Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 1 of 15 Exhibit 5 Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 2 of 15 GENERAL OPERATING CONiarriONS COVERNUNG eLc BANv AccouNTS, PRODUCTS AM) SERVICES The undersigned 40teak hereby request(s) the opening in my / our name (s) the account(s) mentioned below: in accordanceawith the general terms and conditions applied by your Bank and which govern these accounts and services. I declare that I / we have reviewed and a proved such general terms and conditions without reservation. (Client RIM number Hereinafter the « Account Holder » or the « Client » require the involvement of third parties, including but not limited to CHAPTCR 01: BANK ACCOUNT OPENING acts relating to the authentication and registration of guarantees and PROCEDURE AND GENERAL OPERATING mortgages of whatever nature (including but not limited to sureties, first demand guarantees, pledges and liens) or any other instrument COMMONS or contract involving notaries and any other relevant authorities, for the purpose of paying any applicable taxes and duties (including I. Client's: ob!igation to provide information stamp duties) to the Finance Ministry or other relevant authority, or in order to secure a credit or advance from an insurance company, or in 1. Subject to the Bank's approval, the Client may open one or order to hire the services of a debt recovery company. In addition, the more accounts with the Bank in either Lebanese pounds or foreign Client hereby expressly authorizes the Bank to disclose to third parties currency or with respect to precious metals or shares.'Such accounts information relating to the Client which are necessary to complete shall be governed by applicable Lebanese laws and regulations and transactions requested by the latter (including, without limitation, these general terms and conditions. The Bank reserves the right to information to be given to other financial or banking institutions in subdivide these accounts into sub-accounts, without prior notification order to complete a wire transfer, to collect trade bills, to issue, notify of the Client. and/or confirm letters of credit and/or guarantees). 2. Pursuant to the laws and regulations in force, and in particular the 3. If the account is a joint or collective account, any and all Account Law N°318 of 20 April 2001 and the circulars issued by the Banque du Holders hereby unequivocally, expressly, unconditionally and Liban relating to the fight against money laundering, article 160 of the irrevocably releases the Bank from its obligations with regard to Credit and Monetary Code and the Foreign Account Tax Compliance banking secrecy for all of the matters listed above. Act, known as FATCA, adopted by the United States Congress on March 18,2010, the Client undertakes under his/her own responsibility to provide the Bank with all true information necessary to open a bank Ill. Dreign currency alc1P.I.:ts account, together with any other information deemed necessary 1. Existing and future foreign currency accounts shall be subject or useful by the Bank throughout their relationship, including but to both Lebanese law and the law of the country of the currency in not limited to information relating to the Client's identity, address, question. The Bank's liability shall not be involved in the event that the profession, business, financial position, the origin of the Client's currency in question is not fully available or available only in part, or is banking transactions and the reasons and purpose thereof. no longer in uses, for whatever reason, and in particular as a result of 3. Similarly, the Bank is entitled to obtain all information it deems any Lebanese or foreign law or regulation, a decision of the Lebanese necessary in order to assess at any time the risks and uncertainties it administrative authorities or of any foreign authorities, or as a result could face with regard to the credits and other facilities it may grant of an act of State. to the Client. The Client is also obliged to provide to the Bank any 2. The Client hereby irrevocably and unconditionally grants at all information which may be necessary for a proper assessment of any times all powers to the Bank in order to a) convert all or part of the risks and uncertainties which could have an adverse effect on the foreign currency credit balance of the Client's account into Lebanese Client's personal position or his/her activities. pounds or another foreign currency, at the rate on the date of the 4. The Client represents and warrants, under his/her own transaction, in order to cover the debit of one or other of the Client's responsibility, that all statements, information and documents other accounts, and b) make the necessary transfers from accounts provided or to be provided to the Bank are or shall be accurate and/ in credit to accounts in debit. An exchange commission shall be or authentic. In the case of any inaccuracy or the falsification of a applied by the Bank, at the rate and under the conditions applied by document, statement or information provided by the Client, all sums the Bank. whatsoever advanced to the Client as a credit or facility shall be immediately repayable, notwithstanding any previously agreed term. 1V. Verification of :aignatuLes and maiple 7-1,arking seci.ecy signatures 1. The Bank shall rely on the specimen signature given by the 1. The Bank is bound by banking secrecy in accordance with the Account Holder for any transactions carried out by it, and it shall not conditions and restrictions provided for by the Law of 3 September be held liable in this respect either by the Account Holder or any third 1956 relating to banking secrecy. party in the case of its refusal to carry out a transaction if the signature 2. Moreover, the Client hereby expressly, unconditionally and :irrevocably releases the Bank from its obligation to banking secrecy does not comply with the above mentioned specimen. Similarly, the with regard to the foliovving: Bank shall not be liable in any manlier whatsoever in the eventof the t- The