Multiple Signatures Not Required. Accountholders who indicate that multiple (two or more) authorized signatures are required for the withdrawal of funds are on notice that we will not assume any responsibility for verification of the existence of multiple signatures on orders of withdrawal against the account, that we will regard this instruction as being for the accountholder’s internal purposes only, and that we will open the account only with the understanding that transaction requests bearing the signature of any one (1) of the authorized signers will be considered properly authorized for payment. Each accountholder agrees that notwithstanding any multiple signatures requirement reflected on the account, they, and each of them, indemnify and hold us harmless from any loss, claim or damage arising from the release of funds from the account upon the signature of any one of the authorized signers.
Appears in 6 contracts
Samples: Cit Bank Agreement for Personal Accounts, Cit Bank Agreement for Personal Accounts, Cit Bank Agreement for Personal Accounts
Multiple Signatures Not Required. Accountholders who indicate that multiple (two or more) authorized signatures are required for the withdrawal of funds are on notice that we will not assume any responsibility for verification of the existence of multiple signatures on orders of withdrawal against the account, that we will regard this instruction as being for the accountholder’s internal purposes only, and that we will open the account only with the understanding that transaction requests bearing the signature of any one (1) of the authorized signers will be considered properly authorized for payment. Each accountholder agrees that notwithstanding any multiple signatures requirement reflected on the account, they, and each of them, indemnify and hold us harmless from any loss, claim or damage arising from the release of funds from the account upon the signature of any one of the authorized signersauthorizedsigners.
Appears in 2 contracts
Samples: Banking Agreement, Cit Bank Agreement for Personal Accounts
Multiple Signatures Not Required. Accountholders who indicate that multiple (two or more) authorized signatures are required for the withdrawal of funds are on notice that we will not assume any responsibility for verification of the existence of multiple signatures on orders of withdrawal against the account, that we will regard this instruction as being for the accountholder’s internal purposes only, and that we will open the account only with the understanding that transaction requests bearing the signature of any one (1) of the authorized signers will be considered properly authorized for payment. Each accountholder agrees that notwithstanding any multiple signatures requirement reflected on the account, they, and each of them, indemnify and hold us harmless from any loss, claim or damage arising from the release of funds from the account upon the signature of any one of the authorized signers.the
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