Common use of Joint Owners Clause in Contracts

Joint Owners. Joint owners of your Funding Account may also enroll for our xxxx pay services and schedule payments to be charged against the Funding Account. Each joint owner of the Funding Account has full and independent authority to use our xxxx pay services as if they were the sole owner, without the consent of or notice to any other joint owner. Such powers may include, without limitation, the authority to: (a) view all billing data and pay bills or other obligations of any joint owner; (b) order the payment or transfer of funds from the Funding Account; or (c) close the Funding Account at any time. We may: (a) honor the orders and follow the instruction of any one joint owner, without liability to any other joint owner(s), and without any obligation to give notice to other joint owners, or to inquire whether such other owner’s consent; (b) honor any payment order from a joint owner even though it may create an overdraft in the Funding Account (and all joint owners are jointly and severally liable for repayment of overdrafts created by any joint owner); and (c) treat any notice required or permitted to be given concerning the Funding Account as being given to all joint owners when such notice is given to any one joint owner.

Appears in 4 contracts

Samples: Direct Connect Service Agreement, Direct Connect Service Agreement, Direct Connect Service Agreement

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Joint Owners. Joint owners of your Funding Account may also enroll for our xxxx pay services and schedule payments to be charged against the Funding Account. Each joint owner of the Funding Account has full and independent authority to use our xxxx pay services as if they were the sole owner, without the consent of or notice to any other joint owner. Such powers may include, without limitation, the authority to: (a) view all billing data and pay bills or other obligations of any joint owner; (b) order the payment or transfer of funds from the Funding Account; or (c) close the Funding Account at any time. We may: (a) honor the orders and follow the instruction of any one joint owner, without liability to any other joint owner(s), and without any obligation to give notice to other joint owners, or to inquire whether such other owner’s owner s consent; (b) honor any payment order from a joint owner even though it may create an overdraft in the Funding Account (and all joint owners are jointly and severally liable for repayment of overdrafts created by any joint owner); and (c) treat any notice required or permitted to be given concerning the Funding Account as being given to all joint owners when such notice is given to any one joint owner.

Appears in 2 contracts

Samples: Direct Connect Service Agreement, Direct Connect Service Agreement

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