Common use of TRANSFER OF DORMANT ACCOUNT BALANCES TO THE RECLAIM FUND BY THE PARTICIPANT Clause in Contracts

TRANSFER OF DORMANT ACCOUNT BALANCES TO THE RECLAIM FUND BY THE PARTICIPANT. 1.1 The Participant may from time to time transfer Dormant Account Balances to the Reclaim Fund during the Initial Term and any Renewal Periods; any such transfer to be upon the terms and subject to the conditions set out in this agreement. 1.2 In the event that the Participant wishes to transfer Dormant Account Balances to the Reclaim Fund, to the extent that the transfer relates to: (a) Category 1 Accounts, clauses 1.3 and 1.4 shall apply; and (b) Category 2 Accounts or Category 3 Accounts (together Specified Accounts), clause 1.6 shall instead apply. 1.3 Subject to clauses 17.2 and 17.4, by making payment to the Reclaim Fund for the purposes of this clause 1, the Participant represents and warrants to the Reclaim Fund in relation to each such payment that the amount paid to the Reclaim Fund: (a) comprises only amounts in respect of Dormant Account Balances and does not include any Specified Account Balances; and (b) has been calculated correctly by the Participant in respect of each Dormant Account Balance (in particular with respect to all appropriate adjustments to be made up to and including the relevant Transfer Date and any Transferred Accruing Interest) and includes all Accrued Interest. 1.4 Subject to clauses 1.8 and 3.1, the Reclaim Fund hereby consents for the purposes of section 1(1)(b) of the Act to the transfer by the Participant to the Reclaim Fund of Dormant Account Balances on the basis of the Participant's representations and warranties set out in clause 1.3 and such Dormant Account Balances shall be treated as having transferred to the Reclaim Fund for the purposes of section 1(1)(a) of the Act upon receipt by the Reclaim Fund of cleared funds representing such amount. 1.5 Not later than two (2) clear Business Days prior to each Transfer Date (as determined in accordance with clause 1 of Part A of this agreement), the Participant shall provide to the Reclaim Fund a duly signed and completed Transfer Notice confirming its intention to transfer Dormant Account Balances to the Reclaim Fund on such date. 1.6 The Participant may transfer Specified Account Balances (Category 2 Accounts or Category 3 Accounts) to the Reclaim Fund but only with the prior consent in writing of the Reclaim Fund to accept such transfer for the purposes of section 1(1)(b) of the Act. The Participant acknowledges and agrees that any consent of the Reclaim Fund for this purpose will be given upon such terms and subject to such conditions as the Reclaim Fund considers to be reasonably necessary or appropriate in the circumstances and will include a requirement for the Participant to submit to the Reclaim Fund a Specified Account Balance Certificate in a form approved by the Reclaim Fund for the purposes of the relevant transfer in accordance with the following procedure: (a) the Participant shall submit to the Reclaim Fund a duly signed and completed Specified Account Balance Certificate not later than thirty (30) Business Days prior to the relevant proposed Transfer Date (or such later date as the Reclaim Fund may accept) specifying a proposed Transfer Date; (b) within fifteen (15) Business Days following the receipt by the Reclaim Fund of the Specified Account Balance Certificate as referred to in (a) above, the Reclaim Fund will confirm to the Participant in writing the basis on which it will consent to the proposed transfer (or in the event that it does not consent to the transfer, that this is the case); (c) if the basis on which the Reclaim Fund will give its consent to the proposed transfer as confirmed by the Reclaim Fund under (b) above is acceptable to the Participant, the Participant shall: (i) submit to the Reclaim Fund a Transfer Notice in accordance with clause 1.5 not later than two (2) clear Business Days prior to the relevant Transfer Date (receipt of which by the Reclaim Fund shall constitute the binding agreement of the Participant to the terms on which the Reclaim Fund has consented to the relevant Specified Account Balance Certificate and the binding agreement of the Reclaim Fund to accept a transfer on such terms); and (ii) transfer the Specified Account Balances on the Transfer Date specified in the Transfer Notice or such later date as may be specified by the Reclaim Fund in giving its consent; (d) subject to (b) and (c) above and to clause 3.1, the relevant Specified Account Balance shall be treated as having transferred to the Reclaim Fund for the purpose of section 1(1)(a) of the Act upon receipt by the Reclaim Fund of cleared funds representing such amount; and (e) by making payment to the Reclaim Fund in accordance with this clause 1.6, the Participant covenants and undertakes to the Reclaim Fund as set out in paragraphs 1 to 5 of the Specified Account Balance Certificate in the form set out in Schedule 4A (and such covenants and undertakings may not be amended without the prior agreement in writing of the Participant). 