression of Financing) Act, Chapter 325 of Singapore, respectively (or any other equivalent law in a jurisdiction outside Singapore) and which are not derived from or related to any unlawful activities. Such Member/Issuer further undertakes not to use the Security Tokens and/or Digital Payment Tokens to finance, engage in, or otherwise support any unlawful activities; 13.1.3 such Member/Issuer’s purchase, ownership, receipt and/or possession of the Security Tokens and/or Digital Payment Tokens complies with (and is not in breach of) any applicable law, including: (i) legal capacity and any other threshold requirements in such Member/Issuer’s jurisdiction for such purchase, ownership, receipt and/or possession; (ii) any foreign exchange or regulatory restrictions applicable to such purchase, ownership, receipt and/or possession; and (iii) any governmental or other consents that may need to be obtained; 13.1.4 such Member/Issuer is not a citizen or resident, or a company or other legal entity incorporated in a geographic area, in which the purchase, ownership, receipt or possession of the Security Tokens and/or Digital Payment Tokens (including the receipt of any rights and benefits, and the undertaking of any obligations and liabilities, in connection with the Security Tokens and/or Digital Payment Tokens) is prohibited by any applicable law; and 13.1.5 such Member/Issuer will comply with any applicable tax obligations (including in such Member/Issuer’s jurisdiction) arising from his purchase, ownership, receipt and/or possession of the Security Tokens and/or Digital Payment Tokens.