Common use of POWERS OF ATTORNEY AND COMPETENCE LIMITS Clause in Contracts

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon opening the account / accounts, the Holder is bound to fill in the signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits granted to the persons Authorized to represent the account holder and to order transactions on behalf of and for its account. The holder may go to the Bank at a later date in order to appoint Persons authorized to order transactions for the respective account. Further representation rights may be granted directly by the Authorized person of a special power of attorney authenticated by a notary public. In the absence of a special mandate, granted by the Holder before the employee of the Bank or by a special power-of- attorney authenticated by the notary public, the Persons who are authorized to operate the account cannot open other accounts and cannot close or transfer the accounts of the Holder. The Holder undertakes full responsibility for carrying out transactions on its account by the authorized persons.

POWERS OF ATTORNEY AND COMPETENCE LIMITS. 4.1. Upon opening the account / accounts, the Holder is bound to fill in the signature file with its own signature specimen and, as the case may be, with the surname, first name, identification data, signature specimens and representation limits granted to the persons Authorized to represent the account holder and to order transactions on behalf of and for its account. The holder may go to the Bank at a later date in order to appoint Persons authorized to order transactions for the respective account. Further representation rights may be granted directly by the Authorized person of a special power of attorney authenticated by a notary public. In the absence of a special mandate, granted by the Holder before the employee of the Bank or by a special power-of- of-attorney authenticated by the notary public, the Persons who are authorized to operate the account cannot open other accounts and cannot close or transfer the accounts of the Holder. The Holder undertakes full responsibility for carrying out transactions on its account by the authorized persons.