Common use of Withdrawal of BEE Verification Status Clause in Contracts

Withdrawal of BEE Verification Status. ‌ 8.1 In the event that:‌ 8.1.1 MTNZF and/or MTN determines that You (i) have ceased to be an Eligible Shareholder (as contemplated under the Relationship Agreement) or (ii) no longer constitute a Verified Shareholder (as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions), for whatsoever reason; 8.1.2 Your BEE Verification status has expired; or 8.1.3 You are in breach of the Relationship Agreement and/or the MTNZF MOI, then MTNZF and/or MTN shall be entitled to withdraw your status as an Eligible Shareholder or Verified Shareholder (as applicable) on written notice to the BEE Verification Agent. The BEE Verification Agent shall thereupon notify You and each of the Market Participants in writing in accordance with the provisions of clause 20 of such withdrawal or expiry of your status as an Eligible Shareholder or Verified Shareholder (as applicable) ("BEE Verification Withdrawal Notice"). 8.2 Notwithstanding anything to the contrary in this Contract: 8.2.1 You acknowledge and agree that, upon delivery of a BEE Verification Withdrawal Notice, You shall not be entitled to purchase and/or hold any additional MTNZF Shares, and You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.2.2 each Market Participant acknowledges and agrees that, upon delivery of a BEE Verification Withdrawal Notice, no additional purchase or transfer of MTNZF Shares may be effected to You or registered in Your name (whether directly or indirectly), and that You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.3 Without derogating from the provisions of clause 8.1 and for the avoidance of doubt, You hereby acknowledge and agree that MTNZF and/or MTN shall be entitled to withdraw Your BEE Verification status at any time as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions.

Withdrawal of BEE Verification Status. ‌ 8.1 7.1 In the event that:‌that: 8.1.1 MTNZF 7.1.1 MTN Zakhele and/or MTN determines that You (i) have ceased to be an Eligible Shareholder (as contemplated under the Relationship Agreement) or (ii) no longer constitute a Verified Shareholder (as contemplated under the MTNZF MTN Zakhele Independent Trading Process Verification Terms and Conditions), for whatsoever reason;; or 8.1.2 Your 7.1.2 your BEE Verification status has expired; or 8.1.3 You are in breach of the Relationship Agreement and/or the MTNZF MOI, then MTNZF MTN Zakhele and/or MTN shall be entitled to withdraw your status as an Eligible Shareholder or Verified Shareholder (as applicable) on written notice to the BEE Verification Agent. The BEE Verification Agent shall thereupon notify You and each of the Market Participants in writing in accordance with the provisions of clause 20 19 of such withdrawal or expiry of your status as an Eligible Shareholder or Verified Shareholder (as applicable) ("BEE Verification Withdrawal Notice"). 8.2 7.2 Notwithstanding anything to the contrary in this MTN Zakhele BEE Contract: 8.2.1 7.2.1 You acknowledge and agree that, upon delivery of a BEE Verification Withdrawal Notice, You shall not be entitled to purchase and/or hold any additional MTNZF Shares, and You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 1514) in respect of all or some of Your MTNZF Shares. 8.2.2 7.2.2 each Market Participant acknowledges and agrees that, upon delivery of a BEE Verification Withdrawal Notice, no additional purchase or transfer of MTNZF Shares may be effected to You or registered in Your name (whether directly or indirectly), and that You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 1514) in respect of all or some of Your MTNZF Shares. 8.3 Without derogating from the provisions of clause 8.1 and for the avoidance of doubt, You hereby acknowledge and agree that MTNZF and/or MTN shall be entitled to withdraw Your BEE Verification status at any time as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions.