Client hereby empoWers the Bank without liability to the latter falsification of the signature. to lift the banking secrecy relating to his/her credit and debit accounts 2. The Client may decide to use a specific signature, which differs With regard to the U.S. tax authorities with respect to all matters from his/her usual signature, in order to authenticate instructions pertaining to the application of the Foreign Account Tax Compliance relating to the operating of any of his/her accounts. In this case, he/ Act (FATCA). • she shall provide a specimen of the said signature to the Bank, and the The Bank's, obligation .to banking secrecy shal€ not apply with Bank shall be authorized to refuse to carry out any instruction given regard to its correspondents, all member companies of its group, its by the Client or any transaction concerning the account in question 'existing and future subsidiaries and affiliates. which does not show the specific signature adopted for this purpose. 1 r in accordance with article 2 of the Law relating,to banking secrecy, Moreover, the Client, acknowledges that he/she is bound by any the Client hereby authorizes the Bark to request ail information relating transaction involving the account in question using the said signature to funds and assets deposited with;other banks arid, more generally, and further acknowledges his/her liability for any loss suffered by the regarding accounts opened with such banks. For thiS purpose, the Bank or any third party as a result of the use of the account. Client releases these other banks, their directors and employees from their obligationS with regard to banking secrecy. V. Cci:ectiln serv!ces In accordance with article 4 of the Law relating to banking secrecy, Account deposits made by cheque, wiretransfer, trade bills or any the Client hereby expressly, unconditionally and irrevocably authorizes other payment instrument, are made under the sole responsibility of the Bank to carry out any seizure of funds and assets deposited with the Account Holder, and the Bank is under no obligation to ensure any other bank, payment OT to take any steps in this respect. In the exceptional. event The Bank shall not be bound by banking secrecy with regard that any such deposits are made temporarily, the sum in question to customary acts concerning a bank and its clients and/or which sh [I not be av ilable to the ACcount Holder until it has been collected •, -•• 0.N. -e-1. Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 3 of 15 by the Bank. Tha Bank reserves the right to reverse the entry, with no 1. The Bank's books, registers and account entries are binding upon obligation to notify the Client in advance, in the case of the debtor's the parties and are enforceable against the Client. They shall have failure to pay the sum. Accordingly, the Bank shall be entitled to refuse probative force with regard to the Account Holder, his/her successors any drawing on the Client's account if the sums concerned by the and assigns and third parties. Moreover, and notwithstanding the above, cheques, wire transfers, trade bilis or any other payment instrument it is expressly agreed that the reproduction of orders on microfilm or any have rot been collected and/or to reverse the entry of the amount of other IT medium kept by the Bank shall constitute proof of transactions those which have been returned. carried out by the Client and may be produced in the case of litigation. 2. It is expressly agreed by the parties that the Bank shall be entitled, 2. The Client may transmit his/her orders and instructions by with no obligation to notify the Client, to reverse account entries facsimile on the subscription number declared by the Client in the made as a result of a material or legal error. Any entry made by the Know Your Customer form signed by him. Orders made in this way Bank shall be binding on the Account Holder once this entry has been are binding on the Client, which acknowledges that it is aware of risks made. associated with this method, including the risk of fraud, falsification 3. If the Client has used sums mistakenly credited to his/her account and/or the use of a false signature. The Client therefore releases the or if cheques, trade bills or negotiable instruments are returned for any Bank from any liability connected with the execution of orders and reason whatsoever, it shall immediately repay the concerned amount instructions transmitted by facsimile, shall be liable for any losses or to the Bank, plus interest, commission, costs and ancillary charges, at damages that could ensue from the execution of the above without the rates and under the conditions applied by the Bank, under threat holding the Bank liable for any reason whatsoever in this regard, and of court action and an order to pay damages. With regard to cheques, acknowledges that the Bank is entitled to refuse to execute an order or trade bills and negotiable instruments to be collected abroad, the instruction which is not sufficiently clear, or which it deems doubtful, Client acknowledges that foreign legislations allow banks to return without any liability to the Bank as a result of such refusal. such cheques, trade bills and negotiable instruments many years after 3. In addition, in order to facilitate the Client's access to the various their deposit for collection-and to claim their value even after they services offered by the Bank, the latter may allow the Client to transmit have been paid. As a result, the Client irrevocably and unconditionally orders and instructions orally during telephone conversations. Any undertake to repay the Bank forthwith the value of said cheques, trade Client wishing to benefit from the telephone banking services shall bills and negotiable instruments, plus interest, commission, costs and be given a password and shall take all measures necessary to keep ancillary charges, at the rates and under the conditions applied by the such password confidential. The Client shall be bound by any and all Bank, irrespective of the time at which they are returned. In