Common use of Technology Systems Clause in Contracts

Technology Systems. Since January 1, 2006, the electronic data processing, information, record keeping, communications, telecommunications, hardware, third party software, networks, peripherals, portfolio trading and computer systems, including any outsourced systems and processes, and related Intellectual Property (collectively, the “Technology Systems”) that are used by AB&T and Alliance have not suffered unplanned disruption causing a Material Adverse Effect with respect to the AB&T. Except for ongoing obligations under agreements with providers of the Technology Systems, AB&T’s and Alliance’s use of the Technology Systems is free from any liens. Access to business critical parts of the Technology Systems is not shared with any third party.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (AB&T Financial CORP), Agreement and Plan of Merger (1st Financial Services CORP), Agreement and Plan of Merger (1st Financial Services CORP)

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Technology Systems. Since January 1, 20062005, the electronic data processing, information, record keeping, communications, telecommunications, hardware, third party software, networks, peripherals, portfolio trading and computer systems, including any outsourced systems and processes, and related Intellectual Property (collectively, the "Technology Systems") that are used by AB&T and Alliance the Company have not suffered unplanned disruption causing a Material Adverse Effect with respect to the AB&T. Company. Except for ongoing obligations under agreements with providers of the Technology Systems, AB&T’s and Alliance’s the Company's use of the Technology Systems is free from any liensLiens. Access to business critical parts of the Technology Systems is not shared with any third party.

Appears in 1 contract

Samples: Stock Voting Agreement (Four Oaks Fincorp Inc)

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