Common use of POWERS OF ATTORNEY AND COMPETENCE LIMITS Clause in Contracts

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon opening the account / accounts, the Holder is bound to fill in the signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits granted to the persons Authorized to represent the account holder and to order transactions on behalf of and for its account. 4.2. If upon opening the account, and upon subsequent empowerment by the Holder under the above- mentioned point 4.1, paragraph 2, the authorized Person is not present to submit the signature specimen in front of the Holder and of the Bank employee, the Holder shall indicate in the Application/authorized signature file the authorized Person’s identification data and competence limits, and the authorized person shall submit the signature specimen before performing the first transaction. 4.3. The signature specimen of each Person authorized to operate the account shall be completed in the presence of a Bank employee from the unit where the 4.4. Except for the provision under section 4.5, the Bank shall perform any transaction only under the signature specimens from the Authorized signatures file. The Bank shall not be liable for the authenticity of the signatures applied on the documents and on the payment instructions submitted to the Bank. The Bank shall consider that the signatures are authentic as long as they have an appearance of conformity with those from the Authorized signatures file. 4.5. In exceptional cases, the Bank may accept cash withdrawals from the Holder’s account also by third parties authorized by the Account, under a special mandate granted for such operations the Bank reserving the right to refuse to perform the operation. 4.6. The Customer is obligated to previously inform the Bank on any restrictions, competence limitations or conditions regarding the Authorized persons. In the absence of such information, the Bank shall consider that the Authorized persons are fully and separately entitled to issue orders on behalf of and for the account of the Customer. The revocation, modification of limits or replacement of the authorized person (s) may be performed by the holder by any of the methods provided in this Contract for granting the power of attorney. 4.7. Any power of representation granted by the Customer and/or order received by the Bank from the Customer, and the subsequent modifications thereof, shall be considered valid until their written revocation, even in the cases in which such revocations/modifications were made public according to the effective legislation. The power of attorney or its revocation or modification become effective on the next Business Day after the one on which the Bank receives the documents for the revocation, modification or replacement of the Authorized person. The Customer must notify the Bank, in writing and with no delay, any modification occurred in relation with the Authorized persons, and any modification of its status and/or legal status. 4.8. Any limitation of representation attributions or of the power of attorney for operating the account must be notified to the Bank by the Holder, in order to be enforceable. In the absence of such notifications, the Bank shall not be obligated to take into consideration these limitations and shall not be liable for the prejudices caused by unauthorized operations. 4.9. In case of the account Xxxxxx’s death or, as the case may be, its incapacitation, the Authorized persons’ right to operate the account is legally terminated. 4.10. The Bank is considered to have been notified about the Holder’s death if it is expressly notified, either by a notification from a competent notary public or by the submittal to the registry of the Bank by any interested third party of a written notification, with the decease document attached (original document or a legalized copy). Until the distribution of assets, the heirs are considered co-holders of the account, and the consent of all co-holders is necessary for performing operations. After the distribution, the amounts from the account shall be released to the heirs based on and in virtue of the shares set by the asset distribution document issued under the conditions of law. 4.10.1. The persons who have acquired the right to dispose of the existing amounts into accounts opened at the Bank may exercise this right only after submitting the documents proving the entitlement, in the form and with the content accepted by the Bank (original documents or legalized copy). 4.11. The Bank shall be notified in writing, immediately, by any interested party or by the guardian of the Customer, in case of the latter’s incapacity. The Bank is considered to be notified about the incapacity when it receives the final and enforceable court decision of the competent court of law which orders the interdiction, transcribed in the especially assigned register of the court which has jurisdiction over the location where the Customer’s document of birth was registered, and the document issued by the guardianship authority whereby a guardian is appointed (both of these original documents or legalized copies). 