the event transactions resulting from an improper use of the password until the that the Client fails to pay any of the aforementioned amounts, the Bank has received written notice of such improper use. Orders and Bank shall be entitled to debit such amounts from any one of his/her instructions transmitted by the Client during a telephone conversation accounts and/or from a debit account which shall be opened in his/her may be recorded on magnetic tape under conditions which guarantee name without giving prior notice to the Client, and the Client hereby the reliability and integrity of any such recording. it is therefore grants full powers to the Bank for such purpose. expressly agreed by the parties that the recordings on magnetic tape 4. The Client shall bear alone all the consequences of any difficulties, are self-authenticating and provide sufficient proof of the genuine delays or errors relating to any collection, payment or transfer, and nature of orders and instructions transmitted by the Client. The Client the Bank's liability shall.not be involved in this respect. hereby acknowledges the accuracy of all operations and entries 5. Cheques and other trade bills or negotiable instruments deposited effected on his/her accounts, and from then on, stands down to argue for collection shall be sent by post on behalf of the Client, at his/her or make any objection in this respect. risks and at his/her own expenses. The Client shall bear the risk of 4. The Client shall in any event be deemed to have irrevocably approved loss, theft, fire or other event, as well as risks arising as a result of transactions executed pursuant to the said orders and instructions as an event of force majeure, third party default or his/her own default. shown on the bank statements, provided that the conditions set down It shall also bear the consequences of any delay in collection, or the in section 7 above under the title "Bank statements" are met. No claim time needed for collection, and any loss or costs incurred as a result made by the Client will therefore be admitted. of the latter. The Client shall pay any commission, costs and ancillary 5. It is expressly agreed by the parties that the Bank may, if the Client charges which may be due to the Bank or to its correspondents. transmits his/her instructions by telephone, facsimile or e-mail, decide 6. The Bank's shall not be held liable as a result of any delay in whether or not to act on the said instructions, under the responsibility the presentation of cheques, trade bills or negotiable instruments of the Client which shall bear all associated risks, including those risks deposited with it by the Account Holder for the purpose of collection. which could arise in the event that the said instructions are shown Similarly, the Bank shall have no obligation to make any act of protest to be a result of fraud or theft. If the Client's instructions are not or issue any formal notice relating to non-acceptance or non-payment, sufficiently clear, the Bank shall have the right to refuse execution, nor any responsibility with regard to any legal action taken for the without any liability to the Bank as a result of such refusal. purpose of collection. It is expressly agreed by the parties that any 6. The Client undertakes to use the telephone banking services within such measures shall be initiated by the Account Holder himself/ herself. the legal limitations applied to traditional banking services. It may not oppose the payment of any cheque by using the telephone banking Account icezping fees services. In addition, secret accounts and numbered accounts fall 1. The Bank is entitled to charge fees for account keeping, at the outside the scope of the services provided by the Bank. rates and under the conditions applied by it, and which the Bank is 7. The joint account holders are entitled to benefit from the telephone entitled to change at any time, in accordance with the provisions of banking services if all joint account holders have so approved and section 1(K) below, entitled a Tariffs ». The Bank ha's the right to debit signed on the subscription form relating thereto. In such case, the these fees from any one of the accounts opened by the Client with it, joint account holders are given one password only. with no obligation to notify the Client. 8. The Client releases Bank from any liability in respect of the banking secrecy in the event that any third party has reviewed his accounts Sank statements or acquired any information through the telephone banking service p without any direct intervention of the Bank, -T-he telephone banking l. The Bank shall issue a bank statement for each of the Client's service is automatically suspended ,upOn the Bank being notified of debit accounts at the end of each calendar month, and for each of the passing away of the Client. the credit accounts at the'end of June arid Decembers of each year. This statement' together with the balance Shown, shallibe deemed to IX. Account 1.N..ity .rawer have been irrevocably accepted by the Account Holder if no written notice of oppoSition-has-been sent to the Bank, by registered letter 1. The Client acknowledges that the division into various accounts With acknowledgement of receipt, by the Account Holder within 15 is purely for practical reasons. Accordingly, the Client expressly (fifteen) days of the date of the said statement. If the Client does not grants the Bank the discretionary right,to consider at any time, with no obligation to notifythe Client, that all transactions on the Client's collect the statement from-the Bank within the above mentioned time accounts and/or sub-accounts, whether credit or debit entries, in limit, it shall bedeerned to have received it and ,approvpd its content. Lebanese pounds or foreign currency, constitute indivisible entries On expiry of this time limit, the Account Holder's right to oppose the for one and the same current account, which shall have one and the statement or to discuss its content shall lapse. 