Common use of Payment Authorizations Clause in Contracts

Payment Authorizations. 4.1 If the Subscriber intends to make Electronic Filings of a type that will either require the Subscriber to make Payments to the Securities Regulatory Authorities using the SEDAR system and no other subscriber will be making the Payments on behalf of the Subscriber, or if the Subscriber is permitted pursuant to the applicable MC Filing Requirements to make Payments to a Market Centre and the Subscriber intends to make Payments to the Market Centres, then this section 4.0 applies and the Subscriber shall provide or cause 4.2 The Subscriber is solely responsible for the accuracy of such Electronic Banking Information and user IDs requested by Subscriber and shall provide reasonable notice of any changes. 4.3 The Subscriber is solely responsible for establishing and maintaining any account and agreements with its designated financial institution or other supplier of electronic banking facilities (collectively the “FI”), including without limitation, maintaining current 4.4 The Subscriber acknowledges that Payment Authorizations are transmitted using the SEDAR Filer Software and that the Subscriber shall be, for all purposes, the EDI payment originator with respect to any Payment. All Payment Authorizations become irrevocable once the pay command for the transmission of the Electronic Filing or other use of the SEDAR Filing Services in respect thereof is entered, unless the Payment Authorization cannot be acted upon, in which case the SEDAR system will record the unsuccessful Payment Authorization. The Subscriber is responsible for verifying that its Payment Authorizations are successful. 4.5 The Subscriber is solely responsible for the actions of the Principal Contact, employees, agents and contractors authorized by it and under its control, including without limitation, individual(s) that, from time to time: (a) receive assigned identification numbers and passwords; (b) distribute identification numbers and passwords to Authorized Users; (c) provide Electronic Banking Information; (d) make any Payment Authorization; and (e) advise of changes to any of the foregoing. The ASC and the other members of the CSA shall not be responsible, directly or indirectly, for any inaccuracies, errors or omissions in the Electronic Banking Information or authorities of Authorized Users instructed by the Subscriber or for Payment errors or failed Payments resulting therefrom. 4.6 The Subscriber is solely responsible for keeping its Electronic Banking Information, account balances and records up to date, for reviewing payment confirmation screens before transmitting any Payment Authorization and for verifying that the amount of any Payment for fees and charges is correct.