4.12. The Bank shall be notified in writing, immediately, by the Customer, its guardian or any interested party if the guardianship authority has appointed a guardian for managing and defending the Customer’s interests, in the cases and under the conditions provided by the law. The Bank is considered to be notified about this when it receives the document issued by the guardianship authority whereby the guardian is appointed, as original document or as a legalized copy. The guardian may perform operations on behalf of and for the Customer only if expressly 4.13. In case the Bank takes note in any manner of the occurrence of divergences / conflicts / disputes of any nature between the co-holders, between the Authorized persons or between them and the Holder / Co-holders, with the scope of performing account operations, the Bank is entitled to suspend for unlimited time the performance of any instruction (including, without limitation, account payment instructions by third parties, and instructions under any specific contract concluded with the Bank etc.) until the clarification of the situation based on documents in a form and with a content deemed satisfactory by the Bank, unless there are mandatory legal provisions to the contrary. Each of the Holder, Co-Holders and the Authorized Persons has the obligation to promptly inform the Bank, as soon as any judicial/extrajudicial dispute arises between the Holder, Co-Holders, Authorized Persons or their successors, that may affect the right to perform the operations referred to under this Contract. If in a reasonable period of time the situation is not clarified, the Bank may decide the termination of contractual relations. The Customer exonerates the Bank of any liability for any losses the Customer could incur following the termination of contractual relations. 4.14. The holder undertakes toward the Bank to inform the Authorized persons to operate on its account about this Contract, being liable jointly and severally with the authorized persons for the damages incurred by the failure to comply with it. 4.15. In order to execute the powers of attorney received from the Customer, the Bank may mandate, in turn, one of its subsidiaries, a corresponding credit institution, or any other credit institution or third party which, according to the law, is able to perform the obligations of the Bank.

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon opening the account / accounts, the Holder is bound to fill in the signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits granted to the persons Authorized to represent the account holder and to order transactions on behalf of and for its account. 4.2. If upon opening the account, and upon subsequent empowerment by the Holder under the above- above-mentioned point 4.1, paragraph 2, the authorized Person is not present to submit the signature specimen in front of the Holder and of the Bank employee, the Holder shall indicate in the Application/authorized signature file the authorized Person’s identification data and competence limits, and the authorized person shall submit the signature specimen before performing the first transaction. 4.3. The signature specimen of each Person authorized to operate the account shall be completed in the presence of a Bank employee from the unit where thethe account was opened, or it shall be authenticated at a notary public office according to the legislation in force (if necessary, also supra-legalizated/apostilled). 4.4. Except for the provision under section 4.5, the Bank shall perform any transaction only under the signature specimens from the Authorized signatures file. The Bank shall not be liable for the authenticity of the signatures applied on the documents and on the payment instructions submitted to the Bank. The Bank shall consider that the signatures are authentic as long as they have an appearance of conformity with those from the Authorized signatures file. 4.5. In exceptional cases, the Bank may accept cash withdrawals from the Holder’s account also by third parties authorized by the Account, under a special mandate granted for such operations the Bank reserving the right to refuse to perform the operation. 4.6. The Customer is obligated to previously inform the Bank on any restrictions, competence limitations or conditions regarding the Authorized persons. In the absence of such information, the Bank shall consider that the Authorized persons are fully and separately entitled to issue orders on behalf of and for the account of the Customer. The revocation, modification of limits or replacement of the authorized person (s) may be performed by the holder by any of the methods provided in this Contract for granting the power of attorney. 