Common use of USE OF CORRESPONDENTS Clause in Contracts

USE OF CORRESPONDENTS. a. The Client hereby authorizes ENBD Capital KSA in ENBD Capital KSA’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's Investments and the Account. The Client hereby acknowledges that ENBD Capital KSA is not acting as an agent of any Correspondent. b. The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. The Client acknowledges and agrees that any right ENBD Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. The Client acknowledges and agrees that ENBD Capital KSA may change Correspondents from time to time in ENBD Capital KSA’s sole discretion without prior notice to the Client. e. The Client hereby authorizes ENBD Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSA) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's orders and instructions may open accounts in the Client's name directly, maintain the records of the Client's accounts and may hold the Client's Investments, in whole or in part, in the Correspondent's name. g. The names and addresses of Correspondents and the nature of ENBD Capital KSA's relationship with such Correspondents may be disclosed to the Client as ENBD Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's relation with such Correspondent, the Client may notify ENBD Capital KSA in writing of his objections no later than fifteen (15) calendar days from receipt of such disclosure from ENBD Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD Capital KSA until the period ending with the date on which the Client provided notice to ENBD Capital KSA referred to above. h. The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD Capital KSA (without liability on the part of ENBD Capital KSA), although (and without prejudice to clause 15.i below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSA, and not to any Correspondent. j. The Client agrees that neither ENBD Capital KSA, its Correspondents nor the issuer of any Securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities held in the Account unless the Client specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD Capital KSA in forwarding such notices and information to the Client. k. The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.

USE OF CORRESPONDENTS. a. 15.1 The Client hereby authorizes ENBD authorises NCB Capital KSA in ENBD Capital KSANCB Capital’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's Investments and the Account. The Client hereby acknowledges that ENBD NCB Capital KSA is not acting as an agent of any Correspondent. b. 15.2 The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. 15.3 The Client acknowledges and agrees that any right ENBD NCB Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. 15.4 The Client acknowledges and agrees that ENBD NCB Capital KSA may change Correspondents from time to time in ENBD Capital KSANCB Capital’s sole discretion without prior notice to the Client. e. 15.5 The Client hereby authorizes ENBD authorises NCB Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSANCB Capital) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. 15.6 The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's orders and instructions may open accounts in the Client's name directly, maintain the records of the Client's accounts and may hold the Client's Investments, in whole or in part, in the Correspondent's name. g. 15.7 The names and addresses of Correspondents and the nature of ENBD Capital KSANCB Capital's relationship with such Correspondents may be disclosed to the Client as ENBD NCB Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's relation with such Correspondent, the Client may notify ENBD NCB Capital KSA in writing of his objections no later than fifteen (15) calendar days from receipt of such disclosure from ENBD NCB Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD NCB Capital KSA until the period ending with the date on which the Client provided notice to ENBD NCB Capital KSA referred to above. h. 15.8 The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD NCB Capital KSA (without liability on the part of ENBD Capital KSANCB Capital), although (and without prejudice to clause 15.i 15.9 below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD NCB Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. 15.9 The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSANCB Capital, and not to any Correspondent. j. 15.10 The Client agrees that neither ENBD Capital KSANCB Capital, its Correspondents nor the issuer of any Securities securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities Security held in the Account unless the Client specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD NCB Capital KSA in forwarding such notices and information to the Client. k. 15.11 The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.

USE OF CORRESPONDENTS. a. 15.1 The Client hereby authorizes ENBD authorises NCB Capital KSA in ENBD Capital KSANCB Capital’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's Investments and the Account. The Client hereby acknowledges that ENBD NCB Capital KSA is not acting as an agent of any Correspondent. b. 15.2 The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment Investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment Investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. 15.3 The Client acknowledges and agrees that any right ENBD NCB Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. 15.4 The Client acknowledges and agrees that ENBD NCB Capital KSA may change Correspondents from time to time in ENBD Capital KSANCB Capital’s sole discretion without prior notice to the Client. e. 15.5 The Client hereby authorizes ENBD authorises NCB Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSANCB Capital) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. 15.6 The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's orders and instructions may open accounts in the Client's name directly, maintain the records of the Client's accounts and may hold the Client's Investments, in whole or in part, in the Correspondent's name. g. 15.7 The names and addresses of Correspondents and the nature of ENBD Capital KSANCB Capital's relationship with such Correspondents may be disclosed to the Client as ENBD NCB Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's relation with such Correspondent, the Client may notify ENBD NCB Capital KSA in writing of his its objections no later than fifteen (15) calendar days from receipt of such disclosure from ENBD NCB Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD NCB Capital KSA until the period ending with the date on which the Client provided notice to ENBD NCB Capital KSA referred to above. h. 15.8 The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD NCB Capital KSA (without liability on the part of ENBD Capital KSANCB Capital), although (and without prejudice to clause 15.i 15.9 below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD NCB Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. 15.9 The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSANCB Capital, and not to any Correspondent. j. 15.10 The Client agrees that neither ENBD Capital KSANCB Capital, its Correspondents nor the issuer of any Securities securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities Security held in the Account unless the Client specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD NCB Capital KSA in forwarding such notices and information to the Client. k. 15.11 The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.

