Ann: Trading Halt-XPE.AX, page-25

The Material Contracts clause (or sometimes Company Contracts or just Contracts) generally encompasses two distinct parts: (1) a definition of contracts to be disclosed and (2) representations regarding those disclosed contracts. The definition is either a general statement including any material contracts or a list of qualifying contracts to be included. In either case, there may also be exclusionary language to exclude certain contracts (e.g. those below a certain dollar amount).

Clause examples differ significantly both in structure and in language. All examples include the two general parts mentioned above and the representations regarding the disclosed contracts was generally similar. However, the clause examples differed significantly in the contracts included in the definition of "Material Contracts" (and thus included in the representations) and also the way in which the clause defined these contracts. In other words, some clause examples use broad inclusive language and then specifically exclude certain contracts while others only include certain contracts with specific qualifications. Other examples included certain broad categories of contracts and then added qualifications to each category. This definition appears to be very entity and transaction specific and will likely be tailored to specific circumstances.