4.7. Any power of representation granted by the Customer and/or order received by the Bank from the Customer, and the subsequent modifications thereof, shall be considered valid until their written revocation, even in the cases in which such revocations/modifications were made public according to the effective legislation. The power of attorney or its revocation or modification become effective on the next Business Day after the one on which the Bank receives the documents for the revocation, modification or replacement of the Authorized person. The Customer must notify the Bank, in writing and with no delay, any modification occurred in relation with the Authorized persons, and any modification of its status and/or legal status.Authorized 4.8. Any limitation of representation attributions or of the power of attorney for operating the account must be notified to the Bank by the Holder, in order to be enforceable. In the absence of such notifications, the Bank shall not be obligated to take into consideration these limitations and shall not be liable for the prejudices caused by unauthorized operations. 4.9. In case of the account Xxxxxx’s death or, as the case may be, its incapacitation, the Authorized persons’ right to operate the account is legally terminated. 4.10. The Bank is considered to have been notified about the Holder’s death if it is expressly notified, either by a notification from a competent notary public or by the submittal to the registry of the Bank by any interested third party of a written notification, with the decease document attached (original document or a legalized copy). Until the distribution of assets, the heirs are considered co-holders of the account, and the consent of all co-holders is necessary for performing operations. After the distribution, the amounts from the account shall be released to the heirs based on and in virtue of the shares set by the asset distribution document issued under the conditions of law. Co-heirs are jointly bound towards the Bank, for the holder’s debit account. 4.10.1. The persons who have acquired the right to dispose of the existing amounts into accounts opened at the Bank may exercise this right only after submitting the documents proving the entitlement, in the form and with the content accepted by the Bank (original documents or legalized copy). 4.11. The Bank shall be notified in writing, immediately, by any interested party or by the guardian of the Customer, in case of the latter’s incapacity. The Bank is considered to be notified about the incapacity when it receives the final and enforceable court decision of the competent court of law which orders the interdiction, transcribed in the especially assigned register of the court which has jurisdiction over the location where the Customer’s document of birth was registered, and the document issued by the guardianship authority whereby a guardian is appointed (both of these original documents or legalized copies).is 4.12. The Bank shall be notified in writing, immediately, by the Customer, its guardian or any interested party if the guardianship authority has appointed a guardian for managing and defending the Customer’s interests, in the cases and under the conditions provided by the law. The Bank is considered to be notified about this when it receives the document issued by the guardianship authority whereby the guardian is appointed, as original document or as a legalized copy. The guardian may perform operations on behalf of and for the Customer only if expresslyexpressly mandated to operate the account and within the limits clearly defined by the guardianship authority in the guardian appointment document. The guardian shall submit its signature specimen in the presence of a Bank employee from the unit where the account was opened or legalized by a notary office in virtue of the effective legislation (with an apostille, as the case may be), before performing the first operation. 4.13. In case the Bank takes note in any manner of the occurrence of divergences / conflicts / disputes of any nature between the co-holders, between the Authorized persons or between them and the Holder / Co-holders, with the scope of performing account operations, the Bank is entitled to suspend for unlimited time the performance of any instruction (including, without limitation, account payment instructions by third parties, and instructions under any specific contract concluded with the Bank etc.) until the clarification of the situation based on documents in a form and with a content deemed satisfactory by the Bank, unless there are mandatory legal provisions to the contrary. Each of the Holder, Co-Holders and the Authorized Persons has the obligation to promptly inform the Bank, as soon as any judicial/extrajudicial dispute arises between the Holder, Co-Holders, Authorized Persons or their successors, that may affect the right to perform the operations referred to under this Contract. If in a reasonable period of time the situation is not clarified, the Bank may decide the termination of contractual relations. The Customer exonerates the Bank of any liability for any losses the Customer could incur following the termination of contractual relations. 4.14. The holder undertakes toward the Bank to inform the Authorized persons to operate on its account about this Contract, being liable jointly and severally with the authorized persons for the damages incurred by the failure to comply with it. 4.15. In order to execute the powers of attorney received from the Customer, the Bank may mandate, in turn, one of its subsidiaries, a corresponding credit institution, or any other credit institution or third party which, according to the law, is able to perform the obligations of the Bank.

