Common use of Partnership terms Clause in Contracts

Partnership terms. If you are a partnership, the following shall apply: 8.1 Each partner (whether an Authorised Signatory on the account or not) will be jointly and severally liable for all liabilities of whatever nature of the partnership to us together with interest, fees and charges. Therefore, each partner is separately responsible to us for all debts and liabilities of the partnership and not just a share of them. We may take action against all or any of the partners. 8.2 If there is a dispute between the partners about the partnership accounts, we may require all partners to authorise transactions until all partners agree how the partnership accounts are to be run. Therefore, no payments out of the partnership accounts will be made unless authorised by all partners and all facilities requiring authorisation from only one partner or authorised signatory, for example internet banking, will be suspended until the dispute is resolved. Payments made to the partnership will be paid into the partnership accounts in the usual manner. 8.3 If any partner dies or ceases to be a partner of the partnership, we may treat any continuing partners as having full power to carry on the partnership’s business and to deal with its assets as if there had been no change in the partnership. This applies unless we receive written notice to the contrary from any of the continuing partners, or from the executors, legal personal representatives or trustees of any deceased partner. 8.4 If we are owed money on the partnership accounts: (a) When a partner dies, the deceased partner’s estate remains responsible for paying the debt and we may require payment from the deceased partner’s assets; (b) When a partner leaves the partnership, each partner (including the partner who has left) remains separately responsible to us to repay all the debts. 8.5 The partners will notify us immediately of any changes in the partnership and the current partners will ensure that any incoming partners are given appropriate account signing authority. 8.6 The account signing authority will not be affected by: (a) any change in the name of the partnership; or (b) any change in the partners of the partnership as a result of death, bankruptcy; retirement, any new partner (s) joining or otherwise. 8.7 Any termination of or alteration to the account signing authority shall not release the partners from any previous liability or indemnity for any act performed by us in accordance with instructions previously received from the partners or an authorised signatory under the "account signing authority".

Partnership terms. If you are a partnership (other than a limited liability partnership), the following shall apply: 8.1 9.1 Each partner (whether an Authorised Signatory on the account or not) will be jointly and severally liable for all liabilities of whatever nature of the partnership to us together with interest, fees and charges. Therefore, each partner is separately responsible to us for all debts and liabilities of the partnership and not just a share of them. We may take action against all or any of the partners. 8.2 9.2 If there is a dispute between the partners about the partnership accounts, we may require all partners to authorise transactions until all partners agree how the partnership accounts are to be run. Therefore, no payments out of the partnership accounts will be made unless authorised by all partners and all facilities requiring authorisation from only one partner or authorised signatory, for example internet banking, will be suspended until the dispute is resolved. Payments made to the partnership will be paid into the partnership accounts in the usual manner. 8.3 9.3 If any partner dies or ceases to be a partner of the partnership, we may treat any continuing partners as having full power to carry on the partnership’s 's business and to deal with its assets as if there had been no change in the partnership. This applies unless we receive written notice to the contrary from any of the continuing partners, or from the executors, legal personal representatives or trustees of any deceased partner. 8.4 9.4 If we are owed money on the partnership accounts: (a) When a partner dies, the deceased partner’s 's estate remains responsible for paying the debt and we may require payment from the deceased partner’s 's assets; (b) When a partner leaves the partnership, each partner (including the partner who has left) remains separately responsible to us to repay all the debts. 8.5 9.5 The partners will notify us immediately of any changes in the partnership and the current partners will ensure that any incoming partners are given appropriate account signing authority. 8.6 9.6 The account signing authority will not be affected by: (a) any Any change in the name of the partnership; or (b) any Any change in the partners of the partnership as a result of death, bankruptcy; retirement, any new partner (s) joining or otherwise. 8.7 9.7 Any termination of or alteration to the account signing authority shall not release the partners from any previous liability or indemnity for any act performed by us in accordance with instructions previously received from the partners or an authorised signatory under the "account signing authority".

Partnership terms. If you are a partnership, the following shall apply: 8.1 9.1 Each partner (whether an Authorised Signatory on the account or not) will be jointly and severally liable for all liabilities of whatever nature of the partnership to us together with interest, fees and charges. Therefore, Therefore each partner is separately responsible to us for all debts and liabilities of the partnership and not just a share of them. We may take action against all or any of the partners. 8.2 9.2 If there is a dispute between the partners about the partnership accounts, we may require all partners to authorise transactions until all partners agree how the partnership accounts are to be run. Therefore, Therefore no payments out of the partnership accounts will be made unless authorised by all partners and all facilities requiring authorisation from only one partner or authorised signatory, for example internet banking, will be suspended until the dispute is resolved. Payments made to the partnership will be paid into the partnership accounts in the usual manner. 8.3 9.3 If any partner dies or ceases to be a partner of the partnership, we may treat any continuing partners as having full power to carry on the partnership’s business and to deal with its assets as if there had been no change in the partnership. This applies unless we receive written notice to the contrary from any of the continuing partners, or from the executors, legal personal representatives or trustees of any deceased partner. 8.4 9.4 If we are owed money on the partnership accounts: (a) When a partner dies, the deceased partner’s estate remains responsible for paying the debt and we may require payment from the deceased partner’s assets; (b) When a partner leaves the partnership, each partner (including the partner who has left) remains separately responsible to us to repay all the debts. 8.5 9.5 The partners will notify us immediately of any changes in the partnership and the current partners will ensure that any incoming partners are given appropriate account signing authority. 8.6 9.6 The account signing authority will not be affected by: (a) any change in the name of the partnership; or (b) any change in the partners of the partnership as a result of death, bankruptcy; retirement, any new partner (s) joining or otherwise. 8.7 9.7 Any termination of or alteration to the account signing authority shall not release the partners from any previous liability or indemnity for any act performed by us in accordance with instructions previously received from the partners or an authorised signatory under the "account signing authority".

Partnership terms. If you are a partnership (other than a limited liability partnership), the following shall apply: 8.1 9.1 Each partner (whether an Authorised Signatory on the account or not) will be jointly and severally liable for all liabilities of whatever nature of the partnership to us together with interest, fees and charges. Therefore, Therefore each partner is separately responsible to us for all debts and liabilities of the partnership and not just a share of them. We may take action against all or any of the partners. 8.2 9.2 If there is a dispute between the partners about the partnership accounts, we may require all partners to authorise transactions until all partners agree how the partnership accounts are to be run. Therefore, Therefore no payments out of the partnership accounts will be made unless authorised by all partners and all facilities requiring authorisation from only one partner or authorised signatory, for example internet banking, will be suspended until the dispute is resolved. Payments made to the partnership will be paid into the partnership accounts in the usual manner. 8.3 9.3 If any partner dies or ceases to be a partner of the partnership, we may treat any continuing partners as having full power to carry on the partnership’s 's business and to deal with its assets as if there had been no change in the partnership. This applies unless we receive written notice to the contrary from any of the continuing partners, or from the executors, legal personal representatives or trustees of any deceased partner. 8.4 9.4 If we are owed money on the partnership accounts: (a) When a partner dies, the deceased partner’s 's estate remains responsible for paying the debt and we may require payment from the deceased partner’s 's assets; (b) When a partner leaves the partnership, each partner (including the partner who has left) remains separately responsible to us to repay all the debts. 8.5 9.5 The partners will notify us immediately of any changes in the partnership and the current partners will ensure that any incoming partners are given appropriate account signing authority. 8.6 9.6 The account signing authority will not be affected by: (a) any Any change in the name of the partnership; or (b) any Any change in the partners of the partnership as a result of death, bankruptcy; retirement, any new partner (s) joining or otherwise. 8.7 9.7 Any termination of or alteration to the account signing authority shall not release the partners from any previous liability or indemnity for any act performed by us in accordance with instructions previously received from the partners or an authorised signatory under the "account signing authority".