1.7 The Participant covenants and undertakes to the Reclaim Fund to: (a) include with all transfers to the Reclaim Fund under this clause 1 all relevant Accrued Interest and any interest that is to be transferred as Transferred Accruing Interest; and (b) in the case of Category 1 Accounts, deduct from any amounts in respect of which the Participant seeks reimbursement from the Reclaim Fund under clause 2 the amount of any Non-Transferred Accruing Interest relating to the relevant Transferred Dormant Account Balances. 1.8 Unless otherwise agreed in writing between the Reclaim Fund and the Participant in relation to a specific payment, the Participant shall transfer Dormant Account Balances to the Reclaim Fund only on a Transfer Date (and the Reclaim Fund's consent under clause 1.4 or in accordance with clause 1.6 is given on the basis of receipt of such Dormant Account Balances on a Transfer Date). 1.9 Following receipt by the Reclaim Fund of each payment under this clause 1, the Reclaim Fund shall, as soon as reasonably practicable, confirm to the Participant by electronic communication the amount that it has received based on the Reclaim Fund's records, such confirmation to be given on the date of receipt or the next Business Day (subject to clause 20.2). 1.10 In the absence of agreement in writing between the Reclaim Fund and the Participant to the contrary citing this clause 1.10, nothing shall be deemed or implied from the Reclaim Fund's conduct or otherwise as constituting the consent of the Reclaim Fund to accept a transfer for the purposes of section 1(1)(b) of the Act on a basis other than as described in clause 1.4 or

TRANSFER OF DORMANT ACCOUNT BALANCES TO THE RECLAIM FUND BY THE PARTICIPANT. 1.1 The Participant may from time to time transfer Dormant Account Balances to the Reclaim Fund during the Initial Term and any Renewal Periods; any such transfer to be upon the terms and subject to the conditions set out in this agreement. 1.2 In the event that the Participant wishes to transfer Dormant Account Balances to the Reclaim Fund, to the extent that the transfer relates to: (a) Category 1 Accounts, clauses 1.3 and 1.4 shall apply; and (b) Category 2 Accounts or Category 3 Accounts (together Specified Accounts), clause 1.6 shall instead apply. 1.3 Subject to clauses 17.2 and 17.4, by making payment to the Reclaim Fund for the purposes of this clause 1, the Participant represents and warrants to the Reclaim Fund in relation to each such payment that the amount paid to the Reclaim Fund: (a) comprises only amounts in respect of Dormant Account Balances and does not include any Specified Account Balances; and (b) has been calculated correctly by the Participant in respect of each Dormant Account Balance (in particular with respect to all appropriate adjustments to be made up to and including the relevant Transfer Date and any Transferred Accruing Interest) and includes all Accrued Interest. 1.4 Subject to clauses 1.8 and 3.1, the Reclaim Fund hereby consents for the purposes of section 1(1)(b) of the Act to the transfer by the Participant to the Reclaim Fund of Dormant Account Balances on the basis of the Participant's representations and warranties set out in clause 1.3 and such Dormant Account Balances shall be treated as having transferred to the Reclaim Fund for the purposes of section 1(1)(a) of the Act upon receipt by the Reclaim Fund of cleared funds representing such amount. 