Common use of Use of Passwords Clause in Contracts

Use of Passwords. You agree that Valley Premier Bank may act on any instructions we receive under your password. You also agree that you are bound by those instructions, regardless of whether you have authorized the instructions, and regardless of the number of signatures or authorization you require for withdrawals or transfers from your Account. If you are a business, you agree that the password security described in this Agreement sets forth security procedures for electronic fund transfers that are commercially reasonable. For payment requests from business accounts that are subject to Article 4A of the Uniform Commercial Code (“UCC 4A”), Valley Premier Bank is liable only for damages required to be paid under that law. In no event (except as may be required by law) will Valley Premier Bank be liable for any special, indirect or consequential loss, damage, costs or expense of any nature, including, without limitation, loss profits, even if we have been informed of the possibility of such damages. If you send the Bank an email message, the Bank will be deemed to have received it on the following business day. You should not rely on email if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur.