Common use of Account Operations Clause in Contracts

Account Operations. Tenant shall have sole discretion to accept or reject new accounts and to thereafter retain or close opened accounts for any reason, including but not limited to, regulatory compliance issues, account balance and account activity. The applicant applying for Tenant’s products and services during the Term shall be solely responsible for directly providing all information required for the establishment and maintenance of the relationship between Tenant and the customer. Because an applicant’s Internet protocol (IP Address) is important to fraud detection, the parties agree that all accounts opened by applicants originated by Digitlord pursuant to this Agreement shall be required to manually complete applications to open new accounts and that the parties shall cooperate with one another to insure that no accounts are opened on an automated or bulk basis. Tenant shall identify and administer all accounts established and maintained through the Website and shall provide such accounting and other permitted information to Digitlord about such accounts as may be necessary to verify the calculation of Rent pursuant to Paragraph 4. Digitlord shall have the right from time to time at its expense to audit Tenant’s books and records for the purpose of confirming the calculation of the Rent pursuant to Paragraph 4, subject to compliance with applicable law and regulation, including privacy laws. The parties understand that independent auditors may be required to perform such an audit. Digitlord covenants, represents and warrants that during the Term, Digitlord shall not, unless it shall have first obtained Tenant’s written approval, compensate, directly or indirectly, any applicant for applying for any products and services offered by Tenant through its Graphic Presentations on the Website, including but not limited to deposit accounts. Notwithstanding the foregoing, Digitlord shall have the right to provide premiums, such as merchandise certificates or discount coupons, to applicants applying for Tenant’s Products on the Websites. All inquiries from customers who have established an account through the Website and, in particular, who make inquiries regarding account balances and other inquiries requiring transmission to such customer of confidential information, shall be handled solely by Tenant.