Foreign Currency Deposit Account Services Clause Samples

Foreign Currency Deposit Account Services. If Company has identified Foreign Currency Deposit Accounts (“Foreign Currency Accounts”) in the Business Online Banking Application, online services may be provided for these accounts, subject to the following: a. Services include transaction, rate and information reporting, Company initiation of orders for purchase and sale of an agreed amount of US Dollars against the currency of another foreign country (“Currency”), and initiation of transfers between accounts (collectively, “Services;” singularly “Service”). Currency and transfer Services for Foreign Service Accounts are subject to verification and processing in accordance with the terms of Company’s Master Foreign Exchange Agreement, Foreign Exchange Signature Authorization and Consent, Risk Disclosure Statement, any amendment thereto (“FX Agreement”), and any applicable laws and regulations as it applies to the Services; b. The Services for Foreign Currency Accounts shall be as determined by Bank from time to time at its discretion, and may change from time to time and/or be terminated by Bank. Company acknowledges and c. Company will be bound by any instructions and orders placed using the Services. The Bank will have no duty to verify whether any such Order, whether sent by an Authorized User or otherwise, has been authorized by Company. Company will be deemed to have given an Order to the Bank when Bank receives an Order through the Services (whether or not Company receives, or actually becomes aware of, any acknowledgment of such Order). The Bank may act on such Orders and any resulting trades or transactions, and other related rights and obligations, will be binding on Company; d. Company agrees that it will use the Services only for its internal business purposes. Company agrees not to use the Services for personal purposes. Company will not sell, lease, license, transfer, provide or otherwise make available the Services or any portion thereof to any third party. All Services used by Company are subject to all applicable Service terms contained in Company’s FX Agreement and any other agreements which govern Company’s Foreign Currency accounts. e. Company acknowledges that its access to and use of any Service may be restricted at the Bank’s discretion, and/or limited as a result of applicable laws and regulations, and Company shall be responsible to know all such applicable laws and regulations as it applies to Company’s use of the Services.