Common use of Technical Verification Clause in Contracts

Technical Verification. Beneficiary reserves the option to request Escrow Agent to verify the Source Material for completeness and accuracy. Escrow Agent may elect to perform the verification at its site or at the Depositor's site. Depositor agrees to cooperate with Escrow Agent in the verification process by providing its facilities and computer systems and by permitting Escrow Agent and at least one employee of Beneficiary to be present during the verification of Source Material.