Common use of Use of Automated Systems Clause in Contracts

Use of Automated Systems. Customer consents to the MFUSA Entities’ use of automated systems or service bureaus in conjunction with the Customer’s Account with the MFUSA Entities, including, but not limited to, automated order entry and execution, record keeping, reporting, account reconciliation and risk management systems (collectively, “Automated Systems”). Customer understands that the use of Automated Systems entails risks, including, but not limited to, interruption or delays of service, system or communications failure, and errors in the design or functioning of such Automated Systems (collectively, a “System Failure”), that could cause substantial damage, expense or liability to Customer. Customer understands and agrees that the MFUSA Entities and their respective officers, directors, employees and agents will have no liability whatsoever for any claim of loss, cost, expense, damage or liability of Customer or any third person arising out of or relating to any System Failure, regardless of whether such claim is based on contract, tort, strict liability or any other theory. The MFUSA Entities and their respective officers, directors, employees and agents will not have any liability for the actual or alleged insufficient exercise of care in selecting any sub-agents or in selecting, monitoring or operating any Automated System, for any failure or delay in informing Customer of any System Failure or in taking action to prevent or correct any such System Failure. In no event will the MFUSA Entities and their officers, directors, employees or agents have any liability for any incidental, special or consequential damages, including, but not limited to, loss of profits or loss of use, even if the MFUSA Entities were aware of the likelihood of such damages. The MFUSA Entities have no responsibility to inform Customer of (i) any decision to use, not use or cease using any Automated System, (ii) the characteristics, functions, design or purpose of any Automated System, or (iii) any specific risks inherent in any Automated System.

Use of Automated Systems. Customer consents to the MFUSA Entities’ use of automated systems or service bureaus in conjunction with the Customer’s Account with the MFUSA Entities, including, but not limited to, automated order entry and execution, record keeping, reporting, account reconciliation and risk management systems (collectively, “Automated Systems”). Customer understands that the use of Automated Systems entails risks, including, but not limited to, interruption or delays of service, system or communications failure, and errors in the design or functioning of such Automated Systems (collectively, a “System Failure”), that could cause substantial damage, expense or liability to Customer. MFUSA AND THE OTHER MFUSA ENTITIES MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE SELECTION, DESIGN, FUNCTIONALITY, OPERATION, TITLE OR NON-INFRINGEMENT OF ANY AUTOMATED SYSTEM, AND MAKE NO EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, TITLE AND/OR NON-INFRINGEMENT. WITHOUT LIMITING THE FOREGOING, MFUSA AND THE OTHER MFUSA ENTITIES EXPRESSLY DISCLAIM ANY REPRESENTATION THAT ANY AUTOMATED SYSTEM WILL OPERATE UNINTERRUPTED OR WILL BE ERROR-FREE. Customer understands and agrees that the MFUSA Entities and their respective officers, directors, employees and agents will have no liability whatsoever for any claim of loss, cost, expense, damage or liability of Customer or any third person arising out of or relating to any System Failure, regardless of whether such claim is based on contract, tort, strict liability or any other theory. The MFUSA Entities and their respective officers, directors, employees and agents will not have any liability for the actual or alleged insufficient exercise of care in selecting any sub-agents or in selecting, monitoring or operating any Automated System, for any failure or delay in informing Customer of any System Failure or in taking action to prevent or correct any such System Failure. In no event will the MFUSA Entities and their officers, directors, employees or agents have any liability for any incidental, special or consequential damages, including, but not limited to, loss of profits or loss of use, even if the MFUSA Entities were aware of the likelihood of such damages. The MFUSA Entities have no responsibility to inform Customer of (i) any decision to use, not use or cease using any Automated System, (ii) the characteristics, functions, design or purpose of any Automated System, or (iii) any specific risks inherent in any Automated System.