Common use of Obtaining Signatures Clause in Contracts

Obtaining Signatures. During the process of converting to paper, the System will have the authority, as an electronic agent (as such term is defined in ESIGN or UETA, as applicable), to create all necessary Signatures for Owners of Record to establish an effective transfer chain of assignments from the original Owner of Record to the then-current Owner of Record. The paper original will include the Ownership Record to reflect the transfer chain recorded in the System from the Dealer as agent for the Financing Source through the current Owner of Record. The Ownership Record is updated to reflect the Export of the Authoritative Copy, including the name and user identification of the Persons who initiated and approved the Export.