Common use of Compliance with Security Procedure Clause in Contracts

Compliance with Security Procedure. Company will be solely responsible for protecting against any unauthorized access to PinnBank for Business. If an Entry, a request for cancellation (“Cancellation”), or amendment of an Entry (“Amendment”) received by Bank is judged in good faith to have been originated or authorized by Company, it will be deemed effective as Company’s Entry, Cancellation, or Amendment, and Company shall be obligated to pay Bank the amount of such Entry as provided herein even though the Entry, Cancellation or Amendment was not authorized by Company, provided Bank acted in compliance with security procedures referred to in this Agreement, with respect to such Entry, Cancellation or Amendment. If signature comparison is to be used as a part of security procedures, Bank shall be deemed to have complied with that part of such procedure if it compares the signature accompanying Entries, Cancellations or Amendments received with the signature of an authorized representative of Company (an “Authorized Representative”) and, on the basis of such comparison, believes the signature accompanying such file to be that of such Authorized Representative. If an Entry, Cancellation or Amendment received by Bank was originated or authorized by Company, Company shall be obligated to pay the amount of the Entry, Cancellation, or Amendment as provided herein, whether or not Bank complied with security procedures referred to in this Agreement, with respect to that Entry, Cancellation or Amendment and whether or not that Entry, Cancellation or Amendment was erroneous in any respect or that error would have been detected if Bank had complied with such procedure. Company agrees that the security procedures found in this Agreement, are the security procedures that are necessary for their business and such procedures are deemed to be commercially reasonable. Company agrees that Company shall be responsible for utilizing and implementing those security procedures in their daily operations.

Compliance with Security Procedure. Company will be solely responsible for protecting against any unauthorized access to PinnBank for For Business. If an Entry, a request for cancellation (“Cancellation”), or amendment of an Entry (“Amendment”) received by Bank is judged in good faith to have been originated or authorized by Company, it will be deemed effective as Company’s Entry, Cancellation, or Amendment, and Company shall be obligated to pay Bank the amount of such Entry as provided herein even though the Entry, Cancellation or Amendment was not authorized by Company, provided Bank acted in compliance with security procedures referred to in this Agreement, with respect to such Entry, Cancellation or Amendment. If signature comparison is to be used as a part of security procedures, Bank shall be deemed to have complied with that part of such procedure if it compares the signature accompanying Entries, Cancellations or Amendments received with the signature of an authorized representative of Company (an “Authorized Representative”) and, on the basis of such comparison, believes the signature accompanying such file to be that of such Authorized Representative. If an Entry, Cancellation or Amendment received by Bank was originated or authorized by Company, Company shall be obligated to pay the amount of the Entry, Cancellation, or Amendment as provided herein, whether or not Bank complied with security procedures referred to in this Agreement, with respect to that Entry, Cancellation or Amendment and whether or not that Entry, Cancellation or Amendment was erroneous in any respect or that error would have been detected if Bank had complied with such procedure. Company agrees that the security procedures found in this Agreement, are the security procedures that are necessary for their business and such procedures are deemed to be commercially reasonable. Company agrees that Company shall be responsible for utilizing and implementing those security procedures in their daily operations.

