Common use of Liability of Company Clause in Contracts

Liability of Company. Company shall be liable for any loss or damage resulting from Company's breach of this Agreement or to which Company's negligence contributed, or which resulted from unauthorized, fraudulent, or dishonest acts by Company's current and/or former Authorized Representatives. Such liability includes instances when a current or former Authorized Representative effects one or more wire transfers to Company's detriment. Company does hereby certify to Bank that only duly Authorized Persons will initiate any requests for wire transfers from accounts of Company identified in any Exhibits. Authorized persons will initiate electronic wire transfer instructions to Bank either by phone, in person or electronically. Authorized persons given security level for wire transfers, by Company, to and from Company’s accounts identified in any Exhibits, have been granted through security clearance pursuant to this Agreement and any attachments, exhibits, schedules and/or amendments hereinafter attached thereto. Bank is authorized to honor requests for wire transfers made by Authorized Persons, or persons who represent electronically or otherwise that they are Authorized Persons, without further inquiry or regard to the authority of said persons and is hereby absolved of all liability for wire transfers made in compliance with these procedures.