'The Hank however same balance. If there are one or more foreign currency accounts, the reserves the right to correct any errors or omissions at any time. balance shall be calculated after the bqok conversion of the currencies It is expressly egreed by the parties that the Bank may, at any time into the currency of one or other of the Client's accounts, which shall and with no obligation to notify the Client, destroy statements made be determined at the diScretion of the bank, at the rate in force on the available to the Client if the latter has not collected them within the day of calculation of the Said balance. above-mentioned '15 (fifteen) day period. 2. The Bank may therefore, on its own initiative and at any time, with 2. Only the registers and account entries of the Bank have probative no obligation to notify the Client, -merge and unify the balances of force and are enforceable against the parties. the various existing or future accounts of whatever nature opened in the name of the Client (including but not limited to sight deposit V11. Probae..hrelOxe of 'due Balk's boc!-.s, iegistarr_ accounts, term deposit accounts andnumbered accounts), regardless` and 3ntriec of the type or currenpy, whether such-balences are in credit or debit. 6 rieileree Tete hs. - ii=ialr-T- 111111M111 Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 4 of 15 3. It is expressly agreed by the parties that any merger or unification 2. If the Client has several accounts with the Bank, the Client's of the Client's various accounts and/or sub-accounts decided by the termination letter shall clearly identify the account or accounts which Bank shah have no impact on the autonomous functioning of the he/she intends to close. said accounts and sub-accounts. Accordingly, but without limitation, 3. Notwithstanding any contrary provision, the Bank has the right the various accounts and/or sub-accounts may operate as credit or to close the account without notice in the case of default on the part debit accounts and bear interest at variable and differentiated rates. of the Client and/or the latter's failure to comply with any one of his/ Similarly, the Bank shall be entitled to carry out transfers from account her contractual obligations (including but not limited to a failure to to account, pursuant to the powers or authorizations given to it by the pay sums owed by the Client to the Bank, or any inaccuracy in the Client either through these General Conditions or separately. information provided to the Bank by the Client, including in relation to the application of the provisions of the United States Foreign Account X. Set off Tax Compliance Act (known as FATCA). 1. Without prejudice to the Bank's right to merge and unify the Client's 4. After the closure of his/her account, the Client shall attend the various accounts and/or sub-accounts, the Bank may at anytime, with no Bank in order to collect any credit balance, it being understood that obligation to notify the Client, set off the balances of the Client's various the withdrawal of the credit balance shall only take place once the accounts opened with its branches (including but not limited to sight Client has satisfied all of its obligations to the Bank. deposit accounts, term deposit accounts and numbered accounts). For 5. It is expressly agreed by the parties that the closed credit account, this purpose, the Client hereby irrevocably and unconditionally grants closed for whatever reason, shall not bear interest but shall, after all powers to the Bank to conduct any such set off by means which it closure, be debited by any fees and/or commission and/or other deems appropriate, including by transfer from account to account. It is ancillary charges for the benefit of the Bank, at the rates and under expressly agreed for this purpose that any term given for any one of the the conditions applied by the Bank. The Bank may withdraw these Client's accounts shall not limit the Bank's capacity to transfer funds sums directly from the closed account and/or from any other account from one term account to another, in particular to cover an overdraft. remaining open in the name of the Client. 2. If the Client has opened a savings account with the Bank, the Client 6. if after closure it is seen that the account has a debit balance undertakes to provide his/her savings book to the Bank forthwith and in favor of the Bank, this debit balance shall continue to bear debit at the latter's first demand, for the purpose of proceeding with the set interest, interest for late payment, penalties and commissions at the off referred to in these General Conditions. 3. For accounts in foreign currencies, the Client hereby expressly rates and tariffs then applied by the Bank. authorizes the Bank to carry out at all times any exchange transaction which may be necessary for the purpose of the set off, at the exchange rate in force at the date of the transaction. CHAPTER_ 02: SPECIAL OPERATING CONDITIONS APPLICABLE TO CERTAIN XL Tariffs 1. Unless otherwise specifically agreed by the Bank and the Client, ACCOUNTS interest rates, fees, commission and other charges applied by the Bank for its clients' banking transactions shall be those applied by the I. Special conditions relating to sight deposit Bank at the date of the transaction and the same shall be recorded in accounts [the Client's account] after deducting the amount of any taxes, duties 1. The Account Holder has access to sums deposited in sight or expenses. 2. The Bank reserves the right to change its tariffs at any time for deposit accounts by way of deposits or withdrawals made directly sight accounts and at maturity for term accounts, whatever the nature at the Bank's counters (including « ATM » machines) or by way of any or currency of such accounts and without being required to give payment instrument made available to the Client by the Bank, and in notice to the Client. • particular wire transfer, payment cards and/or cheques. 