Common use of Authority of Each Client Clause in Contracts

Authority of Each Client. Each of the Clients, acting alone, is authorized and empowered for, and on behalf of all of the Clients, a) to buy and sell (including short sales) and otherwise deal in stocks, bonds and other securities on margin or otherwise through us; b) to receive every communication regarding each account and transaction; c) to receive and withdraw money, securities or other property without limitation in amount, in the Clients’ individual name or in the name of any other person at the Clients’ direction, and to dispose of the same without recourse to us by any one or more of the Clients; d) to execute agreements relating to any of the foregoing matters and to terminate, modify or waive any of the applicable provisions; and e) generally to act and deal with us in respect of an account as fully and with the same authority as though the Client alone were interested in the account, all without notice to any other Clients. Each Applicant and Co-Applicant acknowledges that we may make deliveries of securities or payments to any one of the Clients or any other person upon, or pursuant to, instructions received from any one of the Clients and in such event we will be under no duty or obligation to inquire into the purpose or propriety of any such instructions. We will not be bound to see to the application or disposition of the securities delivered or payments made. The Clients jointly and severally agree to indemnify and hold us harmless from any loss, liability or expense resulting from our acting in accordance with the above authority. Without limiting the authority granted, we are authorized, in our absolute discretion, to require joint action by all of the Clients regarding any matter concerning an account, including the giving or cancellation of orders and the withdrawal of monies, securities or other property.

Authority of Each Client. Each of the Clients, acting alone, is authorized and empowered for, and on behalf of all of the Clients, a) to buy and sell (including short sales) and otherwise deal in stocks, bonds and other securities on margin or otherwise through us; b) to receive every communication regarding each account and transaction; c) to receive and withdraw money, securities or other property without limitation in amount, in the Clients’ individual name or in the name of any other person at the Clients’ direction, and to dispose of the same without recourse to us by any one or more of the Clients; d) to execute agreements relating to any of the foregoing matters and to terminate, modify or waive any of the applicable provisions; and e) generally to act and deal with us in respect of an account as fully and with the same authority as though the Client alone were interested in the account, all without notice to any other ClientsClients . Each Applicant and Co-Applicant acknowledges that we may make deliveries of securities or payments to any one of the Clients or any other person upon, or pursuant to, instructions received from any one of the Clients and in such event we will be under no duty or obligation to inquire into the purpose or propriety of any such instructionsinstructions . We will not be bound to see to the application or disposition of the securities delivered or payments mademade . The Clients jointly and severally agree to indemnify and hold us harmless from any loss, liability or expense resulting from our acting in accordance with the above authorityauthority . Without limiting the authority granted, we are authorized, in our absolute discretion, to require joint action by all of the Clients regarding any matter concerning an account, including the giving or cancellation of orders and the withdrawal of monies, securities or other propertyproperty .

Authority of Each Client. Each of the Clients, acting alone, is authorized and empowered for, and on behalf of all of the Clients, a) :  to buy and sell (including short sales) and otherwise deal in stocks, bonds and other securities on margin or otherwise through us; b) ;  to receive every communication regarding with respect to each account and transaction; c) ;  to receive and withdraw money, securities or other property without limitation in amount, in the Clients’ Client’s individual name or in the name of any other person at the Clients’ Client’s direction, and to dispose of the same without recourse to us by any one or more of the Clients; d) ;  to execute agreements relating to any of the foregoing matters and to terminate, modify or waive any of the applicable provisions; and e) and  generally to act and deal with us in respect of an account as fully and with the same authority as though the Client alone were interested in the account, all without notice to any other Clients. Each Applicant and Co-Applicant specifically acknowledges that we SFI may make deliveries of securities or payments to any one of the Clients or any other person upon, or pursuant to, instructions received from any one of the Clients and in such event we SFI will be under no duty or obligation to inquire into the purpose or propriety of any such instructions. We S F I will not be bound to see to the application or disposition of the securities delivered or payments made. The Clients jointly and severally agree to indemnify and hold us SFI harmless from any loss, liability or expense resulting from our acting in accordance with the above authority. Without in any way limiting the authority granted, we are SFI is authorized, in our its absolute discretion, to require joint action by all of the Clients regarding with respect to any matter concerning an account, including including, but not limited to, the giving or cancellation of orders and the withdrawal of monies, securities or other property.