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon Except for the account opened online, upon opening the account / accounts, the Holder is bound to fill in the authorized signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits the rights granted to the persons Authorized under the power of attorney to represent the account holder and to order transactions on behalf of and for its account. 4.2. If upon opening the account, and upon subsequent empowerment by the Holder under the above- mentioned point 4.1, paragraph 2, the authorized Person is not present to submit the signature specimen in front of the Holder and of the Bank employee, the Holder shall indicate in the Application/authorized signature file the authorized Person’s identification data and competence limits, and the authorized person shall submit the signature specimen before performing the first transaction. 4.3. The signature specimen of each Person authorized to operate the account shall be completed in the presence of a Bank employee from the unit where thethe account was opened, or it shall be authenticated at a notary public office or by diplomatic missions or by consular offices of Romania and as a case may be according to the legislation in force (if necessary, also supra-notarized/apostilled). 4.4. Except for the provision under section 4.5, the Bank shall perform any transaction only under the signature specimens from the Authorized signatures filefile or legalized ones. The Bank shall not be liable for the authenticity of the signatures applied on the documents and on the payment instructions submitted to the Bank. The Bank shall consider that the signatures are authentic as long as they have an appearance of conformity with those from the Authorized signatures file. 4.5. In exceptional cases, the Bank may accept cash withdrawals from the Holder’s account also by third parties authorized by the Account, under a special mandate granted for such operations the Bank reserving the right to refuse to perform the operation. 4.6. The Customer is obligated to previously inform the Bank on any restrictions, competence limitations or conditions regarding the Authorized persons. In the absence of such information, the Bank shall consider that the Authorized persons are fully and separately entitled to issue orders on behalf of and for the account of the Customer. The revocation, modification of limits or replacement of the authorized person (s) may be performed by the holder by any of the methods provided in this Contract for granting the power of attorney. 4.7. Any power of representation granted by the Customer and/or order received by the Bank from the Customer, and the subsequent modifications thereof, shall be considered valid until their written revocation, even in the cases in which such revocations/modifications were made public according to the effective legislation. The power of attorney or its revocation or modification become effective on the next Business Day after the one on which the Bank receives the documents for the revocation, modification or replacement of the Authorized person. The Customer must notify the Bank, in writing and with no delay, any modification occurred in relation with the Authorized persons, and any modification of its status and/or legal status. 4.8. Any limitation of representation attributions or of the power of attorney for operating the account must be notified to the Bank by the Holder, in order to be enforceable. In the absence of such notifications, the Bank shall not be obligated to take into consideration these limitations and shall not be liable for the prejudices caused by unauthorized operations.consideration 4.9. In case of the account Xxxxxx’s death or, as the case may be, its incapacitation, the Authorized persons’ right to operate the account is legally terminated. 4.10. The Bank is considered to have been notified about the Holder’s death if it is this fact was expressly notifiednotified to it, either by a original notification from a competent notary public public, issued within the notarial succession procedure, either by address letter in the original issued by the National/County Public Pension House or the Sectorial Pension House of MaPN/MAI based on the working agreements signed between them and the Bank, or by the submittal to the registry of the Bank by any interested third party of a written notification, with the decease document attached (original document or a legalized copy). Until the distribution of assets, the heirs are considered co-holders of the account, and the consent of all co-holders is necessary for performing operations. After the distribution, the amounts from the account shall be released to the heirs based on and in virtue of the shares set by the asset distribution document issued under the conditions of law. Co-heirs are jointly bound towards the Bank, for the holder’s debit account. The personal creditor of one of the co-heirs cannot enforce by garnishment the credit balance of the joint account. The respective creditor can only request the distribution of assets. In case of the death of one of the Co-holders, the surviving Co-holder shall continue to be responsible for all the obligations owed to the Bank by the deceased Co-holder, created before the Bank was notified of the death. 4.10.1. The persons who have acquired the right to dispose of the existing amounts into accounts opened at the Bank may exercise this right only after submitting the documents proving the entitlement, in the form and with the content accepted by the Bank (original documents or legalized copy). 