3. The Client shall have 15 (fifteen) days from the date of introduction 2. With regard to any deposit or withdrawal, the account shall be of any new tariff conditions to inform the Bank, by registered letter with operated under the signature of the Account Holder, as authorized by acknowledgement of receipt, if he/she wishes to close the account. If the Bank. the Client does not request such closure within this time period, he/ 3. The Bank may at its discretion issue or refuse to issue a cheque she shall be deemed to have accepted the new tariff conditions. If the book and/or payment card to the Account Holder, with no need to Client has several accounts, he/she shall clearly identify those which justify its decision. he/she intends to close. 4. The Bank shall issue a cheque book to the Account Holder on the 4. The Client may obtain information directly from the Bank basis of the form it has prepared. It may therefore refuse any payment concerning fees, commission and other charges which may apply. by way of a cheque which does not comply with this form or a form it has not authorized in advance. XII. Modificaticn of the general c•oriciitic...ins 5. The Account Holder undertakes to take care of the cheque books 1. The Bank reserves the right to change its services and to modify and cheques provided to him/her. He/she shall bear full liability for his/ these General Conditions at any time, with the aim of improving the her use whether by himself/herself or by his/her legal representative. quality of services offered and completing the range of services. Similarly, he/she shall bear full liability for the fraudulent use of the Any modification will take the form of an amendment of the General cheque books or cheques contained therein, including as a result Conditions, which shall be notified to the Client. The Client shall of loss, theft or forgery, and the Bank shall be held harmless in this have fifteen (15) days as from the date of introduction of the new respect. The Account Holder shall inform the Bank in writing forthwith General Conditions to inform the Bank, by registered letter with of the occurrence of any of the above mentioned events. The Bank acknowledgement of receipt, if he/she wishes to close his/her may, but is not obliged to, block a sum equivalent to that of the cheque account. If the Client does not request such closure within this time whose payment has been opposed by the Account Holder. This sum period, he/she shall be deemed to have given unreserved approval shall be blocked for a period to be decided by the Bank, or until the of the new conditions, releasing the-Bank from any liability for any end of the period for presentation, or until the-Ac-count-Holder nonfrez: reason whatsoever in this respect. If the Client has several accounts, the Bank of the withdrawal of the oppoSition, or the handing down of he/she shall clearly identify those which he/she intends to close. an enforceable court decision bringing the dispute to an end- 6. The Bank has the right to honor cheques drawriotlit by the Account Application of Oaymentalnada by the Client Holder, even after expiry of the legal period ailoWed for presentation. 7. The Account Holder can only draw cheques in the currency in 1. All payments made by the Client pursoant to his/her obligations to which the account is opened. He/she shall not draw a cheque when the Bank shall be applied in the following order and manner: there are no or insufficient funds, nor withdraw a provision or part of a 3) firstly, for the payment of commission, charges and expenses to provision for a cheque after the cheque has been drawn, or oppose or be paid by the Client for iriy reason whatsoever, prohibit payment in cases other than those listed in article 428 of the b) secondly, for the payment of interest due but not yet paid which is Commercial Code, under threat of legal proceedings pursuant to article owed by the Client for any reason.whatsoever, 666 of the Lebanese Criminal Code. Inithe case of payment opposition, c) thirdly, for the payment of the principal due but not yet paid which the Bank reserves the right to take eny steps it deems appropriate, is owed by the Client for any reason, whatsoever. including the blocking of a provision until the Account Holder notifies the Bank of the withdrawal of the opposition, or the handing down of an CiOSI.103 of the av:ourri: enforceable court decision bringing the dispute to an end. 1. Subject to special terms and conditions relating to the operating 8. The Client states that he/she is aware of decision n° 6060 of the of certain accounts, each party may terminate this agreement, by Banque du Liban of 25 Noyember 1995 relating to the organization of sending to the other party written notice and after 15 days of being the centralized service for defaulting clients and therefore irrevocably notified or rejecting this notification by this party or default of releases the Bank and its emRloyees from banking secrecy in order 'notification for whatsoever reason, and thus, ,without need to justify to allow them to take any necessary steps for the. enforcement of the termination deCision and without neeci•to institute any judicial or the provisions of the above mentioned decision, together with any extra judicial procedure, and thus close-the account. amendments thereto, in particular in the event that the Account Holder Gue.,--al I en'rs- Curtrlitinais. 7 V-7.) Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 5 of 15 or his/her legal representative draws a cheque on one of the accounts IL The opening of an account is subject to a minimum balance, which opened with the Bank and where it becomes clear, on presentation of shall be fixed at the discretion of the Bank and which may be changed the cheque for payment, that there are insufficient funds to pay the at any time, with no obligation to notify the Client. if the balance amount in full. falls below the minimum threshold, the account shall cease to bear 9. The Account Holder undertakes to return cheque books and/ creditor interest for the benefit of the Account Holder, and the Bank or payment cards provided to him/her by the Bank immediately on shall be entitled to collect commission at the rate then applied by the closure of the account. If he/she fails to do so, he/she shall continue to Bank which it may debit directly from the account, with no obligation be liable in the event of loss, theft or fraudulent use. to notify the Account Holder. 