Common use of Authority of Authorized Persons Clause in Contracts

Authority of Authorized Persons. Institution warrants and represents that: 4.6.1 each Authorized Person set forth on the Certificate has been duly authorized by a duly elected officer of Institution to provide Instructions pursuant to this Agreement; 4.6.2 Institution shall adopt, implement and maintain procedures reasonably designed to ensure the accuracy and integrity of all Instructions, including, but not limited to, procedures (i) requiring all Instructions on behalf of Institution to originate from a specific office (or offices) designated by Institution; and (ii) limiting the use of each computer terminal used for transmitting Instructions to Federated's electronic communication and recordkeeping systems to Authorized Persons with adequate training and supervision. Upon Federated's request, Institution shall provide Federated with copies of its security procedures with respect to the foregoing and shall use and safeguard any access passwords, codes, manuals or other information it obtains with respect to Federated's electronic communication and recordkeeping systems and the data thereon in a manner consonant with the protection of its own proprietary business records.