Common use of Administrator and Authorized Users Clause in Contracts

Administrator and Authorized Users. You agree to appoint and designate an administrator (the “Administrator”) who will be authorized and responsible for creating, and maintaining subsequent Administrators and Authorized Users on your behalf, including assigning and revoking accessing privileges (including the Online Banking Username and Password) for persons to use the Services and providing subsequent Online Banking Usernames or Passwords to those individuals. You agree and understand that when you designate an individual as an Administrator, you are providing the authority for that Administrator to designate additional Administrators or Authorized Users all of whom will have access to your accounts that are linked in the system. Any Administrator(s) will be authorized to create additional Administrators or Authorized Users with access to your accounts. You authorize Bank to follow any and all instructions entered and transactions initiated by your Administrators or Authorized Users unless and until you have notified us, according to the notification procedures prescribed by us, that the Online Banking Username and/or Password or other security code has been stolen, compromised, or otherwise becomes known to persons other than you and until we have had a reasonable opportunity to act on such notice. You agree that the initiation of a transaction or instructions by your Administrators or Authorized Users using the Online Banking Username and Password constitutes sufficient authorization for the Bank to execute such transaction or instruction notwithstanding any particular designation by you of authorized persons or signature requirements identified on any signature card or other documents relating to the Account Agreements or your deposit Account maintained with Bank, and You agree and intend that the submission of a transaction and instructions using the Online Banking Username and Password shall be considered the same as your authorized written signature in authorizing us to execute each such transaction or instruction. YOU UNDERSTAND AND AGREE THAT, NOTWITHSTANDING ANY INSTRUCTIONS OR AGREEMENTS THAT REQUIRE TWO OR MORE SIGNATURES TO ACCESS YOUR ACCOUNTS OR THE FUNDS THEREIN, ANY ADMINISTRATOR OR AUTHORIZED USER ALONE CAN ACCESS THE ACCOUNTS AND INTITATE BANKING TRANSACTIONS USING THE SERVICES THROUGH BOB. YOU ACKNOWLEGE AND AGREE THAT YOU SHALL BE BOUND BY ANY AND ALL TRANSACTIONS INITIATED THROUGH THE USE OF SUCH ONLINE BANKING USERNAME AND PASSWORD, WHETHER AUTHORIZED OR UNAUTHORIZED, AND BY ANY AND ALL TRANSACTIONS AND ACTIVITY OTHERWISE INITIATED BY YOU, TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW. You further acknowledge and agree that the Online Banking Username and Password are not designed to detect error in transmission or content of communications or transaction initiated hereunder, and that you bear the sole responsibility for detecting and preventing error.

Administrator and Authorized Users. You agree to appoint and designate an administrator (the “Administrator”) who will be authorized and responsible for creating, and maintaining subsequent Administrators and Authorized Users on your behalf, including assigning and revoking accessing privileges (including the Online Banking Username and Password) for persons to use the Services and providing subsequent Online Banking Usernames or Passwords to those individuals. You agree and understand that when you designate an individual as an Administrator, you are providing the authority for that Administrator to designate additional Administrators or Authorized Users all of whom will have access to your accounts that are linked in the system. Any Administrator(s) will be authorized to create additional Administrators or Authorized Users with access to your accounts. You authorize Bank to follow any and all instructions entered and transactions initiated by your Administrators or Authorized Users unless and until you have notified us, according to the notification procedures prescribed by us, that the Online Banking Username and/or Password or other security code has been stolen, compromised, or otherwise becomes known to persons other than you and until we have had a reasonable opportunity to act on such notice. You agree that the initiation of a transaction or instructions by your Administrators or Authorized Users using the Online Banking Username and Password constitutes sufficient authorization for the Bank to execute such transaction or instruction notwithstanding any particular designation by you of authorized persons or signature requirements identified on any signature card or other documents relating to the Account Agreements or your deposit Account maintained with Bank, and You agree and intend that the submission of a transaction and instructions using the Online Banking Username and Password shall be considered the same as your authorized written signature in authorizing us to execute each such transaction or instruction. YOU UNDERSTAND AND AGREE THAT, NOTWITHSTANDING ANY INSTRUCTIONS OR AGREEMENTS THAT REQUIRE TWO OR MORE SIGNATURES TO ACCESS YOUR ACCOUNTS OR THE FUNDS THEREIN, ANY ADMINISTRATOR OR AUTHORIZED USER ALONE CAN ACCESS THE ACCOUNTS AND INTITATE BANKING TRANSACTIONS USING THE SERVICES THROUGH BOBXXX. YOU ACKNOWLEGE AND AGREE THAT YOU SHALL BE BOUND BY ANY AND ALL TRANSACTIONS INITIATED THROUGH THE USE OF SUCH ONLINE BANKING USERNAME AND PASSWORD, WHETHER AUTHORIZED OR UNAUTHORIZED, AND BY ANY AND ALL TRANSACTIONS AND ACTIVITY OTHERWISE INITIATED BY YOU, TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW. You further acknowledge and agree that the Online Banking Username and Password are not designed to detect error in transmission or content of communications or transaction initiated hereunder, and that you bear the sole responsibility for detecting and preventing error.

