Common use of Automated Systems Clause in Contracts

Automated Systems. I consent to the use of automated systems or service bureaus by you and the Clearing Broker and your Affiliates and the Clearing Broker’s affiliates in conjunction with my RHC Account, including automated order entry and execution, record keeping, reporting and account reconciliation, and risk management systems (collectively “Automated Systems”). I understand that the use of Automated Systems entails risks, such as interruption or delays of service, errors or omissions in the information provided, system failure of any computer hardware or software used by an Indemnified Party, or any telecommunications lines or devices used an Indemnified Party, and errors in the design or functioning of such Automated Systems (collectively, a “System Failure”) that could cause substantial damage, expense or liability to me. I understand and agree that Indemnified Parties will have no liability whatsoever for any of my Losses arising out of or relating to a System Failure, Downtime, or any erroneous order or trade that prevents you from fulfilling your obligations under this Agreement, provided that you use commercially reasonable efforts to prevent or limit such erroneous order, trade, System Failure, or Downtime.

Automated Systems. I consent to the use of automated systems or service bureaus by you and the Clearing Broker and your Affiliates and the Clearing Broker’s affiliates in conjunction with my RHC Account, including automated order entry and execution, record keeping, reporting and account reconciliation, and risk management systems (collectively collectively, “Automated Systems”). I understand that the use of Automated Systems entails risks, such as interruption or delays of service, errors or omissions in the information provided, system failure of any computer hardware or software used by an Indemnified Party, or any telecommunications lines or devices used an Indemnified Party, and errors in the design or functioning of such Automated Systems (collectively, a “System Failure”) that could cause substantial damage, expense or liability to me. I understand and agree that Indemnified Parties will have no liability whatsoever for any of my Losses arising out of or relating to a System Failure, Downtime, or any erroneous order or trade that prevents you from fulfilling your obligations under this Agreement, provided that you use commercially reasonable efforts to prevent or limit such erroneous order, trade, System Failure, or Downtime.