1.5 Not later than two (2) clear Business Days prior to each Transfer Date (as determined in accordance with clause 1 of Part A of this agreement), the Participant shall provide to the Reclaim Fund a duly signed and completed Transfer Notice confirming its intention to transfer Dormant Account Balances to the Reclaim Fund on such date. 1.6 The Participant may transfer Specified Account Balances (Category 2 Accounts or Category 3 Accounts) to the Reclaim Fund but only with the prior consent in writing of the Reclaim Fund to accept such transfer for the purposes of section 1(1)(b) of the Act. The Participant acknowledges and agrees that any consent of the Reclaim Fund for this purpose will be given upon such terms and subject to such conditions as the Reclaim Fund considers to be reasonably necessary or appropriate in the circumstances and will include a requirement for the Participant to submit to the Reclaim Fund a Specified Account Balance Certificate in a form approved by the Reclaim Fund for the purposes of the relevant transfer in accordance with the following procedure: (a) the Participant shall submit to the Reclaim Fund a duly signed and completed Specified Account Balance Certificate not later than thirty (30) Business Days prior to the relevant proposed Transfer Date (or such later date as the Reclaim Fund may accept) specifying a proposed Transfer Date; (b) within fifteen (15) Business Days following the receipt by the Reclaim Fund of the Specified Account Balance Certificate as referred to in (a) above, the Reclaim Fund will confirm to the Participant in writing the basis on which it will consent to the proposed transfer (or in the event that it does not consent to the transfer, that this is the case); (c) if the basis on which the Reclaim Fund will give its consent to the proposed transfer as confirmed by the Reclaim Fund under (b) above is acceptable to the Participant, the Participant shall: (i) submit to the Reclaim Fund a Transfer Notice in accordance with clause 1.5 not later than two (2) clear Business Days prior to the relevant Transfer Date (receipt of which by the Reclaim Fund shall constitute the binding agreement of the Participant to the terms on which the Reclaim Fund has consented to the relevant Specified Account Balance Certificate and the binding agreement of the Reclaim Fund to accept a transfer on such terms); and (ii) transfer the Specified Account Balances on the Transfer Date specified in the Transfer Notice or such later date as may be specified by the Reclaim Fund in giving its consent; (d) subject to (b) and (c) above and to clause 3.1, the relevant Specified Account Balance shall be treated as having transferred to the Reclaim Fund for the purpose of section 1(1)(a) of the Act upon receipt by the Reclaim Fund of cleared funds representing such amount; and (e) by making payment to the Reclaim Fund in accordance with this clause 1.6, the Participant covenants and undertakes to the Reclaim Fund as set out in paragraphs 1 to 5 of the Specified Account Balance Certificate in the form set out in Schedule 4A (and such covenants and undertakings may not be amended without the prior agreement in writing of the Participant). 1.7 The Participant covenants and undertakes to the Reclaim Fund to: (a) include with all transfers to the Reclaim Fund under this clause 1 all relevant Accrued Interest and any interest that is to be transferred as Transferred Accruing Interest; and (b) in the case of Category 1 Accounts, deduct from any amounts in respect of which the Participant seeks reimbursement from the Reclaim Fund under clause 2 the amount of any Non-Transferred Accruing Interest relating to the relevant Transferred Dormant Account Balances. 1.8 Unless otherwise agreed in writing between the Reclaim Fund and the Participant in relation to a specific payment, the Participant shall transfer Dormant Account Balances to the Reclaim Fund only on a Transfer Date (and the Reclaim Fund's consent under clause 1.4 or in accordance with clause 1.6 is given on the basis of receipt of such Dormant Account Balances on a Transfer Date). 1.9 Following receipt by the Reclaim Fund of each payment under this clause 1, the Reclaim Fund shall, as soon as reasonably practicable, confirm to the Participant by electronic communication the amount that it has received based on the Reclaim Fund's records, such confirmation to be given on the date of receipt or the next Business Day (subject to clause 20.2). 1.10 In the absence of agreement in writing between the Reclaim Fund and the Participant to the contrary citing this clause 1.10, nothing shall be deemed or implied from the Reclaim Fund's conduct or otherwise as constituting the consent of the Reclaim Fund to accept a transfer for the purposes of section 1(1)(b) of the Act on a basis other than as described in clause 1.4 orprior