Authorization Regarding Drafts Clause Samples

Authorization Regarding Drafts. In order to facilitate the issuance of Bankers' Acceptances pursuant to this Agreement, the Borrower hereby authorizes each of the Banks to complete, sign and endorse Drafts on its behalf in hand-written form or by facsimile or mechanical signature or otherwise and, once completed, signed and endorsed to accept them as Bankers' Acceptances under this Agreement. Drafts so completed, signed, endorsed and negotiated on behalf of the Borrower by the Banks shall bind the Borrower as fully and effectively as if those acts were performed by an authorized officer of the Borrower.