Common use of PARTIES TO RELY ON THEIR OWN EXPERTISE Clause in Contracts

PARTIES TO RELY ON THEIR OWN EXPERTISE. Each Party will be deemed to represent to the other Party on the date on which it enters into an FX Transaction or Option that (absent a written agreement between the Parties that expressly imposes affirmative obligations to the contrary for that FX Transaction or Option): (i)(A) it is acting for its own account, and it has made its own independent decisions to enter into that FX Transaction or Option and as to whether that FX Transaction or Option is appropriate or proper for it based upon its own judgment and upon advice from such advisors as it has deemed necessary; (B) it is not relying on any communication (written or oral) of the other Party as investment advice or as a recommendation to enter into that FX Transaction or Option, it being understood that information and explanations related to the terms and conditions of an FX Transaction or Option shall not be considered investment advice or a recommendation to enter into that FX Transaction or Option; and (C) it has not received from the other Party any assurance or guarantee as to the expected results of that FX Transaction or Option; (ii) it is capable of evaluating and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that FX Transaction or Option; and (iii) the other Party is not acting as a fiduciary or an advisor for it in respect of that FX Transaction or Option.

PARTIES TO RELY ON THEIR OWN EXPERTISE. Each Party will be deemed to represent to the other Party on the date on which it enters into an FX Transaction or Option that (absent a written agreement between the Parties that expressly imposes affirmative obligations to the contrary for that FX Transaction or Option): (i)(A) it is acting for its own account, and it has made its own independent decisions to enter into that FX Transaction or Option and as to whether that FX Transaction or Option is appropriate or proper for it based upon its own judgment and upon advice from such advisors as it has deemed necessary; , (B) it is not relying on any communication (written or oral) of the other Party as investment advice or as a recommendation to enter into that FX Transaction or Option, it being understood that information and explanations related to the terms and conditions of an FX Transaction or Option shall not be considered investment advice or a recommendation to enter into that FX Transaction or Option; and (C) it has not received from the other Party any assurance or guarantee as to the expected results of that FX Transaction or Option; (ii) it is capable of evaluating and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that mat FX Transaction or Option; and (iii) the other Party is not acting as a fiduciary or an advisor for it in respect of that FX Transaction or Option.

PARTIES TO RELY ON THEIR OWN EXPERTISE. Each Party will shall be deemed to represent to the other Party on the date on which it enters into an FX Transaction or Currency Option Transaction that (absent a written agreement between the Parties that expressly imposes affirmative obligations to the contrary for that FX Transaction or OptionCurrency Option Transaction): (i)(Aa)(i) it is acting for its own account, and it has made its own independent decisions to enter into that FX Transaction or Currency Option Transaction and as to whether that FX Transaction or Currency Option Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisors as it has deemed necessary; (Bii) it is not relying on any communication communi- cation (written or oral) of the other Party as investment advice or as a recommendation to enter into that FX Transaction or OptionCurrency Option Transaction, it being understood that information and explanations related to the terms and conditions of an FX Transaction or Currency Option Transaction shall not be considered investment advice or a recommendation recommen- dation to enter into that FX Transaction or OptionCurrency Option Transaction; and (Ciii) it has not received from the other Party any assurance or guarantee as to the expected results of that FX Transaction or Option; (ii) it is capable of evaluating and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that FX Transaction or Option; and (iii) the other Party is not acting as a fiduciary or an advisor for it in respect of that FX Transaction or Option.Currency Option Transaction;