Compliance with Security Procedure. Company Client shall comply with the security procedure requirements described in Schedule Bwith respect to Entries transmitted by Client to Bank. Client acknowledges that the purpose of such security procedure is for verification of authenticity and not to detect an error in the transmission or content of an Entry. No security procedure for the detection of any such error has been agreed upon between the Bank and Client. Client is strictly responsible to establish and maintain the procedures to safeguard against unauthorized transmissions. Client warrants that no individual will be solely responsible for protecting against allowed to initiate transfers in the absence of proper supervision and safeguards, and agrees to take reasonable steps to maintain the confidentiality of the security procedures and any passwords, codes, security devices and related instructions provided by Bank in connection with the security procedures described in Schedule B. If Client believes or suspects that any such information or instructions have been discovered or accessed by unauthorized persons, Client agrees to notify Bank immediately followed by written confirmation. The occurrence of unauthorized access will not affect any transfers made in good faith by Bank prior to PinnBank for Businessreceipt of such notification and within a reasonable time period to prevent unauthorized transfers. If an Entry, Entry (or a request for cancellation (“Cancellation”), or amendment of an Entry (“Amendment”Entry) received by Bank is judged in good faith purports to have been originated transmitted or authorized by CompanyClient, it will be deemed effective as Company’s Entry, Cancellation, Client's Entry (or Amendment, request) and Company Client shall be obligated to pay Bank the amount of such Entry as provided herein even though the Entry, Cancellation Entry (or Amendment request) was not authorized by CompanyClient, provided Bank accepted the Entry in good faith and acted in compliance with the security procedures referred to in this Agreement, Schedule B with respect to such Entry, Cancellation or Amendment. If signature comparison is to be used as a part of security procedures, Bank shall be deemed to have complied with that part of such procedure if it compares the signature accompanying Entries, Cancellations or Amendments received with the signature of an authorized representative of Company (an “Authorized Representative”) and, on the basis of such comparison, believes the signature accompanying such file to be that of such Authorized Representative. If an Entry (or request for cancellation or amendment of an Entry, Cancellation or Amendment ) received by Bank was originated transmitted or authorized by CompanyClient, Company Client shall be obligated to pay Bank the amount of the 3/19/2004 Entry, Cancellation, or Amendment as provided herein, whether or not Bank complied with the security procedures referred to in this Agreement, Schedule B with respect to that Entry, Cancellation or Amendment Entry and whether or not that Entry, Cancellation or Amendment Entry was erroneous in any respect or that error would have been detected if Bank had complied with such procedure. Company agrees that the security procedures found in this Agreement, are the security procedures that are necessary for their business and such procedures are deemed to be commercially reasonable. Company agrees that Company shall be responsible for utilizing and implementing those security procedures in their daily operations.

Compliance with Security Procedure. Company will be solely responsible for protecting against any unauthorized access to PinnBank for Business. If an Entry, Entry (or a request for or cancellation (“Cancellation”), or amendment of an Entry (“Amendment”Entry) received by Bank is judged in good faith purports to have been originated transmitted or authorized by Company, it will be deemed Company's Entry (as principal and as agent for the Payee) and effective as Company’s Entry, Cancellation, 's Entry or Amendment, request (as principal and Company shall be obligated to pay Bank as agent for the amount of such Entry as provided herein Payee) even though the Entry, Cancellation Entry (or Amendment request) was not authorized by CompanyCompany or the Payee or the amount or Receiver of the Entry was other than the amount or Receiver intended by Company or the Payee, provided Bank acted in compliance with the security procedures procedure referred to in this Agreement, Schedule A with respect to such Entry, Cancellation or Amendment. If signature comparison is to be used as a part of that security proceduresprocedure, Bank shall be deemed to have complied with that part of such procedure if it compares the signature accompanying Entries, Cancellations a file of Entries (or Amendments request for cancellation or amendment of an Entry) received with the signature of an authorized representative of Company (an “Authorized Representative”) and, on the basis of such comparison, believes the signature accompanying such file to be that of such Authorized Representativeauthorized representative. If an Entry (or request for cancellation or amendment of an Entry, Cancellation or Amendment ) received by Bank was originated transmitted or authorized by Company, Company the Entry shall be obligated to pay the amount of the Entry, Cancellation, or Amendment deemed Company's Entry (as provided hereinprincipal and as agent for Payee) and effective as Company's Entry (as principal and as agent for Payee), whether or not Bank complied with security procedures procedure referred to in this Agreement, Schedule A with respect to that Entry, Cancellation or Amendment Entry and whether or not that Entry, Cancellation or Amendment Entry was erroneous in any respect or that error would have been detected if Bank had complied with such procedure. Company agrees that the security procedures found in this Agreement, are the security procedures that are necessary for their business and such procedures are deemed to be commercially reasonable. Company agrees that Company shall be responsible for utilizing and implementing those security procedures in their daily operations.