Common use of Telephone Recording Acknowledgment of and Authorization for Telephone Recordings Clause in Contracts

Telephone Recording Acknowledgment of and Authorization for Telephone Recordings. The Custodian reserves the right to install and/or maintain automatic telephone recording equipment on telephone lines used by personnel servicing the Custodial Account. By signing this Agreement, the Depositor acknowledges the Custodian’s rights and expressly authorize the Custodian to record, play back and use for the Custodian’s interest any and all telephone calls between the Depositor, the Depositor’s agents and/or designated beneficiaries and the Custodian.