10. it is expressly agreed by the parties that any overdraft which 12. If the account is a sight account, it shall bear creditor interest at the may be exceptionally authorized by the Bank on the Client's deposit rate fixed by the Bank which shall be added to the account balance. account is by nature temporary. The Account Holder shall cover the However, if the account is closed before the interest period, for any overdraft immediately. The Bank shall be entitled to apply interest, reason whatsoever, the Bank shall not be liable for the payment of this commission, fees and ancillary charges at the rates and under interest for the period concerned. the conditions applied by the Bank to this overdraft, either before 13. If the account is blocked for a given period, creditor interest or after the closure of the account. Similarly, the Account Holder shall be added to the account balance at the end of the period. If the authorizes the Bank to make withdrawals from this account, once the account is closed before the end of this period, the Bank shall not be credit balance has been restored, for set off against amounts which liable for the payment of this interest for the period concerned. It is the Client owes to the Bank, and/or from any other account opened expressly agreed by the parties that the blocking of this account shall in the Account Holder's name with the Bank. be automatically renewed for a similar period, and the Bank shall have 11. The special conditions relating to savings accounts apply to sight the right to change the interest rate in order to apply that in force at deposit accounts when the latter are opened with a savings book. the time of the renewal, unless the Account Holder decides otherwise by notifying the Bank by registered letter with acknowledgement of I!. conditiens +c savings receipt, at least two business days before the end of the period. 14. In the event that the Account Holder passes away, the heirs shall -_,!ccou:ItS • not have the right to dispose of the balance of the deceased until 1. The Bank may, at the request of a natural person or a not-for-profit they have provided evidence of their capacity in the manner required association, issue a savings book to the Account Holder, which shall by law. The agreed interest rate shall continue to apply on the time bear a personal number which may not be assigned, endorsed or deposit account even after the passing away of the depositor and until transferred in any other manner. maturity of the term. 2. Deposits and withdrawals may only be made on presentation of 15. The Client undertakes to return the savings book to the Bank on the savings book. All transactions on the account must be recorded in closure of the account, for whatever reason. the savings book and in the Bank's registers. 3. The savings book shall indicate the date and the amount of each Ili. Conditions re!ating to term deposit accounts deposit and withdrawal, and each transaction shall bear the Bank's 1. The Bank may, at the request of the Client, open one or more term stamp. No change or correction made to amounts recorded in the deposit accounts in Lebanese pounds or foreign currency. savings book shall be taken into account if they do not bear the 2. Sums deposited in this account shall be automatically blocked, Bank's stamp. The Bank is thus released from the obligation to issue as from the date of opening, for a period requested on opening the a statement. account. The Client cannot either withdraw or transfer any sums 4. The Account Holder may make withdrawals in person or name deposited in this account before this date. a representative to make deposits in and withdrawals from the 3. If the Bank exceptionally authorizes a withdrawal before the term, account. The issuing of a savings book to the representative shall it is for the Bank to set down the conditions. take place under the Account Holder's responsibility. The Bank does 4. At the end of the term, the account shall be blocked for a similar not recognize any beneficiary other than the holder of the savings term under the same conditions, subject to the Bank's right to change book and the savings book is not transferable by assignment or the interest rate in order to apply that in force at the date of the endorsement. renewal, unless the Account Holder decides otherwise by notifying 5. No withdrawals may be made from the savings account through the Bank by registered letter with acknowledgement of receipt, at the use of cheques, wire transfers or payment cards. least two business days before the end of the period. 6. The Account Holder shall solely bear the consequences arising In the case of renewal, the creditor interest shall be added to the as a result of the loss, destruction, theft or fraudulent use of the account balance at the end of the period. savings book, regardless of the identity of the perpetrator. In this If there is no renewal, the account shall be converted into a sight case, the Account Holder shall inform the Bank in writing forthwith, deposit account which shall be automatically subject to the special either by registered letter with acknowledgement of receipt, or by conditions applicable to sight deposit accounts, as set forth herein. hand-delivered letter against acknowledgement of receipt. The Bank If the account is closed before the end of the period, the Bank shall shall not have any direct or indirect liability in this respect. not be liable for the payment of this interest for the period concerned. 