Withdrawal of BEE Verification Status. ‌11.1 Withdrawal of BEE Verification status because of a dispute or illegal activity 8.1 In 11.1.1 if we reasonably believe that your wish to participate in the event that:‌Facilitated Trading Process for illegal purposes, including money laundering or fraud; 8.1.1 11.1.2 if there is a disagreement between who owns or has authority to transfer the MTNZF Shares; or 11.1.3 if you are a Black Group, if there is disagreement about whether the Authorised Representative is still authorised to represent you. 11.2 Notice before we withdraw your BEE Verification status because of a dispute or illegal activity 11.2.1 you are the owner of the MTNZF Shares; 11.2.2 you are not using the Facilitated Trading Process for illegal purposes; or 11.2.3 your Authorised Representative is still authorised to represent you, or that a new Authorised Representative has been appointed. See paragraph 6.2 (Appointing and changing an Authorised Representative) contained in Section B (How to Complete the BEE Verification Process), for information about changes to your Authorised Representative. 11.2.4 If you do not prove the facts above within 10 Business Days, we will withdraw your BEE Verification status until you give us the proof we need. 11.3 Withdrawal of BEE Verification status because of expiry of BEE Status 11.3.1 A Black Group's BEE Status (proof that you qualify as a Black Group in terms of a BEE Ownership Certificate or BEE Ownership Document) expires on the earlier of: 11.3.1.1 the date set out on the BEE Ownership Certificate or BEE Ownership Document; or 11.3.1.2 every 12 months from the date the BEE Ownership Certificate or BEE Ownership Document was issued. 11.3.2 The Service Provider (in its capacity as BEE Verification Agent) will notify you three months and then again one month before this happens by SMS and/or email, and remind you that you need to update our information about your BEE Status. This is so that we have evidence that you still qualify as a Black Group. 11.3.3 The Service Provider (in its capacity as BEE Verification Agent) will tell you what Supporting Documents you need to give us to update our information about your BEE Status. You will need to give the Service Provider (in its capacity as BEE Verification Agent) this information at least five Business Days before the end of the three month period so that we will have enough time to update our information about your BEE Status. 11.3.4 If you do not give us the information we reasonably request so that we have evidence that you still qualify as a Black Group, we will withdraw your BEE Verification status. This will apply until we receive the information and have updated our records about your BEE Status. It may take a few days to update our records. 11.4 Other reasons for withdrawal of BEE Verification status or suspension 11.4.1 We may withdraw your BEE Verification status in any one or more of these circumstances: 11.4.1.1 we become aware of any actual, threatened or suspected fraud; 11.4.1.2 you do not comply with these Verification Terms and Conditions even after we have given you 10 Business Days’ notice to do so or to fix it (or a shorter period where this is reasonable); 11.4.1.3 we or MTN determines that You you: (i) have ceased to be an Eligible Shareholder (as contemplated under the Relationship Agreement) Shareholder; or (ii) no longer constitute a Verified Shareholder (as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions)Shareholder, for whatsoever reason; 8.1.2 Your BEE Verification status has expired; or 8.1.3 You 11.4.1.4 you are in breach of the Relationship Agreement and/or the MTNZF MOI, then MTNZF and/or MTN shall be entitled to withdraw your status as an Eligible Shareholder or Verified Shareholder (as applicable) on written notice to the BEE Verification Agent; 11.4.1. The BEE Verification Agent shall thereupon notify You and each of the Market Participants in writing in accordance 5 you do not comply with the provisions of clause 20 of such withdrawal or expiry of your status as an Eligible Shareholder or Verified Shareholder (as applicable) ("BEE Verification Withdrawal Notice"). 8.2 Notwithstanding anything to the contrary in this Contract: 8.2.1 You acknowledge and agree that, upon delivery of a BEE Verification Withdrawal Notice, You shall not be entitled to purchase and/or hold any additional MTNZF Shares, and You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.2.2 each Market Participant acknowledges and agrees that, upon delivery of a BEE Verification Withdrawal Notice, no additional purchase or transfer of MTNZF Shares may be effected to You or registered in Your name (whether directly or indirectly), and that You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.3 Without derogating from the provisions of clause 8.1 and for the avoidance of doubt, You hereby acknowledge and agree that MTNZF and/or MTN shall be entitled to withdraw Your BEE Verification status at any time as contemplated under the MTNZF Independent Trading Process these Verification Terms and Conditions.Conditions and it is reasonable not to first give you notice to do so or to fix it;

Withdrawal of BEE Verification Status. ‌ 8.1 In the event that:‌that: 8.1.1 MTNZF and/or MTN determines that You (i) have ceased to be an Eligible Shareholder (as contemplated under the Relationship Agreement) or (ii) no longer constitute a Verified Shareholder (as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions), for whatsoever reason; 8.1.2 Your BEE Verification status has expired; or 8.1.3 You are in breach of the Relationship Agreement and/or the MTNZF MOI, then MTNZF and/or MTN shall be entitled to withdraw your status as an Eligible Shareholder or Verified Shareholder (as applicable) on written notice to the BEE Verification Agent. The BEE Verification Agent shall thereupon notify You and each of the Market Participants in writing in accordance with the provisions of clause 20 of such withdrawal or expiry of your status as an Eligible Shareholder or Verified Shareholder (as applicable) ("BEE Verification Withdrawal Notice"). 8.2 Notwithstanding anything to the contrary in this Contract: 8.2.1 You acknowledge and agree that, upon delivery of a BEE Verification Withdrawal Notice, You shall not be entitled to purchase and/or hold any additional MTNZF Shares, and You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.2.2 each Market Participant acknowledges and agrees that, upon delivery of a BEE Verification Withdrawal Notice, no additional purchase or transfer of MTNZF Shares may be effected to You or registered in Your name (whether directly or indirectly), and that You may be subject to the occurrence of a Call Event and the issue of a Call Option Notice (as contemplated under clause 15) in respect of all or some of Your MTNZF Shares. 8.3 Without derogating from the provisions of clause 8.1 and for the avoidance of doubt, You hereby acknowledge and agree that MTNZF and/or MTN shall be entitled to withdraw Your BEE Verification status at any time as contemplated under the MTNZF Independent Trading Process Verification Terms and Conditions.