Common use of Operation of Accounts Clause in Contracts

Operation of Accounts. You authorise us to and we may (but shall not be obliged to): (a) honour and comply with all cheques, drafts, orders to pay, bills of exchange, promissory notes and all other orders for payment whatsoever expressed to be drawn, signed, accepted, endorsed, made or given by you or on your behalf drawn upon or addressed to or made payable by us, whether your Account is in credit or debit or may become overdrawn as a result thereof (but always without prejudice to our right to refuse any overdraft or increase of overdraft beyond any limit as may be prescribed by us from time to time); (b) honour and comply with all Instructions given or purported to be given by you or your Authorised Agent, whether to withdraw monies from any of your Accounts, deliver, dispose of or deal with any Asset, purchase, sell or otherwise deal in any Investment or undertake any other Transaction in relation to your Accounts; and (c) make available to you any Credit Facilities and, by way of security, accept as duly signed or executed on your behalf (whether in writing or by electronic means as prescribed by the Bank) any document creating or evidencing any charge, mortgage, pledge or other security interest whatsoever over or in respect of any Asset, provided that each such document shall have been signed by or, in our determination, appears to have been signed by, you or your Authorised Agent (whether in writing or by electronic means as prescribed by the Bank).

Operation of Accounts. You authorise us to and we may (but shall not be obliged to): (a) honour and comply with all cheques, drafts, orders to pay, bills of exchange, promissory notes and all other orders for payment whatsoever expressed to be drawn, signed, accepted, endorsed, made or given by you or on your behalf drawn upon or addressed to or made payable by us, whether your Account is in credit or debit or may become overdrawn as a result thereof (but always without prejudice to our right to refuse any overdraft or increase of overdraft beyond any limit as may be prescribed by us from time to time); (b) honour and comply with all Instructions given or purported to be given by you or your Authorised Agent, whether to withdraw monies from any of your Accounts, deliver, dispose of or deal with any Asset, purchase, sell or otherwise deal in any Investment or undertake any other Transaction in relation to your Accounts; and (c) make available to you any Credit Facilities and, by way of security, accept as duly signed or executed on your behalf (whether in writing or by electronic means as prescribed by the Bank) any document creating or evidencing any charge, mortgage, pledge or other security interest whatsoever over or in respect of any Asset, provided that each such document shall have been signed by or, in our determination, appears to have been signed by, you or your Authorised Agent (whether in writing or by electronic means as prescribed by the Bank)Agent.