Electronic Affirmation Clause Samples

Electronic Affirmation. Notwithstanding any other provision of this Article IV, the Trustee may settle securities trades effected by the Company through a securities depository that utilizes an institutional delivery system, in which event the Trustee may deliver or receive securities in accordance with appropriate trade reports or statements given to the Trustee by such depository without having received direct communications or instructions from the Company.

Electronic Affirmation. Notwithstanding any other provision of this Agreement, the Escrow Agent may settle securities trades effected by the Parties through a securities depository that utilizes an institutional delivery system, in which event the Escrow Agent may deliver or receive securities in accordance with appropriate trade reports or statements given to the Escrow Agent by such depository without having received direct communications or instructions from the Parties.