Common use of Execution of Bankers’ Acceptances Clause in Contracts

Execution of Bankers’ Acceptances. Bankers' acceptances of the Company which are endorsed in blank and are to be accepted as Bankers' Acceptances hereunder shall be signed by a duly authorized signatory or duly authorized signatories of the Company, and may, at the option of the Company, be signed by way of affixing a reproduction of the signature or signatures of such duly authorized signatory or signatories. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory may no longer be an authorized signatory of the Company at the date of issuance of a Bankers' Acceptance, and notwithstanding that the signature affixed may be a reproduction only, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance and as if such signature had been manually applied, and any such Bankers' Acceptance so signed shall be binding on the Company.

Execution of Bankers’ Acceptances. Bankers' acceptances The signatures of the Company which are endorsed in blank and are to be accepted as any authorized signatory on Bankers' Acceptances hereunder shall be signed by a duly authorized signatory or duly authorized signatories of the Company, and may, at the option of the CompanyBorrowers, be reproduced in facsimile and such Bankers' Acceptances bearing such facsimile signatures shall be binding on Borrowers as if they had been manually signed by way of affixing a reproduction of the signature or signatures of such duly authorized signatory or signatoriessignatory. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory may no longer be an authorized signatory of the Company Borrowers at the date of issuance of a Bankers' Acceptance, and notwithstanding that the signature affixed may be a reproduction only, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance and as if such signature had been manually applied, and any such Bankers' Acceptance so signed shall be binding on the CompanyBorrowers.