Common use of Separate Liability Clause in Contracts

Separate Liability. Each of you is individually liable, and all of you are jointly liable (or in Quebec, solidarily liable), to pay us any amounts that any of you may owe in respect of the account and the Agreement. • Notices/Statements. We need not send account notices or statements to all of you. Notices and statements will be effective and binding on all of you when they are provided to any one of you at the branch of account, or by electronic means (which may include posting a notice on online banking), or when they are sent to any one of you at his/her latest address in the branch of account's records. Any one of you may consent to receiving notices and statements by electronic means and such consent is binding on all of you. • Communications/Instructions. We may communicate with any one of you about joint account matters. If you indicated on the Signature Card, or otherwise in writing, that any one of you can deal with us, then any one of you may instruct us regarding the operation of the joint account including transferring the joint account from the branch of account to another CIBC branch, changing the joint account address in the branch of account's records, or closing the joint account. All joint accountholders must consent to any changes in ownership of the account. • Sharing Information. Each of you may be provided account information including transactions and account related information of the other joint accountholder(s). This includes information about the account prior to it becoming a joint account. • Debits. If you indicated on the Signature Card, or otherwise in writing, that debits can be made by one of you, then we will debit the account for any cheque, receipt or other voucher which is signed by any one of you and any one of you may debit the account by any other means which we may permit from time to time (including electronically, orally, or by telephone). Each of you is responsible for any unauthorized debit which may occur by any of these means, to the extent provided in any agreement governing that method of debit. • Deposits. We may deposit to the joint account all cheques which are payable to, or for the credit or account of, any one or more of you, even if they are not endorsed by any of you. • Joint Tenancy (not applicable if any one of you is resident in Quebec at the time of his/her death). All money which is now or may later be credited to the account (including all interest) is the joint property of all of you with the “right of survivorship”. That means that if one of you dies, all money in the joint account automatically becomes the property of the surviving accountholder(s). To make this legally effective, all of you assign such money to the other (or to the others jointly if there are more than two of you). After your death, we will only have obligations to the surviving accountholder(s), and anyone else making a claim against the joint account after your death must deal with the surviving accountholder(s). On the death of any accountholder, and upon notification with proof of death, we will remove the deceased accountholder’s name from the account. The surviving accountholders undertake to ensure that any EFT payment that is credited to the account and to which the surviving accountholders are not entitled, or that is intended to be credited to the benefit of the deceased accountholder, is, as applicable:

Separate Liability. Each of you is individually liable, and all of you are jointly liable (or in Quebec, solidarily liable), to pay us any amounts that any of you may owe in respect of the account and the Agreement. • Notices/Statements. We need not send account notices or statements to all of you. Notices and statements will be effective and binding on all of you when they are provided to any one of you at the branch of account, or by electronic means (which may include posting a notice on online banking), or when they are sent to any one of you at his/her latest address in the branch of account's ’s records. Any one of you may consent to receiving notices and statements by electronic means and such consent is binding on all of you. • Communications/Instructions. We may communicate with any one of you about joint account matters. If you indicated on the Signature Card, or otherwise in writing, that any one of you can deal with us, then any one of you may instruct us regarding the operation of the joint account including transferring the joint account from the branch of account to another CIBC branch, changing the joint account address in the branch of account's ’s records, or closing the joint account. All joint accountholders must consent to any changes in ownership of the account. • Sharing Information. Each of you may be provided account information including transactions and account related information of the other joint accountholder(s). This includes information about the account prior to it becoming a joint account. • Debits. If you indicated on the Signature Card, or otherwise in writing, that debits can be made by one of you, then we will debit the account for any cheque, receipt or other voucher which is signed by any one of you and any one of you may debit the account by any other means which we may permit from time to time (including electronically, orally, or by telephone). Each of you is responsible for any unauthorized debit which may occur by any of these means, to the extent provided in any agreement governing that method of debit. • Deposits. We may deposit to the joint account all cheques which are payable to, or for the credit or account of, any one or more of you, even if they are not endorsed by any of you. • Joint Tenancy (not applicable if any one of you is resident in Quebec at the time of his/her death). All money which is now or may later be credited to the account (including all interest) is the joint property of all of you with the “right of survivorship”. That means that if one of you dies, all money in the joint account automatically becomes the property of the surviving accountholder(s). To make this legally effective, all of you assign such money to the other (or to the others jointly if there are more than two of you). After your death, we will only have obligations to the surviving accountholder(s), and anyone else making a claim against the joint account after your death must deal with the surviving accountholder(s). On We will not recognize any arrangement that requires us to pay the money in the account on death of an accountholder to anyone other than a surviving accountholder. We are not required to act in accordance with any accountholder, and upon notification trust intended or granted by you with proof of death, we will remove the deceased accountholder’s name from the account. The surviving accountholders undertake to ensure that any EFT payment that is credited respect to the account or any monies in it, even if we are aware of such trust, and to which this binds your estate and any beneficiary of such trust. • Legal Representative. All of you consent that the surviving accountholders are not entitled, or that is intended to be credited legal representative of a joint accountholder has the same right of access to the benefit joint account as the joint accountholder. We may rely on a legal representative who is acting for any one of the deceased accountholder, is, as applicable:you.