USE OF CORRESPONDENTS. a. 15.1 The Client hereby authorizes ENBD authorises NCB Capital KSA in ENBD Capital KSANCB Capital’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's ’s Investments and the Account. The Client hereby acknowledges that ENBD NCB Capital KSA is not acting as an agent of any Correspondent. b. 15.2 The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. 15.3 The Client acknowledges and agrees that any right ENBD NCB Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. 15.4 The Client acknowledges and agrees that ENBD NCB Capital KSA may change Correspondents from time to time in ENBD Capital KSANCB Capital’s sole discretion without prior notice to the Client. e. 15.5 The Client hereby authorizes ENBD authorises NCB Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSANCB Capital) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. 15.6 The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's ’s orders and instructions may open accounts in the Client's ’s name directly, maintain the records of the Client's ’s accounts and may hold the Client's ’s Investments, in whole or in part, in the Correspondent's ’s name. g. 15.7 The names and addresses of Correspondents and the nature of ENBD Capital KSA's NCB Capital’s relationship with such Correspondents may be disclosed to the Client as ENBD NCB Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's ’s relation with such Correspondent, the Client may notify ENBD NCB Capital KSA in writing of his objections no later than fifteen fifteen (15) calendar days from receipt of such disclosure from ENBD NCB Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD NCB Capital KSA until the period ending with the date on which the Client provided notice to ENBD NCB Capital KSA referred to above. h. 15.8 The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD NCB Capital KSA (without liability on the part of ENBD Capital KSANCB Capital), although (and without prejudice to clause 15.i 15.9 below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD NCB Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. 15.9 The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSANCB Capital, and not to any Correspondent. j. 15.10 The Client agrees that neither ENBD Capital KSANCB Capital, its Correspondents nor the issuer of any Securities securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities Security held in the Account unless the Client specifically specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD NCB Capital KSA in forwarding such notices and information to the Client. k. 15.11 The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.

USE OF CORRESPONDENTS. a. 15.1 The Client hereby authorizes ENBD authorises NCB Capital KSA in ENBD Capital KSANCB Capital’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's ’s Investments and the Account. The Client hereby acknowledges that ENBD NCB Capital KSA is not acting as an agent of any Correspondent. b. 15.2 The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment Investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment Investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. 15.3 The Client acknowledges and agrees that any right ENBD NCB Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. 15.4 The Client acknowledges and agrees that ENBD NCB Capital KSA may change Correspondents from time to time in ENBD Capital KSANCB Capital’s sole discretion without prior notice to the Client. e. 15.5 The Client hereby authorizes ENBD authorises NCB Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSANCB Capital) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. 15.6 The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's ’s orders and instructions may open accounts in the Client's ’s name directly, maintain the records of the Client's ’s accounts and may hold the Client's ’s Investments, in whole or in part, in the Correspondent's ’s name. g. 15.7 The names and addresses of Correspondents and the nature of ENBD Capital KSA's NCB Capital’s relationship with such Correspondents may be disclosed to the Client as ENBD NCB Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's ’s relation with such Correspondent, the Client may notify ENBD NCB Capital KSA in writing of his its objections no later than fifteen (15) calendar days from receipt of such disclosure from ENBD NCB Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD NCB Capital KSA until the period ending with the date on which the Client provided notice to ENBD NCB Capital KSA referred to above. h. 15.8 The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD NCB Capital KSA (without liability on the part of ENBD Capital KSANCB Capital), although (and without prejudice to clause 15.i 15.9 below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD NCB Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. 15.9 The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSANCB Capital, and not to any Correspondent. j. 15.10 The Client agrees that neither ENBD Capital KSANCB Capital, its Correspondents nor the issuer of any Securities securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities Security held in the Account unless the Client specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD NCB Capital KSA in forwarding such notices and information to the Client. k. 15.11 The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.

