Common use of JOINT ACCOUNT OWNERS Clause in Contracts

JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned hereby agrees to indemnify, defend and hold harmless MiltonPrime for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off‐ exchange options, to deposit with and withdraw from MiltonPrime, currencies, securities, negotiable instruments, and other property, includingwithdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases withrespect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, MiltonPrime is authorized to take such action in regard to the Account, as MiltonPrime may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify MiltonPrime immediately upon the death or legal incapacity of any joint owner. MiltonPrime may terminate this Agreement by written notice to any one of the joint owners. In the event that MiltonPrime receives a notice of a dispute between or conflicting instructions from joint account holders, MiltonPrime may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until MiltonPrime receives satisfactory documentations that the dispute has been resolved or all joint account holders give MiltonPrime instructions.

Appears in 2 contracts

Samples: Terms and Conditions, Terms and Conditions

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JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned hereby xxxxxx agrees to indemnify, defend and hold harmless MiltonPrime 10TradeFX for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off‐ off- exchange options, to deposit with and withdraw from MiltonPrime10TradeFX, currencies, securities, negotiable instruments, and other property, includingwithdrawals including withdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases withrespect with respect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, MiltonPrime 10TradeFX is authorized to take such action in regard to the Account, as MiltonPrime 10TradeFX may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify MiltonPrime 10TradeFX immediately upon the death or legal incapacity of any joint owner. MiltonPrime 10TradeFX may terminate this Agreement by written notice to any one of the joint owners. In the event that MiltonPrime 10TradeFX receives a notice of a dispute between or conflicting instructions from joint account holders, MiltonPrime 10TradeFX may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until MiltonPrime 10TradeFX receives satisfactory documentations that the dispute has been resolved or all joint account holders give MiltonPrime 10TradeFX instructions.

Appears in 2 contracts

Samples: Terms and Conditions, Terms and Conditions

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JOINT ACCOUNT OWNERS. If this Account is held by more than one (1) person, all of the joint holders agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Account is held in trust, joint ownership, or partnership, the undersigned hereby agrees to indemnify, defend and hold harmless MiltonPrime 10tradefx for any losses resulting from breach of any fiduciary duty of the undersigned to the other holders and beneficiaries of this Account. Further, any one or more of the joint owners shall have full authority for the Account and risk of the Account owners, to buy, sell, and trade in transactions of foreign currencies or off‐ off- exchange options, to deposit with and withdraw from MiltonPrime10tradefx, currencies, securities, negotiable instruments, and other property, includingwithdrawals including withdrawals to or for the individual use or Account of the party directing the sale or of any other party, to receive and acquiesce in the correctness of notices, confirmations, requests, demands and all other forms of communications, and to settle, compromise, adjust, and give releases withrespect with respect to any and all claims, demands, disputes, and controversies. Upon death or legal incapacity of any of the undersigned, MiltonPrime 10tradefx is authorized to take such action in regard to the Account, as MiltonPrime 10tradefx may deem advisable to protect itself against any liability, penalty or loss. Customer agrees to notify MiltonPrime 10tradefx immediately upon the death or legal incapacity of any joint owner. MiltonPrime 10tradefx may terminate this Agreement by written notice to any one of the joint owners. In the event that MiltonPrime 10tradefx receives a notice of a dispute between or conflicting instructions from joint account holders, MiltonPrime 10tradefx may, but is not required to, place restrictions on the account, including restrictions on withdrawals or transfers from an account, until MiltonPrime 10tradefx receives satisfactory documentations that the dispute has been resolved or all joint account holders give MiltonPrime 10tradefx instructions.

Appears in 1 contract

Samples: Terms and Conditions

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