7. In the case of the destruction, loss or theft of the savings 5. The special conditions applicable to savings accounts shall apply book, the Bank may issue a new savings book to the Account to deposit accounts, when the latter are opened with a savings book. Holder, in exchange for the payment of compensation under the conditions set down by the Bank. The Account Holder shall thus sign a statement relating to the destruction, loss or theft which !Ir. Special conditions relating to numbered shall discharge the Bank in full, and in which it shall undertake to acceun;s return the lost or stolen savings book if it is found. The Bank shall 1. At the request of the Client, the Bank may, at its discretion, agree only issue the new savings book on expiry of a period of one week to open a numbered cash or shares deposit account governed by the fottowi7g-the mate-ref th-e above-mentioned statement. The original Law of 3 September 1956 relating to banking secrecy and by these savings book shall be cancelled and shall have no legal effects. General Conditions. Safe boxes may,.,also be hired under a number. The account balance at the date of issue of the new savings book, 2. This account shall be identified exclusively by a number allotted es shown by the Bank's registers, shall' be recorded in this new by the Bank. savings book. 1 3. Any notices and correspondence sent by the Bank to the Client 0. In the event of an error an recording the balance in the savings concerning the numbered' account shall refer only to the account gook, or a differ enCebetWeen the sums recorded in the savings book number. Similarly any instructions given and all transactions carried and those recorded in the Bank's registers, the latter shall prevail out by the Client relating to the account shall refer only to the account and only these recofds_ shall be taken into account., The Account number. Holder undertakes to allowThe Bank to correct records'in the savings 4. Numbered accounts are operated exclusively as deposit accounts. book so that they comply with those of the Bank, which may request No credit granted by the Bank to the Client shall be recorded in a the Account Holder to sign the Corrected copy `of thEesavings book numbered account. Withdrawals made by the Client shall not under ;and, thus, approve the balance as shown and its conformity with the any circumstances exCeed the amount of the account balance. 5. The numbered accounts are funded exclusively by deposits in Bank's registers. cash, cheques or by wire transfers from another bank for credit to the 9. The Account Holder hereby in evocably authorizes the Bank to account, which shall be referred to only by its number. Withdrawals 'record all fees and commission owed to the Bank relating to the said from these accounts shall be made ,in cash, by cheques or by ,account in the savings book. wire transfer, referring 'only to the account number. No payment 10. The Bank may at any time retbse, either in whole' or in part, to instruments (cheques, payment cards or other) shall be made 'deposit any sure in the savings account; similarlythe Bahk may record available to the Client for the purpose of operating the numbered such sums in ahy other account opened in the name of the Account account. •„. Holder, or open an account' in the latter's name under conditions 6. The numbered account shell bear interest under the same which it deems- appropriate, it being understood that the Account conditions as those applicable to -the other accounts, as set forth Holder has no right to oppose any of the•above mentioned measures. herein. li;311,CIr431 1,2.r ro_5 `t Cci lLIillun Case 1:20-cv-04438-DLC Document 61-5 Filed 11/20/20 Page 6 of 15 7. The Bank shall'protect the identity of the Account Holder in the joint account and the personal account or accounts of such joint accordance with the conditions set down by the Law of 3 September account holder opened with the Bank. 1956 relating to banking secrecy. The Account Holder's identity may 10. The joint account holders, when requesting the opening of the only be disclosed with his/her written consent, or that of his/her heirs joint account, shall stipulate whether the Bank is authorized to or legatees, in the event that the Account Holder is declared bankrupt provide information concerning the joint account to the heirs of the or in the case of a dispute between the Bank and the Client arising in deceased joint account holder, pursuant to article 3 of the Law of 19 connection with their relationship. December 1961 relating to joint accounts, which provides as follows: « In the case of the death of one of the joint account holders, the other CiperiEI tg:nditiozis relating to collecthre joint account holder or holders shall have full access to the account which they shall be free to operate. In this case, the bank is not obliged accour:cr; to provide any information to the heirs of the deceased joint account 1. All signatories to the request to open this account are treated holder, unless otherwise expressly provided for in the joint account as collective account holders. They can only use and operate the contract» account collectively. In the case of the death of one of the holders, the «This article shall be repeated in full in the contract». other collective account holders can only use and operate the account The joint account holders hereby declare that they agree / do not collectively with the successors of the deceased joint holder. agree to disclose information on the joint account to the heirs of the 2. However, the collective account holders hereby authorize the Bankto deceased joint account holder. credit the collective account pursuant to the instructions of one of them, 11. Given the joint and several liability of the joint account holders, each without need to give advance notice to the other collective holders. one of the joint account holders shall be jointly liable for the payment 3. It is expressly agreed by the parties that the collective account to the Bank of any debit balance of the joint account, and/or any related holders shall be jointly and severally liable with each other toward interest, commission, fees and ancillary charges which may be due. the Bank for the proper performance of any obligation arising from 12. Pursuant to article 2 of the Law relating to banking secrecy, and the collective account. Accordingly, the collective account holders article 7 of the Law of 19 December 1961, each of the joint account shall be jointly and severally liable for the payment to the Bank of any holders hereby authorizes the Bank to request information relating to debit balance of the collective account, and/or any related interest, the funds and aasets deposited in other banks and, more generally, commission, fees and ancillary charges which may be due. regarding the personal or joint accounts of each joint account holder 4. Similarly, obligations arising in connection with the operating of with such other banks. For this purpose, each joint holder hereby the account and/or relating to the account shall be treated as indivisible releases these other banks, their managers and employees of their obligations for which each of the collective account holders and their obligations with regard to banking secrecy. heirs and successors shall be liable. 