4.11. The Bank shall be notified in writing, immediately, by any interested party or by the guardian of the Customer, in case of the latter’s incapacity. The Bank is considered to be notified about the incapacity when it receives the final and enforceable court decision of the competent court of law which orders the interdiction, transcribed in the especially assigned register of the court which has jurisdiction over the location where the Customer’s document of birth was registered, and the document issued by the guardianship authority whereby a guardian is appointed (both of these original documents or legalized copies). 4.12. The Bank shall be notified in writing, immediately, by the Customer, its guardian or any interested party if the guardianship authority has appointed a guardian for managing and defending the Customer’s interests, in the cases and under the conditions provided by the law. The Bank is considered to be notified about this when it receives the document issued by the guardianship authority whereby the guardian is appointed, as original document or as a legalized copy. The guardian may perform operations on behalf of and for the Customer only if expresslyexpressly mandated to operate the account and within the limits clearly defined by the guardianship authority in the guardian appointment document. The guardian shall submit its signature specimen in the presence of a Bank employee from the unit where the account was opened or legalized by a notary office in virtue of the effective legislation (with an apostille, as the case may be), before performing the first operation. 4.13. In case the Bank takes note in any manner of the occurrence of divergences / conflicts / disputes of any nature between the co-holders, between the Authorized persons or between them and the Holder / Co-holders, with the scope of performing account operations, the Bank is entitled to suspend for unlimited time the performance of any instruction (including, without limitation, account payment instructions by third parties, and instructions under any specific contract concluded with the Bank etc.) until the clarification of the situation based on documents in a form and with a content deemed satisfactory by the Bank, unless there are mandatory legal provisions to the contrary. Each of the Holder, Co-Holders and the Authorized Persons has the obligation to promptly inform the Bank, as soon as any judicial/extrajudicial dispute arises between the Holder, Co-Holders, Authorized Persons or their successors, that may affect the right to perform the operations referred to under this Contract. If in a reasonable period of time the situation is not clarified, the Bank may decide the termination of contractual relations. The Customer exonerates the Bank of any liability for any losses the Customer could incur following the termination of contractual relations. 4.14. The holder undertakes toward the Bank to inform the Authorized persons to operate on its account about this Contract, being liable jointly and severally with the authorized persons for the damages incurred by the failure to comply with it. 4.15. In order to execute the powers of attorney received from the Customer, the Bank may mandate, in turn, one of its subsidiaries, a corresponding credit institution, or any other credit institution or third party which, according to the law, is able to perform the obligations of the Bank.

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon opening the account / accounts, the Holder is bound to fill in the signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits granted to the persons Authorized to represent the account holder and to order transactions on behalf of and for its account. 4.2. If upon opening the account, and upon subsequent empowerment by the Holder under the above- above-mentioned point 4.1, paragraph 2, the authorized Person is not present to submit the signature specimen in front of the Holder and of the Bank employee, the Holder shall indicate in the Application/authorized signature file the authorized Person’s identification data and competence limits, and the authorized person shall submit the signature specimen before performing the first transaction. 4.3. The signature specimen of each Person authorized to operate the account shall be completed in the presence of a Bank employee from the unit where thethe account was opened, or it shall be authenticated at a notary public office according to the legislation in force (if necessary, also supra-legalizated/apostilled). 4.4. Except for the provision under section 4.5, the Bank shall perform any transaction only under the signature specimens from the Authorized signatures file. The Bank shall not be liable for the authenticity of the signatures applied on the documents and on the payment instructions submitted to the Bank. The Bank shall consider that the signatures are authentic as long as they have an appearance of conformity with those from the Authorized signatures file. 4.5. In exceptional cases, the Bank may accept cash withdrawals from the Holder’s account also by third parties authorized by the Account, under a special mandate granted for such operations the Bank reserving the right to refuse to perform the operation. 4.6. The Customer is obligated to previously inform the Bank on any restrictions, competence limitations or conditions regarding the Authorized persons. In the absence of such information, the Bank shall consider that the Authorized persons are fully and separately entitled to issue orders on behalf of and for the account of the Customer. The revocation, modification of limits or replacement of the authorized person (s) may be performed by the holder by any of the methods provided in this Contract for granting the power of attorney. 