Common use of Payments and Withdrawals Clause in Contracts

Payments and Withdrawals. 8.1 All payments shall be made by cash, checks, bank drafts, or telegraphic transfers, which shall either be delivered to COL’s office or deposited and credited to a designated bank account of COL. The Client’s Account shall not be credited with any deposited funds until COL receives cleared funds in the amount stated in the deposit form, less bank charges, if any. 8.2 The Client shall immediately inform COL if funds are erroneously credited in the Client’s Account. The Client further authorizes COL to: (i) debit the Account the necessary amount to correct the error; and (ii) at its discretion, cancel, or liquidate any transaction executed using erroneously credited funds. The Client agrees to shoulder all costs, losses, and damages in relation to the same. 8.3 Any request for cash or stock withdrawals from Client’s Account shall be made in writing and delivered personally or sent to COL’s office by messenger, telefax, or email. A request sent by fax or email to deposit any cash credit with a particular bank of choice indicating therein the name of the bank and account number shall be subject to COL’s approval, provided, that the Client shall assume all the risks or losses that may result thereto. 8.4 In case of a joint account, the Client agrees that: (i) in case of withdrawal of funds, the check shall be made payable to the names of all account holders; (ii) instructions for “joint and” accounts should be signed by all account holders; (iii) in case of “joint or” accounts, while the instructions of one of the account holders shall bind all other account holders, the primary account holder, as identified in the initial Customer Account Information Form (CAIF), shall be the “senior” account holder whose instructions shall prevail over any conflicting instructions from the other account holder(s); provided, however, that COL reserves the right to require all account holders to sign any document/request; (iv) the Client holds COL free and harmless from any and all losses, damages, costs, penalties, fines, and taxes incurred as a result of action or inaction taken by COL in response to any instructions given by parties believed by COL to be authorized or unauthorized to give such instructions; and (v) in case of death of any of the parties, the surviving party/ies may only withdraw funds from the Account or close the Account after submission of the required documentation to COL proving compliance with applicable estate laws and regulations.

Payments and Withdrawals. 8.1 8.01 All payments shall be made by cash, checks, bank drafts, or telegraphic transfers, which shall either be delivered to COL’s office or deposited and credited to a COL’s designated bank account of COLaccount. The Client’s Account shall not be credited with any deposited funds until COL receives cleared funds in the amount stated in the deposit form, less bank charges, if any. 8.2 8.02 The Client shall immediately inform COL if funds are erroneously credited in the Client’s Account. The Client further authorizes COL to: (i) debit the Account the necessary amount to correct the error; and (ii) at its discretion, cancel, or liquidate any transaction executed using erroneously credited funds. The Client agrees to shoulder all costs, losses, and damages in relation to the same. 8.3 8.03 Any request for cash or stock withdrawals from Client’s the Account shall be made in writing and delivered personally or sent to COL’s office by messenger, telefax, or emailoffice. A request sent by fax or email electronically to deposit any cash credit with a particular bank of choice indicating therein the name of the bank and account number shall be subject to COL’s approval, provided, that the Client shall assume all the risks or and losses that may result thereto. 8.4 In case of a 8.04 For joint accountaccounts, the Client agrees that: (i) in case of withdrawal of funds, the check fund withdrawals shall be made payable to the names of all account holders; (ii) instructions for “joint and” accounts should be signed by all account holders; (iii) in case of “joint or” accounts, while the instructions of one of the account holders holder in a “joint or” account shall bind all other account holders, the primary account holder, as identified in the initial Customer Account Information Form (CAIF), shall be the “senior” account holder whose instructions shall prevail over any conflicting instructions from the other account holder(s); provided, however, that COL reserves the right to require all account holders to sign any document/request; (iv) the Client holds COL free and harmless from any and all losses, damages, costs, penalties, fines, and taxes incurred as a result of action or inaction taken by COL in response to any instructions given by parties believed by COL to be authorized or unauthorized to give such instructions; and (v) in case of death of any of the parties, the surviving party/ies may only withdraw funds from the Account or close the Account after submission of the required documentation to COL proving compliance with applicable estate laws and regulations. Until and unless COL receives notice of the death of an account holder, any transaction on the Account, including withdrawals, is made with a continuing representation by the Client that all co-account holders are still living as of the date of the transaction. The Client holds COL free and harmless for its reliance on this continuing representation.

Payments and Withdrawals. 8.1 All payments shall be made by cash, checks, bank drafts, or telegraphic transfers, which shall either be delivered to COL’s office or deposited and credited to a designated bank account of COL. The Client’s Account OSTA shall not be credited with any deposited funds until COL receives cleared funds in the amount stated in the deposit form, less bank charges, if any. 8.2 The Client shall immediately inform COL if funds are erroneously credited in the Client’s Account. The Client further authorizes COL to: (i) debit the Account the necessary amount to correct the error; and (ii) at its discretion, cancel, or liquidate any transaction executed using erroneously credited funds. The Client agrees to shoulder all costs, losses, and damages in relation to the same. 8.3 Any request for cash or stock withdrawals from Client’s Account OSTA shall be made in writing and delivered personally or sent to COL’s office by messenger, messenger or by telefax, or email. A request sent by fax or email to deposit any cash credit with a particular bank of choice indicating therein the name of the bank and account number shall be subject to COL’s approval, provided, that the Client shall assume all the risks risk or losses loss that may result thereto. 8.4 8.3 In case of a joint account, the Client agrees that: (i) in case of withdrawal of funds, the check shall be made payable to the names of all account holders; (ii) instructions for “joint and” accounts should be signed by all account holders; (iii) in case of “joint or” accounts, while the instructions of one of the account holders shall bind all other account holders, the primary account holder, as identified in the initial Customer Account Information Form (CAIF), shall be the “senior” account holder whose instructions shall prevail over any conflicting instructions from the other account holder(s); provided, however, that COL reserves the right to require all account holders to sign any document/request; (iv) the Client holds COL free and harmless from any and all losses, damages, costs, penalties, fines, and taxes incurred as a result of action or inaction taken by COL in response to any instructions given by parties believed by COL to be authorized or unauthorized to give such instructions; and (v) in case of death of any of the parties, the surviving party/ies may only withdraw funds from the Account OSTA or close the Account OSTA after submission of the required documentation to COL proving compliance with applicable estate laws and regulations.