Common use of Business Transfer Authorization Services Clause in Contracts

Business Transfer Authorization Services. This Section applies to transactions regarding Business Accounts. We may provide Business Transfer Authorization Services during the Term of this Agreement in connection with certain transactions made regarding a Business Account. Through our Business Transfer Authorization Services, we may allow the Master User to specify one or more individuals who are required to approve certain transactions through Online Banking Services regarding a Business Account. The Master User may also set per-transaction and per-day limits on the amounts of transactions that the authorizing individual may approve. The Master User’s designation of an authorizing individual will require certain identifying and other information regarding such authorizing individual, which may include without limitation, name, address, telephone number, and email address. In addition, designation of an authorizing individual may require assignment of a mobile authorization code to such authorizing individual. After proper designation of all authorizing individuals, such authorizing individuals will receive a notice from us in the event a transaction is initiated that requires their approval. Such notice may be sent via email, text message, phone call, or other means we allow. In order to approve such transactions, the authorizing individual will be required to comply with certain Security Devices and Procedures required by us, which may include, without limitation, submitting a mobile authorization code, password, or passcode to us via mobile device, smartphone, personal computer, email, phone call, text message, or other Required Technology. You understand and agree that, as with other Security Devices and Procedures, anyone with access to any of the Security Devices and Procedures issued to authorizing individuals will be able to approve transactions that would otherwise be subject to approval by an authorizing individual. WE CANNOT CONTROL AND WILL NOT BE RESPONSIBLE FOR, AND YOU AGREE TO INDEMNIFY AND HOLD US HARMLESS FROM, ANY LIABILITY RELATING TO ANY FAILURE BY YOU, THE MASTER USER, ANY SUB-USER, AND ANY OTHER PERSON TO (A) MAINTAIN THE SECURITY OF AND COMPLY WITH SECURITY DEVICES AND PROCEDURES OR (B) MAINTAIN THE PHYSICAL SECURITY OF THE SYSTEMS USED BY AUTHORIZING INDIVIDUALS TO APPROVE BUSINESS TRANSACTIONS.