Common use of Computer Network Clause in Contracts

Computer Network. If the Company will process its own loans or otherwise needs access to a loan origination system, ▇▇▇▇▇ Fargo, or one of its Affiliates, shall lease to the Company (and the Company shall be required to utilize), the computer software and computer network used by Retail Offices to conduct a residential mortgage business. The terms and conditions of these lease arrangements, which shall terminate automatically upon any dissolution of the Company subject to an additional period as necessary to wind down the business of the Company, shall be set forth in a separate written lease agreement to be agreed upon and executed by the ▇▇▇▇▇ Fargo or its Affiliate and the Company (attached as Exhibit 1). Terms of the lease agreement shall be set at rates that reflect actual rates charged Retail Offices for ▇▇▇▇▇ Fargo's internal reporting purposes for similar software and network access as adjusted from time to time.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Community First Bankshares Inc)

Computer Network. If the Company will process its own loans or otherwise needs access to a loan origination system, ▇▇▇▇▇ Fargo, or one of its Affiliates, shall lease to the Company (and the Company shall be required to utilize), the computer software and computer network used by Retail Offices to conduct a residential mortgage business. The terms and conditions of these lease arrangements, which shall terminate automatically upon any dissolution of the Company subject to an additional period as necessary to wind down the business of the Company, shall be set forth in a separate written lease agreement to be agreed upon and executed by the ▇▇▇▇▇ Fargo or its Affiliate and the Company (attached as Exhibit 1). Terms of the lease agreement shall be set at rates that reflect actual rates charged Retail Offices for ▇▇▇▇▇ Fargo's ’s internal reporting purposes for similar software and network access as adjusted from time to time.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Community First Bankshares Inc)