Common use of Upon receipt by the Bank Clause in Contracts

Upon receipt by the Bank. of a Request in respect of an employee, the Bank will issue a Card on the Member Account to the employee, embossed with the name of the employee (the “Cardholder”) and the Member’s name and/or identifier. The Bank may issue renewal, replacement or temporary replacement cards for any Card from time to time. In addition, at the Member’s request, the Bank may issue each Cardholder a personal identification number (a “PIN”) enabling the Cardholder to use the Card at automated teller machines (“ATMs”) accessible with the Card to obtain cash advances and effect transactions on the Member Account. The Member shall instruct each Cardholder not to disclose the Cardholder’s PIN to any other person. Transaction records issued by an ATM are solely for the Member’s convenience and in the event of any dispute as to the accuracy of such records, the Bank’s internal records are presumptively correct and Member must establish by clear and convincing evidence that such records are in error.