Authoritative Copy Clause Samples
POPULAR SAMPLE Copied 1 times
Authoritative Copy. 4.1 All Participants agree that each eContract constitutes electronic chattel paper as defined under UCC Revised Article 9.
Authoritative Copy. Neither the Seller nor a custodian or vaulting agent thereof holding any Receivable that is electronic chattel paper has communicated an “authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the Servicer.
Authoritative Copy. 4.1 Creation of an Authoritative Copy. Once a Dealer obtains all necessary Signatures for an eContract and submits it to a Financing Source, the System will create an Authoritative Copy of the eContract and submit the Authoritative Copy to the Dealer's logical segment of the Vault. However, the Dealer will not have any Control or access rights to the Authoritative Copy and upon the Financing Source's booking or funding, the Authoritative Copy will be transferred to the Financing Source's logical segment of the Vault ("Initial Delivery"). The System will create an Authoritative Copy as follows:
4.1.1 The Dealer or Financing Source's ability to access the Vault, as applicable, will be validated by the System in accordance with Section 2 of these System Rules.
4.1.2 The System will verify the digital certificate used to bind the electronic Signatures to the eContract.
4.1.3 Once the System verifies the digital certificate and the integrity of the eContract, the System will seal the eContract with an additional digital certificate and embed a date/time stamp in the sealed eContract to indicate the time at which the eContract is transferred into the Vault.
4.1.4 The digital certificates employed by the System will not be specific to any customer, Dealer or Financing Source, and should not be used to identify the customer or originating Dealer.
Authoritative Copy. 4.1 Creation of an Authoritative Copy. Once a Dealer obtains all necessary Signatures for an eContract and submits it to a Financing Source, the System will create an Authoritative Copy of the eContract and submit the Authoritative Copy to the Dealer’s logical segment of the Vault. Until Control is transferred to a Purchaser, the Dealer is the Owner of Record. The System will create an Authoritative Copy as follows:
4.1.1 The Dealer’s ability to access the Vault will be validated by the System in accordance with Section 2 of these System Rules.
4.1.2 The System will verify the digital certificate used to bind the electronic Signatures to the eContract.
4.1.3 Once the System verifies the digital certificate and the integrity of the eContract, the System will seal the eContract with an additional digital certificate and embed a date/time stamp in the sealed eContract to indicate the time at which the eContract is transferred into the Vault.
4.1.4 The digital certificates employed by the System will not be specific to any customer or Dealer, and should not be used to identify the customer or originating Dealer.
Authoritative Copy. The authoritative copy of this Agreement and any Service Description, Product Schedule and/or User Guides or other enrollment documents required to activate and provide the Services herein (the “Authoritative Copy”), shall be the electronic copy that resides in the Bank's document management system (which may include documents held by a custodian designated by the Bank, such as DocuSign). If a paper version of the Authoritative Copy is created, then both the electronic version and paper version shall be considered originals and shall both be an Authoritative Copy.