Common use of JOINT ACCOUNT OWNERS Clause in Contracts

JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned xxxxxx agrees to indemnify, defend and hold harmless 10TradeFX for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off- exchange options, to deposit with and withdraw from 10TradeFX, currencies, securities, negotiable instruments, and other property, including withdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases with respect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, 10TradeFX is authorized to take such action in regard to the Account, as 10TradeFX may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify 10TradeFX immediately upon the death or legal incapacity of any joint owner. 10TradeFX may terminate this Agreement by written notice to any one of the joint owners. In the event that 10TradeFX receives a notice of a dispute between or conflicting instructions from joint account holders, 10TradeFX may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until 10TradeFX receives satisfactory documentations that the dispute has been resolved or all joint account holders give 10TradeFX instructions.

Appears in 2 contracts

Samples: Terms and Conditions, Terms and Conditions

AutoNDA by SimpleDocs

JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned xxxxxx hereby agrees to indemnify, defend and hold harmless 10TradeFX MiltonPrime for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off- off‐ exchange options, to deposit with and withdraw from 10TradeFXMiltonPrime, currencies, securities, negotiable instruments, and other property, including withdrawals includingwithdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases with respect withrespect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, 10TradeFX MiltonPrime is authorized to take such action in regard to the Account, as 10TradeFX MiltonPrime may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify 10TradeFX MiltonPrime immediately upon the death or legal incapacity of any joint owner. 10TradeFX MiltonPrime may terminate this Agreement by written notice to any one of the joint owners. In the event that 10TradeFX MiltonPrime receives a notice of a dispute between or conflicting instructions from joint account holders, 10TradeFX MiltonPrime may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until 10TradeFX MiltonPrime receives satisfactory documentations that the dispute has been resolved or all joint account holders give 10TradeFX MiltonPrime instructions.

Appears in 2 contracts

Samples: Terms and Conditions, Terms and Conditions

AutoNDA by SimpleDocs

JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned xxxxxx hereby agrees to indemnify, defend and hold harmless 10TradeFX 10tradefx for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off- exchange options, to deposit with and withdraw from 10TradeFX10tradefx, currencies, securities, negotiable instruments, and other property, including withdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases with respect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, 10TradeFX 10tradefx is authorized to take such action in regard to the Account, as 10TradeFX 10tradefx may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify 10TradeFX 10tradefx immediately upon the death or legal incapacity of any joint owner. 10TradeFX 10tradefx may terminate this Agreement by written notice to any one of the joint owners. In the event that 10TradeFX 10tradefx receives a notice of a dispute between or conflicting instructions from joint account holders, 10TradeFX 10tradefx may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until 10TradeFX 10tradefx receives satisfactory documentations that the dispute has been resolved or all joint account holders give 10TradeFX 10tradefx instructions.

Appears in 1 contract

Samples: Terms and Conditions

Time is Money Join Law Insider Premium to draft better contracts faster.