(vii) which is required in the preparation of the offering circular or other offering document or in the distribution of the Debentures.
(d) The Client further expressly consents to each Lead Manager, its officers and agents disclosing information relating to it and its account(s) and/or dealing relationship(s) with such Lead Manager, including but not limited to details of its facilities, any security taken, transactions undertaken and balances and positions with such Lead Manager, to
(i) the head office of such Lead Manager, any of its subsidiaries or subsidiaries of its holding company, affiliates, representative and branch offices in any jurisdiction (the “Permitted Parties”);
(ii) the agents and independent contractors of the Permitted Parties who are under a duty of confidentiality to the Permitted Parties;
(iii) any actual or potential participant or sub-participant in relation to any of the Lead Managers’ rights and/or obligations under any agreement between the Client and the Joint Lead Managers, or assignee, novatee or transferee (or any agent or advisor of any of the foregoing);
(iv) any rating agency, insurer or insurance broker of, or direct or indirect provider of credit protection to any Permitted Party; and
(v) any court or tribunal or regulatory, supervisory, governmental or quasi-governmental authority with jurisdiction over the Permitted Parties (if required).
In case of (i), (ii), (iii) and (iv), each Lead Manager shall undertake to procure that each such persons who receive confidential information keep the same in confidence in accordance with the terms of this Agreement.
In case of (v), each Lead Manager shall promptly give the Client a notice with full details of the circumstances of such disclosure.
(e) At the consummation of the Transaction, each Lead Manager has the right, at its own expense, to disclose its participation in the Transaction, including, without limitation, the placement of “tombstone” advertisements in financial and other newspapers and journals with all contents of which shall be reviewed and approved by the Client.
6. CONFLICTS OF INTEREST
(a) The Client understands that each Lead Manager is part of its respective Group, which is an active participant in the finance industry and provides a broad range of financial services. Investment-related activities carried on KTB and ASP and other members of their respective Groups include corporate finance (including new issues, mergers and acquisitions), banking and structured finance, sales and trading of securities, and debt (including derivatives) and related research; custodial services, property management, asset management, development capital and related activities. The Client acknowledges that in the ordinary course of business each Lead Manager and/or members of their respective Groups may at any time (i) hold long or short positions, and trade or otherwise effect transactions, for the account of any entity within such Group or for the accounts of customers, in debt or equity securities of the Client or any other company that may be involved in the Transaction and (ii) come to be involved in a variety of transactions and services with clients having interests in conflict with those of the Client.
(b) A Lead Manager, another member of its respective Group or some other person connected with such Lead Manager may have an interest, relationship or arrangement that is material to or may conflict with the obligations of such Lead Manager under this Agreement. Neither Lead Manager nor any other member of its respective Group shall be required to disclose such transactions to the Client or to account for or disclose any profit, charge, commission or other remuneration arising in respect of such transactions.
(c) Each Lead Manager and each other member of its respective Group may continue to pursue its and their business interests and activities without specific prior disclosure to the Client, should it not adversely affect the Client. Nothing in this Agreement shall prevent any Lead Manager or any other member of its respective Group from pursuing any existing or future interests, either its or their own or of its or their clients.
Notwithstanding the above, each Lead Manager shall ensure that (i) its actions undertaken in connection with sub-clauses (a), (b) and (c) shall not cause an adverse affect to the Client and (ii) their Chinese Wall procedures have been duly implemented in respect of such actions.
7. INDEPENDENT CONTRACTORS
The Joint Lead Managers, as independent contractors performing the Services, shall not assume a fiduciary or trustee relationship with the Client or its shareholders, and nothing in the arrangements contemplated in this Agreement does or will constitute a partnership or agency. Any duties arising out of this Agreement and/or the Transaction shall be owed solely to and between the Client and each Lead Manager. The rights and obligations which the Client may have to the Joint Lead Managers or their affiliates under any credit or other agreement are separate from the Client’s rights and obligations, and will not be affected by the Joint Lead Managers’ obligations under this Agreement.
8. ANNOUNCEMENTS
Each party undertakes that:
(a) all announcements and documents published or statements made by it or on its behalf in the course of and in respect of or which may directly or indirectly affect the issue of the Debentures will be made in compliance with all relevant laws and regulations in any relevant jurisdiction including relevant selling restrictions relating to the Debentures, will contain all information necessary to achieve such compliance (including such information as is required by the rules of the stock exchange (if any) upon which the Debentures have been or are to be listed), will be true and accurate in all material respects and not misleading, and will only be published or made after consultation with all parties;
(b) any major strategic announcements published or made by it will be published or made in compliance with all relevant laws and regulations in any relevant jurisdiction including relevant selling restrictions relating to the Debentures, and will not be published or made without the prior consent of all parties (such consent not to be unreasonably withheld) save as required by law; and
(c) it will not refer to the name of any parties or any other member of its respective Group in any report, document, press release, public statement, prospectus or other communication without the prior written consent of such parties (which may be reasonably withheld in the discretion of each party).
9. INDEMNITY AND RELEASE
(a) The Client undertakes to each Lead Manager that if that Lead Manager or any member of its respective Group or any of its or their respective directors, officers, employees or agents (together, the “Indemnified Persons” and each, an “Indemnified Person”) incurs any reasonable liability, damages, cost, loss or expense (including, without limitation, legal fees, costs and expenses determined by the court of competent jurisdiction) (a “Loss”) which relates to or arises directly or indirectly from the engagement of this Agreement, the Client shall pay to that Lead Manager in full on demand an amount equal to such reasonable Loss.
(b) Lead Manager shall have no duty or obligation, whether as fiduciary or trustee for any Indemnified Person or otherwise, to recover any such payment or to account to any other person for any amounts paid to it under this Clause.
(c) The Client shall not be liable under paragraph (a) above to any Lead Manager for any Loss finally judicially determined by a court of competent jurisdiction to have resulted primarily from such Lead Manager’s wilful default or gross negligence.
(d) Lead Manager will have no liability in respect of any services or advice provided to the Client by any third party.
(e) Lead Manager will not be liable (whether directly or indirectly, in contract or tort or otherwise) to the Client or its holding companies, branches, subsidiaries or any subsidiaries of any such holding companies and agents for or in connection with the engagement of the Joint Lead Managers except to the extent that such liability arises primarily from the wilful default or gross negligence of the Joint Lead Managers, finally judicially determined by a court of competent jurisdiction.
(f) Each of the indemnities in this Clause extends to the maximum extent permitted by law and are in addition to any rights that any Indemnified Person may have at common law or otherwise (including, but not limited to, any right to contribution).
10. TERMINATION AND SURVIVAL
Termination of this engagement is without prejudice to any legal rights or obligations that may already have arisen before the termination date. Clause 4 (Payment Terms), Clause 9 (Indemnity and Release), Clause 15 (Third Party Rights) and Clause 17 (Governing Law) of these Standard Terms will continue to apply notwithstanding termination of this Agreement. The obligations of confidentiality set out in Clause 5 (Confidentiality) of these Standard Terms will terminate upon the first anniversary of the date of this Agreement.
11. NO COMMITMENT
Where the Joint Lead Managers underwrite the Debentures or provide financing to the Client or any third party, the terms and conditions of such transactions would be subject to separate agreements between the Parties and/or such third party. This Agreement does not impose any obligation on any Lead Manager or any member of its respective Group to enter into any swap transaction with or to provide any financing to the Client or any other third party or to underwrite the Debentures.
12. COMPLIANCE
The Client will comply with, and will assist the Joint Lead Managers to comply with, all applicable laws and regulations and the requirements of the S.E.C., Thai Bond Market Association and any relevant stock e