Sponsored Accounts. Each MPF Bank shall establish a Sponsored Account for each Additional Product type of which its PFI is a Servicer of the Provider Program Loans delivered under an Additional Product MC. An MTA Addendum specific to the particular Additional Product shall be signed by such MPF Bank and the MPF Provider, and joined in by such MPF Bank’s PFI, as a condition of the PFI activating the respective Additional Product MC. Every Sponsored Account will be a non- interest bearing custodial principal and interest account for the benefit of the PFI pursuant to the respective MTA Addendum. Any overdraft of a Sponsored Account shall be governed by the applicable MTA Addendum and any costs or fees associated with the Sponsored Account are payment obligations of the MPF Bank and such payments will be effectuated pursuant to Section 5.5.
Sponsored Accounts a. If you are over the age of 28, you may, in Cash App's sole discretion, authorize the usage of Card Accounts and Cards for up to four (4) people who are over the age of 13 years old (each such individual, a “Sponsored Person” and each such Account, a “Sponsored Account”). To authorize a Sponsored Account, you must either (1) be the Sponsored Person's biological or adoptive parent, or (2) be the Sponsored Person’s guardian (as defined below). For purposes of this agreement, a “guardian” is defined as (i) a legal guardian, (ii) a xxxxxx parent, (iii) a stepparent who resides in the same household as the Sponsored Person, or (iv) a grandparent who resides in the same household as the Sponsored Person. You will be required to attest to your relationship with the Sponsored Person. Cash App may also require additional verification and qualifications, and may decline, or revoke at any time, authorization in its sole discretion. You acknowledge that the terms of this Agreement will apply to you with respect to each Card Account you authorize for a Sponsored Person, and you hereby expressly accept this Agreement on behalf of yourself and each Sponsored Person. You agree to and accept full responsibility and liability for any Sponsored Person's use of a Card Account or Card, including but not limited to (a) any transactions made on their Card Account or with their Card; (b) any transaction made by a Sponsored Person even if the post date shown on your Cash App statement (pursuant to the Cash App Terms of Service) for the debit relating to that transaction occurs after the date you tell us you have revoked your authorization for such Sponsored Person; (c) fees and charges resulting from any transaction made on their Card Account or with their Card; and (d) any other claims or liabilities, including tax, that may be incurred in connection with the use of a Card Account or Card. You allow us to discuss the Card Account with a Sponsored Person. By authorizing a Sponsored Person, you represent that you have permission from each one to allow us to share information about him or her as allowed by applicable law. This includes information we may get from you, any Sponsored Person, and information about their transactions and use of a Card Account or Card.
