Common use of LICENSEE'S WARRANTIES AND REPRESENTATIONS Clause in Contracts

LICENSEE'S WARRANTIES AND REPRESENTATIONS. The Licensee warrants and represents to OpenMarkets at the time it notifies OpenMarkets of an instruction from the Client for OpenMarkets to submit an Exercise Notice to ASX Clear, or, if the Client is the writer of a Derivatives Contract, at the time an Exercise Notice is allocated by ASX Clear to an ASX Clear Client Account of OpenMarkets that relates to a Client of the Licensee, that: (a) where the Client is the taker of a Call Option or the writer of a Put Option, the Client will pay to OpenMarkets the Exercise Value (as defined in the ASX Clear Rules) or the Settlement Amount (as defined in the ASX Clear Rules) (as the case may be) in respect of that Derivatives Contract by the due date stated on the relevant Confirmation; (b) where the Client is the writer of a Call Option or the taker of a Put Option (in each case not being a Derivatives Contract over an Underlying Index), the Client will provide OpenMarkets with the number of the Underlying Financial Products the subject of that Derivatives Contract on or before the due date stated on the relevant Confirmation;