MEMBER ACCOUNT AND CARDS Sample Clauses
The 'Member Account and Cards' clause defines the terms governing the creation, use, and management of a member's account and any associated cards issued by the organization. It typically outlines the process for account registration, the responsibilities of the member in safeguarding their account credentials and cards, and the procedures for reporting lost or stolen cards. This clause ensures that both the organization and the member understand their respective obligations, thereby reducing the risk of unauthorized access and clarifying liability in case of misuse.
MEMBER ACCOUNT AND CARDS. The Bank has established a Corporate MasterCard program with the Illinois Association of School Business Officials (the “Association”) for its qualified members. The Association has requested that the Bank establish a MasterCard account for you and the Bank has agreed to do so. This Agreement between the Member and the Bank and the Agreement between the Bank and the Association set forth the terms and conditions under which the Bank will make its Corporate MasterCard program available to the Member.
Section 1.1. The Bank will establish a MasterCard®* account for the Member (the “Member Account”) under the Bank’s Corporate MasterCard program with the Association as indicated in Schedule 1 with the initial Monthly credit limit of U.S. $ (the credit limit of the Member Account in effect at any time is herein called the “Member Credit Limit”). The Bank shall lend money to the Member and its Cardholders (as defined below) up to the Member Credit Limit by way of charges to the Member Account in accordance with this Agreement. The Bank reserves the right, in its sole discretion, to modify the Member Credit Limit and the Cardholder Credit Limits at any time. The Member agrees that the Member Account is to be used for business purposes, and not for personal, family, or household purposes (non-business purposes). Member will notify its Cardholders of the prohibition against use for non-business purposes when the Card is issued and periodically thereafter during the term of this Agreement. Member agrees that regardless of the purposes for which the Member Account is used to make purchases, all such transactions, interest, fees and related charges shall be paid to the Bank by the Member in accordance with the terms of this Agreement. 10033648_1.doc 7677081
Section 1.2. The Member may request the Bank to issue a MasterCard card or card numbers (“Cards”) on the Member Account to employees designated by the Member. Each such request (a “Request”) shall be in a form required by the bank from time to time and shall be submitted by a Program Administrator.
MEMBER ACCOUNT AND CARDS. The Bank has established a Corporate MasterCard program with the Illinois Association of School Business Officials (the “Association”) for its qualified members. The Association has requested that the Bank establish a MasterCard account for you and the Bank has agreed to do so. This Agreement between the Member and the Bank and the Agreement between the Bank and the Association set forth the terms and conditions under which the Bank will make its Corporate MasterCard program available to the Member. The Bank will establish a Card Account for the Member (the “Member Account”) under the Bank’s Corporate MasterCard program with the Association as indicated in Schedule 1 with the initial Monthly credit limit of U.S. $ (the credit limit of the Member Account in effect at any time is herein called the “Member Credit Limit”). The Bank shall lend money to the Member and its Cardholders (as defined below) up to the Member Credit Limit by way of charges to the Member Account in accordance with this Agreement. The Bank reserves the right, in its sole discretion, to modify the Member Credit Limit and the Cardholder Credit Limits at any time.
MEMBER ACCOUNT AND CARDS. The Bank has established a Corporate MasterCard program with the Illinois Association of School Business Officials (the “Association”) for qualified members of the Illinois Association of School Business Officials and qualified members of other state associations of school business officials approved by the Bank (each a “Member”). The Association has requested that the Bank establish a MasterCard account for you and the Bank has agreed to do so. This Agreement between the Member and the Bank and the Agreement between the Bank and the Association set forth the terms and conditions under which the Bank will make its Corporate MasterCard program available to the Member.