Separate Liability. Each of you is individually liable, and all of you are jointly liable (or in Quebec, solidarily liable), to pay us any amounts that any of you may owe in respect of the account and the Agreement. • Notices/Statements. We need not send account notices or statements to all of you. Notices and statements will be effective and binding on all of you when they are provided to any one of you at the branch of account, or by electronic means (which may include posting a notice on online banking), or when they are sent to any one of you at his/her latest address in the branch of account's records. Any one of you may consent to receiving notices and statements by electronic means and such consent is binding on all of you. • Communications/Instructions. We may communicate with any one of you about joint account matters. If you indicated on the Signature Card, or otherwise in writing, that any one of you can deal with us, then any one of you may instruct us regarding the operation of the joint account including transferring the joint account from the branch of account to another CIBC branch, changing the joint account address in the branch of account's records, or closing the joint account. All joint accountholders must consent to any changes in ownership of the account. • Sharing Information. Each of you may be provided account information including transactions and account related information of the other joint accountholder(s). This includes information about the account prior to it becoming a joint account. • Debits. If you indicated on the Signature Card, or otherwise in writing, that debits can be made by one of you, then we will debit the account for any cheque, receipt or other voucher which is signed by any one of you and any one of you may debit the account by any other means which we may permit from time to time (including electronically, orally, or by telephone). Each of you is responsible for any unauthorized debit which may occur by any of these means, to the extent provided in any agreement governing that method of debit. • Deposits. We may deposit to the joint account all cheques which are payable to, or for the credit or account of, any one or more of you, even if they are not endorsed by any of you. • Joint Tenancy (not applicable if any one of you is resident in Quebec at the time of his/her death). All money which is now or may later be credited to the account (including all interest) is the joint property of all of you with the “right of survivorship”. That means that if one of you dies, all money in the joint account automatically becomes the property of the surviving accountholder(s). To make this legally effective, all of you assign such money to the other (or to the others jointly if there are more than two of you). After your death, we will only have obligations to the surviving accountholder(s), and anyone else making a claim against the joint account after your death must deal with the surviving accountholder(s). On We will not recognize any arrangement that requires us to pay the money in the account on death of an accountholder to anyone other than a surviving accountholder. We are not required to act in accordance with any accountholder, and upon notification trust intended or granted by you with proof of death, we will remove the deceased accountholder’s name from the account. The surviving accountholders undertake to ensure that any EFT payment that is credited respect to the account or any monies in it, even if we are aware of such trust, and to which this binds your estate and any beneficiary of such trust. • Legal Representative. All of you consent that the surviving accountholders are not entitled, or that is intended to be credited legal representative of a joint accountholder has the same right of access to the benefit joint account as the joint accountholder. We may rely on a legal representative who is acting for any one of the deceased accountholder, is, as applicable:you.

Separate Liability. Each of you is individually liable, and all of you are jointly liable (or in Quebec, solidarily liable), to pay us any amounts that any of you may owe in respect of the account and the Agreement. Agreement • Notices/Statements. We need not send account notices or statements to all of you. you Notices and statements will be effective and binding on all of you when they are provided to any one of you at the branch of account, or by electronic means (which may include posting a notice on online banking), or when they are sent to any one of you at his/her latest address in the branch of account's records. ’s records Any one of you may consent to receiving notices and statements by electronic means and such consent is binding on all of you. you • Communications/Instructions. We may communicate with any one of you about joint account matters. matters If you indicated on the Signature Card, or otherwise in writing, that any one of you can deal with us, then any one of you may instruct us regarding the operation of the joint account including transferring the joint account from the branch of account to another CIBC branch, changing the joint account address in the branch of account's ’s records, or closing the joint account. account All joint accountholders must consent to any changes in ownership of the account. account • Sharing Information. Each of you may be provided account information including transactions and account related information of the other joint accountholder(s). ) This includes information about the account prior to it becoming a joint account. account • Debits. If you indicated on the Signature Card, or otherwise in writing, that debits can be made by one of you, then we will debit the account for any cheque, receipt or other voucher which is signed by any one of you and any one of you may debit the account by any other means which we may permit from time to time (including electronically, orally, or by telephone). ) Each of you is responsible for any unauthorized debit which may occur by any of these means, to the extent provided in any agreement governing that method of debit. debit • Deposits. We may deposit to the joint account all cheques which are payable to, or for the credit or account of, any one or more of you, even if they are not endorsed by any of you. you • Joint Tenancy (not applicable if any one of you is resident in Quebec at the time of his/her death). ) All money which is now or may later be credited to the account (including all interest) is the joint property of all of you with the “right of survivorship”. ” That means that if one of you dies, all money in the joint account automatically becomes the property of the surviving accountholder(s). ) To make this legally effective, all of you assign such money to the other (or to the others jointly if there are more than two of you). ) After your death, we will only have obligations to the surviving accountholder(s), and anyone else making a claim against the joint account after your death must deal with the surviving accountholder(s). On ) We will not recognize any arrangement that requires us to pay the money in the account on death of an accountholder to anyone other than a surviving accountholder We are not required to act in accordance with any accountholder, and upon notification trust intended or granted by you with proof of death, we will remove the deceased accountholder’s name from the account. The surviving accountholders undertake to ensure that any EFT payment that is credited respect to the account or any monies in it, even if we are aware of such trust, and to which this binds your estate and any beneficiary of such trust • Legal Representative. All of you consent that the surviving accountholders are not entitled, or that is intended to be credited legal representative of a joint accountholder has the same right of access to the benefit joint account as the joint accountholder We may rely on a legal representative who is acting for any one of the deceased accountholder, is, as applicable:you