13. In accordance with article 4 of the Law relating to banking secrecy, 5. In the case of a dispute between one of the heirs or legatees and the Client hereby expressly, unconditionally and irrevocably authorizes the other collective account holders, the Bank may block the account the Bank to carry out any seizure of funds and assets deposited in a until the dispute has been definitively settled, either amicably or by personal or joint account with any other bank. the courts. 6. The collective account holders may grant powers of attorney VII. Special concaions vel€ting payment car._,,, to each other or to a third party to operate the collective account. 1. The Bank may, at its entire discretion, agree to provide a payment In order to be valid, such power of attorney must be signed by all card to the Client (hereafter the « card ») thus allowing the Account collective account holders of the account. Holder (hereafter the « card holder »), in exchange for payment of the applicable commission: VI. Conditions relaUng to joint, acco;ints (End/oil - To make cash withdrawals from ATM machines in Lebanon and 1. The joint account is governed by the provisions of the Law of 19 abroad December 1961 authorizing the opening of a joint account. - To obtain a statement from these machines concerning the 2. It is expressly agreed that the joint account holders shall be jointly balance of his/her accounts with the bank and severally liable with each other toward the Bank for the proper - To pay for purchases of goods and services at any establishment performance of any obligation arising from. Similarly, obligations in Lebanon and abroad arising in connection with the operating of the account and/or relating - To make account to account transfers between his/her accounts to the account shall be treated as indivisible obligations for which with the Bank. each of the joint holders and their heirs and successors shall be liable. 2. The card is issued at the request of the Account Holder or its 3. Each joint account holder shall, as joint and several creditor, be representative. The card holder may, under his/her own responsibility, entitled to give instructions and operate the account with his/her own request additional cards for third parties, after having given the signature, with neither limitation nor reservation, and without having number of his/her personal account on which the card or additional to notify the other joint holders or obtain their consent. Accordingly, cards are to be used. each joint account holder may make withdrawals, collect all sums, 3. The card remains the property of the Bank, which has the right to give instructions to the Bank and generally dispose of the full account withdraw or prevent its use at any time, without having to justify its balance, regardless of the amount. It is expressly agreed that the joint decision. The card holder shall therefore return the card to the Bank at account holders, which are signatories hereto, hereby authorize the the latter's first request. Bank with regard to any transaction carried out by the Bank to act in 4. The card shall have an expiry date marked on the card itself. It accordance with instructions given by one of them, and the Bank shall shall be renewed at such date, unless the Bank or the card holder be held harmless in this respect. decides not to renew it. The closure of the account to which the 4. Each joint account holder shall be entitled to enter alone into any card is attached, for whatever reason, shall lead automatically to services agreement relating to the to the joint account and to request the cancellation of the card and, thus, the obligation to return any alone the Bank to issue any means or instrument of payment relating additional card used for this account. to such account wrth-out limitation, checks, debit and/or 5. The cap on the amount which may be used-each day with the card credit cards), without having to obtain the other joint account holders' shall be that agreed by the Bank and the- card holder or, if applicable prior approval. the limit authorized by the Bank for'this type of card. 6. It is expresSly agreed that the Bank shall not accept any defense 6. The Bank shall withdraw ffom the accountoberated with the or opposition un the part of ony of the joint account holders relating card a sum (in US dollars or Lebanese pounds'at the exchange rate to the operating or use of the account on the part of another joint applicable at that date) td cover accounynanagement fees, which account holder. Any -surc-KnOtice sent to thli Bank shall be automatically shall also include the cdsts of insurance against loss, theft or the rejected and treated as null and void. fraudulent use of the ca/d. 6. In the case of a dispute between the joint account holders 7. The card holder is responsible for all withdrawals, costs and relating to the said account-, the Bank shall block the balance until it charges arising in cofinection with the use of the card. The card has been notified of a request to unblock the account signed by all holder shall, under hiS/her responsibility and before carrying out a joint account
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