Common use of Smart Cards Clause in Contracts

Smart Cards. Nothing in this agreement shall preclude Net1 from marketing and supplying smart cards and terminals to licensed banks or to their subsidiaries that are licensed under the patent to use the UEPS. In this regard, Net1 records that it is its intention to levy - 8.1 All licensees nominated by Nedcor, other than ABSA, FNB or Standard unless otherwise advised by Nedcor in writing; and 8.2 All Licensees nominated by ABSA, FNB and Standard; with a charge equal to 3,5% (three comma five percent) of the purchase price of each and every smart card purchased by them from suppliers other than Net1".

Smart Cards. Nothing in this agreement shall preclude Net1 from marketing and supplying smart cards and terminals to licensed banks or to their subsidiaries that are licensed under the patent to use the UEPS. In this regard, Net1 records that it is its intention to levy -levy- 8.1 All 8.1. all licensees nominated by Nedcor, other than ABSA, FNB or and Standard unless otherwise advised by Nedcor in writing; and 8.2 All Licensees 8.2. all licensees nominated by ABSA, FNB and Standard; with a charge equal to 3,5% (three comma five percent) of the purchase price of each and every smart card purchased by them from suppliers other than Net1".