Common use of A Third Party Clause in Contracts

A Third Party. Clearing Participant shall not be entitled to enter into any LCH EnClear Contract with LCH and ICE acknowledges and agrees that only LCH EnClear Clearing Members shall be entitled to enter into LCH EnClear Contracts with LCH in respect of LCH EnClear Transactions. In all dealings between LCH EnClear Clearing Members and LCH (including those originated by Third Party Clearing Participants) LCH EnClear Clearing Members shall act as principal and ICE shall make provision in the ICE Documentation that all contracts entered into between those of its Participants who are LCH EnClear Clearing Members and LCH shall be made by each such person as principal and not as agent at any time.