Vault or Vaulting Sample Clauses
The 'Vault or Vaulting' clause defines the requirements and procedures for securely storing physical or digital assets, documents, or materials. Typically, this clause outlines the standards for the vault's security, access controls, and the responsibilities of parties regarding the safekeeping of items placed in the vault. For example, it may specify who can access the vault, under what conditions, and how records of access are maintained. The core function of this clause is to ensure the protection and integrity of valuable or sensitive items, thereby reducing the risk of loss, theft, or unauthorized access.
Vault or Vaulting. The electronic storage, access, and Control transfer system managed by Dealertrack as Custodian, which provides Persons, including, without limitation, Dealers and Purchasers, with secure storage and management of Authoritative Copies and facilitates the Transfer of Authoritative Copies.