Common use of SOLIDARITY Clause in Contracts

SOLIDARITY. Unless expressly agreed with THE BANK otherwise, when two or more persons contract or perform a transaction with THE BANK, it shall be understood that they act jointly. In consequence, all of them shall be jointly and severally liable for their obligations to THE BANK. In addition, any of the contractors may act individually against the BANK to give instructions or orders, receive payments and notifications, make confirmations, give or receive notices, accept statements of account, and other similar activities, being such acts mandatory for others.

SOLIDARITY. Unless expressly agreed with THE BANK otherwiseto the contrary, when two or more persons contract or perform make a transaction with THE BANK, it shall be understood that they act jointlyin solidarity with it. In consequenceConsequently, all of them shall will be jointly and severally liable for their obligations to THE BANK. In addition, any of the contractors may act individually against the BANK to give instructions or orders, receive payments and notifications, make confirmations, give or receive notices, accept statements of account, and other similar activities, being such acts mandatory obligatory for others.