Common use of Bulk Application Clause in Contracts

Bulk Application. If SoFi HK or its agent makes a bulk application for its own account, on your behalf and/or on behalf of SoFi HK’s other clients, you agree: (a) that such bulk application may be rejected for reasons unrelated to your application, and neither SoFi HK nor its agent will, in the absence of fraud, negligence or willful default, incur any liability arising from such rejection; and (b) to fully indemnify SoFi HK against all loss and liability which it may suffer if such bulk application is rejected due to breach of your representations, warranties or undertakings or other factors relating to you. You acknowledge that you may also be liable to other persons affected by such breach or other factors.