Administrator and Authorized Users. You agree to appoint and designate an administrator (the “Administrator”) who will be authorized and responsible for creating, and maintaining subsequent Administrators and Authorized Users on your behalf, including assigning and revoking accessing privileges (including the Online Banking Username ID and Password) for persons to use the Services and providing subsequent Online Banking Usernames IDs or Passwords to those individuals. You agree and understand that when you designate an individual as an Administrator, you are providing the authority for that Administrator to designate additional Administrators or Authorized Users all of whom will have access to your accounts that are linked in the system. Any Administrator(s) will be authorized to create additional Administrators or Authorized Users with access to your accounts. You authorize Bank to follow any and all instructions entered and transactions initiated by your Administrators or Authorized Users unless and until you have notified us, according to the notification procedures prescribed by us, that the Online Banking Username ID and/or Password or other security code has been stolen, compromised, or otherwise becomes known to persons other than you and until we have had a reasonable opportunity to act on such notice. You agree that the initiation of a transaction or instructions by your Administrators or Authorized Users using the Online Banking Username ID and Password constitutes sufficient authorization for the Bank to execute such transaction or instruction notwithstanding any particular designation by you of authorized persons or signature requirements identified on any signature card or other documents relating to the Account Agreements or your deposit Account maintained with Bank, and You agree and intend that the submission of a transaction and instructions using the Online Banking Username ID and Password shall be considered the same as your authorized written signature in authorizing us to execute each such transaction or instruction. YOU UNDERSTAND AND AGREE THAT, NOTWITHSTANDING ANY INSTRUCTIONS OR AGREEMENTS THAT REQUIRE TWO OR MORE SIGNATURES TO ACCESS YOUR ACCOUNTS OR THE FUNDS THEREIN, ANY ADMINISTRATOR OR AUTHORIZED USER ALONE CAN ACCESS THE ACCOUNTS AND INTITATE BANKING TRANSACTIONS USING THE SERVICES THROUGH BOB. YOU ACKNOWLEGE AND AGREE THAT YOU SHALL BE BOUND BY ANY AND ALL TRANSACTIONS INITIATED THROUGH THE USE OF SUCH ONLINE BANKING USERNAME ID AND PASSWORD, WHETHER AUTHORIZED OR UNAUTHORIZED, AND BY ANY AND ALL TRANSACTIONS AND ACTIVITY OTHERWISE INITIATED BY YOU, TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW. You further acknowledge and agree that the Online Banking Username ID and Password are not designed to detect error in transmission or content of communications or transaction initiated hereunder, and that you bear the sole responsibility for detecting and preventing error.

Administrator and Authorized Users. You agree to appoint and designate an administrator (the “Administrator”) who will be authorized and responsible for creating, and maintaining subsequent Administrators and Authorized Users on your behalf, including assigning and revoking accessing privileges (including the Online Banking Username ID and Password) for persons to use the Services and providing subsequent Online Banking Usernames IDs or Passwords to those individuals. You agree and understand that when you designate an individual as an Administrator, you are providing the authority for that Administrator to designate additional Administrators or Authorized Users all of whom will have access to your accounts that are linked in the system. Any Administrator(s) will be authorized to create additional Administrators or Authorized Users with access to your accounts. You authorize Bank to follow any and all instructions entered and transactions initiated by your Administrators or Authorized Users unless and until you have notified us, according to the notification procedures prescribed by us, that the Online Banking Username ID and/or Password or other security code has been stolen, compromised, or otherwise becomes known to persons other than you and until we have had a reasonable opportunity to act on such notice. You agree that the initiation of a transaction or instructions by your Administrators or Authorized Users using the Online Banking Username ID and Password constitutes sufficient authorization for the Bank to execute such transaction or instruction notwithstanding any particular designation by you of authorized persons or signature requirements identified on any signature card or other documents relating to the Account Agreements or your deposit Account maintained with Bank, and You agree and intend that the submission of a transaction and instructions using the Online Banking Username ID and Password shall be considered the same as your authorized written signature in authorizing us to execute each such transaction or instruction. YOU UNDERSTAND AND AGREE THAT, NOTWITHSTANDING ANY INSTRUCTIONS OR AGREEMENTS THAT REQUIRE TWO OR MORE SIGNATURES TO ACCESS YOUR ACCOUNTS OR THE FUNDS THEREIN, ANY ADMINISTRATOR OR AUTHORIZED USER ALONE CAN ACCESS THE ACCOUNTS AND INTITATE BANKING TRANSACTIONS USING THE SERVICES THROUGH BOBXXX. YOU ACKNOWLEGE AND AGREE THAT YOU SHALL BE BOUND BY ANY AND ALL TRANSACTIONS INITIATED THROUGH THE USE OF SUCH ONLINE BANKING USERNAME ID AND PASSWORD, WHETHER AUTHORIZED OR UNAUTHORIZED, AND BY ANY AND ALL TRANSACTIONS AND ACTIVITY OTHERWISE INITIATED BY YOU, TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW. You further acknowledge and agree that the Online Banking Username ID and Password are not designed to detect error in transmission or content of communications or transaction initiated hereunder, and that you bear the sole responsibility for detecting and preventing error.