USE OF CORRESPONDENTS. a. 15.1 The Client hereby authorizes ENBD authorises SNB Capital KSA in ENBD Capital KSASNB Capital’s absolute discretion to retain from time to time in various jurisdictions, exchanges and markets, one or more Correspondents to provide services relating to the Client's Investments and the Account. The Client hereby acknowledges that ENBD SNB Capital KSA is not acting as an agent of any Correspondent. b. 15.2 The Client hereby acknowledges and agrees that Correspondents may act, among other things, as commercial bankers, investment Investment bankers, brokers, dealers, market makers, clearing agents, depositories, custodians, trustees, administrators, automatic data processing vendors, proxy processing agents, transfer agents, investment Investment pricing services, research houses, or otherwise for the purpose of servicing the Account, and that such persons may in turn at their absolute discretion elect to use the services of other third parties and/or their affiliates and correspondents in providing such services. c. 15.3 The Client acknowledges and agrees that any right ENBD SNB Capital KSA may have in relation to the Client (whether under this Agreement or otherwise) may be assigned to the Correspondent, without further notice to the Client. d. 15.4 The Client acknowledges and agrees that ENBD SNB Capital KSA may change Correspondents from time to time in ENBD Capital KSASNB Capital’s sole discretion without prior notice to the Client. e. 15.5 The Client hereby authorizes ENBD authorises SNB Capital KSA to disclose to the Correspondents information regarding the Client as may be required under any relevant laws, regulations or rules, or the regulations or rules of any applicable exchange (including without limitation to rule 382 of the New York Stock Exchange). The Client hereby agrees to provide a Correspondent (through ENBD Capital KSASNB Capital) with any information and/or statements in the prescribed form required by the rules and regulations of any applicable exchanges. f. 15.6 The Client hereby agrees that Correspondents acting in their capacity as the executing and clearing party or broker of the Client's orders and instructions may open accounts in the Client's name directly, maintain the records of the Client's accounts and may hold the Client's Investments, in whole or in part, in the Correspondent's name. g. 15.7 The names and addresses of Correspondents and the nature of ENBD Capital KSASNB Capital's relationship with such Correspondents may be disclosed to the Client as ENBD SNB Capital KSA deems necessary or as required by law. If the Client has any objections to any one or more of such Correspondents, or towards the nature of the Client's relation with such Correspondent, the Client may notify ENBD SNB Capital KSA in writing of his its objections no later than fifteen (15) calendar days from receipt of such disclosure from ENBD SNB Capital KSA to the Client provided that the Client will be bound by any transaction(s) conducted by the Client from the date of such a disclosure by ENBD SNB Capital KSA until the period ending with the date on which the Client provided notice to ENBD SNB Capital KSA referred to above. h. 15.8 The Client accepts that notices concerning the Account by Correspondents will usually be sent to the Client by ENBD SNB Capital KSA (without liability on the part of ENBD Capital KSASNB Capital), although (and without prejudice to clause 15.i 15.9 below) the Client acknowledges that such notices may be sent directly from a Correspondent to the Client with or without duplicate notice to ENBD SNB Capital KSA if market conditions, time constraints so require, or if the Correspondent determines in its sole discretion that other circumstances so require. i. 15.9 The Client agrees that all orders and instructions regarding the Account will at all times be directed only to ENBD Capital KSASNB Capital, and not to any Correspondent. j. 15.10 The Client agrees that neither ENBD Capital KSASNB Capital, its Correspondents nor the issuer of any Securities securities held in the Account will be required to forward to the Client any notice for the attendance or voting at any shareholder meetings, the appointment of proxies or any other report or information from the issuer with respect to any Securities Security held in the Account unless the Client specifically requests such notices in writing, in which case the Client agrees to pay all costs and expenses incurred by ENBD SNB Capital KSA in forwarding such notices and information to the Client. k. 15.11 The Client acknowledges that Correspondents may be located in jurisdictions other than the Kingdom of Saudi Arabia and therefore may not be subject to the laws, rules and/or regulations of the Kingdom of Saudi Arabia.