Common use of Third Party Authorization Clause in Contracts

Third Party Authorization. A power of attorney is a legal document delegating authority from one person to another. The maker of a power of attorney (the “principal”) grants an agent or agents the right to act on the principal’s behalf. The Private Investor has the right to submit a request for authorization for a third person to place Instructions and/or Orders to the Company on its behalf or to handle any other matters related to the Private Investor Account or this Agreement. The Company is required to consider the Private Investor’s request and accept or reject the power of attorney within a reasonable time. The power of attorney may be rejected by the Company should the Company consider that the power of attorney or the agent’s authority is invalid, improperly executed, void, suspended, or terminated, and/or there is a suspicion or evidence to suggest that the agent is or may be abusing or improperly executing his powers and/or is not acting in the interests of the Private Investor.