✨ Legal Agreement Provisions
22 DECEMBER 2010 NEW ZEALAND GAZETTE, No. 177 4361
appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. 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 Transaction, it being understood that information and explanations related to the terms and conditions of a Transaction will not be considered investment advice or a recommendation to enter into that Transaction. No communication (written or oral) received from the other party will be deemed to be an assurance or guarantee as to the expected results of that Transaction.
(2) Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction.
(3) Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction.
(n) Recording of Conversations. Each party (i) consents to the recording of telephone conversations between the trading, marketing and other relevant personnel of the parties in connection with this Agreement or any potential Transaction, (ii) agrees to obtain any necessary consent of, and give any necessary notice of such recording to, its relevant personnel and (iii) agrees, to the extent permitted by applicable law, that recordings may be submitted in evidence in any Proceedings.
PART 5 OTHER PROVISIONS
1 Application
This Agreement is only intended to be used for Transactions in respect of:
(a) electricity price futures contracts (as defined in the Authorised Futures Dealers Notice 1997 (No 3), as amended or substituted from time to time ("Notice")); and
(b) any other class of electricity pricing contract that the parties are permitted, whether under the Securities Markets Act 1988 or under any other New Zealand law, to enter into, or can enter into without breaching any New Zealand law,
and shall not be used in any other circumstance.
2 General Amendments to Master Agreement
(1) In Section 2(a)(i), a new sentence is inserted as follows:
Each payment will be by way of exchange for the corresponding payment or payments payable by the other party.
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NZ Gazette 2010, No 177
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Agreement Clauses and Definitions
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🏭 Trade, Customs & IndustryLegal Agreement, Clauses, Definitions, Transaction Terms, Risk Assumption, Recording of Conversations