Common use of ACCESS TERMINAL TRANSACTIONS Clause in Contracts

ACCESS TERMINAL TRANSACTIONS. The Trustee acknowledges and agrees that: a) using a Password to authorize a Transaction constitutes authorization of that Transaction in the same manner as if authorization was given by the Trustee in person or as otherwise contemplated or permitted by the Account Contract; b) the Trustee will be bound by each such Transaction; and c) once a Password has been used to authorize a Transaction, the Transaction may not be revoked and no stop payment on the Transaction may be requested.

ACCESS TERMINAL TRANSACTIONS. The Trustee Member acknowledges and agrees that: a) using a Password to authorize a Transaction constitutes authorization of that Transaction in the same manner as if authorization was given by the Trustee Member in person or as otherwise contemplated or permitted by the Account Contract; b) the Trustee Member will be bound by each such Transaction; and c) once a Password has been used to authorize a Transaction, the Transaction may not be revoked and no stop payment on the Transaction may be requested.