4.7. Any power of representation granted by the Customer and/or order received by the Bank from the Customer, and the subsequent modifications thereof, shall be considered valid until their written revocation, even in the cases in which such revocations/modifications were made public according to the effective legislation. The power of attorney or its revocation or modification become effective on the next Business Day after the one on which the Bank receives the documents for the revocation, modification or replacement of the Authorized person. The Customer must notify the Bank, in writing and with no delay, any modification occurred in relation with the Authorized persons, and any modification of its status and/or legal status. 4.8. Any limitation of representation attributions or of the power of attorney for operating the account must be notified to the Bank by the Holder, in order to be enforceable. In the absence of such notifications, the Bank shall not be obligated to take into consideration these limitations and shall not be liable for the prejudices caused by unauthorized operations. 4.9. In case of the account Xxxxxx’s death or, as the case may be, its incapacitation, the Authorized persons’ right to operate the account is legally terminated. 4.10. The Bank is considered to have been notified about the Holder’s death if it is expressly notified, either by a notification from a competent notary public or by the submittal to the registry of the Bank by any interested third party of a written notification, with the decease document attached (original document or a legalized copy). Until the distribution of assets, the heirs are considered co-holders of the account, and the consent of all co-holders is necessary for performing operations. After the distribution, the amounts from the account shall be released to the heirs based on and in virtue of the shares set by the asset distribution document issued under the conditions of law. Co-heirs are jointly bound towards the Bank, for the holder’s debit account. 4.10.1. The persons who have acquired the right to dispose of the existing amounts into accounts opened at the Bank may exercise this right only after submitting the documents proving the entitlement, in the form and with the content accepted by the Bank (original documents or legalized copy).content 4.11. The Bank shall be notified in writing, immediately, by any interested party or by the guardian of the Customer, in case of the latter’s incapacity. The Bank is considered to be notified about the incapacity when it receives the final and enforceable court decision of the competent court of law which orders the interdiction, transcribed in the especially assigned register of the court which has jurisdiction over the location where the Customer’s document of birth was registered, and the document issued by the guardianship authority whereby a guardian is appointed (both of these original documents or legalized copies). 4.12. The Bank shall be notified in writing, immediately, by the Customer, its guardian or any interested party if the guardianship authority has appointed a guardian for managing and defending the Customer’s interests, in the cases and under the conditions provided by the law. The Bank is considered to be notified about this when it receives the document issued by the guardianship authority whereby the guardian is appointed, as original document or as a legalized copy. The guardian may perform operations on behalf of and for the Customer only if expresslyexpressly mandated to operate the account and within the limits clearly defined by the guardianship authority in the guardian appointment document. The guardian shall submit its signature specimen in the presence of a Bank employee from the unit where the account was opened or legalized by a notary office in virtue of the effective legislation (with an apostille, as the case may be), before performing the first operation. 4.13. In case the Bank takes note in any manner of the occurrence of divergences / conflicts / disputes of any nature between the co-holders, between the Authorized persons or between them and the Holder / Co-holders, with the scope of performing account operations, the Bank is entitled to suspend for unlimited time the performance of any instruction (including, without limitation, account payment instructions by third parties, and instructions under any specific contract concluded with the Bank etc.) until the clarification of the situation based on documents in a form and with a content deemed satisfactory by the Bank, unless there are mandatory legal provisions to the contrary. Each of the Holder, Co-Holders and the Authorized Persons has the obligation to promptly inform the Bank, as soon as any judicial/extrajudicial dispute arises between the Holder, Co-Holders, Authorized Persons or their successors, that may affect the right to perform the operations referred to under this Contract. If in a reasonable period of time the situation is not clarified, the Bank may decide the termination of contractual relations. The Customer exonerates the Bank of any liability for any losses the Customer could incur following the termination of contractual relations. 4.14. The holder undertakes toward the Bank to inform the Authorized persons to operate on its account about this Contract, being liable jointly and severally with the authorized persons for the damages incurred by the failure to comply with it. 4.15. In order to execute the powers of attorney received from the Customer, the Bank may mandate, in turn, one of its subsidiaries, a corresponding credit institution, or any other credit institution or third party which, according to the law, is able to perform the obligations of the Bank.