Common use of Maintenance of Computer Systems Clause in Contracts

Maintenance of Computer Systems. The Seller shall maintain its computer systems so that, from and after the time of sale to the Purchaser of the Samco Receivables hereunder, the Seller's master computer records (including any back-up archives) that refer to a Samco Receivable shall indicate clearly the interest of the Purchaser in such Samco Receivable and that such Samco Receivable is owned by the Purchaser. Indication of the Purchaser's ownership of a Samco Receivable shall be deleted from or modified on the Seller's computer systems when, and only when, the Samco Receivable shall have been paid in full or repurchased.

Appears in 9 contracts

Samples: Samco Purchase Agreement (Consumer Portfolio Services Inc), Receivables Purchase Agreement (Consumer Portfolio Services Inc), Purchase Agreement (Consumer Portfolio Services Inc)

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